Filing Flows › Franklin Street Properties (FSP) › Q4 2025
Franklin Street Properties (FSP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 9, 2026
Franklin Street Properties (FSP) reported revenue of $26.0M for the fourth quarter 2025 (Q4 2025), -8% from a year earlier and -5% from the quarter before. Operating margin was -28.8%, net loss $7.3M (28.1% of revenue).
Franklin Street Properties, Q4 2025: revenue $26.0M (-8% year over year), operating margin -28.8%, net loss $7.3M, operating cash flow $3.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.0M | -5% | -8% |
| Operating profit | −$7.5M | — | — |
| Net earnings | −$7.3M | — | — |
| Operating cash flow | $3.8M | -54% | +70% |
| Free cash flow | $24K | -99% | — |
What changed
Revenue was $26.0M in Q4 2025, down 8% year over year and down 5% from the previous quarter.
Operating costs exceeded revenue by $7.5M, an operating margin of -28.8%. Total costs fell 8% while revenue fell 8%. The quarter ended with a net loss of $7.3M, narrower than the previous quarter's $8.3M loss.
Operating cash flow was $3.8M (up 70% year over year). Non-cash charges added back $11.3M of depreciation and amortization. Capital expenditures of $3.8M left free cash flow of $24K.
Questions
What was Franklin Street Properties' revenue in the fourth quarter 2025?
Franklin Street Properties (FSP) reported revenue of $26.0M for the fourth quarter 2025 (Q4 2025), -8% from a year earlier and -5% from the quarter before.
Was Franklin Street Properties profitable in the fourth quarter 2025?
Operating loss was $7.5M (-28.8% of revenue) and net loss $7.3M.