Core Insights - Option Care Health, Inc. announced preliminary unaudited financial results for Q4 and full year 2025, along with preliminary financial guidance for 2026 [1] Financial Results - Q4 2025 expected net revenue is projected between $1.46 billion and $1.47 billion, with GAAP net income between $59.1 million and $62.4 million, and adjusted diluted EPS between $0.46 and $0.49 [9] - Full year 2025 expected net revenue is projected between $5.645 billion and $5.655 billion, with GAAP net income between $208.2 million and $211.5 million, and adjusted diluted EPS between $1.72 and $1.76 [9] Financial Guidance - The company expects to provide further details regarding its full year 2026 financial guidance during the Q4 earnings call in February [3] Share Repurchase Program - The Board of Directors approved an increase in the share repurchase program authorization from $500 million to $1.0 billion, with no specified expiration date [4] - Approximately $95 million of shares were repurchased in Q4 2025, totaling approximately $307 million for the full year 2025 [5] Investor Engagement - Option Care Health will participate in the 44th Annual J.P. Morgan Healthcare Conference, with a presentation scheduled for January 13, 2026 [6]

Financial Projections - Net revenue for Q4 2025 is expected to be between $1.46 billion and $1.47 billion, with full year 2025 net revenue projected between $5.645 billion and $5.655 billion[3]. - GAAP net income for Q4 2025 is anticipated to be between $59.1 million and $62.4 million, while full year 2025 GAAP net income is expected to range from $208.2 million to $211.5 million[3]. - Adjusted diluted EPS for Q4 2025 is projected to be between $0.46 and $0.49, and for full year 2025, it is expected to be between $1.72 and $1.76[3]. - Adjusted EBITDA for Q4 2025 is expected to be between $123.7 million and $127.7 million, while for full year 2025, it is projected to be between $469.0 million and $473.0 million[3]. - Cash flow from operations is expected to be below $320 million for full year 2025[3]. - Preliminary financial guidance for full year 2026 includes net revenue expected to be between $5.8 billion and $6.0 billion, with adjusted diluted EPS projected between $1.82 and $1.92[3]. Share Repurchase Program - The company has expanded its share repurchase program authorization from $500 million to $1.0 billion, with approximately $95 million repurchased in Q4 2025 and $307 million for the full year 2025[4][5]. Future Events - The company will provide further details on its full year 2026 financial guidance during the fourth quarter earnings call in February[2]. - The company is participating in the 44th Annual J.P. Morgan Healthcare Conference on January 13, 2026, to present its financial outlook[6]. Financial Data Disclaimer - The preliminary financial data is subject to completion of year-end close procedures and may change before finalization[12].

Core Insights - Option Care Health is the largest independent provider of home and alternate site infusion services in the United States [2] Group 1: Company Participation - Option Care Health will participate in the 44th Annual J.P. Morgan Healthcare Conference on January 13, 2026, with a presentation scheduled for 10:30am PT [1] Group 2: Company Overview - The company employs over 8,000 team members, including more than 5,000 clinicians, and operates across all 50 states [2] - Option Care Health aims to elevate standards of care for patients with acute and chronic conditions through its clinical leadership and expertise [2] - The company is focused on reimagining the infusion care experience for patients, customers, and team members [2]

Group 1 - Top Wall Street analysts have revised their outlook on several prominent companies, indicating a shift in market sentiment [1] - The article suggests that investors should consider the stock of OPCH, highlighting the opinions of analysts regarding its potential [1]

Core Insights - The session is part of the Fifth Annual Home Care Conference, focusing on Option Care, a leading home infusion provider in the U.S. [2] Company Overview - Option Care is recognized as one of the largest home infusion providers in the United States [2]. Event Details - The session features Meenal Sethna, the CFO of Option Care, along with Stephen Shulstein and Nicole Maggio [2]. - The format includes a Q&A session, allowing audience participation through questions submitted via the screen [3].

