INTG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-11

• Additional forward-looking risks specific to the San Francisco hospitality market include:

• ●Broader municipal issues affecting the city’s perception among travelers; and

• ●Potential impacts from macroeconomic trends on leisure travel demand.

• Management will continue to monitor these conditions and adjust operations and capital allocation as appropriate.

• The Company had net income of $595,000 for the three months ended March 31, 2026 compared to net loss of $750,000 for the three months ended March 31, 2025. Net income attributable to The InterGroup Corporation was $457,000 for the three months ended March 31, 2026 compared to a net loss attributabl…

Text removed vs the prior filing · source: 10-Q · 2026-02-12

• The Company had net income of $962,000 for the three months ended December 31, 2025 compared to net loss of $3,697,000 for the three months ended December 31, 2024. Net income attributable to The InterGroup Corporation was $1,515,000 for the three months ended December 31, 2025 compared to a net los…

• The Company had net loss from Hotel operations of $1,091,000 for the three months ended December 31, 2025 compared to net loss of $2,838,000 for the three months ended December 31, 2024. The decrease in net loss primarily reflected higher revenues from returning renovated administrative office space…

• The following table sets forth a more detailed presentation of Hotel operations for the three months ended December 31, 2025 and 2024:

• Operating expenses excluding depreciation and amortization (10,427,000) (9,055,000)

• For the three months ended December 31, 2025, total Hotel revenues were $12,661,000, compared to $9,965,000 for the three months ended December 31, 2024, an increase of $2,696,000, or 27%, primarily due to higher room revenue. Operating expenses (excluding depreciation and amortization) were $10,427…

Text added vs the prior filing · source: 10-Q · 2026-05-11

• The material weakness related to the design and operation of controls over the interpretation and accounting for stock-based compensation.

• During the quarter ended March 31, 2026, the Company implemented remediation measures, including the adoption of an equity management tool to support the calculation and accounting for stock-based compensation. This tool is intended to enhance the accuracy and consistency of valuation and expense re…

• In light of the material weakness, management performed additional analyses and other procedures to ensure that the financial statements included in this Form 10-Q are prepared in conformity with U.S. GAAP. Management believes that the financial statements included in this report present fairly, in …

• Management will continue to evaluate the effectiveness of the enhanced controls, including the use of the equity management tool, and will consider the material weakness remediated only after the controls have operated for a sufficient period and have been tested successfully.

• During the quarter ended March 31, 2026, the Company implemented changes to its internal control over financial reporting related to the remediation of the previously identified material weakness in stock-based compensation. These changes included the implementation of an equity management tool to i…

Text removed vs the prior filing · source: 10-Q · 2026-02-12

• A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis. Management i…

• Considering this material weakness, management performed additional analysis and other procedures to ensure the financial statements in this Form 10-Q are prepared in conformity with U.S. GAAP. Management believes the financial statements included in this report present fairly, in all material respe…

• Management is in the process of remediating the material weakness and plans to: (i) formalize and implement a comprehensive stock-based compensation accounting policy, including grant-date measurement, modification accounting, and related income-tax effects; (ii) enhance review controls over the cla…

• There were no changes in the Company’s internal control over financial reporting during the quarter ended December 31, 2025 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting, other than the matters described above un…