CHARLOTTE, N.C.--(BUSINESS WIRE)--Premier, Inc. (NASDAQ: PINC), a leading technology-driven healthcare improvement company, has named Bruce Radcliff President of Supply Chain Services. ...

Summary of Conference Call Company Overview - **Company Name**: Premier Inc. - **Industry**: Healthcare performance improvement - **Market Capitalization**: Approximately $2 billion - **Annual Revenue**: About $1 billion - **Dividend Yield**: Approximately 3% to 4% - **Business Segments**: - Supply Chain Services: Over 60% - Performance Services: Less than 40% [2][3] Key Financial Metrics - **EBITDA Margin**: Mid-20% with expectations for improvement [3] - **Employee Count**: Approximately 2,700 globally [3] - **Purchasing Spend**: $87 billion managed through contracts [3] - **Health Systems Served**: About 4,300 across 300,000 sites [3] - **Data Points**: Access to around 100 billion data points from nearly half of U.S. hospital discharges [3] Strategic Insights - **Recent Developments**: The company is aware of market speculation regarding potential interest from other parties but refrains from commenting on rumors [5] - **Strategic Alternatives Review**: Conducted 18 months ago, resulting in divestitures of non-core assets and significant share buybacks [5] - **Future Outlook**: The company is at an inflection point, expecting better performance moving into 2026 and beyond [6] Supply Chain Services - **Growth Dynamics**: Gross administrative fees have been growing at 3% to 4%, with significant growth in pharmacy, food, and med-surg portfolios [11] - **Contract Penetration**: Approximately 60% for acute, 30% for non-acute, and 10% for non-healthcare [11] - **New Member Contributions**: About 90% of growth is driven by existing members, with new members contributing significantly [12] - **Fee Share Dynamics**: The company is restructuring contracts with larger members, which has been a headwind but is expected to stabilize by fiscal year 2026 [12][20] Performance Services - **Advisory Business Growth**: The advisory segment is expected to grow by at least 25% in fiscal year 2026, driven by large contract wins [31] - **Contract Size**: Recent contracts are among the largest in recent history, with expectations of significant revenue contributions [30][31] - **EBITDA Margin Expectations**: Long-term expectations for advisory services to reach around 30% EBITDA margins [35] Capital Deployment Strategy - **Share Repurchase Program**: The company plans to pause share repurchases to focus on organic growth and potential acquisitions [60] - **Free Cash Flow**: Anticipated to improve significantly due to the end of tax receivable payments, providing an additional $100 million in free cash flow [62][68] - **Acquisition Opportunities**: The company is in a strong position to pursue accretive acquisitions without needing to raise additional capital [63] Risk Management - **Contractual Guarantees**: New risk language in contracts reflects a proactive approach to assure savings for members, backed by a strong historical performance track record [50][54] Conclusion - **Growth Expectations**: The company aims to return to growth in fiscal year 2027, with a focus on improving performance across all segments and stabilizing fee share dynamics [45][46]

Jim Momtazee's Patient Square Capital is exploring a deal for health-care services company Premier Inc. https://t.co/AD7F138nBK ...

CSE:NFOTCQX:NFUNFVANCOUVER, BC, Aug. 29, 2025 /PRNewswire/ - Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") announces that, in connection with the statutory plan of arrangement (the "Plan of Arrangement") involving Nuclear Fuels and Premier American Uranium Inc. ("PUR" or "Premier American Uranium")(TSXV: PUR, OTCQB: PAUIF) and further to the news releases dated August 13, 2025 and August 19, 2025, the parties have agreed to extend the closing date of the Plan of Arrangement ...

SUSSEX, Wis., Aug. 21, 2025 /PRNewswire/ -- Quad/Graphics, Inc. (NYSE: QUAD) ("Quad" or the "Company"), a marketing experience company that solves complex marketing challenges for its clients, today announced it is adding Flagstar Bank, one of the largest regional lenders in the country, to its bank group. With this addition, the aggregate outstanding principal amount of the Company's Term Loan A was increased by $20 million to $371 million, and its revolving credit availability was increased by $15 million ...

