Accendra Health, Inc. · NYSE:ACH
Accendra Health — Q1 2026 Earnings Presentation
17 slides from Accendra Health's earnings presentation, May 11, 2026
Slide 1: First Quarter 2026 Continuing Operations Supplemental Slides
First Quarter 2026 Continuing Operations Supplemental Slides May 11, 2026
Slide 2: About Accendra Health
p. 2 About Accendra Health • Accendra Health, Inc. is a leading nationwide provider of products, technology, and services that support health beyond the hospital for millions of people each year. • We connect patients, providers, and insurers, delivering innovative solutions that help promote better
Slide 3: Safe Harbor
p. 3 This presentation is intended to be disclosure through methods reasonably designed to provide broad, non-exclusionary distribution to the public in compliance with the SEC’s Fair Disclosure Regulation. This presentation contains certain “forward-looking” statements made pursuant to the Safe Har
Slide 4: Non-GAAP
p. 4 Non-GAAP This presentation contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (GAAP). In general, the measures exclude items and charges that (i) management does not believe reflect the Company’s core business and relate more to
Slide 5: Broad Product Mix and Diversified Payor Portfolio Support a Resilient Earnings Profile
p. 5 Accendra’s Broad Product Mix and Diversified Payor Portfolio Support a Resilient Earnings Profile Diverse Earnings Profile 19.0% 17.0% 14.0% 8.0% 2.0% 40.0% Diabetes Wound Care Ostomy Urology Incontinence Breast Pumps Sleep Equipment Oxygen Ventilators HME & DME NPWT Diabetes Diverse Mix Across
Slide 6: Historical Total Company and Continuing Operations Margins
p. 6 Historical Total Company(1) 19% 47% 4% 14% -% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% FY25A FY25A Gross Profit Margin % Adj. EBITDA Margin % Gross Profit Margin % Adj. EBITDA Margin % Higher Margin Profile Post P&HS Divestiture Continuing Operations(2) (1) Reflects total Company results which is
Slide 7: P&HS Net Operating and Investing Cash Flows
p. 7 P&HS Net Operating and Investing Cash Flows(1) P&HS Cash Flow Observations P&HS was a significant consumer of cash in recent years, driven by: Declining P&HS revenue & profitability Very large and volatile working capital swings Significant historical and needed future investment in bot
Slide 8: Durable Post-Investment Earnings Support Long-Term Value Creation
p. 8 Durable Post-Investment Earnings Support Accendra Health’s Long-Term Value Creation Adjusted EBITDA (–) PSE Capex Adjusted EBITDA (-) PSE Capex Observations Post-Investment Earnings Power FY25A(1) FY26E (Outlook Midpoint)(2) Adjusted EBITDA (non-GAAP) $375 $345 (+) Non-Cash Convert to Sale Writ
Slide 9: Q1 2026 Adjusted EBITDA and Free Cash Flow
p. 9 Q1 2026 Adjusted EBITDA and Free Cash Flow Three Months Ended March 31, 2026 Loss from continuing operations, net of tax, as reported (GAAP) $ (6) Income tax benefit (10) Interest expense, net 32 Acquisition-related charges and intangible amortization 29 Exit and realignment income, net (24) Ot
Slide 10: Net Revenue Supplemental Information
p. 10 $674 $628 Q1 2025 Actual Large Commercial Payor Volume Growth Collection Rate Q1 2026 Actual Net Revenue Supplemental Information $ millions
Slide 11: Adjusted EBITDA Supplemental Information
p. 11 $96 $58 Q1 2025 Actual Large Commercial Payor Net of Cost Reductions Volume / Mix Manufacturer Cost Increases & Inflation Collection Rate Q1 2026 Actual Adjusted EBITDA Supplemental Information(1) $ millions (1) Adjusted EBITDA is a non-GAAP financial measure a reconciliation to the most compa
Slide 12: Cash Flow Supplemental Information
p. 12 The items above are notable one-time cash (outflows)/inflows which are included in our Statement of Cash Flows in our first quarter 2026 Form 10-Q but which are excluded from Free Cash Flow shown on slide 9 due to their one-time nature. $ millions Cash Flow Supplemental Information Three Month
Slide 13: Comprehensive Balance Sheet Optimization Summary
p. 13 Comprehensive Balance Sheet Optimization Summary Addresses near-term maturities and roughly doubles weighted average life to ~5.5 years Reduces funded debt through the exchange offers Enhances liquidity runway with a go-forward RCF sized to the business Supports free cash flow through
Slide 14: Illustrative Pro Forma Funded Debt
p. 14 3/31/2026 Illustrative Pro Forma $450M Revolving Credit Facility 255 Term Loan A 326 Term Loan B 511 511 Unsecured Notes Due 2029 479 Unsecured Notes Due 2030 552 New $300M Revolving Credit Facility - New 1L Notes 539 New 2L Notes 702 Total Funded Debt $ 2,123 $ 1,752 Funded Debt Reduction (1)
Slide 15: Enhanced Maturity Profile
p. 15 Enhanced Maturity Profile $450 $326 $511 $479 $552 $- $250 $500 $750 $1,000 2026 2027 2028 2029 2030 2031 2032 2033 $450M Revolving Credit Facility Term Loan A Term Loan B Unsecured Notes Due 2029 Unsecured Notes Due 2030 $300 $511 $539 $702 $- $250 $500 $750 $1,000 2026 2027 2028 2029 2030 20
Slide 16: GAAP to Non-GAAP Reconciliations
p. 16 GAAP to Non-GAAP Reconciliations $ millions Net loss, as reported (GAAP) $ (1,101) Loss from discontinued operations, net of tax 998 Income tax provision 1 Interest expense, net 107 Acquisition-related charges and intangible amortization (1) 96 Transaction breakage fee (2) 80 Exit and realignm
Slide 17: GAAP to Non-GAAP Reconciliations, continued
p. 17 GAAP to Non-GAAP Reconciliations, continued The following items have been excluded in our non-GAAP financial measures: (1) Acquisition-related charges and intangible amortization for the year ended December 31, 2025 includes $22 million of acquisition-related costs related to the terminated ac