Brightspring Health Services, Inc. · NASDAQ:BTSG
Brightspring Health Services — Q4 2025 Earnings Presentation
16 slides from Brightspring Health Services's earnings presentation, Feb 27, 2026
Slide 1: Fourth Quarter and Full Year 2025 Earnings Presentation
Fourth Quarter and Full Year 2025 Earnings Presentation February 27, 2026 1
Slide 2: Forward-Looking Statements; Non-GAAP Financial Information
Forward-Looking Statements; Non-GAAP Financial Information Forward-Looking Statements • 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 disea
Slide 3: A leading pharmacy and health care provider in the U.S.
A leading pharmacy and health care provider in the U.S., serving large and growing markets that have significant unmet needs, with high-quality and integrated services that improve outcomes and reduce cost 3
Slide 4: BrightSpring At A Glance
BrightSpring At A Glance Providing Needed Solutions Serving large and growing healthcare populations, characterized by high-cost, high-acuity, and significant complexity, with patient-centered and high-quality services delivered in preferred and lower-cost home and community settings Focus on Oper
Slide 5: BrightSpring Financial Highlights
BrightSpring Financial Highlights Fourth Quarter 2025 (for Continuing Operations) $3,551M 29.3% $184M 40.7% Revenue Revenue Growth Adj. EBITDA Adj. EBITDA Growth Fourth Quarter 2025 ($ in millions) Y/Y Growth Pharmacy Solutions Revenue $3,157 +31.7% Infusion and Specialty Revenue 2,564 +42.7% Home a
Slide 6: Q4 2025 & FY 2025 Revenue and Adjusted EBITDA Results
Q4 2025 & FY 2025 Revenue and Adjusted EBITDA Results (for Continuing Operations) ($ in millions) Q4 2025 Revenue ($ in millions) FY 2025 Revenue +28.2% $12,911 $3,551 $1,465 +29.3% $10,072 +11.1% $2,747 $394 $1,318 +12.6% $350 $11,446 $3,157 $8,754 +30.7% $2,397 +31.7% Q4 2024 Q4 2025 FY24 FY25 ($
Slide 7: Q4 2025 Pharmacy Solutions Segment Performance
Q4 2025 Pharmacy Solutions Segment Performance (for Continuing Operations) ($ in millions) Q4 2025 Revenue Infusion and Specialty Pharmacy Home and Community Pharmacy Pharmacy Solutions $3,157 +31.7% $593 $2,397 $601 (1.4%) Business Metrics $2,564 $1,796 +42.7% Prescriptions dispensed 10,845 (thousa
Slide 8: Q4 2025 Provider Services Segment Performance
Q4 2025 Provider Services Segment Performance (for Continuing Operations) ($ in millions) Q4 2025 Revenue Home Health Care Rehab Care Personal Care Provider Services +12.6% $394 $350 +4.2% $102 $98 Business Metrics $75 $70 +7.9% +19.0% $217 34,593 $182 Home Health Care average daily census +15.2% y/
Slide 9: Financial Performance: Three Months Ended December 31, 2025
Financial Performance: Three Months Ended December 31, 2025 (for Continuing Operations) Three Months Ended December 31, 2024 vs. Three Months Ended December 31, 2025 Pharmacy Solutions Provider Services Three Months Three Months Three Months Three Months ($ in millions, Change ($ in millions, Change
Slide 10: Financial Performance: Twelve Months Ended December 31, 2025
Financial Performance: Twelve Months Ended December 31, 2025 (for Continuing Operations) Twelve Months Ended December 31, 2024 vs. Twelve Months Ended December 31, 2025 Pharmacy Solutions Provider Services Twelve Months Twelve Months Twelve Months Twelve Months ($ in millions, Change ($ in millions,
Slide 11: 2026 Guidance, Excluding Community Living
2026 Guidance, Excluding Community Living 2026 Fiscal Year Guidance FY 2025 FY 2026 Guidance1 ($ in millions) December 31, 2025 Provided February 27, 2026 $12,600 – $13,100 Pharmacy Revenue $11,446 10.1% – 14.5% y/y1 $1,850 – $1,900 Provider Revenue $1,465 26.3% – 29.7% y/y1 $14,450 – $15,000 Total
Slide 12: De-leveraging Plan and Capital Allocation Priorities
De-leveraging Plan and Capital Allocation Priorities De-leveraging driven by operational performance and capital allocation Pre IPO / Post-Equity and Debt Long-Term 2025 • Capex investments: 1% of revenue Transactions Leverage Leverage Cash Flow Leverage(1)(2) Ratio(1)(2) Ratio Target Generation • S
Slide 13: Appendix
Appendix 13
Slide 14: Historical Provider Services Financials, excluding Community Living
Historical Provider Services Financials, excluding Community Living FY24 and FY25 Provider Revenue and EBITDA Revenue Q1’24 Q2’24 Q3’24 Q4’24 FY24 Q1’25 Q2’25 Q3’25 Q4’25 FY25 ($ in millions) Home Health Care 148 158 168 182 655 178 185 188 217 768 Rehab Care 67 70 70 70 277 70 73 76 75 295 Personal
Slide 15: Continuing Operations Non-GAAP Reconciliations
Continuing Operations Non-GAAP Reconciliations For the Three Months Ended For the Twelve Months Ended ($ in thousands) December 30, 2024 December 30, 2025 December 30, 2024 December 30, 2025 Net Income (Loss) from Continuing Operations $ 4,282 $ 49,551 $ (68,931) $ 104,796 Income Tax Expense (Benefi
Slide 16: Basic and Diluted Weighted-Average Shares Outstanding Calculation
Basic and Diluted Weighted-Average Shares Outstanding Calculation utilized in calculating Diluted EPS to Adjusted EPS For the Three Months Ended (in thousands) Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sept 30, 2025 Dec 31, 2025 Publicly owned shares (excluding KKR and 57,926 70,721 98,627 103,138 130,
BrightSpring Health Services — Q4 2025 Earnings Presentation on 6ix