Mobile Infrastructure Corp (BEEP) AI Stock Analysis

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Mobile Infrastructure Corp

(NYSE MKT:BEEP)

56Neutral

The stock score reflects a company in transition, with strengths in technical momentum and strategic guidance for growth. However, significant risks remain due to profitability challenges and high leverage. Valuation concerns further temper the outlook, despite positive earnings call sentiment and strategic initiatives.

Positive Factors

Earnings Growth

Asset rotation is expected to be an important driver of earnings growth and requires no new capital raises.

Valuation

BEEP shares currently trade at a 2025E EV/EBITDA multiple of 4.9x, which is considered significantly undervalued.

Negative Factors

Financial Performance

BEEP reported 4Q24 results with revenue and adjusted EBITDA below expectations.

Interest Rates

Higher interest rates pose a valuation challenge for lower-cap-rate assets like parking properties and increase near-term refinancing risk.

Mobile Infrastructure Corp (BEEP) vs. S&P 500 (SPY)

Market Cap

$168.87M

Dividend YieldN/A

Average Volume (3M)37.42K

Price to Earnings (P/E)―

Beta (1Y)1.17

Revenue Growth22.25%

EPS Growth90.95%

CountryUS

Employees18

SectorIndustrials

Sector Strength70

IndustryIndustrial - Infrastructure Operations

Share Statistics

EPS (TTM)-0.25

Shares Outstanding42,645,110

10 Day Avg. Volume43,083

30 Day Avg. Volume37,418

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)4.72

Price to Cash Flow (P/CF)194.10

P/FCF Ratio246.70

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

$6.00

Price Target Upside51.90% Upside

Rating ConsensusModerate Buy

Number of Analyst Covering2

Mobile Infrastructure Corp Business Overview & Revenue Model

Company DescriptionMobile Infrastructure Corp (BEEP) is a company that specializes in providing innovative solutions in the mobile infrastructure sector. The company focuses on developing, managing, and maintaining mobile network infrastructure to support the growing demand for mobile connectivity. Its core services include the leasing of cell tower sites and related infrastructure to mobile network operators, thereby facilitating efficient and widespread network coverage.

How the Company Makes MoneyMobile Infrastructure Corp makes money primarily through the leasing of its mobile network infrastructure, such as cell tower sites, to major mobile network operators. These operators pay rental fees to access BEEP's infrastructure, enabling them to expand and enhance their network coverage. Additionally, the company may engage in partnerships with technology firms and service providers to develop and deploy advanced network solutions, which can further contribute to its revenue streams. Other potential sources of income include the sale or lease of developed land and infrastructure to other companies in related sectors.

Mobile Infrastructure Corp Financial Statement Overview

Summary

Mobile Infrastructure Corp shows revenue growth and improved cash flows. However, persistent profitability challenges, such as negative net income and high leverage, pose significant risks. The balance sheet is improving with stronger equity, but cash flow issues highlight the need for strategic improvements.

Income Statement

Neutral

Mobile Infrastructure Corp has shown revenue growth in recent years, with a notable increase from $30.27M in 2023 to $37.01M in 2024. However, the company has consistently reported negative net income, leading to a negative net profit margin. The gross profit margin improved slightly from 69.7% in 2023 to 61.2% in 2024, indicating better cost management. The EBIT and EBITDA margins remain concerning, with EBIT at 0% in 2024 and EBITDA at 37.4%, indicating challenges in operational efficiency and profitability.

Balance Sheet

Neutral

The company's equity has strengthened, increasing from $109.39M in 2023 to $169.98M in 2024, enhancing the equity ratio to 41%. The debt-to-equity ratio has decreased, indicating improved financial stability, but the overall leverage remains high. The return on equity is negative due to persistent losses, posing a risk to investor returns.

Cash Flow

Negative

Operating cash flow has improved from -$2.12M in 2023 to -$0.78M in 2024, suggesting better cash management, though it remains negative. Free cash flow is still negative but has shown signs of improvement. The operating cash flow to net income ratio indicates that the company is still struggling to translate its revenue into positive cash flow.

Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
37.01M	30.27M	29.10M	20.42M	16.59M
	Gross Profit
22.63M	21.11M	19.27M	13.46M	16.59M
	EBIT
0.00	-5.15M	-5.69M	-3.53M	-1.91M
	EBITDA
13.85M	-15.82M	2.83M	2.35M	-24.57M
	Net Income Common Stockholders
-5.76M	-25.12M	-8.12M	-11.06M	-26.47M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
10.65M	11.13M	5.76M	11.80M	4.24M
	Total Assets
415.06M	423.24M	436.11M	429.15M	293.73M
	Total Debt
213.16M	192.90M	219.68M	207.15M	159.34M
	Net Debt
202.50M	181.77M	213.92M	195.35M	155.11M
	Total Liabilities
225.79M	220.28M	249.10M	223.32M	159.34M
	Stockholders Equity
169.98M	109.39M	87.33M	98.45M	108.78M
Cash Flow		Free Cash Flow
-1.29M	-3.95M	-1.07M	-20.77M	-6.31M
	Operating Cash Flow
-784.00K	-2.13M	1.51M	-20.06M	-6.31M
	Investing Cash Flow
4.24M	-346.00K	-19.44M	-20.25M	1.49M
	Financing Cash Flow
-4.34M	8.21M	12.21M	48.97M	1.07M

Mobile Infrastructure Corp Technical Analysis

Technical Analysis Sentiment

Neutral

Last Price3.95

Price Trends

50DMA

3.84

Positive

100DMA

3.83

Positive

200DMA

3.48

Positive

Market Momentum

MACD

0.16

Negative

RSI

57.81

Neutral

STOCH

87.41

Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BEEP, the sentiment is Neutral. The current price of 3.95 is below the 20-day moving average (MA) of 4.13, above the 50-day MA of 3.84, and above the 200-day MA of 3.48, indicating a neutral trend. The MACD of 0.16 indicates Negative momentum. The RSI at 57.81 is Neutral, neither overbought nor oversold. The STOCH value of 87.41 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BEEP.

