Addus(ADUS) - 2025 Q1 - Quarterly Results

Financial Performance - Net service revenues for Q1 2025 were $337.7 million, a 20.3$280.7 million in Q1 2024[4] - Net income for Q1 2025 was $21.2 million, or$1.16 per diluted share, compared to $15.8 million, or$0.97 per diluted share in Q1 2024[4] - Adjusted EBITDA increased 25.1% to $40.6 million in Q1 2025 from$32.4 million in Q1 2024[4] - Total revenue for the three months ended March 31, 2025, was $337.7 million, a 20.3$280.7 million in the same period of 2024[22] - Adjusted EBITDA for the three months ended March 31, 2025, was $40.6 million, up from$32.4 million, marking a 25.2% increase[27] - Adjusted net income increased to $26.0 million, compared to$19.8 million in the same period last year, a growth of 31.4%[27] Segment Performance - The personal care segment, accounting for 76.5% of total revenue, saw a 7.4% organic revenue increase year-over-year[5] - Personal Care segment revenue increased to $258.3 million from$208.0 million, representing a 24.2% growth year-over-year[22] - The hospice care segment, which made up 18.2% of total revenue, experienced a 9.9% organic revenue growth compared to the previous year[6] - Hospice segment revenue rose to $61.4 million, up 9.3$55.9 million in the prior year[22] - Organic revenue growth for the Personal Care segment was 7.4%, down from 9.3% in the previous year[24] Operational Metrics - Cash flow from operations for Q1 2025 was $18.9 million, including$2.5 million in ARPA funds utilization[8] - Average billable census total increased to 50,478, compared to 37,715 in the previous year, reflecting a significant growth due to acquisitions[24] - Revenue per billable hour decreased to $25.32 from$27.35, indicating a 7.4% decline[24] - Medicare accounted for 69.9% of Home Health revenues, slightly up from 69.1% in the previous year[24] Assets and Liquidity - Cash and liquidity as of March 31, 2025, included $97.0 million in cash and$203.0 million in bank debt, with $632.9 million available under the revolving credit facility[8] - Total assets increased to$1.407 billion as of March 31, 2025, compared to $1.014 billion in the previous year[20] Strategic Initiatives - The company aims to pursue additional acquisition opportunities in 2025 to expand its market coverage and service offerings[9] - Addus HomeCare currently serves approximately 62,000 consumers across 260 locations in 23 states[15] - The company served 23 states and expanded locations to 199, up from 153 in the prior year[24]