newsfilter
← Latest News
GlobeNewswire·

Park Dental Partners Announces First Quarter 2026 Results

PARK
  • Park Dental Partners reported first-quarter 2026 revenue of $62.7 million, a 6.2% increase from $59.0 million in the prior year.
  • The company recorded a net loss of $0.4 million, compared to net income of $1.6 million in the first quarter of 2025.
  • GAAP gross margin fell to $6.4 million (10.2%), down from $9.9 million (16.7%) in the prior year, primarily due to increased share-based compensation.
  • Adjusted gross margin increased 2.6% to $12.2 million, with an adjusted margin percentage of 19.5%.
  • Adjusted EBITDA was $4.7 million, representing a 13.2% decrease from $5.5 million in the prior year comparable quarter.
  • Adjusted diluted EPS was $0.44, down from $1.14 in the prior year, driven by an increase in shares issued during the IPO.
  • Same practice revenue growth was 4.1%, up from 1.2% in the prior year.
  • The number of affiliated doctors increased to 221, a rise of 8.9% from 203 doctors in the prior year.
  • Patient visits reached 178,527 in the first quarter, with a patient retention rate of 90.1%.
  • General practice revenue grew 6.4% to $46.1 million, while multi-specialty practice revenue grew 5.7% to $16.6 million.
  • Cost of services rose to $56.3 million, driven by higher salaries, benefits, share-based compensation, and growth in clinical staff.
  • General and administrative costs increased to $7.8 million due to share-based compensation, acquisition-related costs, public company costs, and lower IPO preparation costs.
  • The company acquired one general practice in Tucson, Arizona, during the quarter, though the financial impact was not material.
  • Cash and cash equivalents totaled $24.4 million as of March 31, 2026, with total debt outstanding at approximately $11.5 million.
  • Operating cash flow generated was $5.0 million, a decrease of $0.8 million from the prior year, mainly due to changes in working capital.
  • Capital investments for the quarter were $2.3 million.
  • The company maintained its full-year 2026 outlook, projecting revenue between $254.0 million and $258.0 million.
  • The 2026 outlook assumes 3.5% to 5.0% same practice revenue growth and includes approximately $2 million in recurring public company costs.
  • A conference call to discuss these results is scheduled for May 14, 2026, at 8:30 a.m. Eastern Time.