Financial Data and Key Metrics Changes - Revenue growth of 12% year-over-year, with acute therapy growth in the mid-teens and chronic therapies growing in the low double digits [10][15] - Gross profit of $273 million, an increase of 6.3% compared to the previous year, impacted by therapy mix and lower margin therapies [15][16] - Adjusted EBITDA of $119.5 million, growing 3.5% year-over-year, with an adjusted EBITDA margin of 8.3% [16][19] - Adjusted earnings per share of $0.45, reflecting a 9.8% increase from last year [16] Business Line Data and Key Metrics Changes - Acute therapy growth was strong, benefiting from a favorable competitive landscape [10][11] - Chronic therapies faced a 380 basis point headwind due to the adoption of Stelara biosimilars, which have a lower reference price [15][29] - New therapies and enhanced services were added to the platform, focusing on clinical programs and data service expansion [11][12] Market Data and Key Metrics Changes - The company is well-positioned to leverage market trends, including the shift of care to home and ambulatory settings [7][8] - Strong relationships with health plans and the ability to provide both acute and chronic therapies on a national scale are key differentiators [8][9] Company Strategy and Development Direction - The company aims to transform healthcare by providing innovative services that improve outcomes and reduce costs [6][7] - Continued focus on expanding partnerships with payers and pharmaceutical manufacturers to enhance service delivery [8][9] - Investments in technology, artificial intelligence, and advanced analytics to drive operational efficiency [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate regulatory changes and competitive dynamics [9][33] - The company raised its full-year revenue, adjusted EBITDA, and adjusted EPS guidance, reflecting strong performance and execution [14][19] - Management anticipates continued growth despite headwinds from biosimilars and pricing changes [52][60] Other Important Information - The company generated $223 million in cash flow from operations year-to-date [17] - A new CFO, Meenal Sethna, joined the company, bringing extensive experience in finance and healthcare [5][6] - The company repurchased over $62 million in shares during the quarter [19] Q&A Session Summary Question: What is the uptake of the Stelara biosimilar at this point? - Management noted an uptick in biosimilar adoption, which is expected to impact revenue and gross profit due to lower reference prices [24][25] Question: Is there an expectation for additional headwinds from the Stelara biosimilars next year? - Management confirmed that additional headwinds are anticipated, and this has been factored into the guidance for 2025 [29][30] Question: Do you expect ongoing opportunities on the acute side due to competitor exits? - Management indicated that while opportunities may continue, growth may not be at the same pace as this year [35][36] Question: Can you provide details on the advanced practitioner model? - Currently, there are 175 facilities, with plans to expand the advanced practitioner model to enhance clinical competencies [39][40] Question: What are the M&A opportunities being explored? - The company is assessing a range of opportunities, focusing on tuck-ins and near adjacencies that enhance existing capabilities [63][64] Question: How is the company balancing buybacks versus M&A? - The priority is to invest in organic growth and technology before considering share buybacks [75]