Option Care Health, Inc. (NASDAQ:OPCH) Q4 2022 Earnings Conference Call February 23, 2022 8:30 AM ET Company Participants Michael Shapiro - CFO & SVP John Rademacher - CEO, President & Director Conference Call Participants David MacDonald - Truist Securities Matthew Larew - William Blair Lisa Gill - JPMorgan Pito Chickering - Deutsche Bank Jamie Perse - Goldman Sachs Joanna Gajuk - Bank of America Operator Hello, and thank you for standing by. Welcome to Option Care Health Fourth Quarter 2022 Earnings Confe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) Commission file number: 001-11993 OPTION CARE HEALTH, INC. (Exact name of registrant as specified in its charter) Delaware 05-0489664 (State of incorporation) (I.R.S. Employer Identification No.) 3000 Lakeside Dr. Suite 300N, Bannockburn, IL 60015 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: Securities registered pursuant to Section 12(b) of the Act: | | | T ...

Option Care Health, Inc. (NASDAQ:OPCH) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET Company Participants Michael Shapiro - CFO & SVP John Rademacher - CEO, President & Director Conference Call Participants Matthew Larew - William Blair Lisa Gill - JPMorgan David MacDonald - Truist Securities Kieran Ryan - Deutsche Bank Joanna Gajuk - Bank of America Jamie Perse - Goldman Sachs Michael Petusky - Barrington Research Operator Good day and thank you for standing by. Welcome to the Option Care He ...