Executive Summary & Highlights [Fiscal-Year 2025 Fourth Quarter Highlights](index=1&type=section&id=Fiscal-Year%202025%20Fourth%20Quarter%20Highlights) Premier's Q4 FY2025 total net revenue decreased 12% year-over-year, with net income and Adjusted EBITDA also declining Fiscal-Year 2025 Fourth Quarter Highlights (in millions of USD) | Metric | FY2025 Q4 | FY2024 Q4 | % Change (YoY) | % Change (QoQ) | | :-------------------------------- | :-------- | :-------- | :-------------- | :-------------- | | Total Net Revenue | $262.9 | $300.2 | (12%) | 1% | | Net Income from Continuing Operations | $18.0 | $60.9 | (70%) | N/A | | Diluted EPS from Continuing Operations | $0.22 | $0.57 | (61%) | N/A | | Adjusted EBITDA | $68.9 | $104.0 | (34%) | (4%) | | Adjusted EPS | $0.43 | $0.61 | (30%) | (2%) | - Fourth-quarter total net revenue of **$262.9 million** (or **$258.0 million** excluding Contigo Health) exceeded company expectations[4](index=4&type=chunk) - Fourth-quarter adjusted EPS of **$0.46** (excluding Contigo Health) contributed to full-year adjusted EPS above the high end of guidance[4](index=4&type=chunk) [Fiscal-Year 2025 Full-Year Highlights](index=1&type=section&id=Fiscal-Year%202025%20Full-Year%20Highlights) For FY2025, Premier's overall revenue and profitability exceeded expectations, driven by Supply Chain Services, with strong cash flow Fiscal-Year 2025 Full-Year Highlights (in millions of USD) | Metric | FY2025 | FY2024 | % Change (YoY) | | :-------------------------------- | :------- | :------- | :-------------- | | Total Net Revenue | $1,012.6 | $1,136.0 | (11%) | | Net Income from Continuing Operations | $72.7 | $104.2 | (30%) | | Diluted EPS from Continuing Operations | $0.68 | $1.02 | (33%) | | Adjusted EBITDA | $253.1 | $389.0 | (35%) | | Adjusted EPS | $1.46 | $2.08 | (30%) | | Net Cash Provided by Operating Activities (Continuing Operations) | $417.8 | $278.1 | 50% | | Free Cash Flow | $180.5 | $228.0 | (21%) | - Full-year net cash provided by operating activities from continuing operations of **$417.8 million** and free cash flow of **$180.5 million** were better than anticipated[4](index=4&type=chunk) [CEO Commentary & Strategic Updates](index=1&type=section&id=CEO%20Commentary%20%26%20Strategic%20Updates) The CEO highlighted strong year-end performance, exceeding expectations due to Supply Chain Services, returning capital, and divesting businesses - Overall revenue and profitability for the year exceeded expectations, largely due to better-than-anticipated results in the **Supply Chain Services segment**[3](index=3&type=chunk) - The company returned capital to stockholders through quarterly cash dividends and completed a **$200 million** accelerated share repurchase program[3](index=3&type=chunk) - Premier divested the **S2S Global direct sourcing business** on October 1, 2024[3](index=3&type=chunk) - Efforts to transfer to partners or wind down certain components of the **Contigo Health business** are ongoing, with results continuing to include contributions from this business[3](index=3&type=chunk) Consolidated Financial Results (Continuing Operations) [GAAP Financial Highlights](index=2&type=section&id=GAAP%20Financial%20Highlights) Premier's GAAP results for Q4 and full-year FY2025 show declines in net revenue, net income, and diluted EPS Three Months Ended June 30, 2025 vs 2024 (GAAP, in thousands of USD) | Metric | 2025 (in thousands of USD) | 2024 (in thousands of USD) | % Change | | :------------------------------------------------- | :------------------ | :------------------ | :------- | | Net revenue | $262,857 | $300,246 | (12%) | | Supply Chain Services: Net administrative fees | $150,052 | $166,146 | (10%) | | Supply Chain Services: Software licenses, other services and support | $19,948 | $18,262 | 9% | | Total Supply Chain Services | $170,000 | $184,408 | (8%) | | Performance Services | $92,857 | $115,838 | (20%) | | Net income from continuing operations | $18,018 | $60,861 | (70%) | | Diluted earnings per share from continuing operations | $0.22 | $0.57 | (61%) | Year Ended June 30, 2025 vs 2024 (GAAP, in thousands of USD) | Metric | 2025 (in thousands of USD) | 2024 (in thousands of USD) | % Change | | :------------------------------------------------- | :------------------ | :------------------ | :------- | | Net revenue | $1,012,647 | $1,136,009 | (11%) | | Supply Chain Services: Net administrative fees | $556,328 | $624,168 | (11%) | | Supply Chain Services: Software licenses, other services and support | $74,711 | $65,200 | 15% | | Total Supply Chain Services | $631,039 | $689,368 | (8%) | | Performance Services | $381,608 | $446,641 | (15%) | | Net income from continuing operations | $72,734 | $104,219 | (30%) | | Diluted earnings per share from continuing operations | $0.68 | $1.02 | (33%) | [Non-GAAP Financial Highlights](index=2&type=section&id=Non-GAAP%20Financial%20Highlights) Non-GAAP measures, including Adjusted EBITDA and Adjusted EPS, experienced significant year-over-year decreases for Q4 and FY2025 Three Months Ended June 30, 2025 vs 2024 (Non-GAAP, in thousands of USD) | Metric | 2025 (in thousands of USD) | 2024 (in thousands of USD) | % Change | | :-------------------------------- | :------------------ | :------------------ | :------- | | Adjusted EBITDA | $68,856 | $104,013 | (34%) | | Adjusted EBITDA excluding Contigo Health | $71,108 | $106,045 | (33%) | | Adjusted net income | $35,743 | $64,482 | (45%) | | Adjusted EPS | $0.43 | $0.61 | (30%) | | Adjusted EPS excluding Contigo Health | $0.46 | $0.64 | (28%) | Year Ended June 30, 2025 vs 2024 (Non-GAAP, in thousands of USD) | Metric | 2025 (in thousands of USD) | 2024 (in thousands of USD) | % Change | | :-------------------------------- | :------------------ | :------------------ | :------- | | Adjusted EBITDA | $253,120 | $388,985 | (35%) | | Adjusted EBITDA excluding Contigo Health | $260,435 | $396,191 | (34%) | | Adjusted net income | $133,752 | $237,846 | (44%) | | Adjusted EPS | $1.46 | $2.08 | (30%) | | Adjusted EPS excluding Contigo Health | $1.54 | $2.17 | (29%) | Fiscal-Year 2026 Guidance [Key Guidance Metrics](index=3&type=section&id=Key%20Guidance%20Metrics) Premier projects FY2026 total net revenue (excluding Contigo Health) between $940 million and $1 billion, with Adjusted EBITDA of $230-245 million Fiscal-Year 2026 Guidance Range (as of August 19, 2025, in millions of USD) | Guidance Metric | Range | | :-------------------------------- | :-------------------- | | Supply Chain Services Net Revenue | $590 million to $620 million | | Performance Services Net Revenue Excluding Contigo Health | $350 million to $380 million | | Total Net Revenue Excluding Contigo Health | $940 million to $1 billion | | Adjusted EBITDA | $230 million to $245 million | | Adjusted Net Income | $110 million to $120 million | | Adjusted EPS | $1.33 to $1.43 | | Diluted Weighted Average Shares | 81 million to 83 million | [Key Assumptions](index=3&type=section&id=Key%20Assumptions) FY2026 guidance relies on specific revenue targets for Supply Chain Services, $80 million in capital expenditures, and a 23-25% effective income tax rate - Net administrative fees revenue of **$520 million to $540 million**, including **$65 million to $75 million** from non-healthcare member purchasing[13](index=13&type=chunk) - Supply Chain Services segment software licenses, other services and support revenue of **$70 million to $80 million**[13](index=13&type=chunk) - Capital expenditures of approximately **$80 million**[13](index=13&type=chunk) - Effective income tax rate in the range of **23% to 25%**, with a cash income tax rate of less than **5%**[13](index=13&type=chunk) - Free cash flow conversion of **70% to 80%** of adjusted EBITDA[13](index=13&type=chunk) - Guidance excludes financial contributions from Contigo Health, as its remaining operations are expected to be transitioned or wound down by **December 31, 2025**[13](index=13&type=chunk) Results of Operations (Q4 2025 vs Q4 2024) [GAAP Performance Analysis](index=3&type=section&id=GAAP%20Performance%20Analysis) Q4 FY2025 GAAP net revenue decreased 12% year-over-year, with net income from continuing operations falling 70% due to lower revenue and increased operating expenses - GAAP net revenue decreased **12%** to **$262.9 million** from **$300.2 million** in the prior-year period[9](index=9&type=chunk) - GAAP net income from continuing operations decreased by **$42.8 million (70%)** to **$18.0 million**, primarily due to lower net revenue and increased operating expenses (stock-based compensation, asset impairments)[10](index=10&type=chunk) - GAAP diluted EPS from continuing operations decreased by **$0.35** to **$0.22**, driven by lower net income, partially offset by a decrease in diluted weighted average shares outstanding due to share repurchases[11](index=11&type=chunk) [Non-GAAP Performance Analysis](index=3&type=section&id=Non-GAAP%20Performance%20Analysis) Q4 FY2025 Adjusted EBITDA decreased 34% year-over-year, with Adjusted net income declining 45% and Adjusted EPS decreasing 30% - Adjusted EBITDA decreased **34%** to **$68.9 million** from **$104.0 million** in the prior-year period[12](index=12&type=chunk) - Adjusted net income decreased **45%** to **$35.7 million**, primarily due to factors impacting adjusted EBITDA and an increase in interest expense, partially offset by a decrease in the effective income tax rate[13](index=13&type=chunk) - Adjusted EPS decreased **30%** to **$0.43** from **$0.61** in the prior-year period[13](index=13&type=chunk) Segment Results (Q4 2025 vs Q4 2024) [Supply Chain Services](index=4&type=section&id=Supply%20Chain%20Services) The Supply Chain Services segment experienced an 8% decrease in net revenue in Q4 FY2025, primarily due to lower net administrative fees - Supply Chain Services segment net revenue decreased **8%** to **$170.0 million** from **$184.4 million**, largely due to lower net administrative fees revenue[14](index=14&type=chunk) - Net administrative fees revenue decreased **10%** to **$150.1 million**, driven by an expected increase in aggregate blended member fee share, partially offset by growth in member purchasing[15](index=15&type=chunk) - Software licenses, other services and support revenue increased **9%** to **$19.9 million**, driven by new engagements in supply chain co-management and expansion of digital supply chain solutions[16](index=16&type=chunk) - Segment adjusted EBITDA decreased **18%** to **$90.0 million**, mainly due to the decrease in net administrative fees revenue and additional investments in the supply chain co-management