As we reflect on 2025, it’s clear this was a breakthrough year for our organization, one defined not just by growth but by discipline, focus, and operational maturity.

Over the past several years, we’ve experienced rapid expansion, and with growth often comes complexity. This year, we made the deliberate decision to pause and take a hard look inward, which became one of the most important investments we’ve ever made in the long-term health of the company.

We conducted a comprehensive review of every expense across the organization, down to the smallest details. Nothing was off-limits. We questioned long-standing systems, eliminated inefficiencies, and made thoughtful adjustments across departments.

This year’s global dental supply market has been unpredictable, with rising tariffs, inflation, and international supply chain challenges driving multiple price increases. Our practices have stayed communicative, disciplined, and focused on operational efficiency while maintaining clinical autonomy for our dentists. Despite these challenges, Operation Dental’s growth and scale have secured stronger vendor tiers and more competitive pricing to offset rising costs.

The result? A leaner, more focused organization that is running more efficiently than ever before.

This kind of transformation doesn’t happen without exceptional people. Hats off to our support team, including Billing, Marketing, Finance, IT, Operations, Human Resources, and our Regional leaders, as well as our practice office staff, who contribute to our success each day. The work our team does behind the scenes ensures our practices operate smoothly, adapt quickly, and remain focused on delivering an outstanding patient experience.

From tightening systems and improving workflows to supporting our dentists and front-office teams, our team's attention to detail, problem-solving mindset, and commitment to excellence directly fueled the progress we made in 2025. The efficiency gains, financial improvements, and operational stability achieved this year are a direct reflection of Operation Dental’s people-first approach. This year’s success would not have been possible without our team.

While operational improvements were taking place behind the scenes, our practices delivered a truly remarkable year. Each office exceeded what we previously believed was possible. While clinical growth among our dentists certainly played a role, this milestone, above all, reflects the exceptional patient care consistently delivered across our practices.

The results speak for themselves:

• Patient reviews remain consistently strong, with an average office star rating of 4.9
• Organic growth is increasingly replacing paid advertising
• Reappointment rates improved over 2025, with an office average of 73%
• Case acceptance continues to perform at a high level

This level of performance is a testament to the dedication, professionalism, and people-first care that every team member across our practices demonstrates.

One of the most notable developments in 2025 was the absence of the traditional seasonal slowdowns. Historically challenging months, such as July and September, delivered record-setting performances, contributing to an overall 126% year-over-year growth across the organization. July outperformed every month from January through June, a first for us. September surpassed January, February, and March. Even December is shaping up to be a strong month, when in prior years it often hovered around break-even or losses.

Our practices have reached a level of maturity where strong patient relationships, trust, and goodwill are driving performance forward, regardless of the calendar.

While 2025 was a year of refinement, it was not a year without growth. This year, we closed on our first practice in the Sarasota region, marking a significant step in expanding our presence and introducing our model of patient-centered care to a new community. We also opened a DeNovo practice in Mount Dora, expanding our footprint by building a practice from the ground up using the same standards for clinical excellence, patient-centered care, team culture, operational consistency, and financial discipline. Further reinforcing our people-over-profits approach and commitment to always prioritizing our dentists, employees, and patients.

Additionally, we completed a practice merger in Conway to strengthen an established practice through the addition of operational support, resources, and long-term stability, while continuing to serve patients with the same trusted care. Each of these milestones represents a meaningful step forward in expanding access to exceptional oral healthcare within these communities.

We also onboarded eight new dentists, along with many new team members, to the organization. Together, these achievements represent meaningful steps forward and a strong foundation for continued expansion.

Earlier this year, Operation Dental consolidated and refinanced its debt through a new partnership with Truist Bank, reinforcing our commitment to remaining independent and non–private equity-backed. This partnership strengthened our financial structure and operational foundation, enabling thoughtful, values-aligned growth while maintaining control, stability, and continued focus on patient care.

Looking ahead to 2026, increased collections alongside reduced expenses have positioned the company for renewed growth. With a strong foundation in place, we will focus on strategic consolidation, strengthening key partnerships, and implementing new efficiencies to support sustainable growth and expand access to high-quality oral healthcare across Florida communities. As we enter the year ahead, our team is focused, confident, and energized, ready to continue building our momentum, deliver exceptional patient care, and continue growing together.