BrightSpring Health Services (NASDAQ: BTSG) lifts 2026 revenue and EBITDA outlook

Rhea-AI Filing Summary

BrightSpring Health Services reported strong results for the quarter ended June 30, 2026. Total revenues were $3,873,140 (in thousands), up from $3,147,698, and gross profit rose to $492,746 (in thousands). Operating income increased to $130,391 (in thousands), with income from continuing operations of $86,604 (in thousands) and diluted EPS of $0.38 versus $0.13 a year earlier.

Adjusted EBITDA reached $205,505 (in thousands), compared with $142,517, supported by both segments. In Pharmacy Solutions, prescriptions were stable while revenue per script increased to $314.20 from $257.11 and gross profit per script to $27.50 from $21.54. Provider Services’ home health care average daily census grew to 46,448 from 30,085.

The company increased full-year 2026 guidance to revenues of $15,100 million to $15,425 million and total Adjusted EBITDA of $820 million to $845 million, excluding the Community Living business. Management expects the Amedisys and LHC branches acquisition to contribute about $35 million of Adjusted EBITDA in 2026.

Positive

• Q2 2026 performance strengthened, with total revenues of $3,873,140 (in thousands) versus $3,147,698 and net income attributable to BrightSpring rising to $84,290 (in thousands) as diluted EPS increased to $0.38 from $0.13.
• Profitability and outlook improved: Adjusted EBITDA grew to $205,505 (in thousands) from $142,517, and 2026 guidance was raised to revenues of $15,100–$15,425 million and Adjusted EBITDA of $820–$845 million, including about $35 million expected from recent acquisitions.

Negative

• None.

Filing Explained

As of June 30, BrightSpring reported a larger share count alongside $550,381 thousand cash and $2,149,315 thousand long-term debt.

This Form 8-K uses Item 2.02 to furnish BrightSpring’s financial results for the quarter ended June 30, 2026; the accompanying press release is Exhibit 99.1.

At June 30, 2026, the company reported $550,381 thousand of cash and equivalents, $2,149,315 thousand of long-term debt, and 197,509,491 common shares issued and outstanding.

The reported share count was higher than the 192,124,125 shares outstanding at December 31, 2025. If that increase reflects newly issued shares, the supplied dilution definition means existing holders’ percentage ownership would decline absent offsetting changes; the filing does not identify the cause of the change.

For the six months ended June 30, 2026, financing activities used $424,150 thousand, including $320,491 thousand of long-term debt repayments and $120,000 thousand of common-stock repurchases.

The increased full-year guidance remains a forward-looking estimate rather than a completed result and excludes the Community Living business and the effects of future closed acquisitions.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Total revenues Q2 2026: $3,873,140 (in thousands) Net income attributable to BrightSpring Q2 2026: $84,290 (in thousands) Adjusted EBITDA Q2 2026: $205,505 (in thousands) +5 more

8 metrics

Total revenues Q2 2026 $3,873,140 (in thousands) For the three months ended June 30, 2026

Net income attributable to BrightSpring Q2 2026 $84,290 (in thousands) For the three months ended June 30, 2026

Adjusted EBITDA Q2 2026 $205,505 (in thousands) For the three months ended June 30, 2026

Cash and cash equivalents $550,381 (in thousands) Balance at June 30, 2026

Long-term debt, net of current portion $2,149,315 (in thousands) Balance at June 30, 2026

2026 revenue guidance range $15,100 million to $15,425 million Full-year 2026 revenues excluding Community Living business

2026 Adjusted EBITDA guidance range $820 million to $845 million Full-year 2026 total Adjusted EBITDA guidance

Operating cash flow H1 2026 $166,859 (in thousands) Net cash provided by operating activities for six months ended June 30, 2026

Key Terms

Adjusted EBITDA, Adjusted EPS, Tangible Equity Units, redeemable noncontrolling interests, +2 more

6 terms

Adjusted EBITDA financial

"Total Adjusted EBITDA4 of $820 million to $845 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Adjusted EPS financial

"The following table reconciles diluted EPS to Adjusted EPS"

Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.

