Filing Flows › Orion Properties (ONL) › Q1 2026
Orion Properties (ONL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Orion Properties (ONL) reported revenue of $36.3M for the first quarter 2026 (Q1 2026), -5% from a year earlier and +3% from the quarter before. Operating margin was -9.3%, net loss $13.6M (37.4% of revenue).
Orion Properties, Q1 2026: revenue $36.3M (-5% year over year), operating margin -9.3%, net loss $13.6M, operating cash flow −$7.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $36.3M | +3% | -5% |
| Operating profit | −$3.4M | — | — |
| Net earnings | −$13.6M | — | — |
| Operating cash flow | −$7.7M | -191% | — |
What changed
Revenue was $36.3M in Q1 2026, down 5% year over year and up 3% from the previous quarter. Rental Revenue was the largest line at 100% of revenue. Rental Revenue lost $1.7M year over year (down 4%), 96% of the total change.
Operating costs exceeded revenue by $3.4M, an operating margin of -9.3%. Total costs grew 1% against a revenue fall of 5%. The quarter ended with a net loss of $13.6M, narrower than the previous quarter's $35.8M loss. Net interest and other expense of $10.1M was the main reason.
Operating cash flow was −$7.7M. Non-cash charges added back $13.2M of depreciation and amortization and $868K of share-based compensation. Working capital and other items used $8.2M. Capital expenditures of $16.8M exceeded it, leaving free cash flow of −$24.5M.
Questions
What was Orion Properties' revenue in the first quarter 2026?
Orion Properties (ONL) reported revenue of $36.3M for the first quarter 2026 (Q1 2026), -5% from a year earlier and +3% from the quarter before.
Was Orion Properties profitable in the first quarter 2026?
Operating loss was $3.4M (-9.3% of revenue) and net loss $13.6M.
Source: Orion Properties 10-Q on SEC EDGAR.