Acadia Healthcare(NASDAQ) ACHC

Acadia helps people with mental health and addiction problems. It runs specialized hospitals and clinics across the United States. These facilities provide safe places for patients to recover.

Where Patients Recover

• Acute Inpatient Psychiatric: High-level stabilization and constant monitoring for patients in crisis; accounted for $470.7 million in revenue for Q1 2026.
• Comprehensive Treatment Centers: Outpatient clinics using medication-assisted treatment, which uses drugs to treat dependency, for opioid addiction; provided $140.4 million in Q1 2026 revenue.
• Specialty Treatment Facilities: Residential recovery settings for treating addictive and co-occurring mental disorders; generated $128.1 million in revenue for Q1 2026.
• Residential Treatment Centers: Non-hospital settings for behavioral disorders that balance therapy with social and academic activities; contributed $89.6 million in revenue during Q1 2026.

Steps Toward Expansion

• Opened a new joint venture facility with Tufts Medicine during the first quarter of 2026.
• Added 82 new beds across the network in the first quarter of 2026 to meet growing demand.
• Authorized a $300 million share repurchase program in February 2025 to return capital to stockholders.
• Reached an agreement in principle to settle the Sandoval litigation for $15 million in April 2026.

A Specialized Care Network

Acadia operates 275 behavioral healthcare facilities with approximately 12,400 beds across 40 states and Puerto Rico. The company focuses exclusively on behavioral health, positioning itself as a leading platform in a fragmented healthcare industry.

Tracking the Numbers

• Revenue grew to $828.8 million in Q1 2026, a 7.6% increase from the $770.5 million reported in Q1 2025.
• Net income fell to $4.1 million in Q1 2026, down 51% from the $8.4 million earned in Q1 2025.
• Operating cash flow reached $61.5 million in Q1 2026, up 436.1% compared to $11.5 million in Q1 2025.
• Free cash flow narrowed to a $15 million loss in Q1 2026, an improvement from the $163.2 million loss in Q1 2025.

Evolution of the Business

Acadia has expanded its network through joint ventures and facility additions to address rising demand for behavioral health services. The company continues to diversify its care continuum while managing regulatory shifts and historical legal settlements.