Option Care Health Announces Financial Results for the First Quarter Ended March 31, 2025
Option Care Health reported strong Q1 2025 financial results, with net revenue reaching $1.33 billion, up 16.3% from Q1 2024. The company, America's largest independent provider of home and alternate site infusion services, saw its gross profit rise 10.3% to $263.1 million.
Key financial highlights include:
- Net income of $46.7 million, with diluted earnings per share of $0.28
- Adjusted EBITDA increased 13.7% to $111.8 million
- Cash used in operations improved to $7.2 million from $68.8 million in Q1 2024
- Company repurchased approximately $100 million of stock
The company updated its 2025 guidance, projecting net revenue of $5.4-5.6 billion and adjusted EBITDA of $455-470 million. With over 8,000 team members including 5,000+ clinicians, Option Care Health continues to expand patient access across all 50 states.
Option Care Health ha riportato solidi risultati finanziari nel primo trimestre del 2025, con un fatturato netto di 1,33 miliardi di dollari, in aumento del 16,3% rispetto al primo trimestre del 2024. L'azienda, il più grande fornitore indipendente di servizi di infusione domiciliare e in sedi alternative negli Stati Uniti, ha visto il suo utile lordo crescere del 10,3%, raggiungendo 263,1 milioni di dollari.
I principali dati finanziari includono:
- Utile netto di 46,7 milioni di dollari, con un utile per azione diluito di 0,28 dollari
- L'EBITDA rettificato è aumentato del 13,7%, arrivando a 111,8 milioni di dollari
- Il flusso di cassa operativo negativo si è ridotto a 7,2 milioni di dollari, rispetto ai 68,8 milioni del primo trimestre 2024
- L'azienda ha riacquistato azioni per circa 100 milioni di dollari
La società ha aggiornato le previsioni per il 2025, prevedendo un fatturato netto tra 5,4 e 5,6 miliardi di dollari e un EBITDA rettificato tra 455 e 470 milioni di dollari. Con oltre 8.000 dipendenti, di cui più di 5.000 clinici, Option Care Health continua ad ampliare l'accesso ai pazienti in tutti i 50 stati.
Option Care Health reportó sólidos resultados financieros en el primer trimestre de 2025, con ingresos netos que alcanzaron los
Los aspectos financieros clave incluyen:
- Ingreso neto de 46,7 millones de dólares, con ganancias diluidas por acción de 0,28 dólares
- El EBITDA ajustado aumentó un 13,7%, alcanzando 111,8 millones de dólares
- El efectivo utilizado en operaciones mejoró a 7,2 millones de dólares desde 68,8 millones en el primer trimestre de 2024
- La empresa recompró aproximadamente 100 millones de dólares en acciones
La compañía actualizó sus previsiones para 2025, proyectando ingresos netos entre 5,4 y 5,6 mil millones de dólares y un EBITDA ajustado de 455 a 470 millones de dólares. Con más de 8.000 empleados, incluyendo más de 5.000 clínicos, Option Care Health continúa ampliando el acceso de los pacientes en los 50 estados.
Option Care Health는 2025년 1분기 강력한 재무 실적을 보고했으며, 순매출은 13억 3천만 달러로 2024년 1분기 대비 16.3% 증가했습니다. 미국 최대의 독립 가정 및 대체 장소 주입 서비스 제공업체인 이 회사는 총이익이 10.3% 증가한 2억 6,310만 달러를 기록했습니다.
주요 재무 하이라이트는 다음과 같습니다:
- 순이익 4,670만 달러, 희석 주당순이익 0.28달러
- 조정 EBITDA 13.7% 증가하여 1억 1,180만 달러 달성
- 영업활동 현금 사용액이 2024년 1분기 6,880만 달러에서 720만 달러로 개선
- 약 1억 달러 상당의 자사주 매입
회사는 2025년 가이던스를 업데이트하여 순매출 54억~56억 달러, 조정 EBITDA 4억 5,500만~4억 7,000만 달러를 예상했습니다. 5,000명 이상의 임상 전문가를 포함해 8,000명 이상의 팀원과 함께 Option Care Health는 미국 50개 주 전역에서 환자 접근성을 계속 확장하고 있습니다.
