West Des Moines, Iowa-based UnityPoint Health reported a -1.3% operating margin for the third quarter, reflecting ongoing expense pressures that outpaced revenue growth. Despite the quarterly loss, the system remains in a strong financial position with improved investment returns and growing patient volumes, according to financial documents published Nov. 21.
Five things to know:
1. UnityPoint posted an operating loss of $17 million for the third quarter of 2025, compared to operating income of $54 million (4% margin) in the same quarter of 2024. For the nine months ending Sept. 30, the system recorded a $20.8 million operating loss (-0.5% margin), down from an $84.9 million gain (2.2% margin) year over year.
2. For the nine months ending Sept. 30, 2025, total operating revenue rose 7.4% year over year to $4.2 billion, driven by a 6.6% increase in hospital outpatient cases and a 4% increase in inpatient discharges. Revenue also came in 3% above budget projections.
3. Expenses climbed 10.3% year over year to $4.2 billion. Salaries, wages and supply costs exceeded budgeted levels as patient volumes rose and inflationary pressures persisted.
4. UnityPoint reported $296.7 million in nonoperating gains for the nine-month period, primarily from investment income. This drove total net income to $268 million, down from $313 million in the same period in 2024.
5. As of Sept. 30, 2025, UnityPoint had $276.3 million in cash and cash equivalents, $909 million in long-term debt, and $4.8 billion in total net assets. Days of cash on hand was 235, down slightly from 245 at the end of 2024.
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