3. Revenue The Company is substantially dependent on revenues received under contracts with federal, state, and local government agencies. Operating funding sources are generally earned from Medicaid, Medicare, commercial insurance reimbursement, and from private and other payors. There is no single customer whose revenue was 10% or more of our consolidated revenue during the periods presented. The following tables set forth revenue by payor type (in millions):
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Pharmacy Solutions |
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For the Three Months Ended March 31, |
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2026 |
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2025 |
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Revenue |
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% of Revenue |
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Revenue |
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% of Revenue |
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Commercial insurance |
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$ |
959.4 |
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26.5 |
% |
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$ |
674.5 |
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23.4 |
% |
Medicaid |
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308.6 |
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8.5 |
% |
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238.2 |
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8.3 |
% |
Medicare Part A |
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137.7 |
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3.8 |
% |
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140.4 |
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4.9 |
% |
Medicare Part B |
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20.3 |
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0.6 |
% |
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19.5 |
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0.7 |
% |
Medicare Part C |
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602.4 |
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16.7 |
% |
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487.7 |
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16.9 |
% |
Medicare Part D |
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1,074.1 |
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29.7 |
% |
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910.9 |
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31.6 |
% |
Private & other |
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68.8 |
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2.0 |
% |
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61.0 |
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2.2 |
% |
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$ |
3,171.3 |
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87.8 |
% |
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$ |
2,532.2 |
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88.0 |
% |
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Provider Services |
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For the Three Months Ended March 31, |
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2026 |
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2025 |
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Revenue |
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% of Revenue |
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Revenue |
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% of Revenue |
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Commercial insurance |
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$ |
54.9 |
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1.5 |
% |
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$ |
41.4 |
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1.4 |
% |
Medicaid |
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97.1 |
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2.7 |
% |
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85.1 |
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3.0 |
% |
Medicare Part A |
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171.2 |
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4.7 |
% |
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122.4 |
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4.3 |
% |
Medicare Part B |
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1.5 |
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0.0 |
% |
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1.5 |
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0.1 |
% |
Medicare Part C |
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64.6 |
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1.8 |
% |
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32.6 |
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1.1 |
% |
Private & other |
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53.1 |
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1.5 |
% |
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62.9 |
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2.1 |
% |
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$ |
442.4 |
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12.2 |
% |
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$ |
345.9 |
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12.0 |
% |
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Consolidated |
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For the Three Months Ended March 31, |
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2026 |
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2025 |
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Revenue |
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% of Revenue |
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Revenue |
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% of Revenue |
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Commercial insurance |
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$ |
1,014.3 |
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28.0 |
% |
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$ |
715.9 |
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24.8 |
% |
Medicaid |
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405.7 |
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11.2 |
% |
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323.3 |
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11.3 |
% |
Medicare Part A |
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308.9 |
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8.5 |
% |
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262.8 |
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9.2 |
% |
Medicare Part B |
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21.8 |
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0.6 |
% |
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21.0 |
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0.8 |
% |
Medicare Part C |
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667.0 |
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18.5 |
% |
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520.3 |
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18.0 |
% |
Medicare Part D |
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1,074.1 |
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29.7 |
% |
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910.9 |
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31.6 |
% |
Private & other |
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121.9 |
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3.5 |
% |
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123.9 |
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4.3 |
% |
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$ |
3,613.7 |
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100.0 |
% |
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$ |
2,878.1 |
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100.0 |
% |
Refer to Note 11 for the disaggregation of revenue by reportable segment.
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