business[17](index=17&type=chunk) [Performance Services](index=4&type=section&id=Performance%20Services) The Performance Services segment saw a 20% decrease in net revenue in Q4 FY2025, mainly due to lower consulting business revenue and timing of license revenue - Performance Services segment net revenue decreased **20%** to **$92.9 million** from **$115.8 million**, primarily due to lower consulting business revenue and timing of license revenue[18](index=18&type=chunk) - Segment adjusted EBITDA decreased **48%** to **$17.2 million** from **$32.8 million**, mainly due to the decrease in revenue, partially offset by a decrease in employee-related costs[18](index=18&type=chunk) [Liquidity and Cash Flows](index=4&type=section&id=Liquidity%20and%20Cash%20Flows) As of June 30, 2025, Premier's cash and cash equivalents decreased to $83.7 million, with operating cash flow increasing significantly, but free cash flow declined Liquidity and Cash Flow Summary (Year Ended June 30, in thousands of USD) | Metric | 2025 (in thousands of USD) | 2024 (in thousands of USD) | % Change | | :------------------------------------------------- | :------------------ | :------------------ | :------- | | Cash and cash equivalents (period end) | $83,725 | $125,146 | (33%) | | Revolving credit facility outstanding balance | $280,000 | $1,008 | >100% | | Net cash provided by operating activities from continuing operations | $417,809 | $278,143 | 50% | | Net cash used in investing activities | $(102,095) | $(68,466) | (49%) | | Net cash used in financing activities | $(340,733) | $(192,720) | (77%) | | Non-GAAP free cash flow | $180,529 | $228,046 | (21%) | - Net cash provided by operating activities from continuing operations increased to **$417.8 million**, mainly due to lower cash taxes paid in the prior year, a **$57.0 million** derivative lawsuit settlement, and a **$17.6 million** cash distribution from a minority investment[20](index=20&type=chunk) - Net cash used in investing activities increased to **$102.1 million**, primarily due to the acquisition of IllumiCare, Inc., partially offset by net cash from asset sales[21](index=21&type=chunk) - Net cash used in financing activities increased to **$340.7 million**, largely due to the timing of net cash proceeds from the sale of non-healthcare GPO operations received in the prior year, offset by current-year net borrowings and decreased cash dividends[22](index=22&type=chunk) [Return of Capital to Stockholders](index=5&type=section&id=Return%20of%20Capital%20to%20Stockholders) Premier completed $800.0 million in common stock repurchases, including a $200.0 million accelerated share repurchase program, and paid $77.4 million in dividends - Repurchased an aggregate of **$800.0 million** of Common Stock under the Share Repurchase Authorization, which expired on **June 30, 2025**[24](index=24&type=chunk) - Completed a **$200.0 million** accelerated share repurchase program in **August 2025**[24](index=24&type=chunk) - Paid aggregate dividends of **$77.4 million** to holders of Common Stock during fiscal-year 2025[25](index=25&type=chunk) - Declared a quarterly cash dividend of **$0.21 per share**, payable on **September 15, 2025**[25](index=25&type=chunk) Company Information & Non-GAAP Measures [About Premier, Inc.](index=5&type=section&id=About%20Premier%2C%20Inc.) Premier, Inc. is a technology-driven healthcare improvement company providing solutions to two-thirds of U.S. healthcare providers - Premier, Inc. is a leading technology-driven healthcare improvement company[28](index=28&type=chunk) - Provides solutions to **two-thirds** of all healthcare providers in the U.S[28](index=28&type=chunk) - Offers integrated data and analytics, collaboratives, supply chain solutions, and consulting services[28](index=28&type=chunk) [Premier's Use and Definitions of Non-GAAP Measures](index=5&type=section&id=Premier%27s%20Use%20and%20Definitions%20of%20Non-GAAP%20Measures) Premier uses non-GAAP measures like Adjusted EBITDA and Free Cash Flow for consistent performance comparison, with definitions revised in FY2025 - Non-GAAP measures (EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Free Cash Flow) are used to compare operating performance consistently and provide a more complete understanding of business factors and trends[29](index=29&type=chunk) - Adjusted EBITDA and segment adjusted EBITDA definitions were revised to exclude operating income from revenues sold to OMNIA[44](index=44&type=chunk) - Adjusted net income definition was revised to exclude operating income from revenues sold to OMNIA, imputed interest expense, and associated income tax expense[44](index=44&type=chunk) - Free cash flow definition was revised to exclude cash payments to OMNIA for the sale of future revenues and related tax payments[44](index=44&type=chunk) - Supplemental non-GAAP measures (e.g., excluding Contigo Health) are provided to align with FY2025 guidance, given the expected transition or wind-down of Contigo Health by **December 31, 2025**[45](index=45&type=chunk) [Premier's Use of Forward-Looking Non-GAAP Measures](index=7&type=section&id=Premier%27s%20Use%20of%20Forward-Looking%20Non-GAAP%20Measures) Premier does not fully reconcile forward-looking non-GAAP guidance to GAAP due to estimation difficulties for non-core