Dafinchi AI

Option Care Health, Inc.

OPCH

Healthcare

2w

Financial Performance Summary

Adjusted EBITDA grew 5.2% to $114 million, representing 8.1% of net revenue, and adjusted EPS increased 10.8% to $0.41.
Cash flow from operations exceeded $90 million in the quarter, with expectations to generate over $320 million for the full year.
Gross profit was $269 million, up almost 8% versus the prior year, despite gross margin rate pressure from lower-margin limited distribution and rare and orphan therapies.
Option Care Health delivered a strong second quarter with 15% revenue growth year-over-year, driven by mid-teens growth in both acute and chronic therapy portfolios.
The company repurchased $50 million in shares during the quarter, reflecting confidence in the business and its long-term potential.

Addus HomeCare Corporation

ADUS

Healthcare

2w

Financial Performance Summary

Addus HomeCare reported total revenue of $349.4 million for Q2 2025, a 21.8% increase from $286.9 million in Q2 2024.
Adjusted earnings per share increased 10.4% to $1.49 from $1.35 in the prior year quarter.
Adjusted EBITDA rose 24.5% to $43.9 million compared to $35.3 million in Q2 2024, with an adjusted EBITDA margin of 12.6%.
Cash on hand was approximately $91 million at quarter end, with bank debt reduced by $30 million to $173 million, resulting in net leverage under 1x adjusted EBITDA.
Gross margin was stable at 32.6%, with G&A expenses slightly improved to 20% of revenue on an adjusted basis.
Home Health segment revenue declined 6% year-over-year but showed improving profitability due to expense rightsizing.
Hospice segment showed 10% same-store revenue growth and a 7% increase in average daily census.
Personal Care Services segment drove growth with 7.4% organic revenue increase and represented 77% of total revenue.

PGNY

Healthcare

1w

Financial Performance Summary

Adjusted EBITDA grew 6% to $58 million, though adjusted EBITDA margin declined modestly to 17.4% due to increased investments.
As of June 30, Progyny had $305 million in cash and equivalents, no debt, and a new undrawn $200 million revolving credit facility.
Capital expenditures increased by $4 million to $5 million in Q2, reflecting investments in member experience and acquisition integration.
Excluding a large former client under a transition of care agreement, core revenue grew 18% year-over-year in Q2 and the first half of 2025.
Gross profit increased 16% to $79 million, with gross margin expanding to 23.7% from 22.5% a year ago.
Net income was $17.1 million or $0.19 per diluted share, compared to $16.5 million or $0.17 per diluted share a year ago.
Operating cash flow was $55.5 million in Q2 and $105 million in the first half, highlighting strong cash conversion.
Second quarter 2025 revenue grew 9.5% year-over-year to $332.9 million, driven by increased clients and covered lives.

Teladoc Health, Inc.

TDOC

Healthcare

2w

Financial Performance Summary

Adjusted EBITDA of $69.3 million was also at the upper end of the guidance range, representing a margin of 11%.
BetterHelp adjusted EBITDA was $11.9 million with a margin of 4.9%, in the upper half of guidance but down year-over-year due to lower revenue and investments in insurance initiative.
BetterHelp average paying users declined by roughly 9,000 sequentially to 388,000, 5% lower year-over-year.
BetterHelp segment revenue was $240.4 million, up slightly sequentially and just above midpoint of guidance.
Chronic care program enrollment at quarter end was 1.12 million, down versus the first quarter due to a contract loss, but underlying enrollment would have increased by a low single-digit percentage excluding that impact.
Ended quarter with $680 million in cash and cash equivalents after retiring $551 million in convertible senior notes.
Free cash flow was $61 million in the second quarter, slightly ahead of the prior year period, with year-to-date free cash flow up by $11 million compared to last year.
Integrated Care adjusted EBITDA was $57.5 million, margin of 14.7%, at the high end of guidance but down from 17% prior year due to prior year tailwinds.
Integrated Care segment revenue of $391.5 million increased 3.7% over the prior year period and exceeded the high end of guidance.
Net loss per share was $0.19, compared to a net loss per share of $4.92 in the second quarter of 2024, which included a $4.64 related to a pretax noncash goodwill impairment charge.
Second quarter consolidated revenue was $631.9 million, near the high end of the guidance range and down 1.6% year-over-year, driven by a decline at BetterHelp, offset to some extent by growth in Integrated Care revenues.
U.S. Integrated Care segment membership was 102.4 million members, up 11% year-over-year.
U.S. Integrated Care virtual visit volume increased by 6% versus the prior year period.

Alphatec Holdings, Inc.

ATEC

Healthcare

2w

Financial Performance Summary

Adjusted EBITDA reached a record $23 million, or 13% of revenue, marking a 4x improvement over the prior year same quarter.
Cash on hand was $157 million with an additional $60 million available on revolving credit, totaling $217 million in liquidity.
Free cash flow was $5 million, at the favorable end of the previously communicated $0 to $5 million range.
Non-GAAP gross margin was 70%, flat sequentially but down 130 basis points year-over-year due to product mix and biologics attach rate.
Non-GAAP R&D expense was $14 million, approximately 8% of sales, reflecting increased investment in long-term growth.
Non-GAAP SG&A was $108 million, about 58% of sales, down $4 million sequentially with improvements in variable and nonvariable expenses.
Q2 2025 total revenue was $186 million, up 27% year-over-year, with surgical revenue growing 29% to $168 million.
Trailing 12 months adjusted EBITDA stood at $62 million, demonstrating consistent margin expansion.