Mobile Infrastructure Corp Risk Analysis

Mobile Infrastructure Corp disclosed 83 risk factors in its most recent earnings report. Mobile Infrastructure Corp reported the most risks in the “Finance & Corporate” category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added 0 New Risks

Mobile Infrastructure Corp Peers Comparison

Overall Rating

UnderperformOutperform

Sector (62)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLD	77 Outperform	$90.18B	23.69	6.97%	4.10%	2.22%	23.71%
REXR	76 Outperform	$7.28B	26.55	3.38%	5.18%	17.48%	7.45%
KRC	65 Neutral	$3.55B	16.82	3.87%	7.26%	0.53%	-1.38%
SPG	63 Neutral	$55.87B	19.64	80.78%	5.57%	5.40%	8.57%
Sector *	62 Neutral	$7.62B	13.01	3.19%	3.32%	3.77%	-14.28%
BEEP	56 Neutral	$168.87M	―	-4.13%	―	22.25%	90.95%
HPP	49 Neutral	$310.62M	―	-11.53%	4.61%	-11.47%	-89.12%

* Industrials Sector Average

Performance Comparison

BEEP

Mobile Infrastructure Corp

3.95

0.30

8.22%

HPP

Hudson Pacific Properties

2.17

-3.57

-62.20%

KRC

Kilroy Realty

29.76

-1.24

-4.00%

PLD

Prologis

96.23

-15.74

-14.06%

SPG

Simon Property

148.20

12.68

9.36%

REXR

Rexford Industrial Realty

32.50

-10.82

-24.98%

Mobile Infrastructure Corp Earnings Call Summary

Earnings Call Date: Mar 10, 2025 | % Change Since: 16.18% | Next Earnings Date: May 14, 2025

Earnings Call Sentiment Positive

The earnings call highlighted significant achievements in asset conversion, revenue growth, financial strength, and strategic share repurchases. However, challenges such as high attrition rates and operational issues at the Detroit property present ongoing hurdles.

Highlights

Successful Conversion of Parking Assets

Mobile successfully converted 29 out of 40 parking assets from leases to management contracts, enhancing both revenue generation and expense reduction.

Revenue and Growth Metrics

Fourth quarter revenue increased by 16% to $9.2 million from $7.9 million in the previous year, with a full-year revenue increase of 22.3% to $37 million.

Financial Position Strengthening

Reduced preferred share balance from $39.5 million to $20.1 million, and completed $87.5 million of refinancings with debt maturities extended.

Asset Sales and Portfolio Optimization

Completed three asset sales at significant multiples of their net operating income as part of an ongoing asset rotation strategy, with plans for further sales.

Share Repurchase Program

Repurchased 420,000 shares, reflecting confidence in the company's undervalued stock, which is trading below its net asset value of $7.25 per share.

Lowlights

High Attrition Rates

Post-pandemic cancellations of corporate parking contracts led to attrition rates four times higher than in 2019, affecting new contract parking volumes.

Challenges at Detroit Property

The 1,273 space garage in Detroit faced significant pressure due to tenant relocations, with ongoing limitations on maintaining net operating income.

Increased Property Operating Expenses

Property operating expenses rose to $1.9 million from $0.5 million due to the shift to management contracts and related accounting treatments.

Company Guidance

During the Mobile Infrastructure Corporation's fourth quarter and full year 2024 earnings conference call, the company provided guidance for 2025, forecasting revenue between $37 million and $40 million. They expect to achieve a net operating income (NOI) ranging from $23.5 million to $25 million, marking a 7% growth at the midpoint compared to 2024. Additionally, the adjusted EBITDA is anticipated to be between $16.5 million and $18 million. The company also highlighted that these estimates exclude the effects of potential asset sales. Mobile Infrastructure emphasized the strategic shift to management contracts for 29 of their 40 parking assets, which is expected to optimize revenue generation and reduce expenses. The company plans further asset conversions in 2026 and 2027, aiming to enhance their portfolio and financial performance.

Mobile Infrastructure Corp Corporate Events

Private Placements and FinancingBusiness Operations and StrategyFinancial Disclosures

Mobile Infrastructure Corp Reports 2024 Financial Improvements

Positive

Mar 10, 2025

Mobile Infrastructure Corporation reported significant financial improvements for the fourth quarter and full year of 2024, including a narrowed net loss and increased revenues. The company successfully transitioned many assets to management contracts, enhancing operational control and analytics, and completed substantial refinancing to strengthen its balance sheet. Looking forward, Mobile Infrastructure plans to accelerate portfolio optimization from 2025 to 2027, with expectations of continued growth driven by trends such as increased demand for 24/7 parking access and potential developments near its locations.

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.