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) This section provides the unaudited condensed consolidated financial statements and related disclosures for the period ended September 30, 2022 [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the period ended September 30, 2022, including balance sheets, statements of comprehensive income, cash flows, and stockholders' equity, along with detailed notes [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section presents the company's financial position as of September 30, 2022, and December 31, 2021 Condensed Consolidated Balance Sheet Highlights (unaudited) | Account | Sep 30, 2022 (in thousands) | Dec 31, 2021 (in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $255,468 | $119,423 | | Total current assets | $951,964 | $710,256 | | Goodwill | $1,533,043 | $1,477,564 | | **Total Assets** | **$3,073,263** | **$2,790,918** | | **Liabilities & Equity** | | | | Accounts payable | $409,737 | $279,246 | | Total current liabilities | $586,800 | $459,695 | | Long-term debt, net | $1,058,606 | $1,059,900 | | **Total Liabilities** | **$1,735,928** | **$1,615,032** | | **Total Stockholders' Equity** | **$1,337,335** | **$1,175,886** | [Unaudited Condensed Consolidated Statements of Comprehensive Income](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) This section details the company's financial performance, including net revenue, gross profit, operating income, and net income for the third quarter and first nine months of 2022 and 2021 Statement of Comprehensive Income Highlights (unaudited, in thousands) | Metric | Q3 2022 | Q3 2021 | Nine Months 2022 | Nine Months 2021 | | :--- | :--- | :--- | :--- | :--- | | **Net Revenue** | **$1,020,918** | **$891,937** | **$2,917,522** | **$2,511,446** | | Gross Profit | $218,001 | $202,968 | $635,837 | $567,409 | | Operating Income | $60,718 | $52,883 | $172,039 | $130,069 | | **Net Income** | **$38,823** | **$35,476** | **$103,027** | **$64,431** | | Net Comprehensive Income | $48,078 | $38,368 | $127,989 | $75,603 | | **EPS, diluted** | **$0.21** | **$0.20** | **$0.57** | **$0.36** | [Unaudited Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section outlines the cash inflows and outflows from operating, investing, and financing activities for the nine months ended September 30, 2022, and 2021 Statement of Cash Flows Highlights (unaudited, in thousands) | Cash Flow Activity | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $224,092 | $143,259 | | Net cash used in investing activities | ($104,426) | ($30,596) | | Net cash provided by (used in) financing activities | $16,379 | ($11,072) | | **Net increase in cash and cash equivalents** | **$136,045** | **$101,591** | | **Cash and cash equivalents - end of period** | **$255,468** | **$200,856** | [Unaudited Condensed Consolidated Statements of Stockholders' Equity](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) This section details the changes in the company's stockholders' equity, including the impact of net income and other comprehensive income - Total stockholders' equity increased from **$1.176 billion** at December 31, 2021, to **$1.337 billion** at September 30, 2022, primarily driven by net income of **$103.0 million** and other comprehensive income of **$25.0 million** during the first nine months of 2022[18](index=18&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and context for the accounting policies, significant transactions, and financial position presented in the consolidated financial statements - The company provides infusion therapy and other ancillary health care services through a national network of 97 full-service pharmacies and 64 stand-alone infusion suites[21](index=21&type=chunk) - In 2022, the company completed the acquisition of Specialty Pharmacy Nursing Network, Inc. (SPNN) for a net purchase price of **$59.9 million** and Rochester Home Infusion, Inc. (RHI) for a net purchase price of **$27.4 million**[35](index=35&type=chunk)[37](index=37&type=chunk) Net Revenue by Payer (in thousands) | Payer Category | Nine Months 2022 | Nine Months 2021 | | :--- | :--- | :--- | | Commercial payers | $2,526,354 | $2,164,678 | | Government payers | $357,383 | $307,067 | | Patients | $33,785 | $39,701 | | **Total Net Revenue** | **$2,917,522** | **$2,511,446** | - As of September 30, 2022, the company had total long-term debt with a net balance of **$1.06 billion**, consisting of a First Lien Term Loan and Senior Notes[56](index=56&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance for the third quarter and first nine months of 2022, covering revenue growth, gross profit, operating expenses, and liquidity [Business Overview](index=24&type=section&id=Business%20Overview) This section provides an overview of the company's operations, including its services and national network of healthcare locations - Option Care Health provides infusion therapy and ancillary healthcare services through a national network of 161 locations across the United States, with services delivered in patients' homes or other non-hospital settings[78](index=78&type=chunk) [Results of Operations](index=26&type=section&id=Results%20of%20Operations) This section analyzes the company's financial results for the third quarter and first nine months of 2022 compared to the prior year, focusing on revenue, gross profit, and net income drivers Q3 2022 vs Q3 2021 Performance (in thousands) | Metric | Q3 2022 | Q3 2021 | Change (%) | | :--- | :--- | :--- | :--- | | Net Revenue | $1,020,918 | $891,937 | +14.5% | | Gross Profit | $218,001 | $202,968 | +7.4% | | Net Income | $38,823 | $35,476 | +9.4% | - Q3 revenue growth was driven by organic growth, with acute revenue showing **mid-single-digit growth** and chronic revenue growing in the **mid-teens**, while acquisitions contributed approximately **2%** to revenue growth[97](index=97&type=chunk) Nine Months 2022 vs Nine Months 2021 Performance (in thousands) | Metric | Nine Months 2022 | Nine Months 2021 | Change (%) | | :--- | :--- | :--- | :--- | | Net Revenue | $2,917,522 | $2,511,446 | +16.2% | | Gross Profit | $635,837 | $567,409 | +12.1% | | Net Income | $103,027 | $64,431 | +59.9% | - For the first nine months of 2022, revenue growth was driven by organic expansion, with chronic revenue growing in the **high-teens**, and gross profit margin declined from **22.6%** to **21.8%** due to inflationary pressures on labor, transportation, and medical supplies[109](index=109&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's cash position, credit facilities, cash flow from operations, and capital allocation strategy, including funding for acquisitions - As of September 30, 2022, the company's primary liquidity sources were **$255.5 million** in cash and **$168.3 million** available under its credit facilities[121](index=121&type=chunk) - Net cash provided by operating activities for the nine months ended September 30, 2022, increased to **$224.1 million** from **$143.3 million** in the prior-year period, driven by higher net income and timing of payments[131](index=131&type=chunk)[132](index=132&type=chunk) - The company views acquisitions as a key part of its growth strategy and may require additional capital to fund future opportunities[123](index=123&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes to its exposure to market risk from the disclosures provided in its Annual Report on Form 10-K for the year ended December 31, 2021 - There have been no material changes to the company's market risk exposure since the 2021 Annual Report on Form 10-K[137](index=137&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of September 30, 2022, with no material changes to internal control over financial reporting - The company's Chief Executive Officer and Chief Financial Officer concluded that disclosure controls and procedures were effective as of September 30, 2022[138](index=138&type=chunk) - There were no changes in internal control over financial reporting during the third quarter of 2022 that materially affected, or are reasonably likely to materially affect, internal controls[139](index=139&type=chunk) [PART II - OTHER INFORMATION](index=37&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) This section covers other important information, including legal proceedings, risk factors, exhibits, and signatures [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings arising in the normal course of business, with management not expecting a material adverse effect on financial condition - For a summary of legal proceedings, the company refers to Note 13, Commitments and Contingencies, of the unaudited condensed consolidated financial statements[142](index=142&type=chunk) - The company does not believe that any pending legal matters will have a material adverse effect on its condensed consolidated balance sheets[69](index=69&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors affecting its business, financial condition, or results of operations from those previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2021 - There have been no material changes to the risk factors from those set forth in the Annual Report on Form 10-K for the year ended December 31, 2021[143](index=143&type=chunk) [Exhibits](index=37&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including amended bylaws and certifications from the CEO and CFO - The exhibits filed with the report include amended bylaws and certifications from the Chief Executive Officer and Chief Financial Officer pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[145](index=145&type=chunk) [Signatures](index=37&type=section&id=SIGNATURES) The Form 10-Q report was officially signed and authorized by Michael Shapiro, the company's Chief Financial Officer, on October 27, 2022 - The report was signed on October 27, 2022, by Michael Shapiro, Chief Financial Officer[149](index=149&type=chunk)

