Option Care Health, Inc. (OPCH) SEC Filings & Earnings Calls
EquiReason read 14 Option Care Health, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-10-06 — Option Care Health to be acquired by CD&R and McKesson for $32.05 per share, total enterprise value ~$5.8B, representing a 37% premium. CD&R will hold ~51% majority, McKesson ~49% .
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 4.7B
- P/E TTM
- 23.7
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 4 Nov, in 11 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
6 Oct 20268-K · 1.01, 7.01Option Care Health to be acquired by CD&R and McKesson for $32.05 per share, total enterprise value ~$5.8B, representing a 37% premium. CD&R will hold ~51% majority, McKesson ~49% minority. Transaction expected to close H1 2027; company wilbeing acquiredopen
Guidance
Option Care Health is withdrawing its previously disclosed financial guidance due to the transaction.
Guidance withdrawn due to pending acquisition; company to become private.
Risks flagged
Transaction subject to stockholder and regulatory approvals; risk of delay or failure.
“Subject to customary closing conditions, including approval by Option Care Health's stockholders and the receipt of required regulatory approvals.” · word for word
29 Jul 202610-QOption Care Health reported Q2 2026 revenue of $1.44B (+1.9% YoY) and net income of $53.9M (+6.7% YoY), with gross margin declining 50bps to 18.5%.earningsopen
Figures in the filing · each found in the filing text
| Net Revenue · Q2-2026 | $1.44B | +2% y/y |
| Gross Profit · Q2-2026 | $267M | -1% y/y |
| Net Income · Q2-2026 | $54M | +7% y/y |
| Operating Cash Flow · H1-2026 | $171M | +106% y/y |
| Cash and Equivalents · 2026-06-30 | $194M | -3% y/y |
Risks flagged
CID portfolio headwind
“Management continues to expect CID-related dynamics to negatively impact gross profit by approximately $55 million during 2026.” · word for word
29 Jul 20268-K · 2.02Net revenue $1.44B (+2% y/y); GAAP net income $54M (+7% y/y); GAAP diluted EPS $0.35 (+13% y/y); Guidance: Revenue $5.675-$5.775B; adjusted EPS $1.85-$1.92; adjusted EBITDA $480-$495Mearningsopen
Figures in the filing · each found in the filing text
| Net revenue · consolidated · Q2-2026 | $1.44B | +2% y/y |
| GAAP net income · consolidated · Q2-2026 | $54M | +7% y/y |
| GAAP diluted EPS · consolidated · Q2-2026 | $0.35 | +13% y/y |
| Adjusted EBITDA · consolidated · Q2-2026 | $118M | +3% y/y |
| Adjusted diluted EPS · consolidated · Q2-2026 | $0.45 | +10% y/y |
| Cash provided by operating activities · consolidated · Q2-2026 | $184M |
Guidance
Revenue $5.675-$5.775B; adjusted EPS $1.85-$1.92; adjusted EBITDA $480-$495M
Full-year guidance raised across revenue, EPS, and EBITDA; Q3 sequential growth expected.
Risks flagged
Dependence on managed care relationships and pharmaceutical industry changes.
“Loss of relationships with managed care organizations; changes in pharmaceutical industry limiting production of compatible drugs.” · word for word
12 May 20268-K · 7.01Issued a Regulation FD disclosure (forward guidance or material update); filed financial statements and exhibits with this reportopen
Risks flagged
No new risk signals; presentation is forward-looking and generic.
5 May 20268-K · 5.02Reported a director or officer change (departure, election, appointment or pay arrangement)open
Risks flagged
Loss of key executive could impact growth initiatives.
“departure of Chief Growth Officer”
30 Apr 202610-QNet Revenue $1.35B (+1% y/y); Gross Profit $262M (-0% y/y); Net Income $45M (-3% y/y); Guidance: CID gross profit impact ~$55M in 2026open
Figures in the filing · each found in the filing text
| Net Revenue · Q1-2026 | $1.35B | +1% y/y |
| Gross Profit · Q1-2026 | $262M | -0% y/y |
| Net Income · Q1-2026 | $45M | -3% y/y |
| Operating Cash Flow · Q1-2026 | $-12M | |
| Cash and Cash Equivalents · 2026-03-31 | $177M | |
| Number of Pharmacies · 2026-03-31 | 87 |
Guidance
CID gross profit impact ~$55M in 2026
Management lowered expectations for gross profit due to CID portfolio headwinds, expecting ~$55M negative impact in 2026.
