Filing Flows › Hudson Pacific Properties (HPP) › Q1 2026 › vs Q4 2025
Hudson Pacific Properties (HPP) Q1 2026 vs Q4 2025 (quarter over quarter)
Hudson Pacific Properties's revenue fell $74.2M (-29%) from $256M in Q4 2025 to $182M in Q1 2026. The biggest changes: Office −$71.8M (-33%); Studio −$2.4M (-7%).
Hudson Pacific Properties, Q1 2026: revenue $182M (-8% year over year), operating margin -27.8%, net loss $50.9M, operating cash flow $44.3M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 10.9% | 9.5% | +1.4 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Office | $149M | $220M | −$71.8M | -33% |
| Studio | $33.2M | $35.6M | −$2.4M | -7% |
| Revenue | $182M | $256M | −$74.2M | -29% |
| Net loss | $50.9M | $280M | −$229M | -82% |
| Costs & expenses | $233M | $537M | −$304M | -57% |
| Operating costs | $232M | $537M | −$305M | -57% |
| Income tax | $348K | −$945K | $1.3M | — |
| Cost of revenue | $102M | $102M | −$941K | -0.9% |
| General & admin | $12.6M | $13.0M | −$410K | -3% |
| Other operating costs | $118M | $422M | −$303M | -72% |
| Operating cash sources | $95.2M | $339M | −$244M | -72% |
| Depreciation & amortization | $80.7M | $93.0M | −$12.3M | -13% |
| Share-based compensation | $1.9M | $3.8M | −$1.9M | -49% |
| Working capital & other | $12.5M | $243M | −$230M | -95% |
| Net loss absorbed | $50.9M | $280M | −$229M | -82% |
| Operating cash flow | $44.3M | $59.3M | −$15.0M | -25% |
| Free cash flow (OCF − capex) | $19.9M | $24.4M | −$4.5M | -18% |
| Capital expenditures | $24.4M | $34.9M | −$10.5M | -30% |
Questions
How much did Hudson Pacific Properties's revenue grow quarter over quarter in Q1 2026?
Hudson Pacific Properties's revenue fell $74.2M (-29%) from $256M in Q4 2025 to $182M in Q1 2026.
What drove Hudson Pacific Properties's revenue change in Q1 2026?
Office −$71.8M (-33%); Studio −$2.4M (-7%).