BrightSpring Health Services (NASDAQ:BTSG) posted a decisive fourth-quarter beat on Friday, capping a year of aggressive expansion with a return to full-year profitability.
The Louisville, Kentucky-based company reported fiscal 2025 net revenue of $12.91 billion, a 28.2% increase over the previous year, surpassing analyst expectations of $12.75 billion.
The company recorded full-year net income of $104.8 million, or $0.59 per diluted share, representing a dramatic recovery from the $68.9 million net loss reported in 2024.
This bottom-line surge was fueled primarily by the Pharmacy Solutions segment, where revenue jumped 31% to $11.45 billion for the year, driven by a ramp-up in specialty oncology scripts and new limited distribution drug (LDD) launches.
The company’s balance sheet also saw significant improvement, with leverage falling to 2.99x as of December 31, compared to 4.16x a year earlier.
Operating cash flow for the year reached $490 million, up from just $24 million in 2024.
Looking ahead, management initiated optimistic 2026 guidance, forecasting total revenue between $14.45 billion and $15 billion and adjusted EBITDA of $760 million to $790 million.