Option Care Health a annoncé de solides résultats financiers pour le premier trimestre 2025, avec un chiffre d'affaires net atteignant 1,33 milliard de dollars, en hausse de 16,3 % par rapport au premier trimestre 2024. La société, premier fournisseur indépendant de services d'infusion à domicile et en sites alternatifs aux États-Unis, a vu son bénéfice brut augmenter de 10,3 % pour atteindre 263,1 millions de dollars.
Les principaux points financiers sont les suivants :
- Bénéfice net de 46,7 millions de dollars, avec un bénéfice dilué par action de 0,28 dollar
- L'EBITDA ajusté a augmenté de 13,7 % pour atteindre 111,8 millions de dollars
- La trésorerie utilisée dans les opérations s'est améliorée, passant de 68,8 millions de dollars au premier trimestre 2024 à 7,2 millions de dollars
- L'entreprise a racheté environ 100 millions de dollars d'actions
La société a mis à jour ses prévisions pour 2025, projetant un chiffre d'affaires net compris entre 5,4 et 5,6 milliards de dollars et un EBITDA ajusté entre 455 et 470 millions de dollars. Avec plus de 8 000 collaborateurs, dont plus de 5 000 cliniciens, Option Care Health continue d'élargir l'accès des patients dans les 50 États.
Option Care Health meldete starke Finanzergebnisse für das erste Quartal 2025, mit einem Nettoumsatz von 1,33 Milliarden US-Dollar, was einem Anstieg von 16,3 % gegenüber dem ersten Quartal 2024 entspricht. Das Unternehmen, der größte unabhängige Anbieter von häuslichen und alternativen Infusionsdiensten in den USA, verzeichnete einen Bruttogewinnanstieg von 10,3 % auf 263,1 Millionen US-Dollar.
Wichtige finanzielle Eckdaten umfassen:
- Nettoeinkommen von 46,7 Millionen US-Dollar, mit einem verwässerten Gewinn je Aktie von 0,28 US-Dollar
- Bereinigtes EBITDA stieg um 13,7 % auf 111,8 Millionen US-Dollar
- Der operative Cashflow verbesserte sich auf 7,2 Millionen US-Dollar gegenüber 68,8 Millionen US-Dollar im ersten Quartal 2024
- Das Unternehmen kaufte Aktien im Wert von etwa 100 Millionen US-Dollar zurück
Das Unternehmen aktualisierte seine Prognose für 2025 und erwartet einen Nettoumsatz von 5,4 bis 5,6 Milliarden US-Dollar sowie ein bereinigtes EBITDA von 455 bis 470 Millionen US-Dollar. Mit über 8.000 Mitarbeitern, darunter mehr als 5.000 Kliniker, erweitert Option Care Health weiterhin den Patientenzugang in allen 50 Bundesstaaten.
- Net revenue increased 16.3% YoY to $1.33B in Q1 2025
- Net income grew to $46.7M from $44.8M in Q1 2024
- Adjusted EBITDA up 13.7% to $111.8M
- Cash used in operations improved significantly to -$7.2M vs -$68.8M in Q1 2024
- Raised full year 2025 guidance with expected revenue of $5.4B-$5.6B
- Strong market position as nation's largest independent infusion services provider
- Gross profit margin declined to 19.7% from 20.8% YoY
- Operating expenses increased by 8.5% to $183.9M
- Significant cash outflow of $100M for stock repurchases
- Total cash and equivalents decreased by $241.2M during the quarter
Insights
Option Care Health posted 16.3% revenue growth with improving cash flow despite margin compression, while maintaining confidence through share repurchases and acquisitions.
Option Care Health's Q1 2025 results demonstrate substantial topline momentum with revenue climbing 16.3% to
The company's operational efficiency continues to improve, evidenced by the dramatic reduction in cash used for operations—only
Capital allocation decisions reveal management's strategic priorities and confidence level. The
The adjusted EBITDA growth of
As the nation's largest independent provider of home and alternate site infusion services, Option Care Health continues to capitalize on healthcare's ongoing shift toward cost-effective alternate site care delivery models while demonstrating disciplined financial management.
