Mobile Infrastructure Corporation (BEEP) Market Cap
Mobile Infrastructure Corporation has a market capitalization of $87.6M.
Financials based on reported quarter end 2025-12-31
Price: $2.07
▼ -0.02 (-0.96%)
Market Cap: 87.56M
NASDAQ · time unavailable
CEO: Stephanie L. Hogue
Sector: Real Estate
Industry: Real Estate - General
IPO Date: 2023-08-28
Website: https://www.mobileit.com
Mobile Infrastructure Corporation (BEEP) - Company Information
Market Cap: 87.56M · Sector: Real Estate
Mobile Infrastructure Corporation is a Maryland corporation formed on May 4, 2015. The Company focuses on acquiring, owning and leasing parking facilities and related infrastructure, including parking lots, parking garages and other parking structures throughout the United States. The Company targets both parking garage and surface lot properties primarily in top 50 U.S. Metropolitan Statistical Areas (MSAs), with proximity to key demand drivers, such as commerce, events and venues, government and institutions, hospitality and multifamily central business districts. As of June 30, 2023, the Company owned 43 parking facilities in 21 separate markets throughout the United States, with a total of 15,676 parking spaces and approximately 5.4 million square feet. The Company also owns approximately 0.2 million square feet of retail/commercial space adjacent to its parking facilities.
Analyst Sentiment
Based on 3 ratings
Analyst 1Y Forecast: $6.50
Average target (based on 1 sources)
Consensus Price Target
Low
$7
Median
$7
High
$7
Average
$7
Potential Upside: 214.0%
Price & Moving Averages
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Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"BEEP generated revenue of $8.76M in its most recent fiscal year, with a net loss of $7.50M, resulting in an EPS of -$0.19. The company has total assets of $382.46M and total liabilities of $223.42M, leading to total equity of $159.05M. Operating cash flow was positive at $1.23M, and free cash flow was $753k, indicating some operational viability despite the overall loss. BEEP has been challenged in market performance, facing a 1-year price decline of 38.55% and a year-to-date increase of only 0.39%. The shares currently trade at $2.55, significantly below any potential target price of $6.50. Cash expenditures have been managed, but dividend payments indicate balance sheet stress. Investor sentiment remains cautious given the persistent losses and market underperformance."
Revenue Growth
Minimal revenue growth with $8.76M, yet still below optimal performance expectations.
Profitability
Negative net income of -$7.50M raises concerns about viability.
Cash Flow Quality
Positive free cash flow of $753k, suggesting some operational efficiency.
Leverage & Balance Sheet
Moderate leverage with sufficient equity, but high net debt of $192.87M.
Shareholder Returns
Significant share price decline of 38.55% over the past year, indicating poor returns.
Analyst Sentiment & Valuation
Price well below target consensus, but bearish sentiment on future growth.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
Management is trying to frame Q4/FY2025 as an “improved structure” story: contract base expansion (6,700+ contracts), utilization playbook, and a clear capital plan (>$30M noncore dispositions at ~2% cap rates; $10M line-of-credit paydown; ongoing buybacks). 2026 guidance implies meaningful operating leverage (midpoint: NOI +7% and Adj. EBITDA +10% vs 2025 actual). However, the Q&A reveals the near-term reality: disruptions are still operationally tangible—construction-related transient weakness drove Q4 revenue/RevPAS, and weather events (storm shutting Nashville/Cincinnati; week-long Nashville power outage) caused “market by market” downticks into 1Q. The most candid operational hurdle is technology/execution lag: revenue management improvements “have not yet produced the operational fluidity and throughput we expect” in certain high-volume assets, with more tech changes planned. Optimism on return-to-office conversion is evident, but analyst pressure focused on disposition timing/cash flow and localized recovery—where Cincinnati and storm/weather impacts may weigh earliest.
