Filing Flows › Belpointe Prep, LLC (OZ) › Q1 2026
Belpointe Prep, LLC (OZ) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 13, 2026
Belpointe Prep, LLC (OZ) reported revenue of $4.2M for the first quarter 2026 (Q1 2026), +144% from a year earlier and +38% from the quarter before. Operating margin was -252.0%, net loss $10.7M (252.0% of revenue).
Belpointe Prep, LLC, Q1 2026: revenue $4.2M (+144% year over year), operating margin -252.0%, net loss $10.7M, operating cash flow −$6.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.2M | +38% | +144% |
| Operating profit | −$10.7M | — | — |
| Net earnings | −$10.7M | — | — |
| Operating cash flow | −$6.1M | — | — |
What changed
Revenue was $4.2M in Q1 2026, up 144% year over year and up 38% from the previous quarter.
Operating costs exceeded revenue by $10.7M, an operating margin of -252.0%. Total costs grew 44% against revenue growth of 144%. The fastest-growing cost line was Other operating costs (+50%). The quarter ended with a net loss of $10.7M, narrower than the previous quarter's $11.7M loss. Minority interests bore $8K of it: to shareholders the quarter was a loss of $10.7M.
Operating cash flow was −$6.1M. Non-cash charges added back $3.8M of depreciation and amortization. Working capital and other items added $816K. Capital expenditures of $10.2M exceeded it, leaving free cash flow of −$16.3M.
Questions
What was Belpointe Prep, LLC's revenue in the first quarter 2026?
Belpointe Prep, LLC (OZ) reported revenue of $4.2M for the first quarter 2026 (Q1 2026), +144% from a year earlier and +38% from the quarter before.
Was Belpointe Prep, LLC profitable in the first quarter 2026?
Operating loss was $10.7M (-252.0% of revenue) and net loss $10.7M.