Adapthealth Corp. · NASDAQ:AHCO
Adapthealth — Q1 2023 Earnings Presentation
10 slides from Adapthealth's earnings presentation, May 1, 2023
Slide 1: Financial Supplement Q1 2023
Financial Supplement Q1 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 March 31, December 31, September 30, June 30, March 31, 2023 2022 2022 2022 2022 Sales revenue $ 492,255 $ 534,548 $ 512,523 $ 492,654 $ 475,955 Rental revenue $ 252,371 $ 245,735 $ 243,972 $ 234,960 $ 230,248 Total net revenue $ 744,626 $
Slide 4: Q1 2023 Business Mix Summary
Q1 2023 Business Mix Summary Other 8.5% Patient Pay HME 16.0% 6.8% Rental 33.9% Sleep 39.5% Respiratory Resupply Sale 19.2% Government Insurance 57.1% 25.3% 58.7% One-time Sale Supplies to 9.0% the Home 6.3% Diabetes 19.7% ~91% of revenue comes from recurring sales or rentals Sale Type Product Payor
Slide 5: Revenue by Product
Revenue by Product (in thousands) Three Months Ended March 31, December 31, September 30, June 30, March 31, 2023 2022 2022 2022 2022 Net sales revenue Sleep $ 213,457 $ 208,787 $ 198,206 $ 194,693 $ 192,335 Diabetes 142,544 188,295 169,075 162,259 151,359 Supplies to the home 46,555 47,787 47,793 4
Slide 6: Net Revenue Growth
Net Revenue Growth In millions Reported Net Revenue Growth Non-Acquired Net Revenue Growth (1) +4.7% +5.4% ~$739 6.1% ~$745 ~$706 ~$706 5.3% 4.7% 3.7% Q1’22 Q1’23 Q1’22 Non- Q1’23 Non- -0.3% Reported Reported Acquired Acquired Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 (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 March 31, March 31, 2023 2022 Net income attributable to AdaptHealth Corp. $ 15,707 $ 41,750 Income attributable to noncontrolling interests 968 480 Interest expense, net 31,955 24,776 Income tax (benefit) expense (1,714) 5,603 Depreciation a
Slide 9: Share Count Information
Share Count Information Total Common and Preferred Stock if (in thousands) Common Stock Preferred Stock (1) Converted Number of shares outstanding, December 31, 2022 134,435 124 146,841 Equity-based compensation activity 292 - 292 Employee stock purchase plan activity 53 - 53 Shares purchased under
Slide 10: Earnings Per Share
Earnings Per Share Three Months Ended March 31, (in thousands) 2023 2022 Numerator Net income attributable to AdaptHealth Corp. $ 15,707 $ 41,750 (1) Less: Earnings allocated to participating securities 1,327 3,537 Net income for basic EPS $ 14,380 $ 38,213 Change in fair value of warrant liability