CDNA

Healthcare

1w

Financial Performance Summary

Adjusted EBITDA improved to $9.1 million from a loss of $0.3 million in Q2 2024.
Adjusted revenue for Q2 2025 was $90.5 million, up 14% year-over-year excluding prior period test revenue adjustments.
Cash from operations was $10 million, ending the quarter with $186 million in cash and no debt after a $50 million share repurchase.
Non-GAAP gross margin improved by 340 basis points to 70.4%, with Testing Services margin at 77.6%, Patient & Digital Solutions at 39.5%, and Lab Products at 63.9%.
Operating expenses increased 3% year-over-year to $56.7 million, well below revenue growth, reflecting operational leverage.
Patient & Digital Solutions revenue grew 19% to $12.8 million, and Lab Products revenue increased 12% to $11.8 million.
Reported revenue was $86.7 million, including a $3.8 million write-off related to prior period tests, down 6% year-over-year.
Testing Services revenue was $66 million adjusted, up 14% year-over-year with approximately 49,500 tests delivered, marking the eighth consecutive quarter of volume growth.

Edwards Lifesciences Corporation

EW

Healthcare

3w

Financial Performance Summary

Adjusted gross profit margin was 77.6%, down from 80% last year due to manufacturing expenses and foreign exchange impacts.
Adjusted operating profit margin improved to 28.2% benefiting from strong sales and deferred spending, with full year guidance at 27% to 28%.
Cash and cash equivalents stood at approximately $3 billion with $1 billion remaining in share repurchase authorization.
Edwards Lifesciences reported second quarter 2025 total sales of $1.53 billion, growing 10.6% year-over-year, driven by broad-based growth across structural heart therapies.
GAAP EPS was $0.57 including a onetime charge; adjusted EPS was $0.67, beating expectations.
Research and development expenses were $276 million or 18% of sales, reflecting strategic prioritization of structural heart investments.
Selling, general and administrative expenses were $502 million or 32.8% of sales, up from $448 million prior year, with increased spending expected in H2.
Surgical product group sales increased 6.8% to $267 million, supported by positive procedure growth and new product approvals.
TAVR sales reached $1.1 billion, up 7.8% globally with stable competitive positioning and pricing.
TMTT sales grew 57% to $133 million, reflecting strong adoption of PASCAL, EVOQUE, and the addition of SAPIEN M3.

EHAB

Healthcare

1w

Financial Performance Summary

Adjusted free cash flow year-to-date was $27.8 million with a 51.9% conversion rate, and debt was reduced by $10.5 million in the quarter.
Consolidated adjusted EBITDA was $26.9 million, up 6.7% year-over-year and 0.7% sequentially, with margin expanding 40 basis points to 10.1%.
Consolidated net revenue for Q2 2025 was $266.1 million, up 2.1% year-over-year and 2.4% sequentially.
Home health adjusted EBITDA was $39.3 million, up 2.6% sequentially but down 190 basis points in margin year-over-year due to mix shift.
Home health revenue was $205.9 million, down 2.0% year-over-year but up 2.6% sequentially, with volumes increasing 0.5% year-over-year and 2.1% sequentially.
Hospice revenue grew 19.4% year-over-year to $60.2 million, with adjusted EBITDA increasing 53.8% and margin expanding by 520 basis points to 23.3%.
Net debt to adjusted EBITDA leverage ratio improved to 4.3x from 5.1x in the prior year quarter.

Elevance Health Inc.

ELV

Healthcare

1mo

Financial Performance Summary

Adjusted operating expense ratio improved by 140 basis points to 10.0%.
Benefit expense ratio rose 260 basis points to 88.9%, mainly due to ACA and Medicaid cost pressures.
Carelon Rx revenue grew over 20%, while Carelon Services revenue and operating gain grew over 50%.
Debt-to-capital ratio was 40.8%, with $2 billion returned to investors year-to-date.
Elevance Health reported Q2 2025 GAAP diluted EPS of $7.72 and adjusted EPS of $8.84, consistent with expectations.
Medical membership declined by approximately 200,000 sequentially, primarily from Medicaid and ACA effectuation rates.
Operating cash flow was $2.1 billion for the quarter, with a full-year expectation of $6 billion reflecting revised outlook and working capital items.
Operating revenue increased 14% year-over-year to $49.4 billion, driven by higher premium yields and acquisitions.

HCA Healthcare, Inc.

HCA

Healthcare

3w

Financial Performance Summary

Adjusted EBITDA grew 8.4% over prior year quarter, with a substantial portion from core operations.
Adjusted EBITDA margin improved by 30 basis points compared to prior year quarter.
Cash flow from operations was $4.2 billion; capital expenditures were $1.2 billion; share repurchases were $2.5 billion; dividends were $171 million.
Contract labor improved to 4.3% of total labor costs from 4.6% in prior year quarter.
Equivalent admissions increased 1.7% for the quarter and 2.3% year-to-date.
Managed care equivalent admissions grew 4% year-to-date, Medicare grew 3%, Medicaid was slightly down, and self-pay was slightly up but below expectations.
Revenue grew 6.4%, driven by greater demand, improved payer mix, and consistent patient acuity.
Supply expense increased slightly due to cardiac-related device spending.
The company reported a 24% increase in diluted earnings per share as adjusted to $6.84 for Q2 2025.