agilon health

Liquidity is solid with $257 million in cash, cash equivalents and marketable securities, and low debt ($32 million) at June 30, 2026. Credit facility maturity was extended to 2028, supporting flexibility.

However, trailing‑twelve‑month operating cash flow through Q2 2026 was roughly negative $72 million and, after capex, TTM free cash flow approximated negative $85 million by our calculation (H1 2026 operating cash flow −$33.6 million; H2 2025 operating cash flow about −$38.7 million; TTM capex about $12.7 million).

Balance sheet risk is low, but cash generation is not yet durable.