Tangible Equity Units financial

"6.75% Tangible Equity Units | | BTSGU | | The Nasdaq Stock Market LLC"

redeemable noncontrolling interests financial

"Redeemable noncontrolling interests | | | 9,417"

A redeemable noncontrolling interest is a minority ownership stake in a company that the holder can force the company to buy back at a set price or under certain conditions. For investors this matters because it creates a future cash obligation and can be treated more like a liability than permanent equity, affecting a company’s reported debt, net income and valuation — think of it as a part-owner who can cash out, forcing the business to pay them.

managed care organizations regulatory

"transition of Medicaid and Medicare beneficiaries to managed care organizations"

Organizations that arrange, coordinate and pay for health care services through networks of doctors, hospitals and other providers, often using contracts, pre-set fees and utilization rules to control costs and quality. Like a planner who negotiates group rates and sets rules for using services, they influence how care is delivered and how much is paid, so their contracts, membership size and cost-management tools matter to investors because they shape revenue, margins and risk exposure in health-care markets.

Private Securities Litigation Reform Act of 1995 regulatory

"contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995"

Earnings Snapshot

Total revenues Q2 2026: $3,873,140 (in thousands) · Guidance included

quarter ended June 30, 2026

Total revenues Q2 2026 $3,873,140 (in thousands) up from $3,147,698 (in thousands) in Q2 2025

Net income attributable to BrightSpring Q2 2026 $84,290 (in thousands) up from $28,208 (in thousands) in Q2 2025

Adjusted EBITDA Q2 2026 $205,505 (in thousands) up from $142,517 (in thousands) in Q2 2025

Diluted EPS Q2 2026 $0.38 up from $0.13 in Q2 2025

Net cash provided by operating activities H1 2026 $166,859 (in thousands) up from $150,674 (in thousands) in H1 2025

Guidance

For full-year 2026, the company guides to revenues of $15,100 million to $15,425 million and total Adjusted EBITDA of $820 million to $845 million, excluding the Community Living business, and expects approximately $35 million of Adjusted EBITDA contribution from the Amedisys and LHC branches acquisition.

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FAQ

What were BrightSpring (BTSG) revenues in the second quarter of 2026?

BrightSpring reported Q2 2026 revenues of $3,873,140 (in thousands), up from $3,147,698 (in thousands) in Q2 2025. Product revenues were $3,407,173 and service revenues $465,967 (both in thousands), reflecting growth across pharmacy and provider operations.

How profitable was BrightSpring (BTSG) in Q2 2026?

In Q2 2026 BrightSpring generated net income attributable to the company of $84,290 (in thousands) versus $28,208 (in thousands) a year earlier. Diluted EPS was $0.38, up from $0.13, and income from continuing operations reached $86,604 (in thousands).

What was BrightSpring (BTSG) Adjusted EBITDA in Q2 2026 and year-to-date?

BrightSpring reported Q2 2026 Adjusted EBITDA of $205,505 (in thousands), compared with $142,517 (in thousands) in Q2 2025. For the first half of 2026, Adjusted EBITDA was $395,266 (in thousands), up from $273,579 (in thousands) in the prior-year period.

What full-year 2026 guidance did BrightSpring (BTSG) provide?

For 2026, BrightSpring guided to revenues of $15,100 million to $15,425 million and total Adjusted EBITDA of $820 million to $845 million, excluding the Community Living business. It expects about $35 million of Adjusted EBITDA contribution from Amedisys and LHC branches.

How did BrightSpring (BTSG) pharmacy and provider metrics trend in Q2 2026?

In Q2 2026, pharmacy prescriptions were 10,844,038, roughly flat year over year, while revenue per script rose to $314.20 and gross profit per script to $27.50. Provider Services’ home health care average daily census increased to 46,448 from 30,085.

What is BrightSpring (BTSG) cash and debt position as of June 30, 2026?

As of June 30, 2026, BrightSpring held cash and cash equivalents of $550,381 (in thousands). Long-term debt, net of current portion, was $2,149,315 (in thousands), with an additional $41,445 (in thousands) classified as current portion of long-term debt.

When is the BrightSpring (BTSG) Q2 2026 earnings call and how can investors listen?

