← AdaptHealth Corp.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net revenue | $345.3m | $529.6m | $1.1b | $2.5b | $3.0b | $3.2b | $3.3b | $3.2b | |
| Operating income (loss) | $31.1m | $29.7m | $71.3m | $225.6m | $190.4m | ($598.4m) | $263.7m | $90.9m | |
| Depreciation and amortization, excluding patient equipment depreciation | $2.7m | $3.1m | $11.4m | $63.1m | $64.9m | $57.1m | $45.0m | $40.6m | |
| Goodwill impairment (note 7) | $2.1m | ($15.0m) | ($161.6m) | $0 | $0 | $830.8m | $13.1m | $128.0m | |
| Gain on sale of businesses (note 4) | — | — | — | — | — | $0 | $0 | ($32.6m) | |
| Loss on extinguishment of debt | $1.4m | $2.1m | $5.3m | $20.2m | $0 | $0 | $2.3m | $0 | |
| Change in fair value of warrant liability (note 13) | $2.1m | $7.7m | $135.4m | ($53.2m) | ($17.2m) | ($34.5m) | ($4.0m) | $0 | |
| Other loss, net | — | ($318k) | ($3.4m) | $1.8m | $253k | $29.6m | $2.8m | $274k | |
| Net (loss) income | $24.3m | ($12.9m) | ($58.7m) | $158.2m | $73.1m | ($674.8m) | $94.8m | ($66.0m) | |
| Income attributable to noncontrolling interest | $1.1m | $2.1m | $5.8m | $2.0m | $3.8m | $4.1m | $4.4m | $4.8m | |
| Net (loss) income attributable to AdaptHealth Corp. | $23.3m | ($15.0m) | ($64.5m) | $156.2m | $69.3m | ($678.9m) | $90.4m | ($70.8m) | |
| (Loss) income before income taxes | $22.2m | ($11.7m) | ($70.7m) | $191.0m | $97.9m | ($723.8m) | $136.0m | ($15.2m) | |
| Basic net (loss) income per share (in dollars per share) | — | $0.86 | ($3.08) | $1.12 | $0.47 | ($5.06) | $0.62 | ($0.52) | |
| Diluted net (loss) income per share (in dollars per share) | ($0.13) | ($0.95) | ($3.08) | $0.67 | $0.33 | ($5.31) | $0.61 | ($0.52) | |
| Weighted average common shares outstanding - basic (in shares) | — | 22.6m | 52.5m | 126.3m | 134.2m | 134.2m | 133.8m | 135.1m | |
| Weighted average common shares outstanding - diluted (in shares) | — | 22.6m | 52.5m | 133.0m | 139.0m | 134.4m | 135.5m | 135.1m | |
| Cost of net revenue | $293.4m | $440.4m | $898.6m | $2.0b | $2.6b | $2.7b | $2.6b | $2.6b | |
| General and administrative expenses | $18.1m | $56.5m | $89.3m | $167.5m | $162.1m | $190.1m | $359.2m | $382.3m | |
| Interest expense, net | $7.5m | $39.3m | $41.4m | $95.2m | $109.4m | $130.3m | $126.7m | $105.8m | |
| Income tax expense (benefit) | ($2.1m) | $1.2m | ($12.0m) | $32.8m | $24.8m | ($49.0m) | $41.2m | $50.9m | |
| Total costs and expenses | $314.2m | $499.9m | $999.3m | $2.2b | $2.8b | $3.8b | $3.0b | $3.2b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.