# Orion Properties Inc.: overview

ONL · NYSE · CIK 1873923 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/onl.md) · [Financials](/companies/onl/financials.md) · [Filings](/companies/onl/filings.md) · [Insiders](/companies/onl/insiders.md)

Latest reported revenue: [$34.3m](/filings/0001873923-26-000107.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax, accession 0001873923-26-000107).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [39.2](/filings/0001873923-25-000130.md) | [38.4 d](/filings/0001873923-26-000038.md) | [38.0](/filings/0001873923-26-000082.md) | [37.3](/filings/0001873923-26-000107.md) | [37.1](/filings/0001873923-25-000130.md) | [35.2 d](/filings/0001873923-26-000038.md) | [36.3](/filings/0001873923-26-000082.md) | [34.3](/filings/0001873923-26-000107.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [(26.1%)](/filings/0001873923-25-000130.md) | [(85.4%) d](/filings/0001873923-26-000038.md) | [(24.6%)](/filings/0001873923-26-000082.md) | [(67.3%)](/filings/0001873923-26-000107.md) | [(186.0%)](/filings/0001873923-25-000130.md) | [(101.7%) d](/filings/0001873923-26-000038.md) | [(37.4%)](/filings/0001873923-26-000082.md) | [71.7%](/filings/0001873923-26-000107.md) |
| Diluted EPS | $ per share | [(0.18)](/filings/0001873923-25-000130.md) | not reported | [(0.17)](/filings/0001873923-26-000082.md) | [(0.45)](/filings/0001873923-26-000107.md) | [(1.23)](/filings/0001873923-25-000130.md) | not reported | [(0.24)](/filings/0001873923-26-000082.md) | [0.42](/filings/0001873923-26-000107.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [79.7](/filings/0001873923-24-000008.md) | [208](/filings/0001873923-25-000032.md) | [195](/filings/0001873923-26-000038.md) | [165](/filings/0001873923-26-000038.md) | [148](/filings/0001873923-26-000038.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [(59.6%)](/filings/0001873923-24-000008.md) | [(46.8%)](/filings/0001873923-25-000032.md) | [(29.4%)](/filings/0001873923-26-000038.md) | [(62.5%)](/filings/0001873923-26-000038.md) | [(94.4%)](/filings/0001873923-26-000038.md) |
| Diluted EPS | $ per share | [(0.84)](/filings/0001873923-24-000008.md) | [(1.72)](/filings/0001873923-25-000032.md) | [(1.02)](/filings/0001873923-26-000038.md) | [(1.84)](/filings/0001873923-26-000038.md) | [(2.48)](/filings/0001873923-26-000038.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/onl/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [PRIVATE MANAGEMENT GROUP INC](/funds/1142031.md) | 2026-06-30 | $15.5m | 5,357,303 |  | Reduced −38,172 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $12.7m | 4,377,992 |  | Added +2,933,779 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $7.0m | 2,427,008 |  | Added +45,118 |
| [RENAISSANCE TECHNOLOGIES LLC](/funds/1037389.md) | 2026-06-30 | $5.4m | 1,865,800 |  | Added +159,700 |
| [J. Goldman & Co LP](/funds/1412741.md) | 2026-06-30 | $4.0m | 1,385,479 |  | Reduced −1,231,417 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $3.8m | 1,325,780 |  | Added +734,885 |
| [RBF Capital, LLC](/funds/1134621.md) | 2026-06-30 | $2.9m | 1,000,000 |  | Unchanged |
| [MARSHALL WACE, LLP](/funds/1318757.md) | 2026-06-30 | $2.2m | 768,187 |  | Added +316,552 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $2.0m | 708,069 |  | Added +262,145 |
| [Rangeley Capital, LLC](/funds/1517796.md) | 2026-06-30 | $1.7m | 578,567 |  | Reduced −336,433 |

## Recent filings

[All 290 filings](/companies/onl/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-06 | 16:34 ET | [10-Q](/filings/0001873923-26-000107.md) | Quarterly report, period 2026-06-30 | 0001873923-26-000107 |
| 2026-08-06 | 16:26 ET | [8-K](/filings/0001873923-26-000105.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001873923-26-000105 |
| 2026-05-13 | 16:42 ET | [8-K](/filings/0001873923-26-000085.md) | 5.07 Shareholder vote results | 0001873923-26-000085 |
| 2026-05-07 | 16:18 ET | [10-Q](/filings/0001873923-26-000082.md) | Quarterly report, period 2026-03-31 | 0001873923-26-000082 |
| 2026-05-07 | 16:14 ET | [8-K](/filings/0001873923-26-000081.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001873923-26-000081 |
| 2026-03-20 | 16:05 ET | [DEF 14A](/filings/0001873923-26-000073.md) | Proxy statement, period 2026-05-13 | 0001873923-26-000073 |
| 2026-03-05 | 16:18 ET | [10-K](/filings/0001873923-26-000038.md) | Annual report, period 2025-12-31 | 0001873923-26-000038 |
| 2026-03-05 | 16:16 ET | [8-K](/filings/0001873923-26-000037.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001873923-26-000037 |
| 2026-02-19 | 08:03 ET | [8-K](/filings/0001873923-26-000023.md) | 1.01 Entry into a material agreement; 1.02 Termination of a material agreement; 2.03 New direct financial obligation; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001873923-26-000023 |
| 2026-01-26 | 15:24 ET | [SCHEDULE 13D/A](/filings/0001534242-26-000002.md) | Ownership report, active investor, amended | 0001534242-26-000002 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001873923-26-000038.md), filed Mar 5, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/4cea85ed-1534-4480-9f8c-4abe89d8f525)

## About the filer

- CIK: 1873923
- Tickers: ONL
- Exchange: NYSE
- SIC code: 6798 Real Estate Investment Trusts
- State of incorporation: MD
- Filer category: Accelerated filer<br>Smaller reporting company<br>Emerging growth company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:49 ET. No prices; not investment advice.