Filing Flows › Orion Properties (ONL) › Q2 2026 › vs Q1 2026
Orion Properties (ONL) Q2 2026 vs Q1 2026 (quarter over quarter)
Orion Properties's revenue fell $2.0M (-5%) from $36.3M in Q1 2026 to $34.3M in Q2 2026. The biggest changes: Rental Revenue −$2.0M (-6%); Fee income from unconsolidated joint venture +$69K (+50%). Operating margin 9.9% against -9.3% (+19.1 pts).
Orion Properties, Q2 2026: revenue $34.3M (-8% year over year), operating margin 9.9%, net earnings $24.6M, operating cash flow $16.1M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 9.9% | -9.3% | +19.1 pts |
| Net margin | 71.7% | -37.4% | +109.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Rental Revenue | $34.1M | $36.1M | −$2.0M | -6% |
| Fee income from unconsolidated joint venture | $206K | $137K | $69K | +50% |
| Revenue | $34.3M | $36.3M | −$2.0M | -5% |
| Other income, net | $21.3M | −$10.1M | $31.4M | — |
| Operating profit | $3.4M | −$3.4M | $6.8M | — |
| Costs & expenses | $30.9M | $39.6M | −$8.7M | -22% |
| Pre-tax earnings | $24.7M | −$13.5M | $38.2M | — |
| General & admin | $4.6M | $5.1M | −$529K | -10% |
| Other operating costs | $26.3M | $34.5M | −$8.2M | -24% |
| Net earnings | $24.6M | −$13.6M | $38.2M | — |
| Income tax | $71K | $71K | $0 | 0% |
| Depreciation & amortization | $13.5M | $13.2M | $361K | +3% |
| Share-based compensation | $814K | $868K | −$54K | -6% |
| Working capital & other | $22.8M | $8.2M | $14.7M | +179% |
| Operating cash flow | $16.1M | −$7.7M | $23.8M | — |
| Capital expenditures | $16.8M | $16.8M | $31K | +0.2% |
| Negative free cash flow (OCF − capex) | $766K | $24.5M | −$23.8M | -97% |
Questions
How much did Orion Properties's revenue grow quarter over quarter in Q2 2026?
Orion Properties's revenue fell $2.0M (-5%) from $36.3M in Q1 2026 to $34.3M in Q2 2026.
What drove Orion Properties's revenue change in Q2 2026?
Rental Revenue −$2.0M (-6%); Fee income from unconsolidated joint venture +$69K (+50%).