CORRECTION FROM SOURCE: HEALWELL Reports Record Revenue with 433% Growth in 2024, and Anticipates Closing of Transformational Orion Health Acquisition on April 1, 2025March 26, 2025 12:09 PM EDT | Source: HEALWELL AICorrection from Source: In the previously issued press release this morning, the full year 2024 Adjusted EBITDA loss was inadvertently reported as $1 million. The correct Adjusted EBITDA(1) loss is $16 million. The press release is re-issued below in its entirety with this one corr ...

HEALWELL Reports Record Revenue with 433% Growth in 2024, and Anticipates Closing of Transformational Orion Health Acquisition on April 1, 2025March 26, 2025 9:46 AM EDT | Source: HEALWELL AIHEALWELL achieved record annual revenue from continuing operations of approximately $39 million in fiscal 2024, an increase of 433% compared to fiscal 2023. HEALWELL achieved record quarterly revenue from continuing operations of $15.2 million in Q4-2024, 692% higher than the $1.9 million generated in Q4-2 ...

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Core Viewpoint - HEALWELL AI Inc. has signed a $50 million credit agreement to support the acquisition of Orion Health Holdings Limited, a global healthcare intelligence platform, with a target closing date of April 1, 2025 [2][4][7]. Financing Details - The credit agreement consists of a $20 million term loan and a $30 million revolving credit facility, totaling $50 million, with an additional uncommitted accordion feature of up to $25 million [3][5]. - The company has secured financing arrangements exceeding $100 million, including the recent subscription receipt financings, to facilitate the acquisition [4][5]. Acquisition Process - HEALWELL has initiated the pre-closing reorganization process by delivering a trigger notice under the share purchase agreement for Orion Health and has paid a non-refundable advance of NZD$5 million to the vendor [4][5][6]. - All material conditions precedent for closing the acquisition have been satisfied or waived, except for the successful completion of the pre-closing reorganization and payment of the purchase price [6][7]. Strategic Implications - The acquisition of Orion Health will significantly expand HEALWELL's operational footprint, allowing it to serve a population of approximately 150 million lives globally and deepen its penetration into the public sector [7]. - HEALWELL aims to integrate its AI-driven solutions with Orion Health's advanced healthcare data infrastructure, enhancing its capabilities in early disease detection and preventative care [7][9].

Orion Group Holdings, Inc. (NYSE: ORN ) has a major opportunity for growth in the coming years as the firm further entrenches itself in the construction operations of large-scale data centers for the hyperscalersMichael Del Monte is a buy-side equity analyst with over 5 years of industry experience. Prior to working in the investment management industry, Michael spent over a decade in professional services working in industries that range from O&G, OFS, Midstream, Industrials, Information Technology, EPC Se ...

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Revenue and Financial Performance - In 2024, Orion Group Holdings, Inc. recorded revenues of $796.4 million, an increase of 11.9% compared to $711.8 million in 2023[207]. - The marine segment contributed $521.3 million to total revenue, while the concrete segment accounted for $275.1 million[207]. - The net loss for 2024 was $1.6 million, a significant improvement from a net loss of $17.9 million in the previous year[207]. - Gross profit for 2024 was $91.2 million, representing 11.4% of total contract revenues, compared to 8.7% in 2023[219]. - Selling, General and Administrative (SG&A) expenses increased to $82.5 million in 2024, up 18.9% from $69.4 million in 2023[220]. - Total revenues for the marine segment in 2023 were $395.9 million, an increase of $56.7 million or 16.7% compared to 2022, primarily driven by the Pearl Harbor Project[238]. - The concrete segment's revenues decreased by $93.2 million or 22.8% in 2023, totaling $315.9 million, mainly due to winding down operations in Central Texas[240]. Backlog and Future Prospects - The consolidated backlog at the end of 2024 was $729.1 million, up from $690.5 million at the end of the previous quarter[215]. - The marine segment backlog as of December 31, 2024, was $582.8 million, while the concrete segment backlog was $146.3 million[215]. - The company has $1.2 billion of quoted bids outstanding, with approximately $248 million awarded and pending contract after December 31, 2024[215]. - Long-term demand for services is expected to be driven by infrastructure investments, including the $1.2 trillion Infrastructure Investment and Jobs Act[209]. Operational Challenges - The concrete segment is facing potential delays in new project releases due to inflation, interest rates, and supply chain issues[210]. - The company recorded a $6.9 million intangible asset impairment loss in 2023 due to the rebranding of the concrete segment under the Orion banner, which had previously operated as TAS Concrete Construction since 2015[228]. - Interest expense for the year ended December 31, 2023, was $11.7 million, an increase of $7.2 million from $4.5 million in the prior year, primarily due to an increase in the weighted average interest rate from 6.23% to 12.00%[229]. - The company is subject to inflation effects through increases in the cost of raw materials, including fuel, concrete, and steel[257]. - The company does not hedge against increases in prices for commodity products, which may impact results due to fixed-price contracts[273]. Cash Flow and Capital Management - As of December 31, 2024, the company's working capital was $78.2 million, up from $55.9 million at the end of 2023, with unrestricted cash on hand of $28.3 million[242]. - The company generated approximately $12.7 million from cash in operating activities in 2024, with cash inflows from net income amounting to $34.4 million after adjusting for non-cash items[246]. - Capital asset additions in 2024 were $14.1 million, compared to $8.9 million in 2023 and $14.6 million in 2022[249]. - The company completed a public offering on September 12, 2024, raising net proceeds of approximately $26.4 million, which were used for working capital and repayment of borrowings[244]. - At December 31, 2024, the company had $23.0 million in outstanding borrowings under its Credit Agreement, with a weighted average ending interest rate of 11.65%[277]. - A 100 basis-point increase in SOFR would increase the company's annual interest expense by approximately $0.2 million[277]. Asset Management and Tax Considerations - The company evaluates long-lived assets for impairment based on future cash flows and physical condition[267]. - The company assesses uncertain tax positions based on the likelihood of sustaining them upon settlement with tax authorities[271]. - Revenue is recognized over time for contracts, with progress measured by the percentage of actual contract costs incurred to date[262].

