Astrana Health Reports Strong Q1 2026 Results with 56% Revenue Growth and Reaffirms Full-Year Guidance
ASTH sits 94% above its 52-week low of $18.08.
Summary
Astrana Health reported strong Q1 2026 financial results, with revenue up 56% and adjusted EBITDA up 82% year-over-year, while reaffirming its full-year 2026 guidance.
Key Events · Earnings and Guidance · ASTH
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Strong First Quarter 2026 Financial Results
Astrana Health reported total revenue of $965.1 million, up 56% year-over-year, and adjusted EBITDA of $66.3 million, an 82% increase. Net income attributable to Astrana rose 116% to $14.4 million, with diluted EPS at $0.29, up 107%.
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Reaffirmed Full-Year 2026 Guidance
The company reiterated its full-year 2026 guidance, expecting total revenue between $3.8 billion and $4.1 billion, and adjusted EBITDA between $250 million and $280 million. New Q2 2026 guidance projects revenue of $965 million to $1.0 billion and adjusted EBITDA of $65 million to $70 million.
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Operational Progress in Full-Risk Contracts and Deleveraging
Astrana Health achieved 80% of its Q1 2026 Care Partners capitation revenue from full-risk arrangements and expanded Medicare Advantage membership in Texas to over 14,000. Net leverage declined to approximately 2.3x on a pro forma trailing twelve-month basis.
Analysis · ASTH · Trade & Services
Astrana Health delivered robust financial performance in the first quarter of 2026, with total revenue surging 56% year-over-year to $965.1 million and adjusted EBITDA increasing 82% to $66.3 million. Net income attributable to Astrana more than doubled, rising 116% to $14.4 million, and diluted EPS grew 107% to $0.29. These strong results are complemented by significant operational progress, including 80% of Q1 Care Partners capitation revenue now derived from full-risk arrangements and continued deleveraging, with net leverage declining to approximately 2.3x. The company also reiterated its full-year 2026 guidance for total revenue ($3.8B - $4.1B) and adjusted EBITDA ($250M - $280M), providing stability and confidence, particularly in light of the previously disclosed material weakness in internal controls. This positive earnings report, coupled with strategic operational advancements, suggests a strong trajectory for the company.
At the time of this filing, ASTH was trading at $35.00 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $1.8B. The 52-week trading range was $18.08 to $36.20. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.