Option Care Health, Inc. reported a net revenue of $1.35 billion for the first quarter of 2026, reflecting a 1.3% increase from $1.33 billion in the same period of 2025. The company's gross profit for the quarter was $262 million, slightly down from $263 million year-over-year, resulting in a gross profit margin of 19.4%, compared to 19.7% in the prior year. Operating income decreased to $72.5 million from $79.2 million, while net income fell to $45.3 million, down from $46.7 million in the previous year. The effective tax rate for the quarter was 25.7%, a decrease from 26.5% in the prior year.
The company experienced notable changes in its operational metrics, with a slight decline in gross profit attributed to challenges in its chronic inflammatory disease (CID) portfolio, which management expects to negatively impact gross profit by approximately $55 million in 2026. Selling, general, and administrative expenses rose by 3.8% to $174.6 million, driven by investments in internal resources and technology aimed at supporting future growth. The total operating expenses increased to $189.5 million from $183.9 million, reflecting a 3% rise.
In terms of strategic developments, Option Care Health did not report any new acquisitions in the first quarter of 2026, following the acquisition of Intramed Plus, Inc. in January 2025. The company continues to operate a national network of 87 full-service pharmacies and 111 stand-alone ambulatory infusion suites, which positions it well within the infusion therapy market. The company’s stock repurchase program remains active, with $17.5 million spent on repurchasing shares in the first quarter, compared to $100 million in the same period last year.
Operationally, the company reported a decrease in cash and cash equivalents to $177.3 million from $232.6 million at the end of 2025. Cash used in operating activities increased to $12.1 million, primarily due to changes in accounts payable and accrued compensation. The company’s cash flows from investing activities significantly decreased, primarily due to the absence of large acquisitions in the current quarter. The company’s liquidity position remains strong, with $846 million available under its credit facilities following a recent amendment that increased the Revolver Facility by $450 million.
Looking ahead, Option Care Health anticipates continued growth in its acute therapy portfolio, although it remains cautious about the challenges posed by the CID portfolio. The company is focused on enhancing its operational efficiencies and maintaining strong relationships with referral sources and payers to drive future revenue growth. The management's outlook suggests a commitment to strategic investments and potential acquisitions to bolster its market position in the infusion therapy sector.
About Option Care Health, Inc.
Option Care Health, Inc. is a leading provider of home and alternate site infusion services, offering clinical management, nursing support, and care coordination for patients with complex and chronic conditions. Operating through a network of pharmacies and infusion suites across the U.S., it serves healthcare providers, payers, and pharmaceutical manufacturers by delivering cost-effective, patient-centered therapies in non-hospital settings.
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