Filing Flows › BrightSpring Health Services (BTSG) › Q1 2025
BrightSpring Health Services (BTSG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 2, 2025
BrightSpring Health Services (BTSG) reported revenue of $2.9B for the first quarter 2025 (Q1 2025), +12% from a year earlier and -6% from the quarter before. Operating margin was 1.8%, net earnings $29.0M (1.0% of revenue).
BrightSpring Health Services, Q1 2025: revenue $2.9B (+12% year over year), operating margin 1.8%, net earnings $29.0M, operating cash flow $102M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | -6% | +12% |
| Gross profit | $338M | -20% | +16% |
| Operating profit | $50.7M | -36% | — |
| Net earnings | $29.0M | +88% | — |
| Operating cash flow | $102M | +12% | — |
| Free cash flow | $84.0M | +12% | — |
What changed
Revenue was $2.9B in Q1 2025, up 12% year over year and down 6% from the previous quarter. Medicare D was the largest line at 32% of revenue. Commercial Insurance added $0.17B year over year (up 31%), 57% of the total change. Medicare B declined 12%.
Gross margin was 11.8%, up 0.4 points from a year earlier. Operating profit was $0.05B, a 1.8% margin (up 2.4 points year over year). Operating expenses fell 7% while revenue rose 12%. Net earnings were $0.03B. The effective tax rate was -0.8%.
Operating cash flow was $0.10B, 350% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.01B. Capital expenditures of $0.02B left free cash flow of $0.08B.
Questions
What was BrightSpring Health Services' revenue in the first quarter 2025?
BrightSpring Health Services (BTSG) reported revenue of $2.9B for the first quarter 2025 (Q1 2025), +12% from a year earlier and -6% from the quarter before.
Was BrightSpring Health Services profitable in the first quarter 2025?
Operating profit was $50.7M (1.8% of revenue) and net earnings $29.0M.