items, and excludes Contigo Health contributions - The company does not meaningfully reconcile forward-looking non-GAAP guidance to GAAP measures due to the inability to reasonably estimate certain significant reconciling items without unreasonable effort[47](index=47&type=chunk) - Forward-looking guidance excludes financial contributions from Contigo Health, as its remaining businesses are expected to be substantially transitioned or wound down by **December 31, 2025**[48](index=48&type=chunk) [Cautionary Note Regarding Forward-Looking Statements](index=7&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) The report contains forward-looking statements subject to risks and uncertainties, and readers should not place undue reliance on them - Statements regarding future financial performance, business strategies, Contigo Health transition, share repurchases, and dividends are forward-looking and subject to risks and uncertainties[49](index=49&type=chunk) - Readers should not place undue reliance on forward-looking statements, as actual results may differ materially[50](index=50&type=chunk) - Premier undertakes no obligation to publicly update or revise any forward-looking statements[50](index=50&type=chunk) Financial Statements [Consolidated Statements of Income](index=9&type=section&id=Consolidated%20Statements%20of%20Income) The Consolidated Statements of Income detail Premier's revenues, costs, operating expenses, and net income for Q4 and full-year FY2025 and FY2024 Consolidated Statements of Income (Selected Data, in thousands of USD, except per share data) | Metric | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :------------------------------------------------- | :------ | :------ | :------ | :------ | | Net revenue | $262,857 | $300,246 | $1,012,647 | $1,136,009 | | Gross profit | $198,564 | $231,819 | $743,359 | $867,124 | | Operating income | $24,864 | $82,981 | $1,116 | $126,646 | | Net income from continuing operations | $18,018 | $60,861 | $72,734 | $104,219 | | Net income attributable to stockholders | $18,435 | $60,676 | $20,269 | $119,544 | | Diluted earnings per share from continuing operations | $0.22 | $0.57 | $0.68 | $1.02 | [Consolidated Balance Sheets](index=10&type=section&id=Consolidated%20Balance%20Sheets) The Consolidated Balance Sheets present Premier's financial position as of June 30, 2025, and 2024, detailing assets, liabilities, and stockholders' equity Consolidated Balance Sheets (Selected Data, in thousands of USD) | Metric | June 30, 2025 | June 30, 2024 | | :-------------------------------- | :------------ | :------------ | | Cash and cash equivalents | $83,725 | $125,146 | | Total current assets | $585,803 | $755,257 | | Total assets | $3,097,074 | $3,401,449 | | Total current liabilities | $910,633 | $746,563 | | Total liabilities | $1,566,497 | $1,439,218 | | Total stockholders' equity | $1,530,577 | $1,962,231 | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) The Consolidated Statements of Cash Flows outline Premier's cash generated and used by operating, investing, and financing activities for FY2025 and FY2024 Consolidated Statements of Cash Flows (Selected Data, in thousands of USD) | Metric | FY 2025 | FY 2024 | | :------------------------------------------------- | :------ | :------ | | Net cash provided by operating activities | $401,429 | $296,560 | | Net cash used in investing activities | $(102,095) | $(68,466) | | Net cash used in financing activities | $(340,733) | $(192,720) | | Net (decrease) increase in cash and cash equivalents | $(41,421) | $35,353 | | Cash and cash equivalents at end of period | $83,725 | $125,146 | Supplemental Financial Information & Reconciliations [Free Cash Flow Reconciliation](index=12&type=section&id=Free%20Cash%20Flow%20Reconciliation) This section reconciles net cash provided by operating activities from continuing operations to free cash flow, detailing key adjustments Reconciliation of Net Cash Provided by Operating Activities from Continuing Operations to Free Cash Flow (in thousands of USD) | Metric | FY 2025 | FY 2024 | | :------------------------------------------------- | :------ | :------ | | Net cash provided by operating activities from continuing operations | $417,809 | $278,143 | | Early termination payments to certain former limited partners | $(101,524) | $(99,665) | | Purchases of property and equipment | $(82,649) | $(81,189) | | Cash payments to OMNIA for the sale of future revenues | $(53,107) | $(31,535) | | Cash tax payments on proceeds received from the sale of future revenues | — | $162,292 | | Free cash flow | $180,529 | $228,046 | - Early termination payments to former limited partners were paid in full by **June 30, 2025**[59](index=59&type=chunk) [Adjusted EBITDA Reconciliation](index=13&type=section&id=Adjusted%20EBITDA%20Reconciliation) This reconciliation details adjustments from net income from continuing operations to Adjusted EBITDA, including various non-cash and non-recurring items, and provides segment-level Adjusted EBITDA Reconciliation of Net Income from Continuing Operations to Adjusted EBITDA (in thousands of USD) | Metric | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :------------------------------------------------- | :------ | :------ | :------ | :------ | | Net income from continuing