Orion Properties Inc. Earnings Per Share Disclosure
| Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| Net loss | $ | (139,286) | $ | (102,976) | $ | (57,311) | ||||||||||||||
| Net (income) loss attributable to non-controlling interest | (23) | (36) | 9 | |||||||||||||||||
| Net loss attributable to common stockholders and used in basic and diluted net loss per share | (139,309) | (103,012) | (57,302) | |||||||||||||||||
| Weighted average shares of common stock outstanding - basic | 56,232 | 55,903 | 56,410 | |||||||||||||||||
Effect of dilutive securities (1) | — | — | — | |||||||||||||||||
| Weighted average shares of common stock - diluted | 56,232 | 55,903 | 56,410 | |||||||||||||||||
| Basic and diluted net loss per share attributable to common stockholders | $ | (2.48) | $ | (1.84) | $ | (1.02) | ||||||||||||||
| Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
Weighted average unvested Time-Based RSUs and Performance-Based RSUs (1) | 80 | 74 | — | |||||||||||||||||
| Weighted average stock warrants | 1,120 | 1,120 | 1,120 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Mar 5, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Mar 8, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.