Summary of Option Care Health Conference Call Company Overview - **Company**: Option Care Health (NasdaqGS: OPCH) - **Industry**: Home Infusion Services - **Market Position**: Largest standalone independent home infusion services provider in the U.S. with over $5.5 billion in revenue and coverage across 170 sites, reaching approximately 96% of the U.S. population [3][4][5] Key Points and Arguments Growth Outlook - **Long-term Growth**: The company anticipates growth driven by the healthcare industry's shift towards home care, with a focus on providing high-quality care at appropriate costs [3][4][5] - **Revenue Growth**: Projected revenue growth in the high single digits, with EBITDA growth in the low double digits, and earnings per share expected to grow slightly faster than EBITDA [9][10] - **Market Dynamics**: The acute side of the business is growing in low single digits, while the chronic side is growing in low double digits, contributing to the overall revenue growth [10][11] Competitive Landscape - **Market Share Gains**: The company has gained market share due to competitors exiting the market and its ability to provide same-day services for acute therapies [10][11] - **Drug Pipeline**: Excitement around new drugs in the FDA pipeline and existing therapies is expected to drive growth in chronic disease management [15][17] Financial Performance - **Headwinds**: The company anticipates a $70 million headwind to EBITDA due to pricing dynamics related to Stelara and the introduction of biosimilars [36][37] - **Cost Structure**: The company benefits from a lower overhead structure compared to traditional medical settings, which supports its growth strategy [6][63] Regulatory and Market Changes - **Biosimilars Impact**: The introduction of biosimilars is expected to affect revenue and profitability, with a gradual transition in pricing dynamics as generics enter the market [22][24] - **Stelara Dynamics**: The relationship with Janssen regarding Stelara has changed due to government reimbursement dynamics, impacting profitability [26][30] Future Considerations - **Patient Cohort Management**: The company is focused on managing patient cohorts effectively, especially as new therapies and biosimilars are introduced [31][43] - **Payer Relationships**: Strong partnerships with payers are crucial for navigating the evolving healthcare landscape, particularly as payers seek to reduce costs [62][63] Additional Important Insights - **Subcutaneous Therapies**: The shift towards subcutaneous formulations does not eliminate the company's role in patient care, as many patients still require oversight for administration [49][52] - **Site-of-Care Management**: The company is seeing increased interest from payers in site-of-care management initiatives, which align with its business model of providing lower-cost care [62][63] - **PBM Reforms**: Potential PBM reforms are not expected to significantly impact the company's business model, as it does not participate in rebate structures tied to PBMs [64][65] This summary encapsulates the key insights from the Option Care Health conference call, highlighting the company's strategic outlook, competitive positioning, and financial dynamics within the home infusion services industry.

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Core Insights - Option Care Health is the leading home and alternate site infusion provider in the United States, operating over 90 full-service pharmacies and covering 96% of the population [3]. Group 1: Business Overview - The company infuses patients both in their homes and in over 700 alternate site suites, providing a full network of therapies for both acute and chronic conditions [3]. - Despite disruptions in 2024 due to events like hurricanes and supply chain shortages, the company has made significant progress and is optimistic about its performance [2]. Group 2: Market Position - Option Care Health's mission is to serve healthcare needs effectively, positioning itself as a critical player in the infusion services market [3].

Summary of Option Care Health Conference Call Company Overview - **Company**: Option Care Health (NasdaqGS: OPCH) - **Industry**: Home and alternate site infusion services in the United States - **Market Position**: Leading provider with over 90 full-service pharmacies and coverage across 96% of the U.S. population [2][3] Financial Performance - **Q3 Performance**: - 12% top-line growth - Adjusted EBITDA growth of 3.4% - Adjusted diluted EPS growth of 9.8% [3] - **Guidance Updates**: - Raised adjusted EBITDA guidance by $15 million - Increased adjusted EPS projection by $0.06 [4] - **Cash Flow**: Expected to generate over $320 million from operations with a 26% CAGR in cash flow from operations [4][10] Market Dynamics - **Market Size**: Home infusion market represents approximately 25-30% of a broader $100 billion infusion market [5][6] - **Therapy Portfolio**: - 25% acute therapies (lower growth) - 75% chronic therapies (faster growing segment) [6][7] - **Government Exposure**: Low direct government exposure at about 12% [6] Competitive Landscape - **Market Share**: Option Care Health holds about 25-30% of the home infusion market, potentially higher in acute therapies [16][17] - **Competitors**: Competes with private equity-owned, hospital-owned infusion services, and alternative clinic models [17][18] - **Payer Relationships**: Strong relationships with all top 10 payers, providing access to a broad patient base [19][22] Strategic Initiatives - **M&A Activity**: Actively looking for tuck-in acquisitions and adjacencies, focusing on home infusion providers and clinical competencies [26][28] - **Capital Deployment**: $1.2 billion deployed since 2021, with a disciplined approach to capital allocation [10][11] - **Advanced Practitioner Model**: Leveraging existing infusion suites to expand services with minimal capital improvements [52][55] Challenges and Risks - **Biosimilar Impact**: Anticipated headwinds from biosimilars affecting revenue, particularly for the drug Stelara, with a projected $60 million-$70 million impact [34][35] - **Supply Chain Issues**: Disruptions in 2024 due to supply chain shortages and competitor exits [2][12] Future Outlook - **Growth Expectations**: Anticipated continued growth at slightly above market rates, with mid-single digits expected for acute therapies [13][14] - **Infusion Suite Utilization**: Increased from 16% in 2021 to 34% in 2024, with expectations for further growth [46][47] Conclusion - Option Care Health is well-positioned in the home infusion market with strong financial performance, strategic growth initiatives, and a focus on maintaining competitive advantages through payer relationships and operational efficiencies. The company is navigating challenges related to market dynamics and biosimilar competition while continuing to explore growth opportunities through M&A and service expansion.

BANK OF AMERICA LEVERAGED FINANCE CONFERENCE DECEMBER 2025 © 2025 OPTION CARE HEALTH, INC. ALL RIGHTS RESERVED Disclaimers Forward-Looking Statements This presentation may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," "may," "should," "will" and similar references to fut ...