Orion Properties Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Net Loss Per Share

Net Loss Per Share

3 Months Ended

Mar. 31, 2026

Note 14 – Net Loss Per Share

The computation of basic and diluted earnings per share is as follows for the periods indicated below (in thousands, except per share data):


	Three Months Ended March 31,
	2026		2025
Net loss	$	(13,568)	$	(9,355)
Net income attributable to non-controlling interest	(10)		(6)
Net loss attributable to common stockholders and used in basic and diluted net loss per share	(13,578)		(9,361)

Weighted average shares of common stock outstanding - basic	56,565		56,043
Effect of dilutive securities (1)	—		—
Weighted average shares of common stock - diluted	56,565		56,043

Basic and diluted net loss per share attributable to common stockholders	$	(0.24)	$	(0.17)

____________________________________

(1)There were no adjustments to the weighted average common shares outstanding used in the diluted calculation given that all potentially dilutive shares were antidilutive for the three months ended March 31, 2026 and 2025.

The following were excluded from diluted net loss per share attributable to common stockholders during the periods indicated below, as the effect would have been antidilutive (in thousands):


	Three Months Ended March 31,
	2026	2025
Weighted average unvested Time-Based RSUs and Performance-Based RSUs (1)	698	267
Weighted average stock warrants	1,120	1,120

____________________________________

(1)Net of assumed purchases in accordance with the treasury stock method and exclude Performance-Based RSUs for which the performance thresholds have not been met by the end of the applicable reporting period.