agilon health reported a challenging fourth quarter with a net loss of $189 million and a 3% revenue increase to $1.57 billion. The company faced elevated medical cost trends and negative medical margins, but highlighted transformation initiatives aimed at achieving breakeven Adjusted EBITDA in 2026.
Total revenue increased 3% year-over-year to $1.57 billion in Q4 2025.
Net loss widened significantly to $189 million compared to $106 million in the prior year quarter.
Medical margin turned negative at -$74 million due to elevated medical cost trends reserved at 7.4%.
Total members on the platform decreased 5% to 625,000 following strategic market exits.
agilon health expects 2026 to be a year of material improvement, targeting breakeven Adjusted EBITDA at the midpoint of guidance.
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