Nutex Health (NUTX) - 2024 Q2 - Quarterly Results

Financial Performance - Total revenue for the first half of 2024 was $143.5 million, a 25% increase from $115.3 million in the first half of 2023[1] - Total revenue for the three months ended June 30, 2024, was $76,082,261, a 29.1% increase from $58,924,454 in the same period of 2023[8] - Net income for the six months ended June 30, 2024, was $2,467,743, a significant improvement from a net loss of $11,188,418 in the same period of 2023[9] - Adjusted EBITDA for the first half of 2024 was $16.6 million, representing a 159% increase from $6.4 million in the first half of 2023[3] - Adjusted EBITDA for the six months ended June 30, 2024, was $16,599,441, compared to $6,432,393 for the same period in 2023, indicating a 158.5% increase[11] Hospital Division Performance - Hospital division visits increased to 81,276 in the first half of 2024, up 25% from 65,244 visits in the same period of 2023[1] - Operating income for the hospital division reached $33.3 million in the first half of 2024, a significant increase of 140% compared to $13.9 million in the first half of 2023[1] - The company reported a 150% increase in hospital division operating income to $22.8 million for the second quarter of 2024[4] - Total visits from the hospital division for the second quarter of 2024 were 41,208, an increase of 28% from 32,183 visits in the second quarter of 2023[2] - The Hospital Division generated revenue of $67,604,878 for the three months ended June 30, 2024, compared to $51,611,803 in the same period of 2023, reflecting a 30.9% increase[8] Cash and Assets - Cash and cash equivalents as of June 30, 2024, were $40.8 million, up from $22.0 million at the end of 2023[5] - Cash and cash equivalents at the end of the period were $40,807,975, up from $32,754,330 at the end of June 30, 2023[9] - Total assets increased to $422.4 million as of June 30, 2024, compared to $398.2 million at the end of 2023[5] Loss and Expenses - Net loss attributable to Nutex Health Inc. was $0.7 million for the first half of 2024, a reduction from a net loss of $8.6 million in the same period of 2023[3] - The company reported a net loss attributable to Nutex Health Inc. of $(364,048) for the three months ended June 30, 2024, compared to a loss of $(3,479,047) in the same period of 2023[11] - Total operating costs and expenses for the six months ended June 30, 2024, were $110,817,639, an increase from $100,759,225 in the same period of 2023[8] - Interest expense for the six months ended June 30, 2024, was $9,498,894, compared to $7,983,137 for the same period in 2023, indicating a 18.9% increase[11] Operational Insights - Mature hospitals contributed to a 10% revenue growth in the first half of 2024 compared to the same period in 2023[3] - The Population Health Management division operates provider networks, including Independent Physician Associations (IPAs) and offers management services to affiliated hospitals and physician groups[13] - The company utilizes a cloud-based proprietary technology platform that aggregates clinical and claims data to enhance patient and provider care quality[13] Forward-Looking Statements - Forward-looking statements indicate potential risks including execution of growth strategy, regulatory changes, and competition, which could materially affect financial performance[13]