Salisbury, Md.-based TidalHealth reported a $49.1 million operating loss (-3.8% margin) in the fiscal year ending June 30, 2026, compared to a $33.9 million operating loss (-3.4% margin) in 2025, according to financial documents posted Oct. 28.
Four things to know:
1. TidalHealth, a three-hospital system, reported operating revenue of $1.3 billion, up 31% from $989 million the year before. Operating revenue included $18.4 million in COVID-19-related FEMA grant payments. The system said future payments are uncertain.
2. Operating expenses rose 31.4% to $1.3 billion, up from $1.0 billion.Implicit price concessions, a measure of uncollectible patient bills, more than doubled to $42.6 million from $18.8 million.
3. TidalHealth reported net income of $18 million, down 77.8% from $81 million. The prior year included a one-time $58.9 million gain tied to its acquisition of Atlantic General Hospital.
4. As of June 30, TidalHealth’s long-term debt was $366.1 million, net assets were $870.9 million and total assets were $1.5 billion.
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