Year 4 Pharmacy Dashboard — Nov 2025

Total Pharmacy

Total Revenue YTD

$46.3M

6 months Nov 25 – Apr 26

Apr Total Revenue

$8.71M

Latest month

Specialty Mix (Apr)

89.6%

$7.8M of $8.71M

Retail Mix (Apr)

10.4%

$907K of $8.71M

Partner Fee Burden

$6.15M

Annual — $4.73M base + $1.42M true-up

Total Revenue — Monthly: Specialty vs Retail ($M)

Specialty Retail

Specialty Pharmacy

✓ Tier 5 confirmed — specialty revenue of $42,172,793 through Apr 2026 exceeds the $34,233,123 threshold after just 6 months. Year-end true-up of $1,420,249 is locked.

Specialty Revenue YTD

$42.2M

6 months complete

Apr Specialty Revenue

$7.80M

COG 61.5%

Apr 340B Utilization

80.6%

Watch — target is 80%

Gross Profit YTD

$14.79M

6 months complete

Net Profit YTD (adj)

$11.71M

After base fee + Tier 5 accrual

Avg Gross Margin

35.1%

vs 34% target

Year-End True-Up Tracker — Tier 5 ($1,420,249 due Nov 2026)

$710,124

Accrued to date (6 months)

$710,125

Remaining to accrue (6 months)

$118,354

Monthly accrual rate

Specialty Revenue — Actual vs Budget ($M)

Actual Budget

Specialty COG % — Actual vs 58% Budget

Actual COG % Budget 58%

Specialty Gross Profit — Actual vs Budget ($M)

Actual GP Budget GP

Full Year Specialty Projection vs Budget ($M)

Projection excludes Feb outlier — uses avg of Nov, Dec, Jan, Mar for remaining months.

Retail Pharmacy

Retail Revenue YTD

$4.13M

6 months Nov 25 – Apr 26

Retail Gross Profit YTD

$1.87M

45.3% margin

Avg Retail GM%

43.7%

vs 22% benchmark

Apr Retail GM%

59.0%

$535,245 gross profit

Retail Gross Margin % — Monthly vs 22% Benchmark

Green ≥22% · Amber 15–21% · Red <15%

Industry benchmark 22% NCPA avg 19.7%

Retail Revenue — Monthly ($)

◆ This tab reflects Specialty Pharmacy performance only. Budget is $82M annual specialty revenue at 58% COG.

Budget: $82M specialty revenue · 58% COG target · Monthly = 1/12 annual · Variance = Actual − Budget (green = favorable for revenue/GP/net; red = over budget for COG)

Monthly Budget vs Actual — Specialty Segment

Line item	Budget/mo

⚠ Feb 2026 — WAC overpurchasing in Feb led to inventory writedown. Operational correction implemented. Not indicative of ongoing performance.

YTD Cumulative Budget vs Actual (6 months)

Line item	YTD Budget	YTD Actual	Variance $	Variance %

◆ This tab reflects Specialty Pharmacy performance only. Retail figures are tracked separately in the Retail P&L tab.

Fee structure: $394,513/month base + $118,354/month Tier 5 accrual = $512,867 effective monthly. Lump sum true-up of $1,420,249 due Nov 2026. Total Year 4 fee burden: $6,154,405.

Year 4 P&L — Specialty Segment (Accrual-Adjusted)

⚠ Feb 2026 — WAC overpurchasing in Feb led to inventory writedown. Operational correction implemented. Not indicative of ongoing performance.

Revenue vs COG vs Gross Profit ($M)

Specialty Net Profit — Monthly ($M)

◆ This tab reflects Specialty Pharmacy performance only. All metrics — 340B utilization, COG %, margins, and revenue — are specialty segment figures.

Scored against accrual-adjusted net margin — most conservative and accurate view. Select a month to view its live scorecard.

All Months vs Benchmarks

Metric	Target	YTD

⚠ Feb 2026 — WAC overpurchasing in Feb led to inventory writedown. Not indicative of ongoing performance.

Benchmark Reference — Year 4 Targets

Metric	Target (green)	Watch (amber)	Act (red)
340B utilization	≥ 80%	75–79%	< 75%
ⓘ Theoretical 340B ceiling is 86.1% due to $550K/mo structural Medicaid WAC floor (13.9% of COG). Target 80% / Watch 75–79%.
WAC utilization	≤ 20%	21–25%	> 25%
Specialty gross margin	≥ 35%	28–34%	< 28%
Specialty net margin (adj)	≥ 25%	20–24%	< 20%
COG as % of specialty revenue	≤ 60%	61–65%	> 65%
Partner fee as % of gross profit	≤ 18%	19–25%	> 25%
Monthly specialty revenue	≥ $7.0M	$6.83M–$6.99M	< $6.83M
Monthly GP floor	≥ $2.6M	$1.8M–$2.59M	< $1.8M

◆ This tab reflects Specialty Pharmacy performance only. Charts show specialty COG split (340B vs WAC), specialty margins, and specialty fee burden.

340B % of COG — Monthly vs Targets (80% / 75%)

340B % Target 80% Watch 75%

Gross Margin vs Net Margin (adj) vs Targets (%)

Gross margin Net margin (adj)

Partner Fee as % of Gross Profit — incl. accrual

Green ≤18% · Amber 19–25% · Red >25% · 18% = Year 4 contract baseline

Partner Fee as % of Specialty Revenue — vs 18% Contract Baseline

18% = vendor's contracted rate at projected revenue of $26.3M · MVHS actual reflects 3.2x over-projection

Actual fee % Contract baseline 18% Internal target 15%

340B vs WAC Drug Spend — Monthly ($M)

340B WAC

Retail P&L tracks the non-specialty pharmacy book. Revenue = Total Sales minus Specialty. No WAC/340B split tracked on retail side.

Retail Revenue YTD

$4.13M

6 months Nov 25 – Apr 26

Retail COG YTD

$2.26M

validated 5/7/26

Retail Gross Profit YTD

$1.87M

45.3% margin

Apr Retail GM%

59.0%

$535,245 gross profit

Retail P&L — Monthly (Nov 2025 – Apr 2026)

Retail Pharmacy — Industry Benchmarks

ⓘ Source: 2024 NCPA Digest & HHS supply chain margins report. Benchmarks reflect community/retail pharmacy gross margin industry averages. Hospital-affiliated retail may differ based on payer mix.

Green Threshold

≥ 22%

At or above industry avg

Amber Threshold

15–21%

Below industry avg (NCPA 19.7%)

Red Threshold

< 15%

Significantly below benchmark

MVHS Avg GM%

43.7%

Green — above 22% benchmark

Metric	Industry Benchmark	MVHS YTD	Status
Retail gross margin %	19.7% (NCPA 2024)	45.3%	Green — above benchmark
Retail COG %	~78–80%	54.7%	Green — below benchmark
Retail as % of total pharmacy rev	N/A — program specific	8.9%	Tracking

Retail Rx Volume & Per-Rx Metrics — Monthly

ⓘ Nov–Mar includes nursing home volume (exited late Mar 26). Apr reflects Meds to Beds (340B eligible) mix.

Retail Rx Volume — Monthly

Nursing home volume exited late Mar 26. Meds to Beds launching — currently ~131 Rx/week, target 200+/week.

Retail Gross Margin % — Monthly vs 22% Benchmark

Green ≥22% · Amber 15–21% · Red <15%

Industry benchmark 22% NCPA avg 19.7%

Retail Revenue — Monthly ($)

Pharmacy Performance Dashboard