On Friday, August 14, 2026, Oncoclínicas (ONCO3) released its results for the second quarter of 2026 (2Q26), reporting a net loss of R$ 475.7 million, compared to a loss of R$ 142.3 million in 2Q25. Net revenue totaled R$ 1,047.7 million in the quarter, down 28.5% from the same period in 2025, mainly impacted by the drug supply crisis that began in March 2026 and by the higher volume of provisions for denials and doubtful accounts (PCLD).
Gross revenue reached R$ 1,227.6 million in 2Q26, a decline of 25.9% versus the R$ 1,657.6 million recorded in 2Q25. In the last 12 months ended in 2Q26, gross revenue was R$ 5.7 billion, down 15.8% compared to the same period in 2025, while net revenue totaled approximately R$ 4.99 billion, a decrease of 19.0%. The number of procedures in the quarter was around 114 thousand, below previous periods due to the drug shortages, but the average ticket increased 9.5% year over year, to R$ 10,286 in the LTM, up 8.0%.
The cost of services rendered was R$ 818.4 million in 2Q26, a reduction of 20.1% year over year. Cash Gross Profit, which excludes depreciation and amortization, totaled R$ 232.4 million, with a cash gross margin of 22.2%, compared to 30.3% in 2Q25. Normalizing for non-recurring PCLD effects, the cash gross margin would have been 27.2%. Total operating expenses reached R$ 513.2 million, an increase of 30.1% over 2Q25, driven by non-recurring items such as an impairment of R$ 78.0 million on a BTS contract in Goiânia and a R$ 76.0 million penalty for terminating the lease agreement of the Centro Paulista de Oncologia on Avenida Angélica, in São Paulo.
Accounting EBITDA (earnings before interest, taxes, depreciation and amortization) was negative at R$ 245.6 million in 2Q26, versus a positive EBITDA of R$ 115.9 million a year earlier. Adjusted EBITDA, which excludes non-recurring items, the non-cash effect of the long-term incentive plan and hospital operations, was positive at R$ 34.3 million, with a margin of 3.3%, down 85.1% from the R$ 230.1 million posted in 2Q25. According to the company, normalizing for PCLD, the Adjusted EBITDA margin would have been 9.5%. In the last 12 months, Adjusted EBITDA was R$ 432.1 million, with a margin of 8.7%, compared to R$ 1,007.2 million and a margin of 16.4% in the previous 12-month period.
Net financial result was a negative R$ 168.8 million in 2Q26, slightly better than the negative R$ 175.1 million in 2Q25, reflecting lower financial income on the cash position. Income tax and social contribution were positive at R$ 7.4 million in the quarter, versus an expense of R$ 12.6 million a year earlier. Net financial debt plus payables for acquisitions totaled R$ 3,404.3 million on June 30, 2026, with indebtedness concentrated in CCB working capital lines, CRI, loans and debentures, all mostly short term.
