Synonyms that are in the dictionary are marked in green. Synonyms that are not in the dictionary are marked in red.
Antonyms that are in the dictionary are marked in green. Antonyms that are not in the dictionary are marked in red.
And I think, lastly, you did ask the G&A -- about G&A.
And I think, lastly, you did ask the G&A -- about G&A.
And then just with some of the headcount reduction, should we expect the majority of that to come out of G&A?
But curious, if you could provide any thoughts on G&A in 2023, anything on investment there?
First quarter results were ahead of plan, as David mentioned, due to a number of operational factors, including higher than forecast occupancy and ancillary income, earlier rent commencements and lower than expected G&A.
G&A and R&D expenses were $14.7 million and $5.5 million in Q3 2023 versus $14.9 million and $9.2 million in Q2 2022 respectively.
G&A declined $3 million sequentially, improved 140 basis points as a percentage of revenue to 11.4%.
G&A expenses were $11.9 million, 39% higher compared to the first quarter of 2022.
G&A is expected to increase approximately $3.8 million and decrease FFO by approximately $0.05 per FFO share in 2023.
General and Administrative (G&A) expenses: G&A expenses were $8.2 million for the three months ended June 30, 2023, compared to $8.3 million for the same period in 2022.
General and Administrative (G&A) expenses: G&A expenses were $8.2 million for the three months ended June 30, 2023, compared to $8.3 million for the same period in 2022.
Lastly, our G&A expenses increased 27% to $3 million for the fourth quarter.
On the G&A side, there’s a couple of things going on there, we see an increase.
Selling and G&A expenses as a percentage of revenue fell 2.2% year-over-year, a positive signal indicating greater efficiency in generating incremental revenue.
The increase was due to higher R&D, sales and marketing and G&A cost in support of new customer and new product activities and a boost in the post-COVID travel activities.
This was offset by increased G&A expenses which were $10.1 million for the full year 2022 compared to $9.5 million in 2021.
We continue to expect full year 2023 recurring cash G&A to be in the range of $20 to $22 million, excluding the $2.5 million in warrant exchange transaction costs incurred in the second quarter.
We expect G&A to increase 5% to 7% from the $52.6 million we recorded in 2022, which is lower than the 9% to 11% increase noted on last quarter's call.