Significant Revenue and Income Growth
For Q3 2025, revenue grew by 63% and net income increased by 130% compared to Q3 2024.
Residential Real Estate Revenue Surge
Residential real estate revenue grew by 94% to $36.8 million from $19 million.
Increase in Average Homesite Price and Gross Margin
The average homesite base price increased to $150,000 from $86,000, and the gross margin rose to 53% from 39%.
Record Leasing and Hospitality Revenue
Leasing revenue increased by 7% to $16.7 million, and hospitality revenue increased by 9% to $60.6 million, both setting all-time records for their respective quarters.
Successful Asset Sale
The sale of Watercrest senior living for $41 million resulted in a gross profit of $19.4 million.
Strategic Share Repurchases and Dividend Increase
The company repurchased $24.9 million in shares through the first 9 months of 2025 and announced a 14% increase in the quarterly dividend.
Expansion of Flight Connections
New daily nonstop flights between Northwest Florida Beaches International Airport and LaGuardia Airport in NYC were announced.