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agilon health cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$46.6M in Q3 2026 · −$17.0M over twelve months

Operating cash flow$49.9M
Capital spending−$3.3M
Free cash flow+$46.6M
Cash / net income1.4×

Analysis

In Q3 2026, agilon health generated $49.9M of operating cash flow and spent $3.3M on capital projects, leaving free cash flow of $46.6M. That is $67.9M more than in Q3 2025 (−$21.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$4.2M; the largest uses were capital spending ($12.8M), operating cash flow ($4.2M), other financing ($657K); besides operations, cash came from other investing ($92.4M); the cash balance rose by $74.7M.

Operating cash flow was $49.9M against net income of $34.9M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$18.9M, depreciation & amortization +$6.7M, other non-cash +$362K.

Free cash flow

agilon health: free cash flow by quarteragilon health: free cash flow by quarter$13.2MQ4 2024−$35.8MQ1 2025−$38.3MQ2 2025−$21.3MQ3 2025−$23.5MQ4 2025$20.6MQ1 2026−$60.7MQ2 2026$46.6MQ3 2026
Operating cash flow less capital spending.
agilon health: operating cash flow against capital spendingagilon health: operating cash flow against capital spendingOperating cash flowCapital spending$16.4M$3.3MQ4 2024−$32.0M$3.8MQ1 2025−$35.1M$3.2MQ2 2025−$18.2M$3.2MQ3 2025−$20.5M$3.0MQ4 2025$23.7M$3.1MQ1 2026−$57.3M$3.4MQ2 2026$49.9M$3.3MQ3 2026
Latest (Q3 2026): Operating cash flow $49.9M, Capital spending $3.3M.

Capital allocation, year by year

agilon health: where the cash came from (up) and went (down), by fiscal yearagilon health: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$148MFY2021: Net borrowing −$19.9MFY2021: Shares issued $36.2MFY2021: Asset sales −$1.3MFY2021: Capital spending −$6.6M$36.2MFY2021FY2022: Operating cash flow −$131MFY2022: Net borrowing −$5.0MFY2022: Shares issued $33.1MFY2022: Asset sales $500KFY2022: Capital spending −$15.4M$33.6MFY2022FY2023: Operating cash flow −$156MFY2023: Net borrowing −$5.0MFY2023: Shares issued $11.9MFY2023: Asset sales $2.2MFY2023: Capital spending −$15.8MFY2023: Acquisitions −$45.3MFY2023: Buybacks −$200M$14.1MFY2023FY2024: Operating cash flow −$57.8MFY2024: Net borrowing −$3.8MFY2024: Shares issued $1.2MFY2024: Capital spending −$13.3M$1.2MFY2024FY2025: Operating cash flow −$106MFY2025: Shares issued −$3.0MFY2025: Capital spending −$13.2MFY2025
Over these 5 years operating cash flow totalled −$599M; the largest uses were operating cash flow ($599M) and buybacks ($200M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$174M
Debt$35.0M
Net cash$139M
Due within a year$19.2M
Cash runwaymore than 10 years

agilon health is burning cash: its operations consume cash, a free cash flow of −$17.0M a year at the current rate against $174M of cash and investments: a runway of more than ten years at that rate; $19.2M of debt also comes due within a year, which the cash covers before any new financing.

agilon health: debt maturities by year (FY2025)agilon health: debt maturities by year (FY2025)$19.2MYear 1$15.8MYear 3
Principal due in each year as disclosed in the annual report, against $174M of cash and investments now.

Where the cash came from and went

agilon health: sources (+) and uses (−) of cash, Q3 2026agilon health: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$67.6MOperating cash flow$49.9MOther investing$21.1MCapital spending−$3.3MOther financing−$124K
agilon health: sources (+) and uses (−) of cash, TTM to Q3 2026agilon health: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$92.4MCash drawn (+) / kept (−)−$74.7MCapital spending−$12.8MOperating cash flow−$4.2MOther financing−$657K

From profit to cash

agilon health: net income to operating cash flow, Q3 2026agilon health: net income to operating cash flow, Q3 2026Net income$34.9MDepreciation & amortization$6.7MStock-based pay$18.9MOther non-cash$362KOperating cash flow$49.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$49.9M−$3.3M——−$67.6M$46.6M
Q2 2026−$57.3M−$3.4M——$32.8M−$60.7M
Q1 2026$23.7M−$3.1M−$3.5M—−$37.9M$20.6M
Q4 2025−$20.5M−$3.0M——−$2.0M−$23.5M
Q3 2025−$18.2M−$3.2M——−$268K−$21.3M
Q2 2025−$35.1M−$3.2M——−$32.8M−$38.3M
Q1 2025−$32.0M−$3.8M—−$161K$55.2M−$35.8M
Q4 2024$16.4M−$3.3M—−$22K−$40.1M$13.2M

agilon health: income statement and cash flow

agilon health, Q3 2026: revenue $1.5B (+6% year over year), operating margin 1.6%. The chart follows the revenue to costs, profit and cash.

agilon health: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.