Option Care Health Announces Financial Results for the Second Quarter Ended June 30, 2025
Option Care Health (Nasdaq: OPCH), the largest independent provider of home and alternate site infusion services, reported strong Q2 2025 financial results. The company achieved net revenue of $1.42 billion, up 15.4% year-over-year, with net income of $50.5 million.
Key financial metrics include gross profit of $269.0 million (19.0% of revenue), Adjusted EBITDA of $114.0 million (up 5.2%), and diluted EPS of $0.31. The company repurchased approximately $50.0 million of stock during Q2.
Option Care Health updated its FY2025 guidance, projecting revenue of $5.50-5.65 billion, adjusted EPS of $1.65-1.72, and adjusted EBITDA of $465-475 million. The company expects cash flow from operations of at least $320 million.
Option Care Health (Nasdaq: OPCH), il principale fornitore indipendente di servizi di infusione a domicilio e in siti alternativi, ha riportato solidi risultati finanziari per il secondo trimestre 2025. L'azienda ha raggiunto un ricavo netto di 1,42 miliardi di dollari, in crescita del 15,4% rispetto all'anno precedente, con un utile netto di 50,5 milioni di dollari.
I principali indicatori finanziari includono un utile lordo di 269,0 milioni di dollari (19,0% dei ricavi), un EBITDA rettificato di 114,0 milioni di dollari (in aumento del 5,2%) e un utile per azione diluito di 0,31 dollari. Durante il secondo trimestre, l'azienda ha riacquistato azioni per un valore di circa 50,0 milioni di dollari.
Option Care Health ha aggiornato le previsioni per l'anno fiscale 2025, prevedendo ricavi tra 5,50 e 5,65 miliardi di dollari, un utile per azione rettificato tra 1,65 e 1,72 dollari e un EBITDA rettificato tra 465 e 475 milioni di dollari. L'azienda si attende un flusso di cassa operativo di almeno 320 milioni di dollari.
Option Care Health (Nasdaq: OPCH), el mayor proveedor independiente de servicios de infusión en el hogar y en sitios alternativos, reportó sólidos resultados financieros para el segundo trimestre de 2025. La compañía alcanzó ingresos netos de $1.42 mil millones, un aumento del 15.4% interanual, con un ingreso neto de $50.5 millones.
Los principales indicadores financieros incluyen un beneficio bruto de $269.0 millones (19.0% de los ingresos), un EBITDA ajustado de $114.0 millones (aumento del 5.2%) y un EPS diluido de $0.31. La compañía recompró aproximadamente $50.0 millones en acciones durante el segundo trimestre.
Option Care Health actualizó sus previsiones para el año fiscal 2025, proyectando ingresos de $5.50-5.65 mil millones, un EPS ajustado de $1.65-1.72 y un EBITDA ajustado de $465-475 millones. La empresa espera un flujo de caja operativo de al menos $320 millones.
Option Care Health (나스닥: OPCH)는 가정 및 대체 장소 주입 서비스 분야에서 가장 큰 독립 제공업체로, 2025년 2분기 강력한 재무 실적을 보고했습니다. 회사는 순매출 14억 2천만 달러를 달성했으며, 전년 대비 15.4% 증가했고, 순이익 5,050만 달러를 기록했습니다.
주요 재무 지표로는 매출총이익 2억 6,900만 달러 (매출의 19.0%), 조정 EBITDA 1억 1,400만 달러 (5.2% 증가), 그리고 희석 주당순이익 0.31달러가 포함됩니다. 회사는 2분기 동안 약 5,000만 달러 규모의 자사주를 매입했습니다.
Option Care Health는 2025 회계연도 가이던스를 업데이트하여 매출 55억~56억 5천만 달러, 조정 주당순이익 1.65~1.72달러, 조정 EBITDA 4억 6,500만~4억 7,500만 달러를 예상하고 있습니다. 또한 최소 3억 2천만 달러의 영업 현금 흐름을 기대하고 있습니다.
Option Care Health (Nasdaq : OPCH), le plus grand fournisseur indépendant de services de perfusion à domicile et sur sites alternatifs, a annoncé de solides résultats financiers pour le deuxième trimestre 2025. La société a réalisé un chiffre d'affaires net de 1,42 milliard de dollars, en hausse de 15,4 % sur un an, avec un bénéfice net de 50,5 millions de dollars.
