Press release
NUTEX HEALTH REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS
TOTAL REVENUE OF $67.5 MILLION FOR FIRST QUARTER 2024 VS $56.3 MILLION IN 2023, AN INCREASE OF 20%HOSPITAL DIVISION VISITS OF 40,068 FOR THE FIRST QUARTER
About this update from Nutex Health Inc.
[{"type":"text","content":"TOTAL REVENUE OF $67.5 MILLION FOR FIRST QUARTER 2024 VS $56.3 MILLION IN 2023, AN INCREASE OF 20%HOSPITAL DIVISION VISITS OF 40,068 FOR THE FIRST QUARTER 2024 VS VISITS OF 33,085 IN 2023, AN INCREASE OF 21.1%HOSPITAL DIVISION OPERATING INCOME OF $10.5 MILLION FOR FIRST QUARTER 2024 VS $4.8 MILLION IN 2023, AN INCREASE OF 119%NET CASH FROM OPERATING ACTIVITIES OF $3.1 MILLION FOR FIRST QUARTER 2024CONTINUED FOCUS ON INCREASED CASH FLOW THROUGH REDUCTION IN OPERATING EXPENSES AND PORTFOLIO OPTIMIZATIONHOUSTON, May 8, 2024 /PRNewswire/ -- Nutex Health Inc. (\"Nutex Health\" or the \"Company\") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 21 state-of-the-art micro hospitals in nine states and primary care-centric, risk-bearing physician networks, today announced first quarter 2024 financial results for the three months ended March 31, 2024.\n\nFinancial Highlights for the Three Months Ended March 31, 2024:\nTotal revenue of $67.5 million as compared to total revenue of $56.3 million for the three months ended March 31, 2023, an increase of approximately 20%. Of this revenue growth, mature hospitals, which are hospitals opened prior to December 31, 2021, increased by 6.7% in 2024 compared to 2023.Total visits from the Hospital Division were 40,068 for the first quarter 2024 as compared to 33,085 for the first quarter 2023, an increase of 6,983 or 21.1%. Of this visit growth, mature hospitals increased by 5.3% in 2024 compared to 2023.Net loss attributable to Nutex Health Inc. of $0.4 million as compared to net loss attributable to Nutex Health Inc. of $5.1 million for the three months ended March 31, 2023.EBITDA of $7.1 million as compared to EBITDA of $0.3 million for the three months ended March 31, 2023.Adjusted EBITDA of $4.6 million as compared to Adjusted EBITDA of $2.4 million for the three months ended March 31, 2023, an increase of 92%.Net cash from operating activities of $3.1 million.As of March 31, 2024, the Company had total assets of $404.3 million, including cash and cash equivalents of $30.0 million and long-term debt of $26.3 million.Note: EBITDA and Adjusted EBITDA are non-GAAP financial metrics. A reconciliation of non-GAAP to GAAP measures is included below in this earnings release.\n\"We are pleased to report 20% revenue growth, Adjusted EBITDA of $4.6 mi...