Filing Flows › Net Lease Office Properties (NLOP) › Q3 2025
Net Lease Office Properties (NLOP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Net Lease Office Properties (NLOP) reported revenue of $29.8M for the third quarter 2025 (Q3 2025), -5% from a year earlier and +2% from the quarter before. Operating margin was -133.4%, net loss $64.1M (215.4% of revenue).
Net Lease Office Properties, Q3 2025: revenue $29.8M (-5% year over year), operating margin -133.4%, net loss $64.1M, operating cash flow $16.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $29.8M | +2% | -5% |
| Operating profit | −$39.7M | — | — |
| Net earnings | −$64.1M | — | — |
| Operating cash flow | $16.3M | +39% | -20% |
What changed
Revenue was $29.8M in Q3 2025, down 5% year over year and up 2% from the previous quarter.
Operating costs exceeded revenue by $39.7M, an operating margin of -133.4%. Total costs grew 17% against a revenue fall of 5%. The fastest-growing cost line was Other operating costs (+18%). The quarter ended with a net loss of $64.1M, narrower than the previous quarter's $81.5M loss.
Operating cash flow was $16.3M (down 20% year over year). Non-cash charges added back $9.0M of depreciation and amortization. Working capital and other items added $71.5M.
Questions
What was Net Lease Office Properties' revenue in the third quarter 2025?
Net Lease Office Properties (NLOP) reported revenue of $29.8M for the third quarter 2025 (Q3 2025), -5% from a year earlier and +2% from the quarter before.
Was Net Lease Office Properties profitable in the third quarter 2025?
Operating loss was $39.7M (-133.4% of revenue) and net loss $64.1M.