The company scheduled its conference call for July 31 at 8:30 a.m. Eastern Time. Investors can register online, and a live plus archived webcast is available in the “Events & Presentations” section of BrightSpring’s investor relations website.

0001865782false0001865782btsg:SixPointSevenFivePercentageTangibleEquityUnitsMember2026-07-312026-07-310001865782us-gaap:CommonStockMember2026-07-312026-07-3100018657822026-07-312026-07-31

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 31, 2026

BrightSpring Health Services, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-41938	82-2956404
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
805 N. Whittington Parkway
Louisville, Kentucky				40222
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 502 394-2100

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.01 per share		BTSG		The Nasdaq Stock Market LLC
6.75% Tangible Equity Units		BTSGU		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 31, 2026, BrightSpring Health Services, Inc. issued a press release announcing its financial results for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference in this Item 2.02.

The information furnished under this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated by specific reference in any such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
99.1		Press Release of BrightSpring Health Services, Inc., dated July 31, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			BRIGHTSPRING HEALTH SERVICES, INC.
Date:	July 31, 2026	By:	/s/ Jennifer Phipps
		Name: Title:	Jennifer Phipps Executive Vice President and Chief Financial Officer

BrightSpring Health Services, Inc. Reports Second Quarter 2026 Financial Results and Increases Full Year 2026 Guidance

LOUISVILLE, Ky., July 31, 2026 — BrightSpring Health Services, Inc. (“BrightSpring” or the “Company”) (NASDAQ: BTSG), a leading provider of home and community-based health services for complex populations, today announced financial results for the second quarter ended June 30, 2026, and increased full year 2026 Revenue and Adjusted EBITDA1 guidance.

Second Quarter 2026 Financial Highlights

(note: On March 30, 2026, BrightSpring completed the divestiture of the Community Living business and as such, all financial results provided pertain to continuing operations)

•Net revenue of $3,873 million, up 23.0% compared to $3,148 million in the second quarter of 2025

•Gross profit of $493 million, up 31.5% compared to $375 million in the second quarter of 2025

•Net income of $87 million compared to $9 million in the second quarter of 2025

•Adjusted EBITDA1 of $206 million, up 44.2% compared to $143 million in the second quarter of 2025

•Leverage of 2.15x as of June 30, 2026, compared to leverage of 2.27x on March 31, 2026

•$300.0M paydown and concurrent modification of the First Lien Facility, including interest rate refinancings that resulted in interest savings

•Completion of an underwritten secondary offering of common stock by affiliates of Kohlberg Kravis Roberts & Co. L.P. and certain members of management in June 2026, and a concurrent $60.0 million repurchase of 1,026,465 shares of common stock from the underwriter

"We are pleased with the Company’s second quarter results that reflect our quality focus, service level performance, and dedication to the patients we serve," said Jon Rousseau, Chairman, President, and Chief Executive Officer of BrightSpring. "We remain grounded in disciplined operational execution and delivering high-quality and effective care. Our service lines have significant long-term opportunity to better address the needs of all healthcare stakeholders, and we remain committed to innovation and leadership in our industry to impact more patients in the future."

1Adjusted EBITDA is a non-GAAP financial measure. Please see “Non-GAAP Financial Information” at the end of this press release for a reconciliation of Adjusted EBITDA to net income from continuing operations, the most directly comparable financial measure prepared in accordance with GAAP.

Key Financials3

	Three Months Ended						Six Months Ended
	June 30, (Unaudited)						June 30, (Unaudited)
	2026		2025		%		2026		2025		%
($ in millions)
Pharmacy Solutions Revenue	$ 3,407		$ 2,790		22%		$ 6,579		$ 5,322		24%
Provider Services Revenue	466		358		30%		908		704		29%
Total Revenue	$ 3,873		$ 3,148		23%		$ 7,487		$ 6,026		24%

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	Three Months Ended						Six Months Ended
	June 30, (Unaudited)						June 30, (Unaudited)
	2026		2025		%		2026		2025		%
($ in millions)
Pharmacy Solutions segment EBITDA	$ 180		$ 125		44%		$ 349		$ 240		45%
Provider Services segment EBITDA	75		56		33%		141		108		31%
Total Segment Adjusted EBITDA	$ 255		$ 181		41%		$ 490		$ 348		41%
Corporate Costs	(49)		(39)		n.m.		(95)		(74)		n.m.
Total Company Adjusted EBITDA(1)	$ 206		$ 143		44%		$ 395		$ 274		45%

