Filing Flows › Orion Group Holdings (ORN) › Q4 2025
Orion Group Holdings (ORN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 4, 2026
Orion Group Holdings (ORN) reported revenue of $233M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +4% from the quarter before. Operating margin was 2.2%, net loss $240K (0.1% of revenue).
Orion Group Holdings, Q4 2025: revenue $233M (+8% year over year), operating margin 2.2%, net loss $240K, operating cash flow $13.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $233M | +4% | +8% |
| Operating profit | $5.0M | -6% | — |
| Net earnings | −$240K | -107% | — |
| Operating cash flow | $13.8M | -41% | +3% |
| Free cash flow | $454K | -97% | -95% |
What changed
Revenue was $233.2M in Q4 2025, up 8% year over year and up 4% from the previous quarter. Marine Segment was the largest line at 60% of revenue.
Gross margin was 11.6%, down 2.4 points from a year earlier. Operating profit was $5.0M, a 2.2% margin (down 2.3 points year over year). Operating profit fell $4.6M even though revenue rose $16.3M versus a year earlier, so costs grew faster than sales. Operating expenses grew 7% against revenue growth of 8%. The quarter ended with a net loss of $240K, after a profit of $3.3M the previous quarter. Net interest and other expense of $5.1M was the main reason.
Operating cash flow was $13.8M (up 3% year over year). Non-cash charges added back $3.6M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $9.0M. Capital expenditures of $13.4M left free cash flow of $454K.
Questions
What was Orion Group Holdings' revenue in the fourth quarter 2025?
Orion Group Holdings (ORN) reported revenue of $233M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +4% from the quarter before.
Was Orion Group Holdings profitable in the fourth quarter 2025?
Operating profit was $5.0M (2.2% of revenue) and net loss $240K.