Mobile Infrastructure Corp's Q1 2025: Unpacking Contradictions in Disposition Strategy and RevPAS Growth

Disposition cadence and volume, RevPAS growth assumption, revenue per available space (RevPAS) growth and recovery, RevPAS as a metric for utilization are the key contradictions discussed in Mobile Infrastructure Corporation's latest 2025Q1 earnings call.



Portfolio Optimization and Strategic Growth:
- Mobile Infrastructure Corporation aims to rotate out non-core assets, generating at least $100 million in proceeds.
- This strategy involves acquiring new assets that align with the core portfolio, enhancing value for shareholders.

Underlying Operating Metrics and Seasonal Headwinds:
- Despite seasonal headwinds and construction disruptions, the company secured over 250 net new monthly contracts.
- The increase in monthly contracts indicates a shift towards more stable, contract-based revenue.

Balance Sheet and Debt Management:
- Mobile Infrastructure redeemed $1.2 million of preferred stock and repurchased approximately 82,000 shares in the first quarter.
- The company is focused on refinancing debt, evaluating alternative structures to support its asset rotation strategy.

Revenue Sharing Initiatives and Diversification:
- The company is exploring revenue sharing for electric vehicle charging at several garages and long-term vehicle storage.
- These initiatives aim to add durable cash flow and enhance asset value, reflecting a diversified revenue strategy.