*n.m.: not meaningful

Business Metrics

	Three Months Ended						Six Months Ended
	June 30, (Unaudited)						June 30, (Unaudited)
	2026		2025		%		2026		2025		%
Pharmacy Solutions
Prescriptions dispensed	10,844,038		10,851,773		(0%)		21,573,914		21,729,067		(1%)
Revenue per script ($)	314.20		257.11		22%		304.93		244.94		25%
Gross Profit per script ($)	27.50		21.54		28%		27.76		20.14		38%
Provider Services
Home Health Care average daily     census	46,448		30,085		54%		46,258		30,163		53%
Rehab Care persons served	7,755		7,119		9%		7,688		6,909		11%
Personal Care persons served	16,357		16,138		1%		16,219		16,001		1%

1Adjusted EBITDA is a non-GAAP financial measure. Please see “Non-GAAP Financial Information” and the end of this press release for a reconciliation of Adjusted EBITDA to net income from continuing operations, the most directly comparable financial measure prepared in accordance with GAAP.

3Financial tables may not foot due to rounding.

Full Year 2026 Financial Guidance

For the full year 2026, BrightSpring is increasing Revenue and Adjusted EBITDA guidance, which excludes the Community Living business and the effects of any future closed acquisitions. All growth rates are shown as compared to the full year 2025 Revenue and Adjusted EBITDA results, excluding the Community Living business:

•Revenues of $15,100 million to $15,425 million, or 17.0% to 19.5% growth

oPharmacy Segment Revenue of $13,200 million to $13,500 million, or 15.3% to 17.9% growth

oProvider Segment Revenue of $1,900 million to $1,925 million, or 29.7% to 31.4% growth

•Total Adjusted EBITDA4 of $820 million to $845 million, or 32.8% to 36.8% growth

•The Amedisys and LHC branches acquisition is expected to contribute approximately $35 million in Adjusted EBITDA in 2026

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4A reconciliation of the foregoing guidance for the non-GAAP metric of Adjusted EBITDA to GAAP net income from continuing operations cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, the Company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future GAAP financial results.

Webcast and Conference Call Details

The Company will host a conference call today, July 31st at 8:30 a.m. Eastern Time. Investors interested in listening to the conference call are required to register online.

A live and archived webcast of the event will be available on the “Events & Presentations” section of the BrightSpring website at https://ir.brightspringhealth.com/. The Company has posted supplemental information on the second quarter 2026 results that it will reference during the conference call. The supplemental information can be found under the “Events & Presentations” on the Company’s investor relations page.

About BrightSpring Health Services

BrightSpring Health Services provides complementary home- and community-based health solutions for medically complex populations in need of specialized and/or chronic care. Through the Company’s service lines, including pharmacy, home health care, and rehabilitation, we provide comprehensive and more integrated care and clinical solutions in all 50 states to over 485,000 customers, clients and patients daily. BrightSpring has consistently demonstrated strong and industry-leading quality metrics across its services lines, while improving the health and quality of life for high-need individuals and reducing overall healthcare system costs.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements include all statements that are not historical facts. These forward-looking statements may relate to matters which include, but are not limited to, industries, business strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources and other financial and operating information. In some cases, we have used words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” “target,” “guidance,” the negative version of these words, or similar terms and phrases to identify these forward-looking statements.

