Nutex Health (US:NUTX)2024-05-08 22:27Financial Performance - Total revenue for Q1 2024 was $67.5 million, an increase of 20% compared to $56.3 million in Q1 2023[8] - Hospital division operating income reached $10.5 million, a 119% increase from $4.8 million in the same period last year[8] - Adjusted EBITDA for Q1 2024 was $4.6 million, up 92% from $2.4 million in Q1 2023[8] - Net cash from operating activities was $3.1 million for Q1 2024, compared to $1.1 million in Q1 2023[8] - Net loss attributable to Nutex Health Inc. was $0.4 million, significantly improved from a net loss of $5.1 million in Q1 2023[8] - Net loss attributable to Nutex Health Inc. for Q1 2024 was $364,075, a significant improvement from a net loss of $5,147,279 in Q1 2023[18] - Adjusted EBITDA for Q1 2024 was $4,560,401, compared to $2,437,854 in Q1 2023, reflecting a year-over-year increase of approximately 87%[18] - EBITDA for Q1 2024 was reported at $7,111,981, a substantial increase from $320,588 in the same quarter of the previous year[18] Operational Highlights - Total hospital division visits increased to 40,068 in Q1 2024, a 21.1% rise from 33,085 visits in Q1 2023[8] - Mature hospitals contributed to a 6.7% revenue increase in 2024 compared to 2023[8] - The company opened five new micro hospitals and expanded its population health division over the past 18 months[6] - The Hospital Division operates 21 facilities across nine states, focusing on innovative healthcare models including micro-hospitals and specialty hospitals[19] - The Population Health Management division utilizes a cloud-based proprietary technology platform to aggregate clinical and claims data, enhancing care quality and efficiency[20] Financial Position - The company had $30.0 million in cash and $26.3 million in long-term debt as of March 31, 2024[6] - The balance sheet remains strong with total assets of $404.3 million as of March 31, 2024[8] Expenses and Costs - The company reported interest expense of $4,444,362 for Q1 2024, up from $3,140,089 in Q1 2023, indicating increased borrowing costs[18] - Depreciation and amortization expenses increased to $4,186,202 in Q1 2024 from $3,993,747 in Q1 2023, reflecting ongoing investments in facilities[18] - Stock-based compensation expense decreased to $49,167 in Q1 2024 from $1,900,000 in Q1 2023, indicating a reduction in equity compensation costs[18] Strategic Outlook - The company faces risks related to its growth strategy, regulatory changes, and competition, which could impact future financial performance[22] - Nutex Health Inc. is committed to expanding its provider networks and enhancing management services through its Management Services Organization (MSO)[20]