Risks flagged
Chronic Inflammatory Disease Portfolio Headwind
“Management now expects the CID dynamics to negatively impact gross profit by approximately $55 million in 2026.” · word for word
8 Apr 2026DEF 14AProxy statement for 2026 Annual Meeting; no material event, but discloses strong 2025 financial results and executive compensation details.open
Figures in the filing · each found in the filing text
| Net Revenue · FY2025 | $5.65B | +13% y/y |
| Adjusted EBITDA · FY2025 | $471M | +6% y/y |
| Adjusted EPS · FY2025 | $1.72 | +9% y/y |
| Net Income · FY2025 | $208M | -2% y/y |
| Operating Cash Flow · FY2025 | $258M | |
| Net Debt Leverage Ratio · FY2025 | $2.00 | |
| GAAP Diluted EPS · FY2025 | $1.27 | +3% y/y |
Risks flagged
Generic risk factor language
“The filing contains standard risk factor language but does not tie specific risks to current operations, demand, margin, or guidance.”
2 Apr 20268-K · 1.01, 2.03Option Care Health entered a Fifth Amendment to its First Lien Credit Agreement, establishing new revolving credit commitments of $450M, increasing total revolver to $850M. No new net debt; upsizing of existing facility.open
Figures in the filing · each found in the filing text
| Revolving Credit Commitments · Q1-2026 | $850M |
Risks flagged
Increased debt capacity may signal future leverage or acquisition activity.
“Amendment establishes new revolving credit commitments in an aggregate principal amount equal to $450,000,000”
24 Feb 20268-K · 2.02Net revenue $1.47B (+9% y/y); Net revenue $5.65B (+13% y/y); Net income $58M (-3% y/y); Guidance: FY2026 revenue $5.8B-$6.0B (midpoint $5.9B, +4.4% vs FY2025); adjusted EPS $1.82-$1.92 (midpoint $1.87, +8.7% vs FY2025); adjusted EBITDA $480earningsopen
Figures in the filing · each found in the filing text
| Net revenue · Q4-2025 | $1.47B | +9% y/y |
| Net revenue · FY2025 | $5.65B | +13% y/y |
| Net income · Q4-2025 | $59M | -3% y/y |
| Net income · FY2025 | $208M | -2% y/y |
| Adjusted EBITDA · Q4-2025 | $126M | +4% y/y |
| Adjusted EBITDA · FY2025 | $471M | +6% y/y |
| Adjusted diluted earnings per share · Q4-2025 | $0.46 | +5% y/y |
| Adjusted diluted earnings per share · FY2025 | $1.72 | +9% y/y |
| Cash provided by operating activities · FY2025 | $258M | |
| Stock repurchases · FY2025 | $307M |
Guidance
FY2026 revenue $5.8B-$6.0B (midpoint $5.9B, +4.4% vs FY2025); adjusted EPS $1.82-$1.92 (midpoint $1.87, +8.7% vs FY2025); adjusted EBITDA $480M-$505M (midpoint $492.5M, +4.5% vs FY2025).
FY2026 guidance implies continued revenue growth and margin expansion, with adjusted EPS growth outpacing revenue.
Risks flagged
Net income declined slightly despite revenue growth, indicating potential margin pressure from cost inflation or mix shift.
“Net income of $58.5 million, down 2.7% (Q4); $207.6 million, down 2.0% (FY).” · word for word
24 Feb 202610-KNet Revenue $5.65B (+13% y/y); Gross Profit Margin 19.3; Net Income $208M (-2% y/y); Guidance: Gross profit headwind of $25-35M in 2026open
Figures in the filing · each found in the filing text
| Net Revenue · FY2025 | $5.65B | +13% y/y |
| Gross Profit Margin · FY2025 | 19.3% | |
| Net Income · FY2025 | $208M | -2% y/y |
| Operating Cash Flow · FY2025 | $258M | -20% y/y |
| Debt Outstanding · FY2025 | $1.18B | |
| Selling, General and Administrative Expenses · FY2025 | $682M | +8% y/y |
| SG&A as % of Revenue · FY2025 | 12.1% | |
| Cash and Cash Equivalents · FY2025 | $233M | -44% y/y |
Guidance
Gross profit headwind of $25-35M in 2026
Management guided for $25-35M gross profit headwind in 2026 from therapy mix and biosimilar adoption, indicating margin pressure.
