Filing Flows › Net Lease Office Properties (NLOP) › Q4 2025
Net Lease Office Properties (NLOP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Net Lease Office Properties (NLOP) reported revenue of $30.7M for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and +3% from the quarter before. Operating margin was 21.4%, net loss $17K (0.1% of revenue).
Net Lease Office Properties, Q4 2025: revenue $30.7M (+11% year over year), operating margin 21.4%, net loss $17K, operating cash flow $22.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $30.7M | +3% | +11% |
| Operating profit | $6.6M | — | — |
| Net earnings | −$17K | — | — |
| Operating cash flow | $22.0M | +34% | +109% |
What changed
Revenue was $30.7M in Q4 2025, up 11% year over year and up 3% from the previous quarter.
Operating profit was $6.6M, a 21.4% margin (up 123.2 points year over year). Total costs fell 57% while revenue rose 11%. The quarter ended with a net loss of $17K, narrower than the previous quarter's $64.1M loss. Net interest and other expense of $6.7M was the main reason.
Operating cash flow was $22.0M (up 109% year over year). Non-cash charges added back $7.5M of depreciation and amortization. Working capital and other items added $14.5M.
Questions
What was Net Lease Office Properties' revenue in the fourth quarter 2025?
Net Lease Office Properties (NLOP) reported revenue of $30.7M for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and +3% from the quarter before.
Was Net Lease Office Properties profitable in the fourth quarter 2025?
Operating profit was $6.6M (21.4% of revenue) and net loss $17K.