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Revenue by Segment
Analyzes income from different business segments, revealing which areas are most profitable and where the company might expand or face challenges.Medicaid revenue has been the steady backbone, rising through rate yields and improving margins despite membership headwinds; management’s mid‑4% net trend and higher composite rate explain growth even as membership falls. The big Medicare inflection since early 2025 reflects rapid PDP/MA scale and is driving outsized revenue and margin upside (management noted Medicare outperformance and PDP ~8.7M). Commercial surged in 2023–25 then softened in Q1 2026, suggesting volatility from market mix/seasonality and Marketplace dynamics—near‑term earnings hinge on June Wakely risk‑adjustment data and persistent medical/pharmacy trends.
Date | Commercial | Medicaid | Medicare | Other Eliminations |
|---|---|---|---|---|
Jun 30, 2026 | $9.36B | $31.97B | $11.06B | $1.20B |
Mar 31, 2026 | $9.56B | $28.89B | $10.33B | $1.18B |
Dec 31, 2025 | $10.79B | $28.04B | $9.61B | $1.28B |
Sep 30, 2025 | $10.99B | $27.96B | $9.39B | $1.34B |
Jun 30, 2025 | $10.07B | $28.00B | $9.45B | $1.22B |
Mar 31, 2025 | $10.15B | $26.43B | $8.76B | $1.28B |
Dec 31, 2024 | $8.72B | $25.33B | $5.48B | $1.27B |
Sep 30, 2024 | $8.69B | $26.44B | $5.64B | $1.25B |
Jun 30, 2024 | $8.54B | $24.11B | $5.98B | $1.21B |
Mar 31, 2024 | $7.75B | $25.53B | $5.93B | $1.19B |