Les principaux indicateurs financiers comprennent un profit brut de 269,0 millions de dollars (19,0 % du chiffre d'affaires), un EBITDA ajusté de 114,0 millions de dollars (en hausse de 5,2 %) et un bénéfice par action dilué de 0,31 dollar. La société a racheté environ 50,0 millions de dollars d'actions au cours du deuxième trimestre.
Option Care Health a mis à jour ses prévisions pour l'exercice 2025, prévoyant un chiffre d'affaires compris entre 5,50 et 5,65 milliards de dollars, un BPA ajusté entre 1,65 et 1,72 dollar, et un EBITDA ajusté entre 465 et 475 millions de dollars. La société s'attend à un flux de trésorerie provenant des opérations d'au moins 320 millions de dollars.
Option Care Health (Nasdaq: OPCH), der größte unabhängige Anbieter von Infusionsdiensten zu Hause und an alternativen Standorten, meldete starke Finanzergebnisse für das zweite Quartal 2025. Das Unternehmen erzielte einen Nettoerlös von 1,42 Milliarden US-Dollar, was einem Anstieg von 15,4 % im Jahresvergleich entspricht, sowie einen Nettoertrag von 50,5 Millionen US-Dollar.
Wichtige Finanzkennzahlen umfassen einen Bruttogewinn von 269,0 Millionen US-Dollar (19,0 % des Umsatzes), ein bereinigtes EBITDA von 114,0 Millionen US-Dollar (plus 5,2 %) und ein verwässertes Ergebnis je Aktie von 0,31 US-Dollar. Das Unternehmen kaufte im zweiten Quartal Aktien im Wert von etwa 50,0 Millionen US-Dollar zurück.
Option Care Health aktualisierte seine Prognose für das Geschäftsjahr 2025 und erwartet Umsätze von 5,50 bis 5,65 Milliarden US-Dollar, ein bereinigtes Ergebnis je Aktie von 1,65 bis 1,72 US-Dollar und ein bereinigtes EBITDA von 465 bis 475 Millionen US-Dollar. Das Unternehmen rechnet mit einem operativen Cashflow von mindestens 320 Millionen US-Dollar.
- Revenue growth of 15.4% year-over-year to $1.42 billion
- Adjusted EBITDA increased 5.2% to $114.0 million
- Adjusted EPS grew 10.8% to $0.41
- $50.0 million in stock repurchases completed
- Strong operating cash flow of $90.3 million
- Gross profit margin declined to 19.0% from 20.3% year-over-year
- Net income decreased to $50.5 million from $53.0 million in Q2 2024
- Operating cash flow decreased significantly from $195.7 million in Q2 2024
- Interest expense increased to $14.4 million from $12.6 million year-over-year
Insights
Option Care Health posted 15.4% revenue growth but lower margins with mixed performance metrics in Q2 2025, maintaining positive financial trajectory.
Option Care Health delivered a 15.4% revenue increase in Q2 2025, reaching
The company's net income declined slightly to
Despite these mixed signals, adjusted EPS increased
Management's updated 2025 guidance suggests continued confidence in business performance, forecasting full-year revenue between
BANNOCKBURN, Ill., July 30, 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 second quarter ended June 30, 2025.
Second Quarter 2025 Financial Highlights
- Net revenue of
$1,416.1 million , up15.4% compared to$1,227.2 million in the second quarter of 2024 - Gross profit of
$269.0 million , or19.0% of net revenue, up7.9% compared to$249.4 million , or20.3% of net revenue, in the second quarter of 2024 - Net income of
$50.5 million , compared to net income of$53.0 million , in the second quarter of 2024 and diluted earnings per share of$0.31 , up3.3% compared to diluted earnings per share of$0.30 in the second quarter of 2024 - Adjusted net income of
$67.5 million , compared to adjusted net income of$64.9 million , in the second quarter of 2024 and adjusted diluted earnings per share of$0.41 , up10.8% compared to adjusted diluted earnings per share of$0.37 in the second quarter of 2024 - Adjusted EBITDA of
$114.0 million , up5.2% compared to$108.4 million in the second quarter of 2024 - Cash provided by operating activities of
$90.3 million , compared to cash provided by operating activities of$195.7 million in the second quarter of 2024 - Repurchased approximately
$50.0 million of stock in the second quarter of 2025
John C. Rademacher, Chief Executive Officer, commented, “I am proud of the second quarter performance and the Option Care Health team's ability to show resilience in a dynamic marketplace. We continue to execute on opportunities to provide strong clinical outcomes while helping reduce the total cost of care.”
