Slide 1: 2nd Quarter 2026 Earnings Supplement
2nd Quarter 2026 Earnings Supplement August 2026 1 PLEASE REFER TO SLIDE 2 FOR THE SAFE HARBOR LANGUAGE REGARDING THIS PRESENTATION
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the
Slide 3: 2nd Quarter 2026 Results: Key Highlights
2nd Quarter 2026 Results: Key Highlights 2Q Financial Highlights Other Highlights • Revenue: • Share repurchase program: • 5.3% growth vs. 2Q 2025 (“the prior year period”) • During 2Q, nearly 1.2 million shares • 11.0% growth when excluding impact of a large, were repurchased for $31.5 million form
Slide 4: 2nd Quarter 2026 Results: 3-Month Highlights
2nd Quarter 2026 Results Highlights for 3-Month Period Ending June 30, 2026 Revenue Gross Profit Contribution from Large, Former Client* $M $M +5.3% +13% • 13% increase in gross $332.9 as reported • 5.3% growth vs. 2Q25; profit vs. 2Q25 +11% 11% when excluding the impact of large, • Gross margin exp
Slide 5: 2nd Quarter 2026 Results: 6-Month Highlights
2nd Quarter 2026 Results Highlights for 6-Month Period Ending June 30, 2026 Revenue Gross Profit Contribution from Large, Former Client* $M $M • 11% increase in gross $656.9 as reported +3.4% • 3.4% growth vs. 1H25; +11% profit vs. 1H25 +12% 12% when excluding the impact of large, • Gross margin exp
Slide 6: Business Metrics
2nd Quarter 2026 Results Business Metrics Avg. Eligible Utilization1 Members Female Utilization In 000s 0.55% • 2Q26 utilization of • 6.6% increase in 0.49% 7,185 average members 0.45% 6,743 vs. prior year period • Longer-term utilization continues 0.35% within the customary narrow range 0.25% 1Q 24
Slide 7: Last Twelve Months Trends
2nd Quarter 2026 Results Last Twelve Months Trends LTM Revenue LTM Gross Profit $B $M $1.31B $322M $1.24B • $322M in trailing • $1.31B in trailing $277M twelve-month gross twelve-month profit, an increase of revenue, an 16% relative to the increase of 5.5% year ago period relative to the year ago pe
Slide 8: Balance Sheet and Cash Position
Balance Sheet and Cash Position • Maintaining balance sheet strength and operational flexibility: • $237 million in cash, cash equivalents and marketable securities as of June 30, 2026 • No debt, and the $200 million revolving credit facility remains undrawn • Nearly 1.2 million shares repurchased d
Slide 9: Guidance Recap
2st Quarter 2026 Results Guidance Recap Three Month Period Ending Twelve Month Period Ending September 30, 2026 December 31, 2026 Revenue $335 - $345 million $1.360 - $1.385 billion Revenue growth 6.9% – 10.1% 5.5% - 7.5%, or 9.7% - 11.7% excluding the $48.5M of revenue in 2025 from the large client
Slide 10: Appendix
Appendix 10 PLEASE REFER TO SLIDE 2 FOR THE SAFE HARBOR LANGUAGE REGARDING THIS PRESENTATION
Slide 11: Reconciliations of Non-GAAP Financial Guidance
Reconciliations of Non-GAAP Financial Guidance Three Months Ending Year Ending (in thousands) September 30, 2026 December 31, 2026 Low High Low High Revenue $335,000 $345,000 $1,360,000 $1,385,000 Net Income $24,500 $26,700 $104,800 $109,900 Add: Depreciation and Amortization 2,300 2,300 8,800 8,800
Slide 12: Reconciliations of Non-GAAP Financial Guidance
Reconciliations of Non-GAAP Financial Guidance Three Months Ending Year Ending (in thousands) September 30, 2026 December 31, 2026 Low High Low High Net Income $24,500 $26,700 $104,800 $109,900 Add: Stock-based Compensation Expense 21,500 21,500 80,000 80,000 Income tax effect of non-GAAP (5,400) (5
Slide 13: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures (in thousands) 1Q 25 2Q 25 3Q 25 4Q 25 1Q26 2Q26 Net income $15,059 $17,112 $13,864 $12,485 $24,232 $28,052 Add: Depreciation and 1,108 1,205 1,268 1,367 1,483 1,623 amortization Stock-based 32,512 32,383 32,173 34,799 19,721 20,478 compensation