Filing Flows › BrightSpring Health Services (BTSG) › Q3 2026 › vs Q2 2026
BrightSpring Health Services (BTSG) Q3 2026 vs Q2 2026 (quarter over quarter)
BrightSpring Health Services's revenue rose $340M (+9%) from $3.9B in Q2 2026 to $4.2B in Q3 2026. The biggest changes: Product +$294M (+9%); Medicaid +$45.6M (+10%). Gross margin 12.3% against 12.7% (-0.4 pts).
BrightSpring Health Services, Q3 2026: revenue $4.2B (+26% year over year), operating margin 3.8%, net earnings $100M, operating cash flow $204M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 12.3% | 12.7% | -0.4 pts |
| Operating margin | 3.8% | 3.4% | +0.4 pts |
| Net margin | 2.4% | 2.2% | +0.2 pts |
| Free cash flow margin | 4.3% | 0.4% | +3.9 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Medicare D | $1.2B | $1.1B | $97.0M | +8% |
| Commercial Insurance | $1.2B | $1.1B | $133M | +12% |
| Medicare C | $775M | $720M | $54.4M | +8% |
| Medicare A | $319M | $310M | $9.1M | +3% |
| Private and Other | $123M | $113M | $9.7M | +9% |
| Medicare B | $21.7M | $30.6M | −$8.9M | -29% |
| Product | $3.7B | $3.4B | $294M | +9% |
| Medicaid | $482M | $437M | $45.6M | +10% |
| Revenue | $4.2B | $3.9B | $340M | +9% |
| Gross profit | $519M | $493M | $25.8M | +5% |
| Cost of revenue | $3.7B | $3.4B | $314M | +9% |
| Operating profit | $160M | $130M | $30.1M | +23% |
| Operating expenses | $358M | $362M | −$4.3M | -1% |
| Pre-tax earnings | $129M | $91.1M | $37.8M | +42% |
| Other expense, net | $31.5M | $39.3M | −$7.7M | -20% |
| Net earnings | $100M | $84.2M | $16.1M | +19% |
| Income tax | $28.6M | $6.9M | $21.7M | +315% |
| Depreciation & amortization | $38.4M | $41.4M | −$3.1M | -7% |
| Share-based compensation | $17.9M | $19.5M | −$1.6M | -8% |
| Working capital & other | $47.8M | −$101M | $149M | — |
| Operating cash flow | $204M | $43.9M | $160M | +365% |
| Free cash flow (OCF − capex) | $182M | $14.9M | $167M | 12× |
| Capital expenditures | $22.1M | $29.0M | −$6.9M | -24% |
Questions
How much did BrightSpring Health Services's revenue grow quarter over quarter in Q3 2026?
BrightSpring Health Services's revenue rose $340M (+9%) from $3.9B in Q2 2026 to $4.2B in Q3 2026.
What drove BrightSpring Health Services's revenue change in Q3 2026?
Product +$294M (+9%); Medicaid +$45.6M (+10%).