Filing Flows › AdaptHealth (AHCO) › Q1 2026
AdaptHealth (AHCO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
AdaptHealth (AHCO) reported revenue of $820M for the first quarter 2026 (Q1 2026), +5% from a year earlier and -3% from the quarter before. Operating margin was 0.7%, net loss $14.9M (1.8% of revenue).
AdaptHealth, Q1 2026: revenue $820M (+5% year over year), operating margin 0.7%, net loss $14.9M, operating cash flow $93.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $820M | -3% | +5% |
| Operating profit | $5.5M | — | -76% |
| Net earnings | −$14.9M | — | — |
| Operating cash flow | $93.7M | -49% | -2% |
What changed
Revenue was $819.8M in Q1 2026, up 5% year over year and down 3% from the previous quarter. Sleep Health was the largest line at 44% of revenue. Sleep Health added $42.1M year over year (up 13%), 101% of the total change. Wellness at Home declined 10%.
Operating profit was $5.5M, a 0.7% margin (down 2.3 points year over year). Operating profit fell $17.7M even though revenue rose $41.9M versus Q1 2025, so costs grew faster than sales. Total costs grew 8% against revenue growth of 5%. The fastest-growing cost line was General & admin (+10%). The quarter ended with a net loss of $14.9M, narrower than the previous quarter's $101.5M loss. Net interest and other expense of $25.6M was the main reason.
Operating cash flow was $93.7M (down 2% year over year). Non-cash charges added back $106.5M of depreciation and amortization and $6.5M of share-based compensation. Capital expenditures of $121.2M exceeded it, leaving free cash flow of −$27.5M.
Questions
What was AdaptHealth's revenue in the first quarter 2026?
AdaptHealth (AHCO) reported revenue of $820M for the first quarter 2026 (Q1 2026), +5% from a year earlier and -3% from the quarter before.
Was AdaptHealth profitable in the first quarter 2026?
Operating profit was $5.5M (0.7% of revenue) and net loss $14.9M.
Source: AdaptHealth 10-Q on SEC EDGAR.