Adapthealth Corp. · NASDAQ:AHCO
Adapthealth — Q4 2023 Earnings Presentation
11 slides from Adapthealth's earnings presentation, Feb 1, 2024
Slide 1: Financial Supplement Q4 2023
Financial Supplement Q4 2023
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) Three Months Ended December 31, September 30, June 30, March 31, December 31, 2023 2023 2023 2023 2022 Sales revenue $ 585,289 $ 532,125 $ 521,633 $ 492,255 $ 534,548 Rental revenue $ 272,945 $ 271,906 $ 271,653 $ 252,371 $ 245,735 Total net revenue $ 858,234
Slide 4: Q4 2023 Business Mix Summary
Q4 2023 Business Mix Summary Other Patient 10.7% Pay HME 10.3% Rental 6.1% 31.8% Sleep 38.3% Government Respiratory 27.3% 17.6% Insurance Sale Supplies 62.4% 68.2% to the Home 5.7% Diabetes 21.6% Sale Type Product Payor / Investor Supplement / Q4 2023 4
Slide 5: Revenue by Product
Revenue by Product (in thousands) Three Months Ended December 31, September 30, June 30, March 31, December 31, 2023 2023 2023 2023 2022 Net sales revenue Sleep $ 240,808 $ 227,005 $ 215,849 $ 213,457 $ 208,787 Diabetes 182,538 157,328 165,021 142,544 188,295 Supples to the home 49,248 48,349 48,323
Slide 6: Net Revenue Growth
Net Revenue Growth In millions Reported Net Revenue Growth Non-Acquired Net Revenue Growth (1) +10.0% +9.7% 9.7% ~$858 ~$856 8.7% ~$780 ~$780 6.0% 5.3% 4.7% Q4’22 Q4’23 Q4’22 Non- Q4’23 Non- Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Reported Reported Acquired Acquired (1) Non-Acquired net revenue compares the r
Slide 7: Appendix
Appendix
Slide 8: Non-GAAP Reconciliation
Non-GAAP Reconciliation (in thousands) Three Months Ended Twelve Months Ended December 31, December 31, December 31, December 31, 2023 2022 2023 2022 Net (loss) income attributable to AdaptHealth Corp. $ (254,503) $ (2,588) $ (678,895) $ 69,316 Income attributable to noncontrolling interests 928 1,0
Slide 9: Free Cash Flow
Free Cash Flow (in thousands) Three Months Ended Twelve Months Ended December 31, December 31, December 31, December 31, 2023 2022 2023 2022 Net cash provided by operating activities $ 155,266 $ 96,920 $ 480,666 $ 373,867 Purchases of equipment and other fixed assets (88,647) (142,912) (337,463) (39
Slide 10: Share Count Information
Share Count Information Total Common and Preferred Stock if (1) (in thousands) Common Stock Preferred Stock Converted Number of shares outstanding, September 30, 2023 134,991 124 147,397 Equity-based compensation activity 185 - 185 Exercise of stock options 11 - 11 Shares purchased under share repur
Slide 11: Earnings (Loss) Per Share
Earnings (Loss) Per Share Three Months Ended December 31, Twelve Months Ended December 31, (in thousands) 2023 2022 2023 2022 Numerator Net (loss) income attributable to AdaptHealth Corp. $ (254,503) $ (2,588) $ (678,895) $ 69,316 (1) Less: Earnings allocated to participating securities – – – 5,867