SHARPE
Reported results
- Total revenue was $1,358.3 million, up 36.7% year-over-year.
- GAAP loss from operations was $3.8 million.
- GAAP net loss was $8.1 million, compared to net income of $3.7 million in the prior year.
- Non-GAAP adjusted gross profit was $142.2 million, up 11.6% year-over-year.
- Non-GAAP adjusted EBITDA was $21.8 million, representing an adjusted EBITDA margin of 1.6%.
- Medical benefits ratio based on adjusted gross profit was 89.5%.
Guidance
- Fourth quarter 2026 health plan membership guidance is no less than 305,000.
- Fourth quarter 2026 revenue guidance is no less than $1,316 million.
- Fourth quarter 2026 non-GAAP adjusted gross profit guidance is no less than $104 million.
- Fourth quarter 2026 non-GAAP adjusted EBITDA guidance is no less than $(28) million.
- Full-year 2026 health plan membership guidance is no less than 305,000.
- Full-year 2026 revenue guidance is no less than $5,245 million.
- Full-year 2026 non-GAAP adjusted gross profit guidance is no less than $575 million.
- Full-year 2026 non-GAAP adjusted EBITDA guidance is no less than $100 million.
Price and volatility reaction
The stock moved -9.8% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved +6.8 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 8.06 | 2026-10-29 |
| Close after release | 7.27 | 2026-10-30 |
| Realised move | -9.8% | close to close |
| 30d ATM IV change | +6.8 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-29 (8-K, Item 2.02). Read the original filing on sec.gov.