Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when ACH files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsAccendra Health posts Q2 loss, cuts debt $385M, announces CEO retirement by year-end
Filed August 10, 2026 · Period ending August 10, 2026 · ~1 min read
Key Changes
-
high
Q2 2026 revenue fell to $613M from $682M prior year; GAAP loss $89M, adjusted EBITDA $60M (down from $97M), free cash flow negative $25M. Declines driven by commercial payor exit, collection rate pressures, and cost headwinds.
Exhibit 99.1 view on EDGAR → -
high
Completed balance sheet optimization in June, reducing total debt $370M (from $2,123M to $1,753M) and extending weighted average debt maturity from 2.7 to 5.5 years. Repurchased unsecured notes at discount, capturing $115M in value.
Exhibit 99.2 view on EDGAR → -
high
CEO Ed Pesicka intends to retire by end of 2026 and step down from the Board. Board has succession planning process in place and will select successor in coming months.
Exhibit 99.1 view on EDGAR → -
high
Updated full-year 2026 guidance: revenue $2.45B–$2.55B, adjusted EBITDA $300M–$320M, free cash flow breakeven to slightly positive. Eliminated over $125M in annualized operating expenses tied to exited commercial payor.
Exhibit 99.2 view on EDGAR →
Summary
Accendra Health reported a challenging second quarter, with revenue declining 10% year-over-year to $613 million and adjusted EBITDA falling 38% to $60 million. The company posted a GAAP loss of $89 million and negative free cash flow of $25 million, reflecting the impact of exiting a large commercial payor relationship, collection rate pressures, and manufacturer cost increases.
Management has eliminated over $125 million in annualized operating expenses associated with the payor exit and is positioning the business for future growth. The company completed a significant balance sheet restructuring in June, reducing total debt by $385 million and extending its weighted average debt maturity from 2.7 to 5.5 years.
By repurchasing unsecured notes at a discount, Accendra captured $115 million in value and established a new $300 million revolving credit facility. This deleveraging strengthens the company's financial position as it navigates the transition following its Products & Healthcare Services divestiture. CEO Ed Pesicka announced his intention to retire by year-end after leading the company through its separation from Owens & Minor and the commercial payor exit. The Board will select his successor in the coming months. Management updated full-year 2026 guidance to revenue of $2.45–$2.55 billion and adjusted EBITDA of $300–$320 million, with free cash flow expected to reach breakeven to slightly positive as cost reductions take hold.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Accendra Health issued Q2 2026 earnings results via press release; full financial details in Exhibit 99.1.
Added in current filing · verify on EDGAR →
On August 10, 2026, Accendra Health, Inc. (the “Company”) issued a press release regarding its financial results for the second quarter and six months ended June 30, 2026.
The company disclosed its financial results for Q2 2026 and the first half of 2026 via press release. The 8-K body does not contain the actual financial figures; those are in the attached Exhibit 99.1, which was not provided in this filing excerpt.
Event · Item 7.01 — Regulation FD Disclosure
Company posted an earnings presentation on its investor relations website under Regulation FD.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On August 10, 2026, the Company posted an earnings presentation on the Investor Relations section of its website.
The company disclosed that it posted an earnings presentation on its investor relations website on August 10, 2026. The presentation is furnished as Exhibit 99.2 under Regulation FD disclosure rules and is not deemed filed for Section 18 liability purposes.
Event · Exhibit 99.1
Accendra Health reported Q2 2026 results, reduced debt by $385M, and announced CEO Ed Pesicka's planned retirement by year-end.
Added in current filing · view on EDGAR →
Net Revenue $ 613.2 ... Loss from continuing operations, net of tax, GAAP $ (89.1) ... Adj. (loss) income from continuing operations, net of tax, Non-GAAP $ (14.3) ... Adj. EBITDA, Non-GAAP $ 60.1 ... Free cash flow, Non-GAAP $ (25.1)
Accendra Health reported Q2 2026 net revenue of $613.2 million, down from $681.9 million in Q2 2025. The company posted a GAAP loss from continuing operations of $89.1 million and an adjusted non-GAAP loss of $14.3 million, compared to adjusted income of $20.5 million in the prior year. Adjusted EBITDA was $60.1 million versus $96.6 million in Q2 2025, and free cash flow was negative $25.1 million versus positive $15.2 million in the prior year.
