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(TSXV: NXLV) NexLiving Communities Inc. ("NexLiving" or the "Company") announced operating and financial results for the three-month and six-month periods ended June 30, 2025 .
Stavro Stathonikos , President & CEO commented: "I'm pleased to report that in Q2, we grew NOI by +75% and FFO per share by +26%, thanks to our team's disciplined focus on growth and operational excellence. Occupancy hit 97% post the quarter-end, driven by strong demand in our markets and our commitment to keeping tenants happy. With a solid acquisition pipeline and growing free cash flow, NexLiving is positioned to continue its growth path and deliver lasting value for our shareholders."
Summary of Results:
- Suite count increased to 2,083 at June 30 , up +100% from a year ago and +4% from December 31, 2024 .
- Net operating income ("NOI") increased by +75% to $5.2 million for the three-month period and +72% for the six-month period ended June 30, 2025 .
- Funds from operations ("FFO") per share increased by +26% for the three-month period and +15% for the six-month period ended June 30, 2025 .
- Same property NOI increased +3.4%, driven by a +3.7% increase in revenue and offset by a +4.2% rise in expenses for the three-month period ended March 31, 2025 .
- Funds from operations ("FFO") increased +110% to $1.7 million and diluted FFO per share increased +26% to $0.05 for the three-month period ended March 31, 2025
Q2 2025 Operating and Financial Highlights:
| As at | 30-Jun-25 | 31-Dec-24 | Change |
| Number of suites | 2,083 | 1,998 | 85 |
| Occupancy | 95.9 % | 96.4 % | (50) bps |
| Net Debt to GBV* | 67.7 % | 67.7 % | - |
| Weighted average term to debt maturity (years) | 4.0 | 4.2 | (0.2) yrs |
| Weighted average contractual interest rate | 3.10 % | 3.17 % | (7) bps |
| Net asset value | 143,816,584 | 136,225,487 | 5.6 % |
| Net asset value per share | $ 4.36 | $ 4.12 | 5.8 % |
| | | | |
| For the three months ended June 30, | 2025 | 2024 | Change |
| NOI | 5,220,018 | 2,980,777 | 75.1 % |
| NOI margin | 60.4 % | 61.2 % | (93) bps |
| FFO* | 1,610,790 | 645,649 | 149.5 % |
| FFO per share - diluted* | 0.05 | 0.04 | 26.1 % |
| FFO payout ratio* | 21 % | 26 % | (5 %) |
| Same property revenue* | 4,516,072 | 4,355,016 | 3.7 % |
| Same property operating expenses* | (1,748,429) | (1,677,650) | 4.2 % |
| Same property NOI* | 2,767,643 | 2,677,366 | 3.4 % |
| Same property NOI margin* | 61.3 % | 61.5 % | (19) bps |
| | | | |
| For the six months ended June 30 | 2025 | 2024 | Change |
| NOI | 10,087,929 | 5,852,964 | 72.4 % |
| NOI margin | 58.7 % | 59.8 % | (116) bps |
| FFO* | 3,298,983 | 1,449,831 | 127.5 % |
| FFO per share - diluted* | 0.10 | 0.09 | 14.8 % |
| FFO payout ratio* | 20 % | 23 % | (3 %) |
| Same property revenue* | 9,012,587 | 8,715,169 | 3.4 % |
| Same property operating expenses* | (3,615,141) | (3,463,321) | 4.4 % |
| Same property NOI* | 5,397,446 | 5,251,848 | 2.8 % |
| Same property NOI margin* | 59.9 % | 60.3 % | (37) bps |
| *Refer to section "Non-IFRS Financial Measures" |
Occupancy:
As of June 30, 2025 , the Company's wholly owned portfolio had an occupancy rate of 95.9%, reflecting a 50 basis point decrease from December 31, 2024 , driven by normal tenant turnover during the summer leasing period. Subsequent to quarter end, the Company continued to make occupancy gains in all regions and as of August 21, 2025 , the Company's occupancy was 97.0%.
Fair Value of Investment Properties:
The Company's overall weighted average capitalization rate as at June 30, 2025 , was 4.89%, up 7 basis points from December 31, 2024 .
The fair value gain of $4.7 million for the three-month and $8.0 million for the six-month period ended June 30, 2025 , reflects NOI growth realized during the period, as well as forecasted NOI improvements from anticipated rent increases and operating expense efficiencies.
Dividend:
The Company's board of directors has approved and declared a dividend of $0.01 per common share for the quarter ending September 30, 2025 , representing $0.04 per share on an annualized basis. The dividend is payable on, or after September 26, 2025 , to shareholders of record at the close of business on September 5, 2025 .
About the Company
NexLiving continues to execute on its plan to acquire recently built or refurbished, highly leased multi-residential properties in secondary markets across Canada . NexLiving aims to deliver exceptional living experiences to our residents and provide comfortable, affordable housing solutions that cater to a wide range of demographics. The properties offer a range of modern and updated suites, with a variety of amenities and features that allow residents to experience a hassle-free and maintenance-free lifestyle. NexLiving is committed to investing in its properties to ensure that they are modern and up to date. The Company currently owns 2,083 units in New Brunswick , Quebec , Ontario and Manitoba . NexLiving has also developed a robust pipeline of qualified properties for potential acquisition. By screening the properties identified to match the criteria set out by the Company (proximity to healthcare, amenities, services and recreation), management has identified a number of attractive acquisition targets.
For more information about NexLiving, please refer to our website at www.nexliving.ca and our public disclosure at www.sedarplus.ca .
Forward-Looking Statements
This news release forward-looking information within the meaning of applicable Canadian securities laws (" forward-looking statements "). All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "projects", "estimates", "forecasts", "intends", "continues", "anticipates", or "does not anticipate" or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements contained in this news release include, but are not limited to, management's expectations of additional rental increases to come into effect by year end and the further enhancement of the Company's financial results. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. These forward-looking statements reflect the current expectations of the Company's management regarding future events and operating performance, but involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual events could differ materially from those projected herein and depend on a number of factors. These risks and uncertainties are more fully described in regulatory filings, which can be obtained on SEDAR at www.sedarplus.ca , under NexLiving's profile, as well as under Risk Factors section of the MD&A released on August 21 , 2025. Although forward-looking statements contained in this new release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this new release speak only as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.
Non-IFRS Financial Measures
The Company prepares and releases unaudited consolidated interim financial statements and audited consolidated annual financial statements prepared in accordance with IFRS. In this and other earnings releases, as a complement to results provided in accordance with IFRS, NexLiving discloses financial measures not recognized under IFRS which do not have standard meanings prescribed by IFRS. These include FFO, FFO (cents per share) – diluted, FFO payout ratio, Debt to GBV and same-property metrics (collectively, the "Non-IFRS Measures"). These Non-IFRS Measures are further defined and discussed in the MD&A dated August 21, 2025 , which should be read in conjunction with this news release. Since these measures are not recognized under IFRS, they may not be comparable to similar measures reported by other issuers. The Company presents the Non-IFRS measures because management believes these Non-IFRS measures are relevant measures of the ability of NexLiving to earn revenue and to evaluate its performance and cash flows. A reconciliation of these Non-IFRS measures is included in the MD&A dated August 21 , 2025. The Non-IFRS measures should not be construed as alternatives to net income (loss) or cash flows from operating activities determined in accordance with IFRS as indicators of the Company's performance.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE NexLiving Communities Inc.
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