The forward-looking statements are based on management’s current expectations and are not historical facts or guarantees of future performance. The forward-looking statements relate to the future and are therefore subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, and projections will result or be achieved. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors,

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many of which are beyond our control. We believe that these factors include but are not limited to the following:

•our operation in a highly competitive industry;

•our inability to maintain relationships with existing patient referral sources or establish new referral sources;

•changes to Medicare and Medicaid rates or methods governing Medicare and Medicaid payments for our services;

•cost containment initiatives of third-party payors, including post-payment audits;

•the implementation of alternative payment models and the transition of Medicaid and Medicare beneficiaries to managed care organizations may limit our market share and could adversely affect our revenues;

•changes in the case mix of patients, as well as payor mix and payment methodologies, and decisions and operations of third-party organizations;

•our reliance on federal and state spending, budget decisions, and continuous governmental operations which may fluctuate under different political conditions;

•changes in drug utilization and/or pricing, PBM contracts, and Medicare Part D/Medicaid reimbursement, which may negatively impact our profitability;

•changes in our relationships with pharmaceutical suppliers, including changes in drug availability or pricing;

•reliance on the continual recruitment and retention of nurses, pharmacists, therapists, caregivers, direct support professionals, and other qualified personnel, including senior management;

•compliance with or changes to federal, state, and local laws and regulations that govern our employment practices, including minimum wage, living wage, and paid time-off requirements;

•fluctuation of our results of operations on a quarterly basis;

•harm caused by labor relation matters;

•limitations in our ability to control reimbursement rates received for our services if we are unable to maintain or reduce our costs to provide such services;

•delays in collection or non-collection of our accounts receivable, particularly during the business integration process;

•failure to manage our growth effectively, which may inhibit our ability to execute our business plan, maintain high levels of service and satisfaction or adequately address competitive challenges;

•our ability to identify, successfully complete and manage acquisitions, joint ventures, divestitures and other significant transactions and strategic initiatives;

•our ability to continue to provide consistently high quality of care;

•maintenance of our corporate reputation or the emergence of adverse publicity, including negative information on social media or changes in public perception of our services;

•contract continuance, expansion and renewal with our existing customers, including renewals at lower fee levels, customers declining to purchase additional services from us, or reduction in the services received from us pursuant to those contracts;

•effective investment in, implementation of improvements to and proper maintenance of the uninterrupted operation and data integrity of our information technology and other business systems;

•security breaches, loss of data, and other disruptions, which could compromise sensitive business or patient information; cause a loss of confidential patient data, employee data or personal information; or prevent access to critical information and thereby expose us to liability, litigation, and federal and state governmental inquiries and damage our reputation and brand;

•risks related to credit card payments and other payment methods;

•potential substantial malpractice or other similar claims;

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•various risks related to governmental inquiries, regulatory actions, and whistleblower and other lawsuits, which may not be entirely covered by insurance;

•our current insurance program, which may expose us to unexpected costs, particularly if we incur losses not covered by our insurance or if claims or losses differ from our estimates;

•factors outside of our control, including those listed, which have required and could in the future require us to record an asset impairment of goodwill;

•a pandemic, epidemic, or outbreak of an infectious disease;

•inclement weather, natural disasters, acts of terrorism, riots, civil insurrection or social unrest, looting, protests, strikes, or street demonstrations;

•our inability to adequately protect our intellectual property rights;

•risks related to our compliance with our regulatory framework;

•the significant interests of KKR Stockholder may conflict with our stockholders’ interests in the future;

•our substantial indebtedness;

•significant changes in tax or trade policies, tariffs, or trade relations between the United States and other countries, such as the imposition of unilateral tariffs on imported products, including impacts on imported drug products, which could result in supply chain disruptions and significant increases in costs; and

•fluctuations in the amount and frequency of repurchases of our common stock.

The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law. These factors should not be construed as exhaustive, and should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual results may vary in material respects from those projected in these forward-looking statements. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward- looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, investments, or other strategic transactions we may make.

For additional information on these and other factors that could cause BrightSpring’s actual results to differ materially from expected results, please see our filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov.

Non-GAAP Financial Measures

This press release contains “non-GAAP financial measures,” including “EBITDA,” “Adjusted EBITDA,” and “Adjusted EPS,” which are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with accounting principles generally accepted in the United States, or GAAP.

EBITDA, Adjusted EBITDA, and Adjusted EPS have been presented in this release as supplemental measures of financial performance that are not required by, or presented in accordance with, GAAP, because we believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management also believes that these measures are useful to investors in highlighting trends in our operating performance,

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while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate and capital investments. Management uses EBITDA, Adjusted EBITDA, and Adjusted EPS to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, to establish and award discretionary annual incentive compensation, and to compare our performance against that of other peer companies using similar measures.

