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How Orion Properties (ONL) makes money

Orion Properties (ONL) made $35.4M of revenue in the third quarter 2026 (Q3 2026), -5% from a year earlier. Rental Revenue brought in $35.2M (99%); Fee income from Unconsolidated Joint Venture brought in $198K (1%).

Drawing the Sankey…

Orion Properties revenue by segment, Q3 2026Orion Properties revenue by segment, Q3 2026Rental Revenue$35.2MFee income from Unconsolidated Jo…$198K
Orion Properties: revenue by line, Q1 2025 to Q3 2026Orion Properties: revenue by line, Q1 2025 to Q3 2026Rental RevenueFee income from Uncon…Rental Revenue: $35.2M latest$35.2MFee income from Unconsolidated Joint Venture: $198K latestQ1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
The mix barely moved between Q1 2025 and Q3 2026.
Orion Properties revenue by quarterOrion Properties revenue by quarter$38.0MQ1 2025$37.3MQ2 2025$37.1MQ3 2025$35.2MQ4 2025$36.3MQ1 2026$34.3MQ2 2026$35.4MQ3 2026
Orion Properties: where each dollar of revenue goesOrion Properties: where each dollar of revenue goesIncome tax0¢Operating cash flow28¢Free cash flow6¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Rental Revenue$35.2M99.4%+3%-5%
Fee income from Unconsolidated Joint Venture$198K0.6%-4%-3%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$35.4M100.0%
Income tax$69K0.2%
Operating cash flow$10.0M28.2%
Free cash flow$2.0M5.8%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$35.4M-4%
Q2 2026$34.3M-8%
Q1 2026$36.3M-5%
Q4 2025$35.2M-8%
Q3 2025$37.1M-5%
Q2 2025$37.3M-7%
Q1 2025$38.0M-20%

From Orion Properties' 10-Q filed Nov 5, 2026 (on EDGAR).

Questions

How does Orion Properties make money?

Orion Properties (ONL) made $35.4M of revenue in the third quarter 2026 (Q3 2026), -5% from a year earlier. Rental Revenue brought in $35.2M (99%); Fee income from Unconsolidated Joint Venture brought in $198K (1%).

What is Orion Properties' biggest business?

Rental Revenue: $35.2M in the third quarter 2026, 99% of revenue, -5% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.