Onterris, Inc. — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
Onterris reported Q3 2026 revenue of $203.0M (down 9.7% YoY due to absence of prior-year $45.4M emergency response event), but Adjusted EBITDA of $35.9M (17.7% margin, record) and Diluted Adj EPS of $0.56 (up 56% YoY). Operating cash flow surged 46% to $40.9M. The company completed three small tuck-in acquisitions (~$13.9M funded in 2026) and restarted its acquisition strategy while maintaining 2.5x leverage target. A Board-led strategic review initiated August 5, 2026, remains ongoing with Evercore and AEC Advisors engaged; no timetable set, no transaction certainty.
Why this rating
Strategic review creates uncertainty; modest Q3 operational beat offset by revenue normalization. Acquisitions small relative to ~$772M market cap. Leverage stable. No game-changing news.
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