Management supplements GAAP results with non-GAAP financial measures to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. EBITDA, Adjusted EBITDA, and Adjusted EPS are non-GAAP measures of our financial performance and should not be considered as an alternative to net income as a measure of financial performance or any other performance measures derived in accordance with GAAP. Additionally, these measures are not intended to be a measure of free cash flow available for management’s discretionary use as they do not consider certain cash requirements such as tax payments, debt service requirements, total capital expenditures, and certain other cash costs that may recur in the future.

Management defines EBITDA as net income from continuing operations before income tax expense, interest expense, net and depreciation and amortization. Management also defines Adjusted EBITDA as EBITDA, further adjusted to exclude non-cash share-based compensation, acquisition, integration and transaction-related costs, and restructuring and divestiture-related and other costs.

The presentations of these measures have limitations as analytical tools and should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP. Because not all companies use identical calculations, the presentations of these measures may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company. Please see the end of this press release for reconciliations of non-GAAP financial measures to the most directly comparable financial measure prepared in accordance with GAAP.

BrightSpring Contact:

Investor Relations:

David Deuchler, CFA

SVP, Strategic Finance & Investor Relations

Executive Director, BrightSpring Health Foundation

IR@brightspringhealth.com

917.209.5605

Media Contact:
Leigh White
Vice President, Communications & PR

leigh.white@brightspringhealth.com

502.630.7412

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BrightSpring Health Services, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

June 30, 2026 and December 31, 2025

(In thousands, except share and per share data)

(Unaudited)

		June 30, 2026				December 31, 2025
Assets
Current assets:
Cash and cash equivalents		$	550,381			$	88,370
Accounts receivable, net of allowance for credit losses			1,139,420				989,719
Inventories			575,009				815,180
Prepaid expenses and other current assets			205,163				118,592
Current assets held for sale			—				882,189
Total current assets			2,469,973				2,894,050
Property and equipment, net of accumulated depreciation of $438,963 and $404,878 at     June 30, 2026 and December 31, 2025, respectively			213,866				204,689
Goodwill			2,535,244				2,545,673
Intangible assets, net of accumulated amortization			514,424				557,555
Operating lease right-of-use assets, net			166,976				171,632
Other assets			85,234				39,712
Total assets		$	5,985,717			$	6,413,311
Liabilities, Redeemable Noncontrolling Interests, and Equity
Current liabilities:
Trade accounts payable		$	1,090,915			$	1,217,946
Accrued expenses			371,701				333,024
Current portion of obligations under operating leases			44,663				42,936
Current portion of obligations under financing leases			6,909				6,794
Current portion of long-term debt			41,445				52,340
Current liabilities held for sale			—				195,994
Total current liabilities			1,555,633				1,849,034
Obligations under operating leases, net of current portion			132,046				135,420
Obligations under financing leases, net of current portion			13,273				14,544
Long-term debt, net of current portion			2,149,315				2,455,204
Deferred income taxes, net			636				6,178
Long-term liabilities			76,612				66,565
Total liabilities			3,927,515				4,526,945
Redeemable noncontrolling interests			9,417				11,227
Shareholders’ equity:
Common stock, $0.01 par value, 1,500,000,000 shares authorized, 197,509,491 and    192,124,125 shares issued and outstanding at June 30, 2026 and December 31, 2025,    respectively		$	1,975			$	1,921
Preferred stock, $0.01 par value, 250,000,000 authorized, no shares issued and    outstanding at June 30, 2026 and December 31, 2025			—				—
Additional paid-in capital			2,004,123				1,954,482
Retained earnings (accumulated deficit)			38,434				(74,647	)
Accumulated other comprehensive income (loss)			4,185				(6,691	)
Total shareholders’ equity			2,048,717				1,875,065
Noncontrolling interest			68				74
Total equity			2,048,785				1,875,139
Total liabilities, redeemable noncontrolling interests, and equity		$	5,985,717			$	6,413,311

BrightSpring Health Services, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

For the three and six months ended June 30, 2026 and 2025

(In thousands, except per share amounts)

(Unaudited)