BANNOCKBURN, Ill., April 29, 2025 (GLOBE NEWSWIRE) -- Option Care Health, Inc. (the “Company” or “Option Care Health”) (Nasdaq: OPCH), the nation’s largest independent provider of home and alternate site infusion services, announced today financial results for the first quarter ended March 31, 2025.
First Quarter 2025 Financial Highlights
- Net revenue of
$1,333.0 million , up16.3% compared to$1,146.1 million in the first quarter of 2024 - Gross profit of
$263.1 million , or19.7% of net revenue, up10.3% compared to$238.5 million , or20.8% of net revenue, in the first quarter of 2024 - Net income of
$46.7 million , compared to net income of$44.8 million , in the first quarter of 2024 and diluted earnings per share of$0.28 , up7.7% compared to diluted earnings per share of$0.26 in the first quarter of 2024 - Adjusted net income of
$67.1 million , compared to adjusted net income of$61.6 million in the first quarter of 2024 and adjusted diluted earnings per share of$0.40 , up14.3% compared to adjusted diluted earnings per share of$0.35 in the first quarter of 2024 - Adjusted EBITDA of
$111.8 million , up13.7% compared to$98.3 million in the first quarter of 2024 - Cash used in operating activities of
$7.2 million , compared to cash used in operating activities of$68.8 million in the first quarter of 2024 - Repurchased approximately
$100.0 million of stock in the first quarter of 2025
John C. Rademacher, Chief Executive Officer, commented, “The Option Care Health team’s execution in a dynamic environment produced another great quarter of results. Overall, we expect 2025 to be a productive year as we continue to invest for future growth to further expand patient access to quality care.”
Updated Full Year 2025 Financial Guidance
For the full year 2025, Option Care Health now expects to generate:
- Net revenue of
$5.4 billion to$5.6 billion - Adjusted diluted earnings per share of
$1.61 t o$1.70 - Adjusted EBITDA of
$455 million to$470 million - Cash flow from operations of at least
$320 million - Effective tax rate of
25% -27% - Net interest expense of approximately
$55 million to$60 million
Conference Call
Option Care Health will host a conference call to discuss its first quarter 2025 financial results later today at 8:30 a.m. ET. The conference call can be accessed via a live audio webcast that will be available online at investors.optioncarehealth.com. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days.
About Option Care Health
Option Care Health is the nation’s largest independent provider of home and alternate site infusion services. With over 8,000 team members including more than 5,000 clinicians, we work compassionately to elevate standards of care for patients with acute and chronic conditions in all 50 states. Through our clinical leadership, expertise and national scale, Option Care Health is reimagining the infusion care experience for patients, customers and team members. To learn more, please visit our website at optioncarehealth.com.
Investor Contact
| Mike Shapiro |
| Chief Financial Officer |
| T: (312) 940-2538 |
| mike.shapiro@optioncare.com |
Forward-Looking Statements - Safe Harbor
This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we may make regarding future revenues, future earnings, regulatory developments, market developments, new products and growth strategies, integration activities and the effects of any of the foregoing on our future results of operations or financial conditions.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: changes in laws and regulations applicable to our business model; changes in market conditions and receptivity to our services and offerings; pending and future litigation; potential liability for claims not covered by insurance; and loss of relationships with managed care organizations and other non-governmental third party payers. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our periodic reports as filed with the SEC.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Note Regarding Use of Non-GAAP Financial Measures
In addition to reporting financial information in accordance with generally accepted accounting principles (GAAP), the Company is also reporting Adjusted net income, Adjusted EBITDA and Adjusted earnings per share ("Adjusted EPS"), which are non-GAAP financial measures. These adjusted measures are not measurements of financial performance under GAAP and should not be used in isolation or as a substitute or alternative to net income, earnings per share, or any other performance measure derived in accordance with GAAP, or as a substitute or alternative to cash flow from operating activities or a measure of the Company’s liquidity. In addition, the Company's definitions of Adjusted net income, Adjusted EBITDA, and Adjusted EPS may not be comparable to similarly titled non-GAAP financial measures reported by other companies. As defined by the Company: (i) Adjusted net income represents net income before intangible asset amortization expense, stock-based compensation expense, and restructuring, acquisition, integration and other expenses, net of tax adjustments, (ii) Adjusted EBITDA represents net income before net interest expense, income tax expense, depreciation and amortization, stock-based compensation expense, and restructuring, acquisition, integration and other expenses, and (iii) Adjusted earnings per share represents Adjusted net income divided by weighted average common shares outstanding, diluted. As part of restructuring, acquisition, integration and other expenses, the Company may incur significant charges such as the write down of certain long‑lived assets, temporary redundant expenses, professional fees, certain litigation expenses and reserves related to acquired businesses, potential retention and severance costs and potential accelerated payments or termination costs for certain of its contractual obligations. Management believes that these adjusted measures provide useful supplemental information regarding the performance of Option Care Health’s business operations and facilitate comparisons to the Company’s historical operating results. We have not reconciled Adjusted EBITDA or Adjusted diluted earnings per share guidance to net income as management believes creation of this reconciliation would not be practicable due to the uncertainty regarding, and potential variability of, material reconciling items. Full reconciliations of each adjusted measure to the most comparable GAAP financial measure are set forth below.
