Agilon Health, Inc. reported its financial results for the second quarter and first half of 2026, revealing a total revenue of $1.5 billion for the quarter, a 7% increase from $1.4 billion in the same period last year. For the first half of 2026, total revenue remained relatively flat at $2.9 billion compared to $2.9 billion in the first half of 2025. The company achieved a net income of $18 million for the second quarter, a significant turnaround from a net loss of $104 million in the prior year. Year-to-date, net income reached $67 million, compared to a loss of $92 million in the first half of 2025. The gross profit for the second quarter was $107 million, compared to a gross loss of $52 million in the same quarter of 2025.
The company experienced a decline in Medicare Advantage (MA) membership, with approximately 437,500 members as of June 30, 2026, down 12% from the previous year. This decrease was attributed to strategic market exits and a disciplined approach to contracting focused on profitability. Despite the decline in membership, the average per-member, per-month (PMPM) capitation rates increased by 19% year-over-year, contributing to the revenue growth. Medical services revenue for the quarter was $1.49 billion, up from $1.39 billion in the same quarter of 2025, while medical services expenses decreased by 10% to $1.30 billion, reflecting the reduced membership and improved cost management.
Agilon Health's operational metrics showed a significant improvement in medical margin, which reached $197 million for the second quarter, compared to a negative margin of $53 million in the same period last year. The company also reported an Adjusted EBITDA of $70 million for the quarter, a substantial increase from an Adjusted EBITDA loss of $83 million in the second quarter of 2025. The company’s total assets increased to $1.59 billion as of June 30, 2026, up from $1.27 billion at the end of 2025, driven by higher receivables and cash reserves.
Strategically, Agilon Health executed a 1-for-25 reverse stock split on March 30, 2026, aimed at enhancing its stock price and market perception. The company also appointed Tim O’Rourke as the new Chief Executive Officer and President, effective May 7, 2026, as part of its leadership transition. Looking ahead, Agilon Health anticipates continued focus on profitability and operational efficiency, although it acknowledges the potential need for additional capital resources to support growth initiatives and manage cash flow requirements. The company remains committed to its Medicare-centric model, aiming to empower primary care physicians to improve healthcare delivery for seniors across the United States.
About agilon health, inc.
Agilon Health, Inc. transforms healthcare by partnering with community-based primary care physicians to deliver value-based, Medicare-centric care. Its platform supports long-term physician collaborations, risk-bearing entities, and integrated technology to improve quality and reduce costs. Serving seniors across the U.S., the company focuses on sustainable, risk-sharing models, enhancing patient outcomes, physician relationships, and healthcare efficiency through a scalable, community-focused business model.
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