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…
Earnings analysis · 10-Q
AGL earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.94
What stood out
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EPS Exceeds Estimates Significantly
Reported EPS for Q1 2026 was $2.94, far above the estimated $0.95.
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Revenue Performance
Total revenue was $1.42 billion, exceeding expectations of $1.38 billion despite a 7% decline from the prior year.
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Strong Increase in Net Income
Net income grew to $49 million from $12 million in Q1 2025, a 304% increase.
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Gross Profit Improvement
Gross profit increased to $65 million from $51 million, a 28% rise year-over-year.
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Positive Adjusted EBITDA Growth
Adjusted EBITDA jumped to $54 million, compared to $21 million in Q1 2025, marking a 162% increase.
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Successful Cost Management
General and administrative expenses reduced by 18% to $54 million from $66 million in the same quarter last year.
What to watch
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Membership Decline
MA members decreased by 13% year-over-year, affecting revenue streams.
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Compliance and Listing Risks
The company must meet continued NYSE listing standards, particularly after recent reverse stock splits.
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Potential Financial Strain
Ongoing operating losses and negative cash flows could pressure future financing needs.
Management's outlook
Guidance reflects an optimistic outlook for revenue and ACO contributions, updated from previous guidance.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.