Adapthealth Corp. · NASDAQ:AHCO
Adapthealth — Q2 2024 Earnings Presentation
12 slides from Adapthealth's earnings presentation, Aug 1, 2024
Slide 1: Financial Supplement Q2 2024
Financial Supplement Q2 2024
Slide 2: Disclaimer
Disclaimer 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 performance, or financial condition,
Slide 3: Summary Financial Results
Summary Financial Results (in thousands, except percentages) Three Months Ended June 30, March 31, December 31, September 30, June 30, 2024 2024 2023 2023 2023 Sales revenue $ 516,405 $ 506,140 $ 585,289 $ 532,125 $ 521,633 Rental revenue $ 258,326 $ 254,338 $ 272,945 $ 271,906 $ 271,653 Capitated r
Slide 4: Q2 2024 Business Mix Summary
Q2 2024 Business Mix Summary Other 8.6% Patient HME Pay 6.6% 13.3% Rental 32.0% Sleep 40.1% Respiratory Government 20.0% 26.2% Insurance Capitated Sale 60.5% 3.9% 64.1% Supplies to the Home 5.9% Diabetes 18.8% Sale Type Product Payor / Investor Supplement / Q2 2024 4
Slide 5: Revenue by Product (1 of 2)
Revenue by Product (1 of 2) (in thousands, except percentages) Three Months Ended June 30, March 31, December 31, September 30, June 30, 2024 2024 2023 2023 2023 Net sales revenue Sleep $ 233,361 $ 225,526 $ 240,808 $ 227,005 $ 215,849 Diabetes 147,261 146,979 182,538 157,328 165,021 Supples to the
Slide 6: Revenue by Product (2 of 2)
Revenue by Product (2 of 2) (in thousands, except percentages) Three Months Ended June 30, March 31, December 31, September 30, June 30, 2024 2024 2023 2023 2023 Net revenue from capitated revenue arrangements Sleep $ 6,976 $ 7,052 $ - $ - $ - Diabetes 1,546 1,598 - - - Supples to the home 3,080 3,2
Slide 7: Net Revenue Growth
Net Revenue Growth In millions Reported Net Revenue Growth Non-Acquired Net Revenue Growth (1) +1.6% +1.5% 9.7% ~$793 ~$806 ~$793 ~$805 8.7% 6.0% 6.2% 1.5% Q2’23 Q2’24 Q2’23 Q2’24 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Reported Reported Non-Acquired Non-Acquired (1) Non-Acquired net revenue compares the reve
Slide 8: Appendix
Appendix
Slide 9: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue Revenue Revenue Revenue (in thousands, except percentages) Dollars Percentage Dollars Percentage Dollars Percentage Dollars Percentage Net income attributable to AdaptHealth Corp. $ 19,435 2.4%
Slide 10: Free Cash Flow
Free Cash Flow (in thousands) Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2024 2023 2024 2023 Net cash provided by operating activities $ 197,984 $ 86,319 $ 247,019 $ 226,567 Purchases of equipment and other fixed assets (81,272) (82,610) (169,163) (171,730) Free cash flo
Slide 11: Share Count Information
Share Count Information Total Common and Preferred Stock if (in thousands) Common Stock Preferred Stock (1) Converted Number of shares outstanding, March 31, 2024 133,195 124 145,601 Equity-based compensation activity 182 - 182 Number of shares outstanding, June 30, 2024 133,377 124 145,783 Unvested
Slide 12: Earnings Per Share (EPS)
Earnings Per Share (EPS) Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2024 2023 2024 2023 Numerator Net income attributable to AdaptHealth Corp. $ 19,435 $ 13,977 $ 17,301 $ 29,684 Less: Earnings allocated to participating securities (1) 1,656 1,182 1,4