		For the Three Months Ended								For the Six Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Revenues:
Products		$	3,407,173			$	2,790,101			$	6,578,522			$	5,322,272
Services			465,967				357,597				908,339				703,555
Total revenues			3,873,140				3,147,698				7,486,861				6,025,827
Cost of goods			3,108,992				2,556,402				5,979,567				4,884,617
Cost of services			271,402				216,444				532,326				427,989
Gross profit			492,746				374,852				974,968				713,221
Selling, general, and administrative expenses			362,355				326,295				723,128				613,925
Operating income			130,391				48,557				251,840				99,296
Interest expense, net			36,879				38,778				75,494				80,541
Income from continuing operations before income taxes			93,512				9,779				176,346				18,755
Income tax expense			6,908				1,238				15,459				998
Income from continuing operations, net of income taxes			86,604				8,541				160,887				17,757
(Loss) income from discontinued operations, net of income taxes			(2,395	)			19,001				71,932				38,795
Net income			84,209				27,542				232,819				56,552
Net loss attributable to noncontrolling interests included in    continuing operations			(81	)			(666	)			(238	)			(1,198	)
Net income attributable to BrightSpring Health Services, Inc. and    subsidiaries		$	84,290			$	28,208			$	233,057			$	57,750
Net income per common share:
Basic income (loss) per share attributable to common shareholders:
Continuing operations		$	0.42			$	0.05			$	0.78			$	0.09
Discontinued operations		$	(0.01	)		$	0.09			$	0.35			$	0.20
Net income per share		$	0.41			$	0.14			$	1.13			$	0.29
Diluted income (loss) per share attributable to common shareholders:
Continuing operations		$	0.39			$	0.04			$	0.73			$	0.09
Discontinued operations		$	(0.01	)		$	0.09			$	0.32			$	0.18
Net income per share		$	0.38			$	0.13			$	1.05			$	0.27
Weighted average shares outstanding:
Basic			206,042				201,807				205,381				200,516
Diluted			220,276				216,336				221,191				214,963

BrightSpring Health Services, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

For the three and six months ended June 30, 2026 and 2025

(In thousands)

(Unaudited)

		For the Three Months Ended								For the Six Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Operating activities:
Net income		$	84,209			$	27,542			$	232,819			$	56,552
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization			41,423				41,839				80,517				84,000
Change in fair value of contingent consideration, net			—				305				—				2,003
Payment of contingent consideration in excess of acquisition date fair value			—				(1,500	)			—				(1,500	)
Provision for credit losses			12,306				32,557				22,865				40,658
Amortization of deferred debt issuance costs			2,948				2,794				5,764				5,543
Share-based compensation			19,493				22,802				23,169				38,483
Deferred income taxes, net			(2,336	)			(139	)			(9,529	)			3,892
Loss (gain) on sale of discontinued operations			1,544				—				(101,868	)			—
Other			1,086				267				1,014				3,186
Change in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable			(38,452	)			(33,307	)			(152,577	)			(112,756	)
Prepaid expenses and other current assets			(78,341	)			438				(86,132	)			24,411
Inventories			(14,844	)			(91,827	)			239,989				11,473
Trade accounts payable			(516	)			107,148				(87,503	)			53,277
Accrued expenses			16,921				(52,133	)			27,951				(43,490	)
Other assets and liabilities			(1,525	)			(7,710	)			(29,620	)			(15,058	)
Net cash provided by operating activities		$	43,916			$	49,076			$	166,859			$	150,674
Investing activities:
Purchases of property and equipment		$	(29,032	)		$	(24,425	)		$	(50,576	)		$	(42,057	)
Acquisitions of businesses			—				—				(42,203	)			(6,754	)
Proceeds from sale of discontinued operations			—				—				810,908				—
Other			834				1,182				1,066				1,377
Net cash (used in) provided by investing activities		$	(28,198	)		$	(23,243	)		$	719,195			$	(47,434	)
Financing activities:
Long-term debt repayments			(308,138	)			(11,928	)		$	(320,491	)		$	(23,720	)
Repayments of the Revolving Credit Facility, net			—				—				—				(63,300	)
Payments of debt issuance costs			(3,378	)			—				(3,378	)			—
Repurchases of shares of common stock			(60,000	)			—				(120,000	)			—
Proceeds from shares issued under share-based compensation plan			20,323				8,717				32,415				9,062
Taxes paid related to net share settlement of equity awards			(899	)			(1,749	)			(6,607	)			(4,512	)
Purchase of redeemable noncontrolling interest			(267	)			—				(267	)			(5,100	)
Payments of financing lease obligations			(1,775	)			(3,283	)			(5,822	)			(6,691	)
Net cash used in financing activities		$	(354,134	)		$	(8,243	)		$	(424,150	)		$	(94,261	)
Net (decrease) increase in cash and cash equivalents			(338,416	)			17,590				461,904				8,979
Cash and cash equivalents at beginning of period			888,797				52,642				88,477				61,253
Cash and cash equivalents at end of period		$	550,381			$	70,232			$	550,381			$	70,232
Cash and cash equivalents included in assets held for sale at end of period			—				162				—				162
Cash and cash equivalents included in continuing operations at end of period		$	550,381			$	70,070			$	550,381			$	70,070