Added in current filing · view on EDGAR →
we reduced outstanding debt by $385 million and comprehensively reset our debt maturity profile through our balance sheet optimization transaction which closed in June
The company completed a balance sheet optimization transaction in June 2026 that reduced total debt by $385 million and reset the debt maturity profile. This represents a significant deleveraging effort during the quarter.
Added in current filing · view on EDGAR →
In the last six months, we have eliminated well over $125 million of annualized operating expense directly associated with this large commercial payor
The company completed the exit from a large commercial payor relationship during the quarter and has eliminated over $125 million in annualized operating expenses associated with that payor over the past six months. Management indicated they are now resetting the business for accelerated future growth.
Event · Exhibit 99.2
Accendra Health reports Q2 2026 results, balance sheet optimization, and updates full-year guidance following Products & Healthcare Services divestiture.
Added in current filing · view on EDGAR → · paraphrased
3/31/2026 6/30/2026 ... Total Funded Debt 2,123$ 1,753$ ... Loss on modification and extinguishment of debt of $17 million includes $16 million of debt modification third party fees and $0.8 million in recognition of previously deferred debt issuance costs from the completion of the Balance Sheet Optimization Transaction.
Accendra Health completed a balance sheet optimization transaction during Q2 2026, reducing total funded debt from $17M at March 31, 2026 to $1,753 million at June 30, 2026. The company repurchased its Unsecured Notes Due 2029 and 2030 at a discount, capturing $115 million in value, and established a new $300 million revolving credit facility. The transaction extended the weighted average life of debt from approximately 2.7 years to 5.5 years. The company incurred $17 million in debt modification and extinguishment costs, including $16 million in third-party fees.
Added in current filing · view on EDGAR →
$2.45 - $2.55 billion Revenue $300 - $320 million Adjusted EBITDA (2) $142 - $146 million Interest Expense (3) ~78 million Diluted Weighted Average Shares Outstanding (4) Breakeven to slightly positive Free Cash Flow
Accendra Health updated its full-year 2026 outlook, projecting revenue of $2.45 to $2.55 billion, adjusted EBITDA of $300 to $320 million, interest expense of $142 to $146 million, approximately 78 million diluted weighted average shares outstanding, and breakeven to slightly positive free cash flow. The guidance reflects the company's continuing operations following the divestiture of the Products & Healthcare Services business.
Added in current filing · view on EDGAR →
Loss from continuing operations, net of tax, as reported (GAAP) $ (96) ... Adjusted EBITDA (non-GAAP) 118 ... Free cash flow (non-GAAP) $ (27)
For the six months ended June 30, 2026, Accendra Health reported a GAAP loss from continuing operations of $96 million, adjusted EBITDA of $118 million, and negative free cash flow of $27 million. This compares to a loss of $88 million, adjusted EBITDA of $193 million, and positive free cash flow of $51 million for the same period in 2025. The year-over-year decline reflects the same operational headwinds affecting the quarterly results.
Added in current filing · view on EDGAR →
Payments for settled portion of historical P&HS-driven IRS matter - (19) Payments for legal, advisory, and other fees and expenses related to the closing of the divestiture of P&HS (4) (26) Cash proceeds from sale of patient service equipment and other assets stemming from the exit of a large commercial payor 3 85 Purchaser separation costs paid in connection with the divestiture of P&HS (15) (15) Financing costs related to the Balance Sheet Optimization Transaction (17) (17)
During the first half of 2026, Accendra Health had several notable one-time cash flow items excluded from its free cash flow calculation: $19 million payment for a historical IRS matter related to the divested Products & Healthcare Services business, $26 million in divestiture-related legal and advisory fees, $85 million in proceeds from equipment sales related to exiting a large commercial payor, $15 million in purchaser separation costs for the P&HS divestiture, and $17 million in financing costs for the balance sheet optimization transaction.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Aug 11, 2026 · How we verify