Schedule 1
| OPTION CARE HEALTH, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS)(UNAUDITED) | |||||
| March 31, 2025 | December 31, 2024 | ||||
| ASSETS | |||||
| CURRENT ASSETS: | |||||
| Cash and cash equivalents | $ | 171,372 | $ | 412,565 | |
| Accounts receivable, net | 476,649 | 409,733 | |||
| Inventories | 369,034 | 388,131 | |||
| Prepaid expenses and other current assets | 82,320 | 112,198 | |||
| Total current assets | 1,099,375 | 1,322,627 | |||
| NONCURRENT ASSETS: | |||||
| Property and equipment, net | 131,264 | 127,367 | |||
| Intangible assets, net | 24,427 | 16,993 | |||
| Referral sources, net | 312,586 | 284,017 | |||
| Goodwill | 1,605,930 | 1,540,246 | |||
| Other noncurrent assets | 134,931 | 130,493 | |||
| Total noncurrent assets | 2,209,138 | 2,099,116 | |||
| TOTAL ASSETS | $ | 3,308,513 | $ | 3,421,743 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||
| CURRENT LIABILITIES: | |||||
| Accounts payable | $ | 528,848 | $ | 610,779 | |
| Other current liabilities | 184,816 | 169,367 | |||
| Total current liabilities | 713,664 | 780,146 | |||
| NONCURRENT LIABILITIES: | |||||
| Long-term debt, net of discount, deferred financing costs and current portion | 1,104,160 | 1,104,641 | |||
| Other noncurrent liabilities | 139,855 | 132,718 | |||
| Total noncurrent liabilities | 1,244,015 | 1,237,359 | |||
| Total liabilities | 1,957,679 | 2,017,505 | |||
| STOCKHOLDERS’ EQUITY | 1,350,834 | 1,404,238 | |||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 3,308,513 | $ | 3,421,743 | |
Schedule 2
| OPTION CARE HEALTH, INC. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)(UNAUDITED) | |||||||
| Three Months Ended March 31, | |||||||
| 2025 | 2024 | ||||||
| NET REVENUE | $ | 1,332,972 | $ | 1,146,052 | |||
| COST OF REVENUE | 1,069,920 | 907,552 | |||||
| GROSS PROFIT | 263,052 | 238,500 | |||||
| OPERATING COSTS AND EXPENSES: | |||||||
| Selling, general and administrative expenses | 168,118 | 154,742 | |||||
| Depreciation and amortization expense | 15,746 | 14,728 | |||||
| Total operating expenses | 183,864 | 169,470 | |||||
| OPERATING INCOME | 79,188 | 69,030 | |||||
| OTHER INCOME (EXPENSE): | |||||||
| Interest expense, net | (13,231 | ) | (13,202 | ) | |||
| Other, net | (2,401 | ) | 1,127 | ||||
| Total other expense | (15,632 | ) | (12,075 | ) | |||
| INCOME BEFORE INCOME TAXES | 63,556 | 56,955 | |||||
| INCOME TAX EXPENSE | 16,814 | 12,164 | |||||
| NET INCOME | $ | 46,742 | $ | 44,791 | |||
| Earnings per share, basic | $ | 0.28 | $ | 0.26 | |||
| Earnings per share, diluted | $ | 0.28 | $ | 0.26 | |||
| Weighted average common shares outstanding, basic | 165,460 | 173,928 | |||||
| Weighted average common shares outstanding, diluted | 166,804 | 175,624 | |||||
Schedule 3
| OPTION CARE HEALTH, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (IN THOUSANDS)(UNAUDITED) | |||||||
| Three Months Ended March 31, | |||||||
| 2025 | 2024 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net income | $ | 46,742 | $ | 44,791 | |||
| Adjustments to reconcile net income to net cash used in operations: | |||||||
| Depreciation and amortization expense | 16,373 | 15,305 | |||||