BrightSpring Health Services, Inc. and Subsidiaries

Reconciliation of EBITDA and Adjusted EBITDA

For the three and six months ended June 30, 2026 and 2025

(Unaudited)

The following table reconciles net income from continuing operations to EBITDA and Adjusted EBITDA:

($ in thousands)		For the Three Months Ended								For the Six Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Net income from continuing operations		$	86,604			$	8,541			$	160,887			$	17,757
Income tax expense			6,908				1,238				15,459				998
Interest expense, net			36,879				38,778				75,494				80,541
Depreciation and amortization			41,423				41,839				80,517				82,671
EBITDA		$	171,814			$	90,396			$	332,357			$	181,967
Non-cash share-based compensation (1)			19,488				19,508				32,604				31,982
Acquisition, integration, and transaction-related costs (2)			6,630				19,828				12,730				29,349
Restructuring and divestiture-related and other costs (3)			7,573				12,785				17,575				30,281
Total adjustments		$	33,691			$	52,121			$	62,909			$	91,612
Adjusted EBITDA		$	205,505			$	142,517			$	395,266			$	273,579

(1)Represents non-cash share-based compensation to certain members of our management and full-time employees.

(2)Represents transaction costs incurred in connection with planned, completed, or terminated acquisitions, which include investment banking fees, legal diligence and related documentation costs, finance and accounting diligence and documentation; costs associated with the integration of acquisitions, including any facility consolidation, integration travel, or severance; and costs associated with other planned, completed, or terminated non-routine transactions.

(3)Represents costs associated with restructuring-related activities, including closure, and related license impairment, and severance expenses associated with certain enterprise-wide or significant business line cost-savings measures.

BrightSpring Health Services, Inc. and Subsidiaries

Reconciliation of Adjusted EPS

For the three and six months ended June 30, 2026 and 2025

(Unaudited)

The following table reconciles diluted EPS to Adjusted EPS:

(shares in thousands)		For the Three Months Ended								For the Six Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Diluted EPS		$	0.39			$	0.04			$	0.73			$	0.09
Non-cash share-based compensation (1)			0.09				0.09				0.15				0.15
Acquisition, integration, and transaction-related costs (1)			0.03				0.09				0.06				0.14
Restructuring and divestiture-related and other costs (1)			0.03				0.06				0.08				0.14
Income tax impact on adjustments (2)			(0.09	)			(0.06	)			(0.19	)			(0.10	)
Adjusted EPS		$	0.45			$	0.22			$	0.83			$	0.42
Weighted average common shares outstanding used in calculating      diluted U.S. GAAP net income per share			220,276				216,336				221,191				214,963
Weighted average common shares outstanding used in calculating      diluted Non-GAAP income per share			220,276				216,336				221,191				214,963

(1) This adjustment reflects the per share impact of the adjustment reflected within the definition of Adjusted EBITDA.

(2) The income tax impact of non-GAAP adjustments is calculated using the estimated tax rate for the respective non-GAAP adjustment. For all periods presented, the income tax impact on adjustments is inclusive of a discrete tax benefit related to share-based compensation.

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