BrightSpring Health Services, Inc. reported fourth‑quarter 2025 revenue of $3.551 billion, up 29.3% from $2.75 billion a year earlier, and adjusted EBITDA of $184 million, a 40.7% increase from $130 million in Q4 2024. The company’s earnings per share were $0.33, slightly below consensus of $0.34, a miss of $0.01. Full‑year 2025 revenue totaled $12.91 billion, up 28.2% from $10.07 billion in 2024, while full‑year adjusted EBITDA reached $618 million, a 34.2% rise from $460 million a year earlier.
The growth was driven primarily by the Pharmacy Solutions segment, especially its Infusion and Specialty Pharmacy businesses, and by the Provider Services segment. Adjusted EBITDA margin expanded to 5.2% from 4.7% in the prior year, reflecting a favorable mix shift and disciplined cost management across both segments.
BrightSpring guided for 2026 revenue of $14.45 billion to $15.0 billion and adjusted EBITDA of $760 million to $790 million, both figures excluding the Community Living business. The guidance represents 11.9% to 16.2% revenue growth and 23.1% to 27.9% EBITDA growth over 2025, underscoring management’s confidence in continued expansion.
"In 2025, BrightSpring's financial performance was driven by ongoing demand for our high‑quality and differentiated services and operational capabilities." – Jon Rousseau, Chairman, President, and Chief Executive Officer. "We are enthusiastic about what's in front of us in 2025, as we further drive our mission to reach people who need the Company's beneficial service solutions. We expect the recently announced divestiture of Community Living to result in a more streamlined organization with greater capital flexibility and increased growth rates." "Looking ahead to 2026, BrightSpring aims to maintain its focus on providing high‑quality, affordable, and well‑coordinated patient care. This approach not only offers considerable value to the healthcare system and the people they serve but also benefits the company itself. The strategic emphasis remains on..."
The results reinforce BrightSpring’s strategic focus on high‑margin Pharmacy Solutions and Provider Services, while the divestiture of Community Living signals a shift toward a leaner, more capital‑efficient organization. The optimistic 2026 guidance, coupled with strong margin expansion, suggests that management expects continued demand growth and operational leverage, positioning the company for sustained profitability in a competitive home‑care market.
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