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Get filing alertsStarling Oncology reports Q2 revenue up 35%, achieves first positive Adjusted EBITDA
Filed August 6, 2026 · Period ending August 6, 2026 · ~1 min read
Key Changes
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Q2 2026 revenue rose 34.6% to $161.3M; gross profit up 55.2% to $27.2M; Adjusted EBITDA turned positive at $229K vs. $(4.1)M loss in Q2 2025, marking the company's first profitable quarter on that metric.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Raised full-year 2026 revenue guidance to $650–$670M from $630–$650M; gross profit to $105–$110M from $97–$107M; narrowed Adjusted EBITDA to $2–$7M from $0–$9M, citing strong first-half results and new contract momentum.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Secured exclusivity with a major California partner across all delegated medical groups, adding ~230K capitated lives; signed first delegated contracts outside Florida (Nevada, Oregon); projects ~$150M capitated revenue in 2026.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Launching Starling Nexus provider portal in mid-August 2026 to strengthen provider engagement and adherence to clinical pathways, particularly for network physicians.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Guides Q3 2026 Adjusted EBITDA to $500K–$1.5M as the company onboards and ramps Florida delegated lives, signaling continued progress toward sustained profitability.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
Summary
Starling Oncology (formerly The Oncology Institute) reported a milestone second quarter, achieving its first positive Adjusted EBITDA of $229 thousand—a sharp turnaround from a $4.1 million loss in the prior-year period. Revenue climbed 34.6% year-over-year to $161.3 million, driven by a 58% surge in Specialty Pharmacy revenue from increased prescription fills and Florida delegated arrangements.
Gross profit rose 55.2% to $27.2 million, while the net loss narrowed to $9.8 million from $17.0 million. Management raised full-year 2026 revenue guidance to $650–$670 million and gross profit guidance to $105–$110 million, reflecting confidence in the trajectory.
The company's capitated-care expansion is accelerating: Starling secured exclusivity with a major California partner, adding approximately 230,000 capitated lives, and signed its first delegated contracts outside Florida in Nevada and Oregon. These agreements underpin the company's projection of roughly $150 million in capitated revenue for 2026. The mid-August launch of Starling Nexus, a proprietary provider portal, aims to deepen physician engagement and adherence to clinical pathways. For retail holders, the Q2 profitability milestone and raised guidance suggest the business model is gaining traction, though sustained execution on the capitated ramp and margin expansion will be critical to watch as the company scales.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Starling Oncology announced Q2 2026 financial results via press release; detailed figures not disclosed in the 8-K body.
Added in current filing · verify on EDGAR →
On August 6, 2026, Starling Oncology, Inc. (the "Company") issued a press release announcing its financial results for the three months ended June 30, 2026 and certain other financial information.
The company announced its financial results for the second quarter ended June 30, 2026. The 8-K body does not disclose specific revenue, earnings, or other quantitative results; those details are contained in the attached press release (Exhibit 99.1).
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Consolidated revenue of $161.3 million increased 34.6% from $119.8 million
• Gross profit of $27.2 million, increased 55.2%
• Net loss of $9.8 million compared to net loss of $17.0 million
• Basic and diluted (loss) earnings per share of $(0.08) compared to $(0.15)
• Adjusted EBITDA* of positive $229 thousand compared to $(4.1) million
Starling Oncology reported Q2 2026 revenue of $161.3 million, up 34.6% year-over-year, driven by a 58% surge in Specialty Pharmacy revenue from increased prescription fills and Florida delegated arrangements. Gross profit rose 55.2% to $27.2 million. The company achieved positive Adjusted EBITDA of $229 thousand, a milestone turnaround from a $(4.1) million loss in Q2 2025, while narrowing its net loss to $9.8 million from $17.0 million.
Added in current filing · view on EDGAR →
2026 Guidance - Previous 2026 Guidance - Updated
Revenue | $630 to $650 million | $650 to $670 million
Gross Profit | $97 to $107 million | $105 to $110 million
Adjusted EBITDA | $0 to $9 million | $2 to $7 million
The company raised its full-year 2026 revenue guidance to $650–$670 million from $630–$650 million, gross profit guidance to $105–$110 million from $97–$107 million, and narrowed Adjusted EBITDA guidance to $2–$7 million from $0–$9 million. Free Cash Flow guidance of $5–$15 million remained unchanged. Management cited strong first-half results and momentum from new contracts as drivers.
Added in current filing · view on EDGAR →
Preparing to launch our proprietary provider portal, Starling Nexus, in mid-August which is designed to strengthen provider engagement and drive continued adherence to our clinical pathways, particularly for our network physicians.
The company is launching Starling Oncology Nexus, a proprietary provider portal, in mid-August 2026. The platform is designed to deepen provider engagement and support adherence to clinical pathways, particularly for network physicians. Management expects this tool to enhance operational efficiency and care coordination.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 7, 2026 · How we verify