| Other non-cash adjustments | 17,642 | 21,097 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable, net | (56,788 | ) | (195,992 | ) | |||
| Inventories | 21,790 | 32,056 | |||||
| Prepaid expenses and other current assets | 28,444 | 4,878 | |||||
| Accounts payable | (88,101 | ) | 59,223 | ||||
| Accrued compensation and employee benefits | (14,458 | ) | (49,884 | ) | |||
| Other | 21,142 | (258 | ) | ||||
| Net cash used in operating activities | (7,214 | ) | (68,784 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Acquisition of property and equipment | (9,371 | ) | (5,820 | ) | |||
| Business acquisitions, net of cash acquired | (117,322 | ) | — | ||||
| Net cash used in investing activities | (126,693 | ) | (5,820 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Purchase of company stock, and related excise taxes | (100,222 | ) | (40,050 | ) | |||
| Other financing cash flows | (7,064 | ) | (9,682 | ) | |||
| Net cash used in financing activities | (107,286 | ) | (49,732 | ) | |||
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (241,193 | ) | (124,336 | ) | |||
| Cash and cash equivalents - beginning of the period | 412,565 | 343,849 | |||||
| CASH AND CASH EQUIVALENTS - END OF PERIOD | $ | 171,372 | $ | 219,513 | |||
Schedule 4
| OPTION CARE HEALTH, INC. QUARTERLY RECONCILIATION BETWEEN GAAP AND NON-GAAP MEASURES (IN THOUSANDS)(UNAUDITED) | |||||||
| Three Months Ended March 31, | |||||||
| 2025 | 2024 | ||||||
| Net income | $ | 46,742 | $ | 44,791 | |||
| Interest expense, net | 13,231 | 13,202 | |||||
| Income tax expense | 16,814 | 12,164 | |||||
| Depreciation and amortization expense | 16,373 | 15,305 | |||||
| EBITDA | 93,160 | 85,462 | |||||
| EBITDA adjustments | |||||||
| Stock-based incentive compensation expense | 8,801 | 9,605 | |||||
| Restructuring, acquisition, integration and other | 9,806 | 3,223 | |||||
| Adjusted EBITDA | $ | 111,767 | $ | 98,290 | |||
| Net income | $ | 46,742 | $ | 44,791 | |||
| Intangible asset amortization expense | 9,097 | 8,609 | |||||
| Stock-based incentive compensation expense | 8,801 | 9,605 | |||||
| Restructuring, acquisition, integration and other | 9,806 | 3,223 | |||||
| Total pre-tax adjustments | 27,704 | 21,437 | |||||
| Tax adjustments (1) | (7,342 | ) | (4,588 | ) | |||
| Adjusted net income | $ | 67,104 | $ | 61,640 | |||
| Earnings per share, diluted | $ | 0.28 | $ | 0.26 | |||
| Adjusted earnings per share, diluted | $ | 0.40 | $ | 0.35 | |||
| Weighted average common shares outstanding, diluted | 166,804 | 175,624 | |||||
(1) Tax adjustments for the three months ended March 31, 2025 and 2024 includes the estimated income tax effect on non-GAAP adjustments based on the effective tax rate
FAQ
How much revenue did Option Care Health (OPCH) generate in Q1 2025?
What is Option Care Health's (OPCH) earnings per share for Q1 2025?
How much stock did Option Care Health (OPCH) repurchase in Q1 2025?
What is Option Care Health's (OPCH) revenue guidance for full-year 2025?
How did Option Care Health's (OPCH) cash flow perform in Q1 2025?
What is Option Care Health's (OPCH) Adjusted EBITDA outlook for 2025?