Orion Group Holdings, Inc. (ORN) reported mixed fourth-quarter 2024 results, wherein adjusted earnings topped the Zacks Consensus Estimate and revenues missed the same. However, both metrics increased on a year-over-year basis.See the Zacks Earnings Calendar to stay ahead of market-making news.The company ended 2024 with improved performance, driven by the disciplined execution of strategic objectives. Going forward, ORN remains focused on achieving profitable revenue growth and stronger earnings. The compa ...

Financial Data and Key Metrics Changes - Revenue increased by 12% year over year to $796 million, with gross profit improving by 48% to $91 million [9] - Adjusted EBITDA rose by 76%, and adjusted EBITDA margin increased by 200 basis points to 5.3% [9] - Fourth quarter revenue was up 7.6% to $217 million, with adjusted EBITDA growing by 15.3% to $17.1 million [24][25] - Consolidated fourth quarter gross profit margin increased to $30.3 million or 14% of revenue, up from 11.4% in the same period last year [28] Business Line Data and Key Metrics Changes - Marine revenue increased by 6.5%, while Concrete revenue rose by 9.8% in the fourth quarter [27] - Adjusted EBITDA margin in the Marine segment was 9.2%, and in the Concrete segment, it was 5.3%, consistent with the prior year [31] - The year-end backlog stood at $729 million, with $582.8 million related to the Marine segment and $146.3 million to the Concrete segment [33] Market Data and Key Metrics Changes - The pipeline increased from $3 billion to $16 billion over the past two years, indicating strong market opportunities [12] - The company sees favorable tailwinds in the marine market, particularly in infrastructure projects and energy sector opportunities [14][21] Company Strategy and Development Direction - The company aims to drive sustainable growth and profitability while enhancing operational efficiency [8] - Focus on business development and disciplined execution has led to improved reputation and project wins [12][19] - Plans to grow backlog to realize planned growth in 2026, with a strong emphasis on high-value long-term projects [10][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth opportunities for 2025 and beyond, with no anticipated negative impacts from government spending changes [20][21] - The company is focused on investments to capture and deliver a large volume of projects in its pipeline [21][39] - Key metrics to watch include the increase in backlog, which will indicate future revenue [22] Other Important Information - The company ended the fourth quarter with $28.3 million in cash and total debt outstanding of $23.2 million, maintaining a net cash position [35] - An amendment to the credit agreement was executed, reducing term loan and revolver pricing and extending the maturity date to May 15, 2028 [36] Q&A Session Summary Question: Revenue shortfall in Q4 versus guidance - Management indicated that the revenue shortfall was due to project timing, particularly with the Hawaii project, which has shifted some revenue into 2025 [47][48] Question: Pipeline expansion drivers and bidding environment - The pipeline expansion is driven by increased opportunities in data centers and Navy projects, with a strong bidding environment [51][52] Question: Gross margin drivers and sustainability - The strong gross margin was attributed to better pricing and execution, with expectations for further improvement as sales increase [60][66] Question: CapEx guidance and funding - The incremental CapEx is primarily for acquiring equipment to support upcoming projects, expected to be funded largely from operating cash flow [68][78] Question: Backlog growth cadence in 2025 - Management expects a strong year for backlog growth, with concrete jobs having quicker burn rates compared to marine jobs [71][72]

Orion Marine Group (ORN) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.67%. A quarter ago, it was expected that this heavy civil marine contractor would post earnings of $0.08 per share when it actually produced earnings of $0.16, delivering a surprise of 100%.Over the last four q ...