Adapthealth Corp. · NASDAQ:AHCO
Adapthealth — Q3 2023 Earnings Presentation
11 slides from Adapthealth's earnings presentation, Nov 1, 2023
Slide 1: Financial Supplement Q3 2023
Financial Supplement Q3 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 September 30, June 30, March 31, December 31, September 30, 2023 2023 2023 2022 2022 Sales revenue $ 532,125 $ 521,633 $ 492,255 $ 534,548 $ 512,523 Rental revenue $ 271,906 $ 271,653 $ 252,371 $ 245,735 $ 243,972 Total net revenue $ 804,03
Slide 4: Q3 2023 Business Mix Summary
Q3 2023 Business Mix Summary Other 9.6% Patient Pay 12.1% HME 6.5% Rental 33.8% Sleep 39.2% Respiratory Government 18.8% 27.4% Insurance 60.5% Sale 66.2% Supplies to the Home 6.0% Diabetes 19.9% Sale Type Product Payor / Investor Supplement / Q3 2023 4
Slide 5: Revenue by Product
Revenue by Product (in thousands) Three Months Ended September 30, June 30, March 31, December 31, September 30, 2023 2023 2023 2022 2022 Net sales revenue Sleep $ 227,005 $ 215,849 $ 213,457 $ 208,787 $ 198,206 Diabetes 157,328 165,021 142,544 188,295 169,075 Supplies to the home 48,349 48,323 46,5
Slide 6: Net Revenue Growth
Net Revenue Growth In millions Reported Net Revenue Growth Non-Acquired Net Revenue Growth (1) +6.3% +6.0% 8.7% ~$804 ~$802 ~$756 ~$756 6.1% 6.0% 5.3% 4.7% Q3’22 Q3’23 Q3’22 Non- Q3’23 Non- Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Reported Reported Acquired Acquired (1) Non-Acquired net revenue compares the re
Slide 7: Appendix
Appendix
Slide 8: Non-GAAP Reconciliation
Non-GAAP Reconciliation (in thousands) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Net (loss) income attributable to AdaptHealth Corp. $ (454,076) $ 16,122 $ (424,392) $ 71,904 Income attributable to noncontrolling interests 1,155
Slide 9: Free Cash Flow
Free Cash Flow (in thousands) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Net cash provided by operating activities $ 98,833 $ 107,023 $ 325,400 $ 276,947 Purchases of equipment and other fixed assets (77,086) (94,171) (248,816) (2
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, June 30, 2023 134,518 124 146,924 Equity-based compensation activity 176 - 176 Exercise of stock options 215 - 215 Employee stock purchase plan activity
Slide 11: Earnings Per Share
Earnings Per Share Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Numerator Net (loss) income attributable to AdaptHealth Corp. $ (454,076) $ 16,122 $ (424,392) $ 71,904 — — (1) Less: Earnings allocated to participating securities 1,360 6,079 Net