Option Care Health, Inc. (NASDAQ:OPCH) Q2 2022 Earnings Conference Call July 27, 2022 8:30 AM ET Company Participants Michael Shapiro - CFO & SVP John Rademacher - CEO, President & Director Conference Call Participants Lisa Gill - JPMorgan Chase & Co. David MacDonald - Truist Securities Matthew Larew - William Blair & Company Joanna Gajuk - Bank of America Merrill Lynch Philip Chickering - Deutsche Bank Operator Good day, and thank you for standing by. Welcome to the Option Care Health 2022 Earnings Confere ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-11993 OPTION CARE HEALTH, INC. (Exact name of registrant as specified in its charter) Delaware 05-0489664 (State of incorporatio ...

William Blair 42nd Annual Growth Stock Conference June 7, 2022 Disclaimer Forward-Looking Statements This presentation may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," "may," "should," "will" and similar references to future periods. Examples of forward-looking statemen ...

Financial Data and Key Metrics Changes - Revenue growth of 20.6% was driven by solid performance across the portfolio, with acute revenue up in the mid-single digits and chronic revenue growth in the mid-20s [25][26] - Adjusted EBITDA of $77.8 million represented 8.5% of revenue, growing 49% over the prior year [28] - Cash flow from operations was $32.7 million, with cash balances increasing over $145 million at quarter end [29] Business Line Data and Key Metrics Changes - Chronic revenue growth was particularly strong, driven by improved supply chain dynamics and execution across chronic inflammatory therapies [26][13] - Acute revenue growth was modest, reflecting a rebound in referral trends throughout the first quarter [25][60] Market Data and Key Metrics Changes - Referral volumes lagged in certain geographies but showed gradual improvement as the quarter progressed, returning to near-normal levels by the end of March [12][55] - The company experienced unprecedented inflationary pressures across various goods and services, impacting operational costs [14][15] Company Strategy and Development Direction - The company is focused on integrating recent acquisitions, including Wasatch Infusion and Specialty Pharmacy Nursing Networks, to enhance its national clinical platform and expand its market presence [17][19] - Future growth initiatives include building a comprehensive network of infusion suites and enhancing relationships with payers [70][68] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the momentum coming out of the first quarter and raised financial guidance for the year, expecting revenue of $3.75 billion to $3.9 billion [32][34] - The company anticipates continued inflationary pressures impacting margins but remains focused on expanding EBITDA margins [94][95] Other Important Information - The company has a net debt to leverage ratio of 3.0 times, significantly improved from previous years [29] - Management highlighted the importance of maintaining a competitive labor force amidst ongoing labor challenges [16][82] Q&A Session Summary Question: Can you break out growth in the quarter regarding easy comps or supply chain returns? - Management noted that approximately 250 basis points of growth were attributed to recent acquisitions, with underlying growth implying mid-teens growth [38][39] Question: How do you envision incorporating SPNN and Infinity into your operations? - Management emphasized the complementary nature of the acquisitions and their potential to enhance clinical capabilities and market access [40][44] Question: What are the biggest factors affecting gross margin and cost side for the rest of the year? - Management indicated that inflationary pressures and a shift towards a lower gross margin chronic portfolio would impact margins moving forward [93][94] Question: How are you managing labor pressures, particularly in nursing and pharmacy? - Management reported that they have not faced significant capacity constraints and have successfully increased their clinical team size [78][81] Question: What are the key areas of investment over the next 12 to 18 months? - Management highlighted ongoing investments in building out infusion suites and enhancing service lines to meet market demand [70][71] Question: How does the macro environment impact your approach to guidance? - Management stated that they model various scenarios and maintain a conservative approach to guidance amidst a dynamic environment [126][128]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-11993 OPTION CARE HEALTH, INC. (Exact name of registrant as specified in its charter) Delaware 05-0489664 (State of incorporati ...

Reimagining the Infusion Care Experience for Patients, Customers and Employees Fourth Quarter and Full Year 2021 Earnings Release February 23, 2022 Disclaimer Forward-Looking Statements This presentation may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," "may," "should," ...