Updated Full Year 2025 Financial Guidance
For the full year 2025, Option Care Health now expects to generate:
- Net revenue of
$5.50 billion to$5.65 billion - Adjusted diluted earnings per share of
$1.65 t o$1.72 - Adjusted EBITDA of
$465 million to$475 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 second 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, loss on extinguishment of debt, 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) |
| June 30, 2025 | December 31, 2024 | ||||
| ASSETS | |||||
| CURRENT ASSETS: | |||||
| Cash and cash equivalents | $ | 198,818 | $ | 412,565 | |
| Accounts receivable, net | 481,253 | 409,733 | |||
| Inventories | 403,542 | 388,131 | |||
| Prepaid expenses and other current assets | 91,616 | 112,198 | |||
| Total current assets | 1,175,229 | 1,322,627 | |||
| NONCURRENT ASSETS: | |||||
| Property and equipment, net | 133,673 | 127,367 | |||
| Intangible assets, net | 23,566 | 16,993 | |||
| Referral sources, net | 304,151 | 284,017 | |||
| Goodwill | 1,605,855 | 1,540,246 | |||
| Other noncurrent assets | 140,352 | 130,493 | |||
| Total noncurrent assets | 2,207,597 | 2,099,116 | |||
| TOTAL ASSETS | $ | 3,382,826 | $ | 3,421,743 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||
| CURRENT LIABILITIES: | |||||
| Accounts payable | $ | 590,221 | $ | 610,779 | |
| Other current liabilities | 183,399 | 169,367 | |||
| Total current liabilities | 773,620 | 780,146 | |||
| NONCURRENT LIABILITIES: | |||||
| Long-term debt, net of discount, deferred financing costs and current portion | 1,103,701 | 1,104,641 | |||
| Other noncurrent liabilities | 145,557 | 132,718 | |||
| Total noncurrent liabilities | 1,249,258 | 1,237,359 | |||
| Total liabilities | 2,022,878 | 2,017,505 | |||
| STOCKHOLDERS’ EQUITY | 1,359,948 | 1,404,238 | |||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 3,382,826 | $ | 3,421,743 | |
Schedule 2
| OPTION CARE HEALTH, INC. |
| CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS |
| (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)(UNAUDITED) |
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| NET REVENUE | $ | 1,416,085 | $ | 1,227,186 | $ | 2,749,057 | $ | 2,373,238 | |||||||
| COST OF REVENUE | 1,147,042 | 977,821 | 2,216,962 | 1,885,373 | |||||||||||
| GROSS PROFIT | 269,043 | 249,365 | 532,095 | 487,865 | |||||||||||
| OPERATING COSTS AND EXPENSES: | |||||||||||||||
| Selling, general and administrative expenses | 170,092 | 153,783 | 338,210 | 308,525 | |||||||||||
| Depreciation and amortization expense | 16,241 | 14,907 | 31,987 | 29,635 | |||||||||||
| Total operating expenses | 186,333 | 168,690 | 370,197 | 338,160 | |||||||||||
| OPERATING INCOME | 82,710 | 80,675 | 161,898 | 149,705 | |||||||||||
| OTHER INCOME (EXPENSE): | |||||||||||||||
| Interest expense, net | (14,447 | ) | (12,603 | ) | (27,678 | ) | (25,805 | ) | |||||||
| Other, net | 598 | 3,969 | (1,803 | ) | 5,096 | ||||||||||
| Total other expense | (13,849 | ) | (8,634 | ) | (29,481 | ) | (20,709 | ) | |||||||
| INCOME BEFORE INCOME TAXES | 68,861 | 72,041 | 132,417 | 128,996 | |||||||||||
| INCOME TAX EXPENSE | 18,338 | 18,998 | 35,152 | 31,162 | |||||||||||
| NET INCOME | $ | 50,523 | $ | 53,043 | $ | 97,265 | $ | 97,834 | |||||||
| Earnings per share, basic | $ | 0.31 | $ | 0.31 | $ | 0.59 | $ | 0.56 | |||||||
| Earnings per share, diluted | $ | 0.31 | $ | 0.30 | $ | 0.59 | $ | 0.56 | |||||||
| Weighted average common shares outstanding, basic | 162,931 | 172,927 | 164,188 | 173,428 | |||||||||||
| Weighted average common shares outstanding, diluted | 164,133 | 174,090 | 165,402 | 174,831 | |||||||||||
Schedule 3
| OPTION CARE HEALTH, INC. |
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (IN THOUSANDS)(UNAUDITED) |
