Brightspring Health Services, Inc. · NASDAQ:BTSG
Brightspring Health Services — Q3 2025 Earnings Presentation
15 slides from Brightspring Health Services's earnings presentation, Oct 28, 2025
Slide 1: Third Quarter 2025 Earnings Presentation
Third Quarter 2025 Earnings Presentation October 28, 2025 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 Third Quarter 2025 (for Continuing Operations) $3,334M 28.2% $160M 37.2% Revenue Revenue Growth Adj. EBITDA Adj. EBITDA Growth Third Quarter 2025 ($ in millions) Y/Y Growth Pharmacy Solutions Pharmacy Solutions Revenue $2,967 +31.0% acy Hom arm e an Infusion and Spe
Slide 6: Q3 2025 Revenue and Adjusted EBITDA Results (for Continuing Operations)
Q3 2025 Revenue and Adjusted EBITDA Results (for Continuing Operations) ($ in millions) Revenue Total Revenue +28.2% $3,334 $367 $2,601 Provider Services $336 +9.4% Pharmacy Solutions $2,967 $2,266 +31.0% Q3 2024 Q3 2025 ($ in millions) Adjusted EBITDA(1) Adj. EBITDA 4.5% 4.8% margin(1) Total Adjust
Slide 7: Q3 2025 Pharmacy Solutions Segment Performance (for Continuing Operations)
Q3 2025 Pharmacy Solutions Segment Performance (for Continuing Operations) ($ in millions) Q3 2025 Revenue Infusion and Specialty Pharmacy Home and Community Pharmacy Pharmacy Solutions $2,967 +31.0% $590 $2,266 +0.4% Business Metrics $588 $2,377 $1,678 +41.6% Prescriptions dispensed 10,793 (thousan
Slide 8: Q3 2025 Provider Services Segment Performance (for Continuing Operations)
Q3 2025 Provider Services Segment Performance (for Continuing Operations) ($ in millions) Q3 2025 Revenue Home Health Care Rehab Care Personal Care Provider Services +9.4% $367 $336 $102 $97 +5.5% Business Metrics $76 $70 +8.8% $168 +12.0% $188 Home Health Care average 29,592 daily census +3.3% y/y
Slide 9: Financial Performance: Three Months Ended September 30, 2025 (for Continuing Operations)
Financial Performance: Three Months Ended September 30, 2025 (for Continuing Operations) Three Months Ended September 30, 2024 vs. Three Months Ended September 30, 2025 Pharmacy Solutions Provider Services Three Months Three Months Three Months Three Months ($ in millions, Change ($ in millions, Cha
Slide 10: 2025 Guidance, Excluding Community Living
2025 Guidance, Excluding Community Living 2025 Fiscal Year Guidance Prior Prior Prior Prior Prior Updated FY 2025 FY 2025 FY 2025 FY 2025 FY 2025 FY 2025 Guidance1 Guidance1 Guidance1 Guidance1 Guidance1 Guidance1 Provided Provided Provided Provided Provided Provided ($ in millions) January 20, 2025
Slide 11: De-leveraging Plan and Capital Allocation Priorities
De-leveraging Plan and Capital Allocation Priorities De-leveraging driven by operational performance and capital allocation • Capex investments: 1% of revenue Pre IPO / Post-Equity and Debt Proforma Long-Term Transactions Leverage Leverage Leverage Cash Flow • Sustainable net working capital positio
Slide 12: Appendix
Appendix 12
Slide 13: Historical Provider Services Financials, excluding Community Living
Historical Provider Services Financials, excluding Community Living FY23 and FY24 Provider Revenue and EBITDA Revenue Q1’23 Q2’23 Q3’23 Q4’23 FY23 Q1’24 Q2’24 Q3’24 Q4’24 FY24 Q1’25 Q2’25 Q3’25 ($ in millions) Home Health 134 135 141 147 557 148 158 168 182 655 178 185 188 Care Rehab Care 59 63 61 6
Slide 14: Continuing Operations Non-GAAP Reconciliations
Continuing Operations Non-GAAP Reconciliations For the Three Months Ended For the Nine Months Ended ($ in thousands) September 30, 2024 September 30, 2025 September 30, 2024 September 30, 2025 Net (Loss) Income from Continuing Operations $ (25,672) $ 37,488 $ (73,213) $ 55,245 Income Tax Expense (Be
Slide 15: 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) Sept 30, 2024 Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sept 30, 2025 Pre-IPO Shares (12/31/2023) 117,857 117,857 117,857 117,857 117,857 Initi
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