Adapthealth Corp. · NASDAQ:AHCO
Adapthealth — Investor Presentation (January 2024)
16 slides from Adapthealth's investor presentation, January 2024
Slide 1: AdaptHealth Corp. Investor Presentation
JANUARY 2024 AdaptHealth Corp. I N V E S T O R P R E S E N TAT I O N DRAFT AS OF 09/02/22
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This presentation contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management's current views concerning future business, events, trends, contingencies, financial
Slide 3: Our strategic ambitions are guided by our vision
O U R S T R AT E G I C A M B I T I O N S A R E GUIDED BY OUR VISION Be the leading provider Improve of equipment + patient lives services that empower + healthcare at home Reduce overall through best-in-class cost of care care + superior technology
Slide 4: Market leading provider of sleep, diabetes + respiratory solutions
S T R O N G F O U N DAT I O N Market leading provider of sleep, diabetes + respiratory solutions—an integrated, patient-centric, tech-enabled model U N M AT C H E D D I F F E R E N T I AT E D C APA B I L I T I E S $3.17B S C A L E + I M PA C T 4 million patient census TECHNOLOGY 2023 net revenue est
Slide 5: Financial Trends
Financial Trends NET REVENUE ($mm) ADJ. EBITDA ($mm) FREE CASH FLOW ($mm) $640 7% $3,173 $112 $2,971 8% $594 $72 5% 21% $566 $2,455 $(18) 1 1 2021 2022 2023E 2021 2022 2023E 2021 2022 2023E 1 5 1: 2023E (estimated) numbers are the midpoint of 2023 guidance
Slide 6: Our comprehensive solutions address a range of chronic diseases
Our comprehensive solutions address a range of chronic diseases SLEEP DI ABETES R E S P I R AT O R Y HME SUPPLIES PATIENT Obstructive Sleep Diabetes COPD CHF Multiple Diseases DISEASES TREATED Apnea (OSA) Chronic Respiratory Various Failure OUR CPAP machines Continuous Oxygen therapy Hospital beds I
Slide 7: Sleep at-a-glance
Sleep at-a-glance PRODUCT OFFERINGS LTM NET REVENUE ($mm) 16% $1,198 Rentals $1,030 28% $1.2B 36% $756 NET REVENUE Q3 ‘23 LTM 72% Q3 '21 LTM Q3 '22 LTM Q3 '23 LTM PAP Resupply ~390K 278 RENTAL CENSUS ('000) 304 390 M AR K E T S H AR E 1 R E N TAL PAT I E N T C E N S U S AdaptHealth as of Sept 30, 20
Slide 8: Diabetes at-a-glance
Diabetes at-a-glance PRODUCT OFFERINGS Continuous Other LTM NET REVENUE ($mm) Glucose 20% insulin pumps, $667MM $459 47% $674 -1% $667 Monitors (CGM) glucose meters, test strips, syringes, and other supplies NET REVENUE Q3 ‘23 LTM 80% Q3 '21 LTM Q3 '22 LTM Q3 '23 LTM ~237K LTM PATIENT COUNT ('000) M
Slide 9: Respiratory at-a-glance
Respiratory at-a-glance PRODUCT OFFERINGS LTM NET REVENUE ($mm) ✚ Oxygen Therapy $585MM $376 43% $538 9% $585 ✚ Ventilation ✚ Nebulizers & Nebulized Medications NET REVENUE Q3 ‘23 LTM Q3 '21 LTM Q3 '22 LTM Q3 '23 LTM M AR K E T S H AR E 1 ~318K RENTAL CENSUS ('000) AdaptHealth PAT I E N T S O N O 2
Slide 10: Addressing the Increasing Usage of GLP-1s
Addressing the Increasing Usage of GLP-1s ✚ We have experienced no slowdown in CPAP setups ✚ Our resupply census is continuing to grow, with no increase in attrition ✚ GLP-1s are already present in our population – in our most recent survey of 100k patients, 17% confirmed they’ve been prescribed a G
Slide 11: Positioning AdaptHealth for Future Growth Opportunities
Positioning AdaptHealth for Future Growth Opportunities T O D AY FUTURE E A R LY I N N I N G S Leading the Pioneering the shift to connected market health solutions ✚ Top 2 market share ✚ Integrated, condition specific product suites significant across key product categories1 ✚ Real time, actionable
Slide 12: Key Executive Hires
Key Executive Hires Briah Carey Brett Cohen Jonathan Bush President, Diabetes SVP, Value Based Care General Counsel ✚ Start Date: January 2024 ✚ Start Date: November 2023 ✚ Start Date: November 2023 ✚ Most Recent Role: Group Vice President, ✚ Most Recent Role: COO, Ascellus (2021- ✚ Most Recent Role
Slide 13: Key Takeaways
Key Takeaways ✚ 2023 guidance reflects revenue growth of 7%, Adjusted EBITDA growth of 8%, and a $130mm increase in Free Cash Flow over 2022 ✚ Value-based care contract with Humana creates future opportunities ✚ Developing GLP1 strategy ✚ Enhancing executive team with several key hires 13
Slide 14: Appendix
Appendix +* adapthealth 14
Slide 15: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation This presentation discusses AdaptHealth’s EBITDA and Adjusted EBITDA for prior periods. AdaptHealth defines EBITDA as net income attributable to AdaptHealth Corp., plus net income attributable to noncontrolling interests, interest expense, net, income tax expense, and
Slide 16: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation This presentation discusses AdaptHealth’s Free Cash Flow. AdaptHealth defines free cash flow as net cash provided by operating activities less cash paid for purchases of equipment and other fixed assets. The following unaudited table presents Free Cash Flow for the year