OLPHIGH SIGNALFINANCIAL10-K

OLP shows massive 305% revenue growth alongside concerning cash depletion of 66% and significant leverage increase.

The dramatic revenue surge from $20.4M to $82.7M suggests major acquisitions or portfolio expansion, but the simultaneous 66% cash burn and 22% liability increase raises questions about financing sustainability. The combination of aggressive growth with deteriorating liquidity metrics and nearly doubled share buybacks creates a potentially unstable financial profile that warrants close monitoring.

Comparing 2026-03-06 vs 2025-03-06View on EDGAR →
FINANCIAL ANALYSIS

OLP experienced explosive revenue growth of 305% to $82.7M, likely from aggressive property acquisitions, but this came at significant financial cost with cash reserves plummeting 66% to just $14.4M while total liabilities surged 22% to $557.8M. Despite the revenue surge, net income declined 16% and the company increased share buybacks by 84% to $9.6M, creating a concerning picture of rapid expansion funded through debt and cash depletion that may challenge future liquidity and financial flexibility.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+304.9%
$20.4M$82.7M

Strong top-line growth of 304.9% — accelerating demand or successful expansion into new markets.

Provision for Credit Losses
P&L
-125.1%
$467K-$117K

Provisions reduced 125.1% — improving credit quality or reserve release boosting reported earnings.

Share Buybacks
Cash Flow
+83.9%
$5.2M$9.6M

Share repurchases increased 83.9% — management returning capital, signals confidence in intrinsic value.

Cash & Equivalents
Balance Sheet
-65.9%
$42.3M$14.4M

Cash declined 65.9% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Total Liabilities
Balance Sheet
+21.7%
$458.4M$557.8M

Liabilities increased 21.7% — monitor debt-to-equity ratio and interest coverage.

Net Income
P&L
-16.3%
$30.4M$25.5M

Net income declined 16.3% — review whether driven by operations, interest costs, or non-recurring items.

Total Assets
Balance Sheet
+11.8%
$767.0M$857.6M

Asset base grew 11.8% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-03-06
PRIOR — 2025-03-06
ADDED
As of February 27, 2026, the registrant had 21,813,127 shares of common stock outstanding.
Management s Discussion and Analysis of Financial Condition and Results of Operations 27 7A.
Changes In and Disagreements With Accountants on Accounting and Financial Disclosure 41 9A.
we present information regarding our 2026 base rent which does not reflect, among other things, variable rent (including amounts tenants are required to reimburse us) or the adjustments required by United States ( U.S.
( BRT ), a NYSE listed multi-family REIT and Majestic Property Management LLC ( Majestic Property ), a property management company which compensates certain of our executive officers, and which is indirectly owned by, among others, Matthew J.
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REMOVED
As of February 28, 2025, the registrant had 21,586,978 shares of common stock outstanding.
Management s Discussion and Analysis of Financial Condition and Results of Operations 31 7A.
Changes In and Disagreements With Accountants on Accounting and Financial Disclosure 46 9A.
The interest rate on most of our variable rate mortgage debt has been fixed through the use of interest rate swap agreements.
In addition to our being liable for standard carve-outs , we may also be liable, at the parent company level, for swap breakage losses on otherwise non-recourse mortgage debt that is subject to an interest rate swap agreement, if such agreement is terminated prior to its stated expiration.
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