Adapthealth Corp. · NASDAQ:AHCO
Adapthealth — Q4 2024 Earnings Presentation
15 slides from Adapthealth's earnings presentation, February 2025
Slide 1: Financial Supplement Q4 2024
Financial Supplement Q4 2024
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, except percentages) Three Months Ended December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 Sales revenue $ 557,533 $ 510,693 $ 516,405 $ 506,140 $ 585,289 Rental revenue 265,078 262,315 258,326 254,338 272,945 Capitated revenue
Slide 4: Q4 2024 Business Mix Summary
Q4 2024 Business Mix Summary Sale 65.1 % Sale Type Segment Payor / Investor Supplement / Q4 2024 4
Slide 5: Revenue by Segment (1 of 2)
Revenue by Segment (1 of 2) (in thousands, except percentages) Three Months Ended December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 Net sales revenue: Sleep Health $ 265,319 $ 246,895 $ 242,526 $ 237,592 $ 256,619 Respiratory Health 8,443 8,307 8,033 7,905 18,672 Di
Slide 6: Revenue by Segment (2 of 2)
Revenue by Segment (2 of 2) (in thousands, except percentages) Three Months Ended December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 Net revenue from capitated revenue arrangements: Sleep Health $ 7,745 $ 7,379 $ 6,976 $ 7,052 $ — Respiratory Health 15,410 14,942 14,
Slide 7: Net Revenue Growth
Net Revenue Growth In millions Reported Net Revenue Growth Non-Acquired Net Revenue Growth (1) (0.2)% (0.4)% ~$858 ~$857 $858 ~$855 1. Non-Acquired net revenue compares the revenue of companies we have owned for a year or more based on the month of acquisition / Investor Supplement / Q4 2024 7
Slide 8: Appendix
Appendix
Slide 9: Consolidated Non-GAAP Reconciliation
Consolidated Non-GAAP Reconciliation Three Months Ended December 31, Twelve Months Ended December 31, 2024 2023 2024 2023 Revenue Revenue Revenue Revenue (in thousands, except percentages) Dollars Percentage Dollars Percentage Dollars Percentage Dollars Percentage Net income (loss) attributable to A
Slide 10: Segment Information
Segment Information Three Months Ended December 31, 2024 Three Months Ended December 31, 2023 Sleep Respiratory Diabetes Wellness at Sleep Respiratory Diabetes Wellness at (in thousands, except percentages) Health Health Health Home Total Health Health Health Home Total Net revenue $ 356,520 $ 165,3
Slide 11: Segment Non-GAAP Reconciliation
Segment Non-GAAP Reconciliation Three Months Ended December 31, Twelve Months Ended December 31, (in thousands) 2024 2023 2024 2023 Total Segment Adjusted EBITDA $ 200,600 $ 204,619 $ 688,657 $ 670,795 Interest expense, net (29,729) (33,486) (126,668) (130,299) Depreciation and amortization, includi
Slide 12: Free Cash Flow
Free Cash Flow (in thousands) Three Months Ended December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 Net cash provided by operating activities $ 150,415 $ 144,405 $ 197,984 $ 49,035 $ 155,266 Purchases of equipment and other fixed assets (77,336) (59,556) (81,272) (87
Slide 13: Debt Structure
Debt Structure (in thousands) 12/31/2024 Rate Maturity Revolving credit facility Undrawn Base Rate or Term SOFR (1) September 2029 Secured term loan $ 550,000 Base Rate or Term SOFR (1) September 2029 6.125% Senior unsecured notes due 2028 350,000 6.125% August 2028 4.625% Senior unsecured notes due
Slide 14: Share Count Information
Share Count Information Total Common and Preferred Stock, if (in thousands) Common Stock Preferred Stock (1) Converted Number of shares outstanding, September 30, 2024 134,539 124 146,945 Equity-based compensation activity 64 — 64 Number of shares outstanding, December 31, 2024 134,603 124 147,009 U
Slide 15: Earnings Per Share (EPS)
Earnings Per Share (EPS) Three Months Ended December 31, Twelve Months Ended December 31, (in thousands, except per share data) 2024 2023 2024 2023 Numerator Net income (loss) attributable to AdaptHealth Corp. $ 50,262 $ (254,503) $ 90,422 $ (678,895) Less: Earnings allocated to participating securi