operations | $18,018 | $60,861 | $72,734 | $104,219 | | EBITDA | $60,957 | $117,087 | $232,903 | $275,937 | | Stock-based compensation | $7,669 | $205 | $23,700 | $23,876 | | Impairment of assets | $10,810 | — | $144,481 | $140,053 | | Operating income from revenues sold to OMNIA | $(16,840) | $(15,624) | $(62,469) | $(55,283) | | Adjusted EBITDA | $68,856 | $104,013 | $253,120 | $388,985 | | Adjusted EBITDA excluding Contigo Health | $71,108 | $106,045 | $260,435 | $396,191 | Segment Adjusted EBITDA (in thousands of USD) | Segment | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :-------------------- | :------ | :------ | :------ | :------ | | Supply Chain Services | $89,986 | $109,617 | $326,902 | $409,669 | | Performance Services | $17,170 | $32,820 | $60,692 | $113,845 | | Corporate | $(38,300) | $(38,424) | $(134,474) | $(134,529) | | Total Adjusted EBITDA | $68,856 | $104,013 | $253,120 | $388,985 | [Adjusted Net Income Reconciliation](index=13&type=section&id=Adjusted%20Net%20Income%20Reconciliation) This section reconciles net income attributable to stockholders to adjusted net income by adjusting for various non-recurring and non-operating items Reconciliation of Net Income Attributable to Stockholders to Adjusted Net Income (in thousands of USD) | Metric | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :------------------------------------------------- | :------ | :------ | :------ | :------ | | Net income attributable to stockholders | $18,435 | $60,676 | $20,269 | $119,544 | | Net loss (income) from discontinued operations, net of tax | $137 | $256 | $41,901 | $(2,500) | | Income tax expense | $7,083 | $25,723 | $25,315 | $42,302 | | Amortization of purchased intangible assets | $9,499 | $9,794 | $38,189 | $47,026 | | Stock-based compensation | $7,669 | $205 | $23,700 | $23,876 | | Impairment of assets | $10,810 | — | $144,481 | $140,053 | | Operating income from revenues sold to OMNIA | $(16,840) | $(15,624) | $(62,469) | $(55,283) | | Adjusted income before income taxes | $47,030 | $88,331 | $175,989 | $325,816 | | Income tax expense on adjusted income before income taxes | $11,287 | $23,849 | $42,237 | $87,970 | | Adjusted net income | $35,743 | $64,482 | $133,752 | $237,846 | [Adjusted EPS Reconciliation](index=15&type=section&id=Adjusted%20EPS%20Reconciliation) This reconciliation details adjustments from GAAP EPS to Adjusted EPS, accounting for various non-recurring and non-operating items, corporate taxes, and dilutive shares Reconciliation of GAAP EPS to Adjusted EPS (in thousands of USD, except per share data) | Metric | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :------------------------------------------------- | :------ | :------ | :------ | :------ | | Net income attributable to stockholders | $18,435 | $60,676 | $20,269 | $119,544 | | Adjusted net income | $35,743 | $64,482 | $133,752 | $237,846 | | Basic earnings per share attributable to stockholders | $0.22 | $0.58 | $0.22 | $1.05 | | Adjusted earnings per share | $0.43 | $0.61 | $1.46 | $2.08 | | Adjusted earnings per share excluding Contigo Health | $0.46 | $0.64 | $1.54 | $2.17 | [Contigo Health Adjustments Reconciliation](index=16&type=section&id=Contigo%20Health%20Adjustments%20Reconciliation) This section reconciles net revenue, Adjusted EBITDA, and Adjusted EPS to exclude Contigo Health's financial contributions, providing a clearer view of continuing operations Reconciliation of Certain Financial Measures to Adjust for Contigo Health (in thousands of USD, except per share data) | Metric | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :-------------------------------- | :------ | :------ | :------ | :------ | | Net revenue | $262,857 | $300,246 | $1,012,647 | $1,136,009 | | Less: Contigo Health | $(4,885) | $(8,585) | $(26,694) | $(39,846) | | Net revenue excluding Contigo Health | $257,972 | $291,661 | $985,953 | $1,096,163 | | Adjusted EBITDA | $68,856 | $104,013 | $253,120 | $388,985 | | Add: Loss from Contigo Health | $2,252 | $2,032 | $7,315 | $7,206 | | Adjusted EBITDA excluding Contigo Health | $71,108 | $106,045 | $260,435 | $396,191 | | Adjusted EPS | $0.43 | $0.61 | $1.46 | $2.08 | | Add: Loss from Contigo Health | $0.03 | $0.03 | $0.08 | $0.09 | | Adjusted EPS excluding Contigo Health | $0.46 | $0.64 | $1.54 | $2.17 |

Core Insights - Premier, Inc. reported a revenue of $262.86 million for the quarter ended June 2025, which is a 25% decrease compared to the same period last year, while EPS was $0.46, down from $0.69 year-over-year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $242.42 million by 8.43%, and the EPS also surpassed the consensus estimate of $0.34 by 35.29% [1] Financial Performance Metrics - Net Revenue from Supply Chain Services for Software licenses and other services was $19.95 million, exceeding the average estimate of $17.24 million [4] - Net Revenue from Performance Services was $92.86 million, compared to the average estimate of $87.13 million, representing a year-over-year decline of 22.9% [4] - Total Net Revenue from Supply Chain Services was $170 million, surpassing the estimated $155.56 million, but reflecting a 26.1% decrease from the previous year [4] - Net administrative fees from Supply Chain Services were reported at $150.05 million, above the average estimate of $138.33 