| Six Months Ended June 30, | |||||||
| 2025 | 2024 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net income | $ | 97,265 | $ | 97,834 | |||
| Adjustments to reconcile net income to net cash provided by operations: | |||||||
| Depreciation and amortization expense | 33,326 | 30,802 | |||||
| Other adjustments | 35,857 | 38,874 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable, net | (61,392 | ) | (90,642 | ) | |||
| Inventories | (12,718 | ) | (7,417 | ) | |||
| Prepaid expenses and other current assets | 17,606 | (1,745 | ) | ||||
| Accounts payable | (27,904 | ) | 107,558 | ||||
| Accrued compensation and employee benefits | 8,730 | (30,206 | ) | ||||
| Other | (7,651 | ) | (18,187 | ) | |||
| Net cash provided by operating activities | 83,119 | 126,871 | |||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Acquisition of property and equipment | (18,466 | ) | (15,597 | ) | |||
| Business acquisitions, net of cash acquired | (117,247 | ) | — | ||||
| Net cash used in investing activities | (135,713 | ) | (15,597 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Purchase of company stock and related excise taxes | (152,429 | ) | (118,122 | ) | |||
| Proceeds from issuance of debt | — | 49,959 | |||||
| Other financing activities | (8,724 | ) | (10,088 | ) | |||
| Net cash used in financing activities | (161,153 | ) | (78,251 | ) | |||
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (213,747 | ) | 33,023 | ||||
| Cash and cash equivalents - beginning of the period | 412,565 | 343,849 | |||||
| CASH AND CASH EQUIVALENTS - END OF PERIOD | $ | 198,818 | $ | 376,872 | |||
Schedule 4
| OPTION CARE HEALTH, INC. |
| QUARTERLY RECONCILIATION BETWEEN GAAP AND NON-GAAP MEASURES |
| (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)(UNAUDITED) |
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net income | $ | 50,523 | $ | 53,043 | $ | 97,265 | $ | 97,834 | |||||||
| Interest expense, net | 14,447 | 12,603 | 27,678 | 25,805 | |||||||||||
| Income tax expense | 18,338 | 18,998 | 35,152 | 31,162 | |||||||||||
| Depreciation and amortization expense | 16,953 | 15,497 | 33,326 | 30,802 | |||||||||||
| EBITDA | 100,261 | 100,141 | 193,421 | 185,603 | |||||||||||
| EBITDA adjustments | |||||||||||||||
| Stock-based incentive compensation expense | 10,712 | 7,608 | 19,513 | 17,213 | |||||||||||
| Loss on extinguishment of debt | — | 377 | — | 377 | |||||||||||
| Restructuring, acquisition, integration and other | 3,045 | 231 | 12,850 | 3,454 | |||||||||||
| Adjusted EBITDA | $ | 114,018 | $ | 108,357 | $ | 225,784 | $ | 206,647 | |||||||
| Net income | $ | 50,523 | $ | 53,043 | $ | 97,265 | $ | 97,834 | |||||||
| Intangible asset amortization expense | 9,297 | 8,604 | 18,394 | 17,213 | |||||||||||
| Stock-based incentive compensation expense | 10,712 | 7,608 | 19,513 | 17,213 | |||||||||||
| Restructuring, acquisition, integration and other | 3,045 | 231 | 12,850 | 3,454 | |||||||||||
| Total pre-tax adjustments | 23,054 | 16,443 | 50,757 | 37,880 | |||||||||||
| Tax adjustments (1) | (6,109 | ) | (4,546 | ) | (13,451 | ) | (9,134 | ) | |||||||
| Adjusted net income | $ | 67,468 | $ | 64,940 | $ | 134,571 | $ | 126,580 | |||||||
| Earnings per share, diluted | $ | 0.31 | $ | 0.30 | $ | 0.59 | $ | 0.56 | |||||||
| Adjusted earnings per share, diluted | $ | 0.41 | $ | 0.37 | $ | 0.81 | $ | 0.72 | |||||||
| Weighted average common shares outstanding, diluted | 164,133 | 174,090 | 165,402 | 174,831 | |||||||||||
(1) Tax adjustments for the three and six months ended June 30, 2025 and 2024 includes the estimated income tax effect on non-GAAP adjustments based on the effective tax rate
FAQ
What were Option Care Health's (OPCH) Q2 2025 earnings results?
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