Office Properties Income Trust reported fiscal 2025 results with revenue of $442.6M and a net loss of $(272.4) M, producing a diluted loss per share of $(3.79), each result worsening versus fiscal 2024 — figures are drawn from the company's Form 10-K filing.

Financial Highlights

• Revenue was $442.6M for FY 2025, compared with $502.0M in FY 2024; YoY change (11.8%).
• Net income was a loss of $(272.4) M for FY 2025, versus a loss of $(136.1) M in FY 2024.
• Diluted EPS was a loss of $(3.79) for FY 2025, compared with a loss of $(2.63) in FY 2024.

Business Highlights

• Portfolio composition: As of December 31, 2025 the REIT owned 122 office properties totaling about 17.1M sq ft across 29 states and DC, leased to 212 tenants; the Washington, D.C. market accounted for roughly 22.6% of rent.
• Occupancy and leasing: Consolidated percent leased declined to 78.2% in 2025 amid rising vacancies; weighted average unexpired lease term (WAULT) was 6.6 years and the company completed about 974K sq ft of new and renewal leasing activity in 2025.
• Revenue mix and tenant credit: The U.S. government remained the largest single tenant at 17.2% of rent, and approximately 59.5% of rental income was from investment-grade tenants, supporting cash stability.
• Operations and capital: Management reduced capital expenditures in 2025, converted a mixed‑use lease to hotel management, and continued redevelopment and leasing spend commitments on select assets.
• Outlook and risks: The company noted demand headwinds from remote work trends, shifts in government occupancy and an uncertain leasing environment that could pressure rents, increase vacancy and raise re-letting costs.

Original SEC Filing: OFFICE PROPERTIES INCOME TRUST [ OPI ] - 10-K - May. 22, 2026