million, with a year-over-year change of -9.3% [4] - Adjusted EBITDA for Supply Chain Services was $89.99 million, exceeding the average estimate of $81.52 million [4] - Adjusted EBITDA for Performance Services was $17.17 million, compared to the average estimate of $15.87 million [4] - Corporate Adjusted EBITDA was reported at -$38.3 million, worse than the average estimate of -$33.22 million [4] Stock Performance - Shares of Premier have returned +16.7% over the past month, outperforming the Zacks S&P 500 composite's +2.5% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - Total full year revenue reached $986 million, exceeding guidance by $11 million, while adjusted EPS was $1.54, surpassing the high end of guidance by $0.11 [14][15] - Fourth quarter net revenue was $258 million, a 1% increase sequentially but a decline from the prior year due to higher fee share from contract renewals [14][15] - GAAP net income was $18 million or $0.22 per share, down from the prior year mainly due to lower revenue [15] - Adjusted EBITDA for the fourth quarter was $71 million, flat sequentially, with a margin of 27.6% [15] Business Line Data and Key Metrics Changes - Supply Chain Services segment performed above expectations, with gross administrative fees growing over 3% in fiscal year 2025, driven by higher contract penetration and onboarding of new members [16][17] - Performance Services segment showed sequential improvement in advisory business, although it was lower compared to the prior year due to rebuilding the sales funnel [18] - Other supply chain services revenue grew by 17% in the co-management business and 15% in the digital supply chain business [17] Market Data and Key Metrics Changes - The company noted increasing demand for margin improvement solutions among member hospitals due to ongoing cost pressures and reimbursement uncertainty [11][12] - The acquisition of Illumicare is expected to enhance the company's ability to deliver real-time insights and expand its addressable market [10][49] Company Strategy and Development Direction - The company is focused on helping health systems transition from short-term cost containment to structural changes that enhance operational resilience [8][9] - The acquisition of Illumicare is part of a strategy to strengthen clinical decision support capabilities and leverage AI for better healthcare outcomes [10][49] - The company anticipates returning to positive growth in total net revenue, adjusted EBITDA, and adjusted EPS in fiscal year 2027 [22][24] Management Comments on Operating Environment and Future Outlook - Management highlighted ongoing financial pressures for member hospitals and the need for value-based strategic support [7][8] - The company expects fiscal year 2026 to be a year of stabilization and transition, with a return to growth anticipated in fiscal year 2027 [21][22] - Management expressed confidence in the ability to drive growth due to the strength of the business and the commitment of the team [12][24] Other Important Information - Free cash flow for fiscal year 2025 was $181 million, with a conversion rate of 69%, and is expected to be in the range of 70% to 80% for fiscal year 2026 [19][20] - The company completed a $200 million accelerated share repurchase program, bringing total repurchases to $800 million under a $1 billion authorization [15][20] Q&A Session Summary Question: Changes in customer buying behavior in Supply Chain Services - Management noted no significant pull forward in buying behavior due to tariffs, with some increases attributed to regional issues [26][27] Question: Momentum in the advisory business - The advisory business is driven by market dynamics and the expertise of the newly hired leadership, with recent large engagements contributing to growth [28][30] Question: Cadence of admin fee renewal and growth assumptions - Management expects fee share to increase to the mid-60% range in fiscal year 2026, with broad-based growth across key categories [36][38] Question: Size and impact of Illumicare acquisition - Illumicare is projected to generate $8 million to $10 million in revenue for fiscal year 2026, with breakeven EBITDA [49][50] Question: Advisory business growth visibility - Advisory business is expected to grow above 25% in fiscal year 2026, largely driven by recent large contracts [61][62] Question: Free cash flow guidance and TRA impact - The TRA benefit is included in free cash flow guidance, with expectations for improved cash flow in fiscal year 2026 [66][67] Question: Demand for technology post July 4 - There remains strong interest in clinical decision support capabilities, with technology driving demand for performance improvement [93][97] Question: Unique advisory contracts and differences from consulting - Advisory engagements focus on comprehensive performance improvement strategies, with consulting and advisory viewed as interchangeable terms [104][106] Question: Life sciences or pharma support business updates - The life sciences business is performing as expected, with growth opportunities anticipated moving forward [107][108]

