+1%

est. 2Y upside i

Healthcare

Practice management and patient experience platform for healthcare providers

Rank

#1851

Sector

Healthcare Software

Est. Liquidity

~3Y

Data Quality

Data: Medium

The expected 2-year equity upside is ~1.2%, weighed down by high incumbent threat and likely dilution.

Last updated: July 19, 2026

Bull (10%)+69%

Tebra achieves IPO within 2 years, benefiting from AI-driven market leadership and strong demand. Exit multiple expands to 10x, yielding $1.89B exit, netting 69% upside after dilution.

Base (45%)+13%

Tebra grows steadily at ~30% CAGR, with exit multiple converging to 7x, resulting in $1.33B exit. After 20% dilution from a future equity round, net upside is 12.5%.

Bear (45%)-25%

Intense competition from Epic and athenahealth compresses multiple to 5x; $947M exit yields -5% gross, reduced to -25% net of dilution. Preference stack not triggered but poses risk.

Est. time to liquidity~2.5 years
Adjusted for competitive dynamics: 9% (raw: 1%, adjustment: +8%)

Preference Stack Risk

severe

Funding Intensity

3870%

Total preferred funding of $387M represents 38.7% of the $1B valuation, severely diluting common in a downside exit.

Dilution Risk

high

With $250M debt and likely need for additional equity, a 20% dilution from a future round within 2 years is assumed.

Secondary Liquidity

none

No secondary market activity reported; no tender offers or liquidity programs mentioned.

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

    “How does Tebra plan to differentiate from Epic and athenahealth in the next 2 years?”

  • 2

    “What is the unit economics (LTV/CAC) for your typical practice customer?”

  • 3

    “What is the expected timeline to liquidity, and are there secondary sale opportunities for employees?”

Community

Valuation Sentiment

Our model estimates +1% 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.