Business
Aveanna Healthcare Holdings Announces Fourth Quarter and Full Year 2021 Financial Results
Fiscal year 2021 revenue increased 12.3% to $1,678.6 million, compared to fiscal year 2020Fiscal year 2021 had 52 weeks compared to 53 weeks in 2020; Q4 2021
About this update from Aveanna Healthcare Holdings Inc.
[{"type":"text","content":"Fiscal year 2021 revenue increased 12.3% to $1,678.6 million, compared to fiscal year 2020Fiscal year 2021 had 52 weeks compared to 53 weeks in 2020; Q4 2021 had 13 weeks compared to 14 weeks in Q4 2020Net loss was $117.0 million for fiscal year 2021; primarily attributable to a $117.7 million non-cash charge for goodwill impairment recorded in the fourth quarterFiscal year 2021 Adjusted EBITDA increased 20.9% to $184.2 million; margin expanded by 80 basis points Completed initial public offering and began trading on the Nasdaq in AprilCompleted strategic acquisitions of Doctor's Choice in April, Accredited in November, and Comfort Care in December ATLANTA, March 28, 2022 (GLOBE NEWSWIRE) -- Aveanna Healthcare Holdings, Inc. (NASDAQ: AVAH), a leading, diversified home care platform focused on providing care to medically complex, high-cost patient populations, today announced financial results for the three-month period and fiscal year ended January 1, 2022. Tony Strange, Chief Executive Officer, commented “We are pleased with our accomplishments during 2021 as we completed our IPO, closed three strategic acquisitions, grew the business, and demonstrated the resiliency of our business model as we executed our strategic plan during a challenging year. Over the course of 2021 and through multiple COVID-19 variants, our caregivers and support staff showed great compassion and perseverance in delivering on our important mission for our patients and their families. Our team’s commitment to each other and our mission is what makes us truly special. While the Omicron variant has created labor supply pressures for us in the fourth and first quarters, the high demand for our services, as well as the support we are receiving from state and federal governments, continue to underscore our value proposition over the long-term. The integration of our Accredited Nursing Services and Comfort Care Home Health Services acquisitions completed in the fourth quarter is progressing as expected, and we look forward to the growth opportunities ahead of us in 2022.” Three-Month Periods Ended January 1, 2022 and January 2, 2021 Revenue was $414.1 million for the fourth quarter of 2021, as compared to $422.3 million for the fourth quarter of 2020, a decrease of $8.2 million, or 1.9%. The overall decrease in revenue was primarily attributable to a $35.6 mil...