-18%

est. 2Y upside i

Healthcare

Practice management and patient experience platform for healthcare providers

Rank

#3256

Sector

HealthTech

Est. Liquidity

~3Y

Data Quality

Data: Medium

Tebra operates in a large and growing HealthTech market with $250M in revenue and profitability, which are strong fundamentals.

Last updated: March 10, 2026

Bull (13%)+100%

Tebra's AI-driven platform achieves significant market penetration, capturing substantial share from legacy EHR providers and expanding its customer base rapidly. This drives revenue to over $420M by 2028 and justifies a $2.0B valuation, doubling its current market cap.

Base (48%)+44%

Tebra maintains its competitive position, growing steadily by leveraging its integrated platform and AI tools for independent practices. Revenue reaches approximately $360M by 2028, leading to a $1.44B valuation as it prepares for a potential IPO or acquisition.

Bear (39%)-35%

Intense competition from incumbents like Epic (with Epic Express) and athenahealth, coupled with slower-than-expected adoption of AI features, stifles Tebra's growth. Revenue stagnates around $300M, leading to a down round or acquisition at a $650M valuation, significantly impacting common stock value.

Est. time to liquidity~2.5 years
Adjusted for competitive dynamics: 26% (raw: -18%, adjustment: +5%)

Preference Stack Risk

severe

Funding Intensity

54%

Investors hold $537M in liquidation preferences ahead of common shareholders. In an exit at or below $1.0B, common stock value would be significantly impaired.

Dilution Risk

moderate

While recent funding provides runway, the high funding intensity (53.7%) suggests potential for further dilution in future rounds if the company needs more capital to achieve its growth targets.

Secondary Liquidity

limited

No active secondary market or tender offers are publicly known for Tebra, though accredited investors may find limited opportunities through platforms like EquityZen.

Other — 23 roles

View all 23 open roles at Tebra →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Tebra's data — designed to show you've done your homework.

  • 1

    “Given the strong presence of incumbents like Epic and athenahealth, how does Tebra plan to maintain and expand its market share, particularly for independent practices, over the next 2-3 years, especially with the new AI capabilities?”

  • 2

    “With a reported revenue of ~$250M and a recent $250M funding round focused on AI, what are the specific growth targets for Tebra's ARR over the next 24 months, and what key metrics are being tracked to ensure successful adoption and revenue generation from the new AI features?”

  • 3

    “Considering the recent $250M funding round and the current $1.0B valuation, what is the anticipated timeline and strategy for a liquidity event (e.g., IPO or acquisition), and how does the company communicate the implications of the $537M preference stack to employees holding equity?”

Community

Valuation Sentiment

Our model estimates -18% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.