Slide 1: First Quarter 2024 Earnings Presentation
First Quarter 2024 Earnings Presentation May 2, 2024 1
Slide 2: Forward-Looking Statements; Non-GAAP Financial Information
Forward-Looking Statements; Non-GAAP Financial Information Forward-Looking Statements ⚫ potential substantial malpractice or other similar claims; This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking
Slide 3: A leading pharmacy and health care provider in the U.S.
A leading pharmacy and health care provider in the U.S., serving large and growing markets that have significant unmet needs, with high-quality and integrated services that improve outcomes and reduce cost 3
Slide 4: BrightSpring Platform: Pharmacy Solutions and Provider Services
BrightSpring Platform Key Services Infusion and • Infused, injectable, and oral medication services in the home and clinic Specialty Pharmacy Solutions Pharmacy • Specialty Pharmacy services include expert coordination of patient services, education and fulfillment Home and • Ensure local, timely, a
Slide 5: BrightSpring Financial Highlights
BrightSpring Financial Highlights First Quarter 2024 $2,577M 27.0% $130.5M 13.2% Revenue Revenue Growth Adj. EBITDA Adj. EBITDA Growth First Quarter 2024 ($ in millions) Y/Y Growth acy Solutions Pharm Pharmacy Solutions Revenue $1,977 +34.8% Hom acy ea arm nd Infusion and Specialty al ty Ph C om Rev
Slide 6: Q1 2024 Revenue and Adjusted EBITDA Results
Q1 2024 Revenue and Adjusted EBITDA Results ($ in millions) Revenue Total Revenue $2,577 +27.0% $2,028 $600 +6.8% $561 Provider Services Pharmacy Solutions $1,977 $1,467 +34.8% Q1 2023 Q1 2024 ($ in millions) Adjusted EBITDA Adj. EBITDA 5.7% 5.1% margin(1) Total Adjusted EBITDA $131 $115 +13.2% $82
Slide 7: Pharmacy Solutions Segment Performance
Pharmacy Solutions Segment Performance ($ in millions) Revenue Infusion and Specialty Pharmacy Home and Community Pharmacy Pharmacy Solutions +34.8% $1,977 $511 Business Metrics $1,467 +14.6% $446 $1,466 Prescriptions dispensed 9,854 $1,021 +43.6% (thousands) +9.2% y/y 9,028 in 1Q23 Q1 2023 Q1 2024
Slide 8: Provider Services Segment Performance
Provider Services Segment Performance ($ in millions) Revenue Home Health Care Community and Rehab Care Provider Services +6.8% $600 $561 Business Metrics +5.6% $358 $339 Home Health Care average 42,928 $223 +8.6% $242 daily census +10.6% y/y 38,825 in 1Q23 Q1 2023 Q1 2024 Community and Rehab Care 1
Slide 9: Financial Performance: Three Months Ended March 31, 2024
Financial Performance: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 vs. Three Months Ended March 31, 2024 Pharmacy Solutions Provider Services Three Months Three Months Three Months Three Months ($ in millions, Change ($ in millions, Change Ended March 31, Ended March 31, Ende
Slide 10: 2024 Fiscal Year Guidance
2024 Fiscal Year Guidance 2024 Fiscal Year Guidance Fiscal Year Ended Actual Prior Guidance Updated Guidance ($ in millions) December 31, 2023 December 31, 2024E December 31, 2024E $6,950 - $7,050 $7,850 - $8,300 Pharmacy Revenue $6,522 6.6% - 8.1% y/y 20.4% - 27.3% y/y $2,400 - $2,450 $2,450 - $2,5
Slide 11: Adjusted EBITDA Outlook
Adjusted EBITDA Outlook ($ in millions) Adjusted EBITDA (1) Adjusted EBITDA excl. Quality Incentive Quality Incentive Quality Incentive Payment Payment Received Payment Potential The company may potentially receive this $550 - 564 Quality Incentive Payment of $30M in 2024 +2 - 5% Y/Y $538 $16* $30 $
Slide 12: De-leveraging Plan and Capital Allocation Priorities
De-leveraging Plan and Capital Allocation Priorities De-leveraging driven by operational performance and capital allocation Long Term Pre IPO / Post-Equity and Debt Transactions Leverage Ratio Leverage Ratio (1) Target Cash Flow • Capex needs: 1% of revenue Generation • Sustainable net working capit
Slide 13: Appendix
Appendix 13
Slide 14: Non-GAAP Reconciliations
Non-GAAP Reconciliations Quarter Ended ($ in thousands) March 31, 2023 March 31, 2024 Net (Loss) Income $ (22,276) $ (46,385) Income Tax Expense (Benefit) (4,346) (23,294) Interest Expense 78,177 65,020 Depreciation and Amortization 50,345 48,922 EBITDA $ 101,900 $ 44,263 Non-Cash Share-Based Compen