Risks flagged
Gross margin pressure from therapy mix and biosimilars
“Management expects these dynamics to negatively impact gross profit by $25 million to $35 million in 2026.” · word for word
Reimbursement rate reductions
“Ongoing reimbursement rate reductions, pricing pressures from Third-Party Payers and managed care payers, and increasing payer consolidation could significantly impact revenue, reduce profitability.” · word for word
Leverage and debt service
“Our existing indebtedness could adversely affect our business and growth prospects.” · word for word
12 Jan 20268-K · 2.02, 7.01, 8.01Net revenue $5.65B; Adjusted EBITDA $471M; Cash flow from operations $320M; Guidance: FY2026 revenue guidance $5.8B-$6.0B vs FY2025 ~$5.65Bearningsopen
Figures in the filing · each found in the filing text
| Net revenue · FY2025 | $5.65B | |
| Adjusted EBITDA · FY2025 | $471M | |
| Cash flow from operations · FY2025 | $320M |
Guidance
FY2026 revenue guidance $5.8B-$6.0B vs FY2025 ~$5.65B
FY2026 guidance raised above FY2025 actuals, with revenue growth and margin expansion expected.
Risks flagged
Preliminary results subject to audit adjustment
“Preliminary unaudited financial results for Q4 and FY2025.”
30 Oct 202510-QOption Care Health reported Q3 2025 revenue of $1.435B (+12.2% YoY) but net income declined 3.8% YoY due to margin pressure from therapy mix and procurement spread reduction.earningsopen
Figures in the filing · each found in the filing text
| Net Revenue · Q3-2025 | $1.44B | +12% y/y |
| Gross Profit · Q3-2025 | $273M | +6% y/y |
| Net Income · Q3-2025 | $52M | -4% y/y |
| Operating Cash Flow · 9M-2025 | $223M | -23% y/y |
| Cash and Equivalents · 2025-09-30 | $310M |
Risks flagged
Procurement Spread Compression
“Gross profit was also impacted by the previously disclosed reduction in the procurement spread, which the Company expects to continue for the remainder of the year.” · word for word
Higher-Cost Therapy Mix Pressure
“The decrease in gross profit margin was primarily due to certain higher cost therapies included within chronic growth (including rare and orphan therapies).” · word for word
Debt Refinancing Costs
“The change in other, net period over period was primarily attributable to the $4.7 million loss on extinguishment of debt from the Company’s debt refinance during the three months ended September 30, 2025 with no comparable activity during the three months ended September 30, 2024.” · word for word
30 Oct 20258-K · 2.02Net revenue $1.44B (+12% y/y); Gross profit $273M (+6% y/y); Net income $52M (-4% y/y); Guidance: Net revenue $5.60-5.65B; adjusted EPS $1.68-1.72; adjusted EBITDA $468-473M; cash from ops at least $320Mearningsopen
Figures in the filing · each found in the filing text
| Net revenue · Q3-2025 | $1.44B | +12% y/y |
| Gross profit · Q3-2025 | $273M | +6% y/y |
| Net income · Q3-2025 | $52M | -4% y/y |
| GAAP diluted earnings per share · Q3-2025 | $0.32 | +3% y/y |
| Adjusted EBITDA · Q3-2025 | $120M | +3% y/y |
| Adjusted diluted earnings per share · Q3-2025 | $0.45 | +10% y/y |
| YTD cash provided by operating activities · YTD-2025 | $223M | |
| Stock repurchases · Q3-2025 | $63M |
Guidance
Net revenue $5.60-5.65B; adjusted EPS $1.68-1.72; adjusted EBITDA $468-473M; cash from ops at least $320M
Raised full-year 2025 guidance with revenue growth of 12.2% in Q3; balanced portfolio growth; active capital management.
Risks flagged
Dynamic regulatory environment and changing competitive landscapes could impact future performance.
“We are well positioned for success as we continue to navigate a dynamic regulatory environment, changing competitive landscapes, and our evolving portfolio of therapies.” · word for word
Net income declined 3.8% despite revenue growth, indicating margin pressure.
“Net income of $51.8 million, down 3.8%” · word for word
Option Care Health, Inc. — questions
- What did Option Care Health, Inc. file recently?
- 14 SEC filings in the last 12 months. Latest: 8-K on 2026-10-06 — Option Care Health to be acquired by CD&R and McKesson for $32.05 per share, total enterprise value ~$5.8B, representing a 37% premium. CD&R will hold ~51% majority, McKesson ~49% minority. Transaction expected to close H1 2027; company wil
Every figure on this page comes from Option Care Health, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.