Financial Data and Key Metrics Changes - Total full year revenue reached $986 million, exceeding guidance by $11 million, while adjusted EPS was $1.54, surpassing the high end of guidance by $0.11 [13][14] - Fourth quarter net revenue was $258 million, a 1% increase sequentially but a decline from the prior year due to higher fee share from contract renewals [13][14] - Adjusted EBITDA for the fourth quarter was $71 million, translating to a margin of 27.6%, benefiting from revenue outperformance in Supply Chain Services [14] Business Line Data and Key Metrics Changes - Supply Chain Services segment performed above expectations, with gross administrative fees growing over 3% in fiscal year 2025, driven by higher contract penetration and onboarding of new members [15][16] - Performance Services segment showed sequential improvement in advisory business, although it was lower compared to the prior year as the sales funnel is being rebuilt [17] - Other supply chain services revenue grew by 17% in the co-management business and 15% in the digital supply chain business, indicating growth opportunities for fiscal year 2026 and beyond [16][17] Market Data and Key Metrics Changes - The company noted increasing financial pressures on member hospitals and health systems, leading to a demand for value-based strategic support [6][10] - The acquisition of Illumicare is expected to enhance the company's ability to deliver real-time insights and expand its addressable market [8][20] Company Strategy and Development Direction - The company is focused on helping health systems transition from short-term cost containment to structural changes that enhance operational resilience [6][10] - The acquisition of Illumicare is part of a strategy to strengthen clinical decision support capabilities and leverage AI for better healthcare outcomes [8][20] - The company anticipates a stabilization year in fiscal year 2026, with a return to growth in key financial metrics expected in fiscal year 2027 [21][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive growth, citing a robust pipeline of advisory business and strategic engagements [7][11] - The company expects free cash flow conversion in fiscal year 2026 to be in the range of 70% to 80%, with a cash tax rate anticipated to be less than 5% over the next five years [18][19] - Management highlighted the importance of addressing contract renewals and the anticipated increase in fee share to the mid-60% range in fiscal year 2026 [16][36] Other Important Information - The company completed a $200 million accelerated share repurchase program, bringing total stock repurchases to $800 million under a $1 billion authorization [14][19] - The company is winding down the Contigo Health assets, with expected revenue of $9 million and an EBITDA loss of $6 million in fiscal year 2026 [49] Q&A Session Summary Question: Changes in customer buying behavior in Supply Chain Services - Management noted no significant pull forward in buying behavior due to tariffs, with some regional increases observed [25] Question: Momentum in the advisory business - The advisory business is driven by market dynamics and the expertise of the newly hired leadership, with significant recent contract wins [26][30] Question: Cadence of admin fee renewal and growth assumptions - Management expects a gradual increase in fee share throughout fiscal year 2026, with gross administrative fees anticipated to grow around 4% [35][36] Question: Size and impact of Illumicare acquisition - Illumicare is projected to generate $8 million to $10 million in revenue for fiscal year 2026, breakeven on EBITDA, and is expected to drive future growth [48] Question: Advisory business size and growth visibility - The advisory business is estimated to be between $50 million to $100 million, with expectations of over 25% growth in fiscal year 2026 driven by recent large contracts [58][60] Question: Free cash flow guidance and TRA impact - The TRA benefit is included in free cash flow guidance, with expectations for improved cash flow in fiscal year 2026 due to the absence of the $100 million headwind [64][66] Question: Demand changes post July 4 and SaaS offerings - There remains significant interest in clinical decision support capabilities, with ongoing demand for technology that drives performance improvement [90][92]

Fiscal Year 2025 Performance - Consolidated net revenue for Q4 FY25 was $262.9 million[13] - Supply Chain Services net revenue for Q4 FY25 reached $170 million, exceeding expectations[13] - Performance Services net revenue excluding Contigo Health for Q4 FY25 was $88 million, below the implied guidance[13] - Adjusted EBITDA excluding Contigo Health for Q4 FY25 was $71.1 million, surpassing expectations[13] - The company had cash flow from operations of $417.8 million for the fiscal year ended June 30, 2025[16] - Free cash flow was $180.5 million for the fiscal year ended June 30, 2025[17] Capital Allocation - The company repurchased $800 million of Class A common stock under the $1 billion share repurchase authorization[18] - Dividends of $77.4 million were paid to stockholders in fiscal year 2025[18] Fiscal Year 2026 Guidance - Total net revenue excluding Contigo Health is projected to be between $940 million and $1 billion[21] - Supply Chain Services revenue is expected to be between $590 million and $620 million[21] - Performance Services revenue excluding Contigo Health is guided to be between $350 million and $380 million[21]