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Side-by-side financial comparison of Orion Properties Inc. (ONL) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
Orion Properties Inc. is the larger business by last-quarter revenue ($36.3M vs $33.9M, roughly 1.1× Spok Holdings, Inc). Spok Holdings, Inc runs the higher net margin — 8.7% vs -37.4%, a 46.1% gap on every dollar of revenue. On growth, Spok Holdings, Inc posted the faster year-over-year revenue change (-0.1% vs -4.6%). Over the past eight quarters, Spok Holdings, Inc's revenue compounded faster (-1.5% CAGR vs -4.9%).
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
ONL vs SPOK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $36.3M | $33.9M |
| Net Profit | $-13.6M | $2.9M |
| Gross Margin | — | 76.7% |
| Operating Margin | -9.3% | 11.6% |
| Net Margin | -37.4% | 8.7% |
| Revenue YoY | -4.6% | -0.1% |
| Net Profit YoY | -45.0% | -19.6% |
| EPS (diluted) | $-0.24 | $0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $36.3M | — | ||
| Q4 25 | $35.2M | $33.9M | ||
| Q3 25 | $37.1M | $33.9M | ||
| Q2 25 | $37.3M | $35.7M | ||
| Q1 25 | $38.0M | $36.3M | ||
| Q4 24 | $38.4M | $33.9M | ||
| Q3 24 | $39.2M | $34.9M | ||
| Q2 24 | $40.1M | $34.0M |
| Q1 26 | $-13.6M | — | ||
| Q4 25 | $-35.8M | $2.9M | ||
| Q3 25 | $-69.0M | $3.2M | ||
| Q2 25 | $-25.1M | $4.6M | ||
| Q1 25 | $-9.4M | $5.2M | ||
| Q4 24 | $-32.8M | $3.6M | ||
| Q3 24 | $-10.2M | $3.7M | ||
| Q2 24 | $-33.8M | $3.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% |
| Q1 26 | -9.3% | — | ||
| Q4 25 | -101.5% | 11.6% | ||
| Q3 25 | -185.8% | 12.9% | ||
| Q2 25 | -67.1% | 15.1% | ||
| Q1 25 | -24.4% | 16.6% | ||
| Q4 24 | -85.4% | 13.7% | ||
| Q3 24 | -25.9% | 14.2% | ||
| Q2 24 | -84.1% | 13.2% |
| Q1 26 | -37.4% | — | ||
| Q4 25 | -101.7% | 8.7% | ||
| Q3 25 | -186.0% | 9.5% | ||
| Q2 25 | -67.3% | 12.8% | ||
| Q1 25 | -24.6% | 14.3% | ||
| Q4 24 | -85.4% | 10.8% | ||
| Q3 24 | -26.1% | 10.5% | ||
| Q2 24 | -84.2% | 10.1% |
| Q1 26 | $-0.24 | — | ||
| Q4 25 | $-0.63 | $0.13 | ||
| Q3 25 | $-1.23 | $0.15 | ||
| Q2 25 | $-0.45 | $0.22 | ||
| Q1 25 | $-0.17 | $0.25 | ||
| Q4 24 | $-0.59 | $0.17 | ||
| Q3 24 | $-0.18 | $0.18 | ||
| Q2 24 | $-0.60 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.3M | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $608.5M | $146.4M |
| Total Assets | $1.2B | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $10.3M | — | ||
| Q4 25 | $22.4M | $25.3M | ||
| Q3 25 | $32.6M | $21.4M | ||
| Q2 25 | $17.4M | $20.2M | ||
| Q1 25 | $9.4M | $19.9M | ||
| Q4 24 | $15.6M | $29.1M | ||
| Q3 24 | $16.6M | $27.8M | ||
| Q2 24 | $24.2M | $23.9M |
| Q1 26 | — | — | ||
| Q4 25 | $465.0M | — | ||
| Q3 25 | $483.0M | — | ||
| Q2 25 | $483.0M | — | ||
| Q1 25 | $505.0M | — | ||
| Q4 24 | $492.0M | — | ||
| Q3 24 | $485.0M | — | ||
| Q2 24 | $462.0M | — |
| Q1 26 | $608.5M | — | ||
| Q4 25 | $623.2M | $146.4M | ||
| Q3 25 | $658.8M | $148.7M | ||
| Q2 25 | $728.0M | $150.9M | ||
| Q1 25 | $753.5M | $151.7M | ||
| Q4 24 | $763.9M | $154.7M | ||
| Q3 24 | $800.9M | $156.3M | ||
| Q2 24 | $816.1M | $158.2M |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $206.1M | ||
| Q3 25 | $1.2B | $209.7M | ||
| Q2 25 | $1.3B | $208.7M | ||
| Q1 25 | $1.3B | $204.5M | ||
| Q4 24 | $1.3B | $217.1M | ||
| Q3 24 | $1.4B | $216.8M | ||
| Q2 24 | $1.3B | $216.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.66× | — | ||
| Q1 25 | 0.67× | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.61× | — | ||
| Q2 24 | 0.57× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $11.5M |
| Free Cash FlowOCF − Capex | — | $10.1M |
| FCF MarginFCF / Revenue | — | 29.9% |
| Capex IntensityCapex / Revenue | 51.4% | 4.1% |
| Cash ConversionOCF / Net Profit | — | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $23.6M | $11.5M | ||
| Q3 25 | $5.7M | $8.1M | ||
| Q2 25 | $11.6M | $7.0M | ||
| Q1 25 | $-2.2M | $2.3M | ||
| Q4 24 | $54.3M | $8.4M | ||
| Q3 24 | $13.8M | $11.1M | ||
| Q2 24 | $17.0M | $7.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | — | $6.0M | ||
| Q1 25 | — | $1.5M | ||
| Q4 24 | — | $7.5M | ||
| Q3 24 | — | $10.3M | ||
| Q2 24 | — | $6.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 29.9% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 22.3% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 20.0% |
| Q1 26 | 51.4% | — | ||
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.93× | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 3.03× | ||
| Q2 24 | — | 2.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ONL
| Rental | $36.1M | 100% |
| Fee income from unconsolidated joint venture | $137.0K | 0% |
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
