Revenue Growth - Revenue increased by $732.9 million, or 28.2%, to $3,334.1 million in Q3 2025 compared to Q3 2024[149] - Total revenues for the three months ended September 30, 2025, were $3,334.1 million, an increase of $732.9 million or 28.2% compared to $2,601.2 million for the same period in 2024[185] - Total revenues for the nine months ended September 30, 2025, were $9,359.9 million, an increase of $2,034.7 million or 27.8% compared to $7,325.2 million for the same period in 2024[200] - Revenues for the nine months ended September 30, 2025, reached $8,289.2 million, an increase of $1,932.0 million or 30.4% compared to $6,357.2 million in 2024[223] Segment Performance - Pharmacy Solutions segment revenue grew by $701.3 million, or 31.0%, to $2,967.0 million[149] - Provider Services segment revenue increased by $31.6 million, or 9.4%, to $367.1 million[149] - The Pharmacy Solutions segment accounted for 89.0% of total revenue for the three months ended September 30, 2025, compared to 87.1% in the same period of 2024, reflecting a stable demand for these services[158] - Revenues from the Pharmacy Solutions segment for the three months ended September 30, 2025, were $2,966.97 million, a 31.0% increase from $2,265.7 million in 2024[212] Profitability - Net income rose by $63.2 million from a net loss of $25.7 million to a net income of $37.5 million[149] - Net income for the three months ended September 30, 2025, was $37.5 million, a significant increase of $63.2 million compared to a net loss of $25.7 million for the same period in 2024[194] - Net income for the nine months ended September 30, 2025, was $55.2 million, a significant increase of $128.5 million compared to a net loss of $73.2 million for the same period in 2024[207] - Adjusted EBITDA increased by $43.5 million, or 37.2%, to $160.4 million[149] - Adjusted EBITDA for the three months ended September 30, 2025, was $160.4 million, representing a 37.2% increase from $116.9 million in the prior year[195] - Adjusted EBITDA rose to $434.0 million for the nine months ended September 30, 2025, reflecting an increase of $104.2 million or 31.6% from $329.8 million in 2024[208] Operational Metrics - The company serves over 460,000 patients daily through approximately 10,500 clinical providers and pharmacists[144] - The overall patient census in the pharmacy segment grew by approximately 2% in Q3 2025 compared to Q3 2024, demonstrating continued expansion in patient populations served[161] - For the three months ended September 30, 2025, the total revenue from Infusion and Specialty Pharmacy was 71.3%, up from 64.5% in the same period of 2024, indicating a growth in this segment[158] - The average daily census for Home Health Care increased by 3.3% to 29,592 for the three months ended September 30, 2025, compared to 28,650 in 2024[231] Cost and Expenses - Cost of goods for the nine months ended September 30, 2025, was $7,605.9 million, an increase of $1,790.0 million or 30.8% from $5,816.0 million in the prior year[201] - Selling, general, and administrative expenses for the three months ended September 30, 2025, were $304.2 million, an increase of $10.2 million or 3.5% compared to $294.0 million in the prior year[190] - Selling, general, and administrative expenses increased to $918.1 million for the nine months ended September 30, 2025, up $42.7 million or 4.9% from $875.3 million in the same period of 2024[203] Cash Flow and Liquidity - Net cash provided by operating activities for the nine months ended September 30, 2025, was $258.6 million, a substantial increase of $325.4 million compared to a cash outflow of $66.8 million in 2024[262][263] - Total liquidity at the end of September 30, 2025, was $617.6 million, up from $475.8 million at the end of 2024, indicating improved financial flexibility[260] - Net cash used in investing activities decreased by $53.3 million, from $124.5 million in 2024 to $71.2 million in 2025, primarily due to reduced cash paid for acquisitions[263] Debt and Financing - The total outstanding debt of the Company as of September 30, 2025 was $2.58 billion, with a net debt of $2.52 billion after deducting debt issuance costs[281] - The Company's leverage ratio was 3.31x as of September 30, 2025, down from 4.16x at December 31, 2024[281] - The Company incurred total gross borrowings of $3,025.0 million under the First Lien Credit Agreement, reflecting its strategy for financing acquisitions and working capital[269] - The Company had a beginning Revolving Credit Facility balance of $63.3 million as of September 30, 2025, with an ending balance of $0, indicating full repayment[260] Legal and Compliance - The Company agreed to settle a legal matter for a total financial impact of $120.0 million, with $110.0 million paid in 2024 and the remainder in April 2025[174] - The company was in compliance with all applicable financial covenants as of September 30, 2025, ensuring operational stability[268]
Brightspring Health Services, Inc.(BTSGU) - 2025 Q3 - Quarterly Report