Park Dental Partners (PARK) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue grew 5.1% year-over-year to $66.2 million, driven by acquisitions, increased clinical hours, and improved reimbursement rates.

• Net income for Q2 2026 was $1.3 million ($0.22 per diluted share), down from $2.6 million in Q2 2025, primarily due to higher share-based compensation and operating expenses.

• Adjusted EBITDA for Q2 2026 was $7.4 million (11.2% margin), nearly flat year-over-year.

• Patient retention remained strong at 90.3%, with patient visits stable at 186,000 and affiliated doctor count rising to 219 across 87 practices.

• Operating cash flow for the first half of 2026 was $9.7 million, supporting ongoing expansion and acquisitions.

Financial highlights

• Six-month revenue rose 5.6% year-over-year to $128.9 million.

• Gross margin for Q2 2026 was $9.5 million (14.4% of revenue), down from $11.9 million (18.9%) in Q2 2025.

• Adjusted gross margin for Q2 2026 was $14.7 million (22.2% of revenue), up 4.2% year-over-year.

• Adjusted diluted EPS was $0.66 for Q2 2026, down from $1.88 in Q2 2025.

• Same-practice revenue growth was 2.3% for the quarter and 3.2% year to date.

Outlook and guidance

• Full-year 2026 revenue outlook raised to $256–$260 million, up 5.5% at midpoint from 2025.

• Adjusted EBITDA guidance for 2026 is $21–$23 million, with a margin of 8.2–8.8%.

• Guidance excludes any contribution from the Village Family Dental acquisition until closing.

• Organic revenue growth expected at 3.5–5.0% for 2026.

• Management expects existing cash and operating cash flows to be sufficient for at least the next 12 months.