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Accendra Health ( (ACH) ) has issued an update.
Accendra Health, Inc. reported fourth-quarter and full-year 2025 results on February 19, 2026, highlighting net revenue of $2.8 billion for continuing operations, up 3% year over year, and operating cash flow of $154 million. The company’s continuing operations primarily reflect its Patient Direct business, with 2025 adjusted net income from continuing operations of $80.3 million and adjusted EBITDA of $374.8 million, while GAAP loss from continuing operations narrowed to $102.7 million compared with a $350.7 million loss in 2024.
The company completed the sale of its Products & Healthcare Services business on December 31, 2025, marking a major step in its separation from former parent Owens & Minor and leaving Accendra as a more focused, standalone entity. Management emphasized stronger cash flow, ongoing debt reduction and balance sheet optimization, and signaled a transition period in early 2026 as it works toward full separation, aiming to enhance financial resilience and long-term value for shareholders and other stakeholders.
For the fourth quarter of 2025, Accendra generated revenue of $709 million from continuing operations, modestly higher than the $695 million recorded a year earlier. The quarter showed a GAAP loss from continuing operations of $9.4 million, significantly improved from a $331.9 million loss in the prior-year period, while adjusted net income came in at $16.7 million, down from $25 million, and adjusted EBITDA was $90 million versus $102.5 million.
Free cash flow from continuing operations for 2025 reached $98.3 million, slightly ahead of the $96.4 million posted in 2024, underscoring the company’s focus on cash generation despite restructuring and portfolio changes. The company also highlighted strong cash flow and debt reduction during the fourth quarter, reinforcing its narrative of moving into 2026 with a leaner cost structure and tighter capital discipline as it refines its operating model post-divestiture.
In 2026, Accendra expects revenue from continuing operations between $2.55 billion and $2.65 billion, with adjusted EBITDA projected to range from $335 million to $355 million. The company anticipates free cash flow of $90 million to $110 million, and notes that its outlook is sensitive to market conditions, consumer demand, supply chain stability and interest rates, factors that could influence its earnings quality and balance sheet trajectory as it completes its strategic repositioning.
The most recent analyst rating on (ACH) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Accendra Health stock, see the ACH Stock Forecast page.
Spark’s Take on ACH Stock
According to Spark, TipRanks’ AI Analyst, ACH is a Neutral.
Owens & Minor’s overall stock score is primarily impacted by its poor financial performance, with significant challenges in revenue, profitability, and cash flow. The technical analysis indicates a bearish trend, and the valuation is unattractive due to negative earnings and no dividend yield. The earnings call provided some positive strategic shifts, but these are overshadowed by ongoing operational issues and financial instability.
To see Spark’s full report on ACH stock, click here.
More about Accendra Health
Accendra Health, Inc. is a nationwide healthcare company that provides products, technology and services aimed at supporting care beyond the hospital for millions of patients annually. The company connects patients, providers and insurers with solutions designed to improve health outcomes and quality of life for people living with chronic conditions, focusing on its Patient Direct segment and related functional operations.
Operating in the broader healthcare services and medical products distribution space, Accendra Health targets the growing market for home- and community-based care. By emphasizing high-quality earnings, low working capital needs and stable cash generation, the company positions itself as a leaner, more nimble player following its strategic separation from legacy operations under Owens & Minor, and seeks to sharpen its value proposition to long-term investors and other stakeholders.
Average Trading Volume: 1,657,550
Technical Sentiment Signal: Sell
Current Market Cap: $181M
For an in-depth examination of ACH stock, go to TipRanks’ Overview page.