Third Quarter 2025 Earnings Presentation October 28, 2025 1 Forward-Looking Statements; Non-GAAP Financial Information Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements include all statements that are not historical facts. These forward-l ...

Core Insights - Pennant Group reported strong Q2 2025 earnings with total revenue of $219.5 million, exceeding analyst expectations by $8.88 million and reflecting a 30.1% year-over-year increase [1][2] - Adjusted EPS for the quarter was $0.27, matching analyst estimates, while net income rose 24.6% to $7.1 million compared to Q2 2024 [2][8] - The company raised its full-year 2025 revenue guidance to a range of $852.8 million to $887.6 million, indicating management's confidence in continued growth [10] Financial Performance - Q2 2025 revenue of $219.5 million surpassed the estimate of $210.62 million, marking a 30.1% increase from $168.7 million in Q2 2024 [2] - Non-GAAP EPS increased by 12.5% year-over-year from $0.24 to $0.27 [2] - Home Health and Hospice revenue grew by 32.5% to $166.0 million, driven by a 26.1% increase in total home health admissions [5][6] Business Strategy - Pennant Group operates in home health, hospice, and senior living sectors, utilizing a decentralized model that empowers local leaders [3] - The company is focused on expansion through acquisitions and developing its leadership pipeline, aiming for organic growth alongside new operations [4] - Key success factors include quick integration of acquisitions, recruitment and retention of skilled leaders, and effective management of regulatory changes [4] Segment Analysis - Home Health and Hospice Services segment revenue increased by 32.5%, with a notable rise in average Medicare revenue per episode by 5.9% [5] - Senior Living Services revenue rose 23.1% to $53.5 million, although average occupancy remained flat at 78.8% [7] - Same-store senior living revenue grew by 9.0%, indicating potential for further expansion through improved occupancy [7] Profitability Metrics - Adjusted EBITDAR for Home Health and Hospice increased by 30.5%, reflecting improved segment profitability [6] - Overall net income rose by 24.5%, while adjusted EBITDA also showed growth [8] - General and administrative costs increased by 48.1% compared to Q2 2024, indicating rising operational expenses [8] Future Outlook - The company expects adjusted EPS for full-year 2025 to be in the range of $1.09 to $1.15, up from previous guidance [10] - Investors should monitor the balance between rate-driven and occupancy-driven growth in Senior Living, as well as the integration of acquisitions [11] - The upcoming UnitedHealth Group and Amedisys transaction is anticipated to contribute to future growth, although initial costs may temper short-term expectations [11]

Financial Performance Highlights - Total revenue for the second quarter of 2025 was $3148 million, representing a 291% year-over-year growth[17] - Adjusted EBITDA for the second quarter of 2025 was $143 million, a 288% increase compared to the previous year[17] - Pharmacy Solutions revenue reached $2790 million, showing a 320% year-over-year increase[17] - Provider Services revenue was $358 million, reflecting a 105% year-over-year growth[17] Pharmacy Solutions Segment - Pharmacy Solutions segment EBITDA was $125 million, a 320% increase year-over-year[17] - Infusion and Specialty Pharmacy revenue was $2203 million, up 389% year-over-year[17] - Home and Community Pharmacy revenue was $587 million, an 110% increase year-over-year[17] - Prescriptions dispensed reached 10852 thousand, a 72% increase year-over-year, with revenue per script at $25711 and gross profit per script at $2154[24] Provider Services Segment - Provider Services segment EBITDA was $56 million, an 114% increase year-over-year[17] - Home Health Care revenue was $185 million, a 171% increase year-over-year, with an average daily census of 30085, a 64% increase year-over-year[17, 28]

Core Insights - BrightSpring Health Services, Inc. (BTSG) is experiencing significant growth in its Home Health Care segment, driven by the expanding global home healthcare market, which is projected to grow at a CAGR of 10.21% from 2025 to 2030 [1] Company Performance - The Home Health Care segment generated $178 million in sales in Q1 2025, reflecting a 21% year-over-year increase, supported by strong operational execution and expanding Medicare Advantage contracts [2][8] - The average daily census across home health and hospice increased to over 30,000, a 12% rise from the previous year, indicating robust demand for services [3] - Approximately 90% patient satisfaction was reported, with over 80% of branches rated 4 stars or higher, and a declining 60-day hospitalization rate [2][3] Strategic Initiatives - BrightSpring is advancing its Homebase Primary Care model to provide physician-led services in cost-effective, in-home settings, and is targeting scalable growth to over 100,000 patients through value-based models like ACOs and SNPs [3] Competitive Landscape - Cardinal Health's at-Home Solutions is expanding its reach in the home healthcare market, serving over 5 million patients in fiscal 2024 and investing in automated distribution centers to enhance capabilities [4] - Addus HomeCare Corporation's home healthcare segment is experiencing modest growth, focusing on selective M&A and leveraging technology for operational synergies [5] Market Valuation - BTSG shares have increased by 98.8% over the past year, significantly outperforming the industry, which saw an 18.9% decline, while the S&P 500 composite grew by 11.8% [6] - The company trades at a forward price-to-earnings ratio of 20.32, above the industry average of 14.25 [9] Earnings Estimates - The Zacks Consensus Estimate for BTSG's earnings has been rising over the past 60 days, with current estimates for Q2 2025 at $0.22 and for the current year at $1.02 [10][11]

Financial Performance - BrightSpring's total revenue for Q1 2025 reached $2878 million, a 25.9% increase year-over-year[18] - Adjusted EBITDA for Q1 2025 was $131.1 million, representing a 28.2% growth compared to the previous year[18] - Pharmacy Solutions revenue grew by 28.1% to $2532 million in Q1 2025[18] - Provider Services revenue increased by 12.1% to $346 million in Q1 2025[18] Segment Performance - Within Pharmacy Solutions, Infusion and Specialty revenue saw a 33.2% increase, reaching $1952 million[18] - Home and Community Pharmacy revenue grew by 13.6% to $581 million[18] - Pharmacy Segment EBITDA increased by 31.2% to $116 million[18] - Home Health Care revenue within Provider Services grew by 20.9% to $178 million[18] Business Metrics - Home Health Care average daily census increased by 11.6% year-over-year, reaching 30,241 in Q1 2025[29] - Prescriptions dispensed in Pharmacy Solutions increased by 10.4% year-over-year[25] - Revenue per script in Pharmacy Solutions grew by 16.0% year-over-year to $232.79[25] Guidance - The company updated its FY 2025 total revenue guidance to a range of $12000 million to $12500 million, representing a 19.1% to 24.1% year-over-year growth[37]

Forward-Looking Statements; Non-GAAP Financial Information Fourth Quarter 2024 Earnings Presentation March 6, 2025 1 Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements include all statements that are not historical facts. These forward-loo ...

Table of Contents As filed with the Securities and Exchange Commission on January 25, 2024 Registration No. 333-276348 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 3 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 BrightSpring Health Services, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 8082 82-2956404 (I ...