A significant meeting has been scheduled for June 11, where BEEP's leadership team will be engaging with investors. The CEO, Chavez, alongside President and Co-Founder, Hogue, and CFO, Gold, are set to participate. This meeting is hosted by Maxim and is a notable opportunity for investors to gain insights into BEEP's strategic direction and performance. Such gatherings are crucial for stakeholders wanting to understand the company's market position and future plans.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Mobile Infrastructure Corp (BEEP, Financial) is $6.17 with a high estimate of $7.00 and a low estimate of $5.00. The average target implies an upside of 59.76% from the current price of $3.86. More detailed estimate data can be found on the Mobile Infrastructure Corp (BEEP) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Mobile Infrastructure Corp's (BEEP, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
BEEP Key Business Developments
Release Date: May 13, 2025
- Revenue: $8.2 million in Q1 2025, a 6.7% decrease from $8.8 million in Q1 2024 on a GAAP basis.
- Revenue per Available Stall (RevPAS): $184 per stall, excluding Detroit, compared to $183 per stall in the prior year.
- Net Operating Income (NOI): $4.5 million, down 17% from last year's first quarter.
- Adjusted EBITDA: $2.7 million, down 21% from $3.5 million in the prior year.
- Adjusted EBITDA Margin: 33.4%.
- Property Operating Expenses: Increased to $1.9 million from $1.5 million in the prior year's first quarter.
- General and Administrative Expenses: $1.3 million, slightly up from $1.2 million in the prior year.
- Cash and Restricted Cash: $16 million at the end of Q1 2025.
- Total Debt Outstanding: $214 million at the end of Q1 2025.
- 2025 Revenue Guidance: $37 million to $40 million.
- 2025 NOI Guidance: $23.5 million to $25 million, representing a 7% year-on-year growth at the midpoint.
- 2025 Adjusted EBITDA Guidance: $16.5 million to $18 million.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Mobile Infrastructure Corp (BEEP, Financial) secured over 250 net new monthly contracts, indicating strong business development efforts.
- The company is on track with its strategic pillars, including converting core portfolio assets to management agreements and optimizing its portfolio.
- Management contracts now cover 29 of 40 garages, allowing for full rate autonomy and better data-driven decision-making.
- The company is exploring complementary revenue streams, such as electric vehicle charging and autonomous vehicle fleet hubs, to enhance asset value.
- Mobile Infrastructure Corp (BEEP) maintained its 2025 guidance for revenue and net operating income, reflecting confidence in its annual plan.
Negative Points
- Seasonal headwinds and harsh weather conditions muted top-line growth in the first quarter.
- Revenue decreased by 6.7% on a GAAP basis compared to the first quarter of 2024.
- Net operating income was down 17% from the previous year's first quarter.
- The Renaissance Center in Detroit is expected to be a drag on the overall portfolio due to current redevelopment challenges.
- Property operating expenses increased due to the shift to management contracts and related accounting treatments.
