Filing Flows › Astrana Health (ASTH) › Q2 2026 › vs Q2 2025
Astrana Health (ASTH) Q2 2026 vs Q2 2025 (year over year)
Astrana Health's revenue rose $318M (+49%) from $655M in Q2 2025 to $973M in Q2 2026. The biggest changes: Health Care Capitation Revenue +$292M (+47%); Management Service +$10.6M (+413%); Health Care Other +$6.4M (+42%). Operating margin 3.5% against 3.1% (+0.4 pts).
Astrana Health, Q2 2026: revenue $973M (+48% year over year), operating margin 3.5%, net earnings $19.7M, operating cash flow $32.7M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 3.5% | 3.1% | +0.4 pts |
| Net margin | 2.0% | 1.4% | +0.6 pts |
| Free cash flow margin | 3.0% | 13.7% | -10.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Health Care Capitation Revenue | $906M | $614M | $292M | +47% |
| Health Care Patient Service | $23.0M | $17.9M | $5.1M | +29% |
| Health Care Other | $21.8M | $15.4M | $6.4M | +42% |
| Management Service | $13.2M | $2.6M | $10.6M | +413% |
| Product and Service Other | $8.7M | $4.8M | $3.9M | +80% |
| Revenue | $973M | $655M | $318M | +49% |
| Operating profit | $34.3M | $20.3M | $14.0M | +69% |
| Costs & expenses | $938M | $634M | $304M | +48% |
| Pre-tax earnings | $27.2M | $16.8M | $10.4M | +62% |
| Other expense, net | $7.1M | $3.5M | $3.6M | +102% |
| Cost of revenue | $868M | $577M | $292M | +51% |
| General & admin | $54.1M | $50.7M | $3.4M | +7% |
| Other operating costs | $15.6M | $6.9M | $8.6M | +125% |
| Loss borne by minority interests | $1.3M | −$793K | $2.1M | — |
| Net earnings | $19.7M | $9.4M | $10.3M | +109% |
| Income tax | $8.8M | $6.6M | $2.1M | +33% |
| Depreciation & amortization | $15.5M | $6.9M | $8.6M | +125% |
| Share-based compensation | $11.8M | $11.7M | $79K | +0.7% |
| Working capital & other | $14.3M | −$62.9M | $77.2M | — |
| Operating cash flow | $32.7M | $90.9M | −$58.2M | -64% |
| Free cash flow (OCF − capex) | $28.9M | $89.5M | −$60.6M | -68% |
| Capital expenditures | $3.9M | $1.4M | $2.5M | +173% |
Questions
How much did Astrana Health's revenue grow year over year in Q2 2026?
Astrana Health's revenue rose $318M (+49%) from $655M in Q2 2025 to $973M in Q2 2026.
What drove Astrana Health's revenue change in Q2 2026?
Health Care Capitation Revenue +$292M (+47%); Management Service +$10.6M (+413%); Health Care Other +$6.4M (+42%).