Growth Catalysts
- Contract Parking baseline assets grew to 6,700+ contracts; same-store sales +10% YoY (and +12% excluding temporary Detroit disruption)
- Cincinnati Convention Center reopened (incremental transient/campus event reopening catalyst in 1Q/early 2026)
- Denver 16th Street Mall redevelopment and Nashville 2nd Avenue rebuild completed (transient demand recovery catalysts)
- Increased inbound block parking inquiries (not seen in nearly 5 years) as return-to-office policies drive measurable demand shift
- Residential parking contracts increased ~60% YoY in 2025 on office-to-apartment conversions (24-hour revenue diversification)
Business Development
- 3-institution investor participation in $100 million asset-backed securitization (completed in the third quarter of 2025)
- Targeted disposition buyer approach (asset-by-asset stakeholder relationships; sometimes change-of-use buyers like office-to-residential)
Financial Highlights
- Q4 2025 total revenue: $8.8M vs $9.2M prior year (-4.3% YoY); decline attributed to lower transient volumes (events/attendance) and construction impacts
- Q4 2025 RevPAS: $190 vs $200 prior year (-5% YoY); Detroit RevPAS down -3.4% YoY excluding Detroit
- Q4 2025 NOI: $5.3M vs $5.5M prior year
- Q4 2025 Adjusted EBITDA: $3.9M flat YoY (3.9M vs 3.9M implied)
- Full-year 2025 revenue: $35.1M vs $37.0M (-5.2% YoY)
- Full-year 2025 same-location RevPAS: $199 vs $209 (-4.7% YoY)
- Full-year 2025 NOI: $20.7M vs $22.6M
- Full-year 2025 Adjusted EBITDA: $14.3M vs $15.8M
- Balance sheet: cash & restricted cash $15.3M (Dec 31, 2025) vs $15.8M (Dec 31, 2024)
- Balance sheet: total debt $207.7M (Dec 31, 2025) vs $213.2M (Dec 31, 2024); $10M line of credit paydown in Q4 funded via asset sale proceeds
Capital Funding
- Stock repurchase: >1.6M shares repurchased at average price $3.25/share (as of call date)
- Line of credit: approximately $10M paydown in Q4 2025
- Q&A on remaining dispositions cash uses: excess proceeds to be applied to line of credit after CMBS waterfall/prepayments
Strategy & Ops
- Phase 1 asset rotation: sold or under contract to sell >$30M of noncore assets; aggregate cap rate of sold assets ~2% to date
- Asset rotation timing (Q&A): one asset still remaining to close; expected in next 14–20 days; remaining 2026 dispositions weighted to back half of year
- Operational hurdle: technology/data strategy pivot identified barriers to revenue management in certain high-volume assets; initiatives have not yet achieved expected operational fluidity/throughput
- 2026 operational enhancement focus: targeted improvements to transaction flow and reduced friction at select properties; re-examining technology used across the portfolio
- Technology/ops priorities: frictionless drive-in/drive-out experience, License Plate Recognition (LPR) to capture data and reduce leakage, improved online presence/premarketing, and liquidation of excess inventory via online aggregators
- Lease-to-management transition: no material impact expected; remaining lease transitions largely late this year and next year; only a handful remaining and those on long-term leases are ending over the next 24 months
Market Outlook
- 2026 revenue guidance: $35M to $38M (midpoint +4% vs 2025; apples-to-apples ~+8% same-portfolio midpoint vs 2025)
- 2026 NOI guidance: $21.5M to $23.0M (midpoint +7% vs 2025 actual; adjusted/removing sold assets ~+10% NOI growth)
- 2026 Adjusted EBITDA guidance: $15.0M to $16.5M (midpoint +10% vs 2025 actual; adjusted/removing sold assets ~+13%)
- Guidance assumptions: (1) Contract Parking volume growth continuing from 10% achieved in 2025, (2) transient growth where construction disruptions have resolved, (3) return-to-office green shoots increasing both contract and transient revenue
Risks & Headwinds
- Transient volumes declined 6% in 2025 due to temporary micro market disruptions tied to physical projects/timing (construction impacts mentioned repeatedly as driver of revenue/RevPAS weakness)
- Rate compression: Q4 RevPAS down 5% YoY attributed to volume-first strategy (lower initial price points) plus transient weakness
- Operational technology execution gap: initiatives to improve revenue management in certain high-volume assets have not yet produced expected operational fluidity/throughput; additional tech review underway
- Weather/macro operational disruption (Q&A): national storm shut down Nashville and Cincinnati; resulting impact also hit Northeastern/New York; Nashville power outage without power for ~1 week; management stated it was largely nominal on full-year basis but acknowledged a near-term downtick
- Detroit redevelopment dislocation: near-term RevPAS pressure expected due to active redevelopment; longer-term positioning described as strong
Sentiment: MIXED
Note: This summary was synthesized by AI from the BEEP Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.