GMR Solutions Q2: Net Loss of $28.3M, Reaffirms FY26 Guidance
GMRS sits 29% above its 52-week low of $10.255 on elevated volume (3.2× avg).
Summary
GMR Solutions reported Q2 2026 net revenue of $1,490.3M, up 3.3% year-over-year, but swung to a net loss of $28.3M due to unfavorable revenue estimate changes and IPO-related costs. Management reaffirmed full-year 2026 guidance.
Key Events · Earnings and Guidance · GMRS
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Q2 Net Loss of $28.3M
Net loss of $28.3M versus net income of $80.8M in Q2 2025, driven by a $74.3M unfavorable change in revenue estimates related to prior-year No Surprises Act collections.
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Revenue Up 3.3% to $1,490.3M
Net revenue increased 3.3% year-over-year to $1,490.3M, with total ambulance transports up 1.5% to 1,048,334.
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Adjusted EBITDA Down 11.8%
Adjusted EBITDA of $284.5M, down from $322.6M in Q2 2025, reflecting higher stock-based compensation and IPO-related costs.
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FY26 Guidance Reaffirmed
Full-year 2026 guidance reaffirmed: net revenue of $5,890M-$6,180M and Adjusted EBITDA of $1,135M-$1,195M.
Analysis · GMRS · Energy & Transportation
GMR Solutions reported Q2 2026 net revenue of $1,490.3M, up 3.3% year-over-year, but swung to a net loss of $28.3M versus net income of $80.8M a year ago. The loss was driven by a $74.3M unfavorable change in revenue estimates related to prior-year No Surprises Act collections, plus higher stock-based compensation and IPO-related costs. Adjusted EBITDA fell 11.8% to $284.5M. Management reaffirmed full-year guidance of $5,890M-$6,180M in net revenue and $1,135M-$1,195M in Adjusted EBITDA, signaling confidence in underlying operations. The company maintains strong liquidity of over $1.1B, including $420M cash and $696.3M available on its ABL facility.
At the time of this filing, GMRS was trading at $13.21 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $694.6M. The 52-week trading range was $10.26 to $15.98. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.