Adapthealth Corp. · NASDAQ:AHCO
Adapthealth — Q2 2023 Earnings Presentation
11 slides from Adapthealth's earnings presentation, Aug 1, 2023
Slide 1: Financial Supplement Q2 2023
Financial Supplement Q2 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 June 30, March 31, December 31, September 30, June 30, 2023 2023 2022 2022 2022 Sales revenue $ 521,633 $ 492,255 $ 534,548 $ 512,523 $ 492,654 Rental revenue $ 271,653 $ 252,371 $ 245,735 $ 243,972 $ 234,960 Total net revenue $ 793,286 $ 7
Slide 4: Q2 2023 Business Mix Summary
Q2 2023 Business Mix Summary Other 8.6% Patient Pay HME 13.7% 6.5% Rental 34.2% Sleep 38.1% Respiratory 19.4% Government 26.4% Insurance 59.9% Sale 65.8% Supplies to the Home 6.1% Diabetes 21.3% Sale Type Product Payor / Investor Supplement / Q2 2023 4
Slide 5: Revenue by Product
Revenue by Product (in thousands) Three Months Ended June 30, March 31, December 31, September 30, June 30, 2023 2023 2022 2022 2022 Net sales revenue Sleep $ 215,849 $ 213,457 $ 208,787 $ 198,206 $ 194,693 Diabetes 165,021 142,544 188,295 169,075 162,259 Supplies to the home 48,323 46,555 47,787 47
Slide 6: Net Revenue Growth
Net Revenue Growth In millions Reported Net Revenue Growth Non-Acquired Net Revenue Growth (1) +8.7% +9.0% ~$791 8.7% ~$793 ~$728 ~$728 6.1% 5.3% 4.7% Q2’22 Q2’23 Q2’22 Non- Q2’23 Non- -0.3% Reported Reported Acquired Acquired Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 (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 Six Months Ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 Net income attributable to AdaptHealth Corp. $ 13,977 $ 14,032 $ 29,684 $ 55,782 Income attributable to noncontrolling interests 1,064 1,215 2,032 1,695 Interest expense
Slide 9: Free Cash Flow
Free Cash Flow (in thousands) Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 Net cash provided by operating activities $ 86,319 $ 103,473 $ 226,567 $ 169,924 Purchases of equipment and other fixed assets (82,610) (77,174) (171,730) (154,340) Free cash flo
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, March 31, 2023 134,148 124 146,554 Equity-based compensation activity 156 - 156 Exercise of stock options 214 - 214 Number of shares outstanding, June 3
Slide 11: Earnings Per Share
Earnings Per Share Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Numerator Net income attributable to AdaptHealth Corp. $ 13,977 $ 14,032 $ 29,684 $ 55,782 Less: Earnings allocated to participating securities (1) 1,182 1,186 2,508 4,721 Net income for basic