AGL earnings analysis
What we found in AGL's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Agilon Health reported Q1 2026 results with total revenues of $1.42 billion, a 7% decrease from Q1 2025, and a notable EPS of $2.94, significantly surpassing expectations of $0.95. Despite the revenue decline, the company showed strong operational improvements with net income rising to $49 million compared to $12 million a year ago, aided by a decrease in general and administrative expenses and improved medical margins.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Exceeds Estimates Significantly
- Reported EPS for Q1 2026 was $2.94, far above the estimated $0.95.
- Revenue Performance
- Total revenue was $1.42 billion, exceeding expectations of $1.38 billion despite a 7% decline from the prior year.
- Strong Increase in Net Income
- Net income grew to $49 million from $12 million in Q1 2025, a 304% increase.
- Gross Profit Improvement
- Gross profit increased to $65 million from $51 million, a 28% rise year-over-year.
- Positive Adjusted EBITDA Growth
- Adjusted EBITDA jumped to $54 million, compared to $21 million in Q1 2025, marking a 162% increase.
- Successful Cost Management
- General and administrative expenses reduced by 18% to $54 million from $66 million in the same quarter last year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Membership Decline
- MA members decreased by 13% year-over-year, affecting revenue streams.
- Compliance and Listing Risks
- The company must meet continued NYSE listing standards, particularly after recent reverse stock splits.
- Potential Financial Strain
- Ongoing operating losses and negative cash flows could pressure future financing needs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.94
- Gross margin
- 4.6%
- Operating margin
- 0.3%
What they said about what is next.
Guidance reflects an optimistic outlook for revenue and ACO contributions, updated from previous guidance.
The filing reads better than the one before it.
What came before.
- 10-K · February 25, 2026
- agilon describes a Medicare-focused, physician-partnered Total Care Model built around a subscription-like PMPM capitation platform, long-term (typically 20-year) anchor physician partnerships, and a growing network (28…
- 10-Q · November 4, 2025
- agilon health reported Q3 2025 revenue of $1,435,321,000 and a GAAP net loss of $110,207,000 (loss per share $0.27). Revenue was roughly flat year-over-year (down $15.6M vs Q3 2024) while operating loss stayed near…
- 10-Q · May 6, 2025
- For Q1 2025, Agilon Health reported revenues of $1.53 billion, a slight decline of 4.5% compared to $1.6 billion in Q1 2024. The gross margin improved to 3.3%, although operating losses were noted with an EPS of $0.0,…
- 10-Q · May 7, 2024
- agilon reported Q1 total revenues of $1,604,354 (in thousands) versus $1,054,312 (in thousands) a year earlier, driven by higher medical services revenue. Gross margin was 4.7% while operating loss widened to $(7,178)…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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