Optima Health (OPT) H2 2026 earnings summary

Executive summary

• Achieved 15% year-over-year revenue growth to GBP 120.6 million, driven by organic growth and acquisitions.

• Adjusted EBITDA rose 15% to GBP 20.1 million, with margin improvements from operational transformation and integration of acquisitions.

• Completed the transformational acquisition of PAM, adding GBP 66 million in revenue and GBP 8.2 million adjusted EBITDA on a pro forma basis.

• Strong new business momentum with GBP 10.8 million annualized contract wins in FY 2026 and GBP 8.6 million post year-end.

• Robust pipeline of GBP 34 million in annualized revenue opportunities.

Financial highlights

• Revenue increased 15% year-over-year to GBP 120.6 million.

• Adjusted EBITDA reached GBP 20.1 million (17% margin), up from GBP 17.6 million.

• Cash generated from operations was GBP 17.3 million, up from GBP 5.4 million in FY 2025.

• Net debt rose to GBP 94.4 million due to GBP 106.6 million in M&A consideration, but GBP 30 million bridge loan repaid post year-end.

• Exceptional costs totaled GBP 4.7 million, mainly related to acquisitions and integration.

Outlook and guidance

• Medium-term targets set at GBP 200 million revenue and GBP 40 million EBITDA.

• U.K. Armed Forces contract to begin generating GBP 20+ million annual revenue from 2027.

• Operational transformation and AI-driven efficiency expected to further improve margins.

• Continued disciplined M&A strategy with a qualified pipeline of opportunities.