Odontoprev (ODPV3) Q1 2026 earnings summary

Executive summary

• Achieved revenues of R$13.4 billion in 1Q26, with net income of R$1.3 billion and a total of 13.4 million members, reflecting strong growth and scale in the healthcare ecosystem.

• Celebrated the launch of the SAUD3 ticker and entry into B3, marking a new phase for the company.

• Major corporate restructuring completed, merging Bradesco Saúde, Odontoprev, and other assets under Bradsaúde.

• The ecosystem integrates health and dental insurance, hospitals, clinics, diagnostics, and technology, serving over 13 million beneficiaries nationwide.

• Highlighted 20 years of value generation since IPO, with significant growth in revenues and market value.

Financial highlights

• Revenues reached R$13.4 billion in 1Q26, with written premiums of R$13.3 billion, up 8.4% year-over-year.

• Net income for 1Q26 was R$1.3 billion, with Bradesco Saúde contributing 83%, Odontoprev 11%, Atlântica Hospitais 5%, and others 1%.

• Financial assets totaled R$28.6 billion at the end of 1Q26, with financial results of R$875 million.

• Odontoprev net revenue grew at a 15% CAGR since IPO, reaching R$2.4 billion in MAR26.

• No debt, maintaining a robust capital structure.

Outlook and guidance

• Management expressed caution regarding claims ratio trends for 2026, citing seasonality and rising medical inflation.

• Focus remains on sustainable growth, balancing member expansion with margin protection and price discipline.

• Ongoing investment in technology, digital health, and analytics to manage claims and operational efficiency.

• Continued expansion of hospital network with new openings scheduled through 2029, including Santa Lúcia Gama and Albert Einstein Vila Mariana.

• The group emphasizes innovation, operational excellence, and long-term sustainability.