Odontoprev (ODPV3) Q1 2026 earnings summary

Executive summary

• Celebrated the launch of the SAUD3 ticker and Bradsaúde's entry into B3, marking a new chapter in the company's evolution and completion of the merger between Bradesco Saúde, Odontoprev, and related assets.

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

• 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.

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

• Net additions of 193,000 beneficiaries in the quarter and 710,000 over the past 12 months, driven by commercial synergies and service expansion.

Financial highlights

• Revenues reached R$13.4 billion in 1Q26, with net income of R$1.3 billion and financial assets totaling R$28.6 billion.

• Bradesco Saúde posted net income of R$914 million in 1Q26, while Odontoprev net income was R$150.6 million.

• Written premiums for 1Q26 were R$13.3 billion, up 8.4% year-over-year; Odontoprev net revenue reached R$2.4 billion in MAR26.

• Financial results of R$875 million in 1Q26, with no debt.

• Atlântica Hospitais manages 3,921 beds, with R$4.8 billion committed and R$2.8 billion already deployed in hospital investments.

Outlook and guidance

• Management remains cautious about claims ratio trends for 2026, citing seasonality, rising frequency, and costs.

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

• Ongoing investments in technology, digital health, and innovation to enhance customer experience and operational efficiency.

• Focus on sustainable growth, balancing member additions with margin and claims management.

• Plans to maintain strict capital allocation discipline, with updates on dividend proposals forthcoming.