Core Viewpoint - New Found Gold Corp. has strengthened its management team with key appointments, including Dr. Andrew Furey as an independent director, Hashim Ahmed as CFO, and Robert Assabgui as COO, as the company advances towards production [1][2]. Management Changes - Dr. Andrew Furey, former Premier of Newfoundland and Labrador, has been appointed as an independent director, bringing extensive experience in policy and economic strategy [1][3]. - Hashim Ahmed has been appointed as CFO, with 25 years of experience in financial management and a history of executive roles in the mining industry [1][4][5]. - Robert Assabgui has been appointed as COO, previously serving as Study Manager and having significant experience in project management and engineering within the mining sector [1][6][7]. - Vijay Mehta has stepped down from his role as director, and Michael Kanevsky will assist with the transition [1][2]. Company Background - New Found Gold is an emerging Canadian gold producer with a 100% interest in the Queensway Gold Project located in Newfoundland and Labrador, recognized for its excellent infrastructure and skilled workforce [9]. - The company has completed a Preliminary Economic Assessment (PEA) for the Queensway project, with ongoing drilling revealing new discoveries [9]. - Recent agreements include acquiring shares from Maritime Resources Corp. and a property purchase agreement with Exploits Discovery Corp., which will increase the size of the Queensway project by up to 33%, totaling 234,050 hectares [10]. Shareholder Base - The company has a solid shareholder base, including approximately 23.1% ownership by Eric Sprott, indicating strong investor confidence as it focuses on gold production [11].

Core Viewpoint - Premier American Uranium Inc. and Nuclear Fuels Inc. are progressing with a statutory plan of arrangement, targeting a closing date around September 19, 2025, pending TSX Venture Exchange review [1] Company Overview Premier American Uranium Inc. - Focused on consolidating, exploring, and developing uranium projects in the U.S. to enhance domestic energy security and support the transition to clean energy [2] - Holds extensive land in three key uranium-producing regions: Grants Mineral Belt (New Mexico), Great Divide Basin (Wyoming), and Uravan Mineral Belt (Colorado) [2] - Actively advancing its portfolio through work programs and has strong partnerships with institutional investors [3] Nuclear Fuels Inc. - Engaged in uranium exploration, advancing early-stage ISR amenable uranium projects towards production in the U.S. [4] - Consolidated the Kaycee district under single-company control for the first time since the early 1980s, with a 2025 drill program underway [4] - Aims to expand historic resources across a 35-mile trend, supported by a strategic relationship with enCore Energy Corp. [4]

Company Overview - Commvault is a leading provider of cyber resilience and data protection solutions for the hybrid cloud, helping over 100,000 organizations maintain data safety and business continuity [8] - The company offers a unique cyber resilience platform that integrates data security and rapid recovery across various workloads, achieving the lowest total cost of ownership (TCO) [8] Sponsorship Announcement - Commvault announced its sponsorship of Agustín Tapia, the joint top-ranked male padel player in the world, aiming to enhance the sport's visibility and promote the importance of resilience [1][6] - Tapia, known for his exceptional skills and resilience on the court, is expected to help Commvault reach a broader audience and educate fans about cyber resilience [2][6] Padel Sport Insights - Padel is a rapidly growing sport with 30 million active players in over 130 countries, predominantly in Europe, but also gaining traction in the United States with over 100,000 active players and 175 clubs [5] - The sport combines elements of tennis and squash, played on a smaller court, which allows for strategic play and extended rallies [4] Partnership Goals - The collaboration between Commvault and Tapia aims to bring the excitement of padel to new audiences while emphasizing the significance of readiness and resilience in both sports and business contexts [3][6] - Tapia expressed enthusiasm for the partnership, highlighting the shared values of resilience and preparation that both he and Commvault embody [3]

Core Insights - Align Technology, Inc. is a leading global medical device company specializing in the design, manufacture, and sale of the Invisalign® System, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry [1] Group 1 - The company shared highlights from the 2025 Invisalign® GP Summit, which serves as a premier clinical education and peer-to-peer networking experience aimed at assisting doctors [1]

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 ...

Company Overview - Nuclear Fuels Inc. is a uranium exploration company focused on advancing early-stage, district-scale ISR amenable uranium projects towards production in the U.S. [2] - The company has consolidated the Kaycee district under single-company control for the first time since the early 1980s, positioning itself for significant growth supported by strong government backing [2] - The ongoing 2025 drill program follows successful drilling in 2023 and 2024, aiming to expand on historic resources across a 35-mile trend with over 430 miles of mapped roll-fronts defined by 3,800 drill holes [2] - A strategic relationship with enCore Energy Corp. provides a "pathway to production," with enCore holding an equity interest and the right to back-in to 51% ownership in the flagship Kaycee Project located in Wyoming's Powder River Basin [2] Recent Developments - The company announced an extension of the closing date for the statutory plan of arrangement with Premier American Uranium Inc. to on or before September 10, 2025, due to delays in receiving approval from the TSX Venture Exchange [1]

Core Viewpoint - Quad/Graphics, Inc. has expanded its financial resources by adding Flagstar Bank to its lending group, increasing its Term Loan A by $20 million to $371 million and revolving credit availability by $15 million to $340 million [1][2]. Group 1: Financial Developments - The addition of Flagstar Bank enhances Quad's financial flexibility and supports its capital allocation strategy [2]. - The total outstanding principal amount of Quad's Term Loan A is now $371 million, while its revolving credit availability has increased to $340 million [1]. Group 2: Company Overview - Quad is a marketing experience company that provides integrated marketing and print services, leveraging technology and data-driven intelligence to simplify marketing complexities [3]. - The company employs approximately 11,000 people across 11 countries and serves around 2,100 clients, including major blue-chip companies in various sectors such as retail, financial services, and health [4].

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 |