Nutex Health (US:NUTX)2024-11-07 21:07Revenue and Growth - Total revenue for the first nine months of 2024 was $222.3 million, an increase of 25% compared to $178.0 million for the same period in 2023[1] - Total revenue for the three months ended September 30, 2024, was $78,794,869, a 25.6% increase from $62,722,972 in the same period of 2023[11] - The four de-novo hospitals opened in 2023 are contributing to strong year-over-year growth in revenue and patient volume[6] Operating Performance - Operating income for the first nine months of 2024 was $54.7 million, a significant increase of 159% from $21.1 million in the same period in 2023[1] - Adjusted EBITDA for the third quarter of 2024 was $13.5 million, representing a 938% increase from $1.3 million in the third quarter of 2023[2] - Operating income for the three months ended September 30, 2024, was $9,662,745, compared to a loss of $(821,226) in the same period of 2023[11] - Adjusted EBITDA attributable to Nutex Health Inc. for 2024 was $13,463,592, a substantial increase from $1,279,193 in 2023[16] Net Loss and Financial Position - Net loss attributable to Nutex Health for the three months ended September 30, 2024, was $8.8 million, compared to a net loss of $5.5 million for the same period in 2023[2] - Net loss attributable to Nutex Health Inc. for 2024 was $(8,788,313), compared to $(5,542,391) in 2023, indicating a significant increase in losses[16] - Cash and cash equivalents at the end of the period were $46,909,281, up from $26,826,733 at the end of September 2023[12] - The company reported a net cash from operating activities of $23.1 million for the first nine months of 2024[3] - Net cash from operating activities for the nine months ended September 30, 2024, was $23,100,345, compared to $3,032,670 in the same period of 2023[12] Expenses and Liabilities - Total operating costs and expenses for the three months ended September 30, 2024, were $56,878,055, slightly up from $55,656,759 in the prior year[11] - The company reported a loss on warrant liability of $6,733,552 for the three months ended September 30, 2024[11] - Interest expense, net, increased to $5,381,040 in 2024 from $4,098,179 in 2023, reflecting higher borrowing costs[16] - Stock-based compensation expense rose to $1,963,518 in 2024 from $49,167 in 2023, indicating increased equity compensation[16] Hospital Division and Operations - Hospital division visits reached 122,944 for the first nine months of 2024, up 20% from 102,798 visits in the same period in 2023[1] - Total visits from the Hospital Division for the third quarter of 2024 were 41,668, an increase of 11.3% from 37,443 visits in the third quarter of 2023[2] - The Hospital Division operates 22 facilities across ten states, focusing on innovative healthcare models[17] Future Outlook and Risks - The company plans to continue growing its hospital and population health divisions responsibly to drive shareholder value[6] - The company anticipates continued growth but faces risks related to execution of its growth strategy and economic conditions[18] - Future financial performance may be adversely affected by various risks, including competition and regulatory changes[18]