ADUS Announces First Quarter 2025 Financial Results
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May 5, 2025
Cash and Liquidity
As of March 31, 2025, the Company had cash of $97.0 million and bank debt of $203.0 million, with capacity and availability under its revolving
credit facility of $632.9 million and $421.9 million, respectively. Net cash provided by operating activities was $18.9 million for the first quarter of 2025, inclusive of a net $2.5 million in ARPA funds utilization.
Allison continued, “For the first quarter of 2025, we continued to generate consistent cash flow from operations and maintain a strong balance sheet. Our
conservative leverage position allows us the flexibility to continue to invest in our business and to evaluate and pursue additional acquisition opportunities. We remain focused on finding strategic markets that meet our objective to leverage our
existing personal care presence and add clinical care services, so we can provide all three levels of care. We see important synergies in offering the full care continuum as we build scale and expand our market coverage, and we are optimistic that
we will see additional acquisition opportunities in 2025.
“We believe the favorable trends in our business will continue to enhance our ability to
achieve solid organic growth and provide quality services from our recently acquired operations. As we extend our reach to more patients and families across our markets, we are mindful of our important role as a leading provider of quality care in
the preferred home setting. We recognize the hard work and dedication of the caregivers who are the face of Addus, and we are grateful for the outstanding care and support they provide every day across our markets. Working together, we look forward
to the opportunities ahead for Addus in 2025, as we deliver value to the clients we serve and our shareholders,” said Allison.
Non-GAAP Financial Measures
The information provided in this release includes adjusted net income, adjusted EBITDA,
adjusted net income per diluted share and adjusted net service revenue, which are non-GAAP financial measures. The Company defines adjusted net income as net income before acquisition expense, stock-based
compensation expense, and the gain or loss on the sale of assets. The Company defines adjusted EBITDA as earnings before net interest expense, taxes, depreciation, amortization, acquisition expense, stock-based compensation expense, and the gain or
loss on the sale of assets. The Company defines adjusted net income per diluted share as net income per share, adjusted for acquisition expense, stock-based compensation expense, restructure and other
non-recurring costs, gain or loss on the sale of assets, impairment of operating lease assets, retroactive rate increases from New York and the retroactive impact from collective bargaining negotiations. The
Company defines adjusted net service revenues as revenue adjusted for the closure of certain sites. The Company has provided, in the financial statement tables included in this press release, a reconciliation of adjusted net income to net income, a
reconciliation of adjusted EBITDA to net income, a reconciliation of adjusted diluted net income per share to net income per share, and a reconciliation of adjusted net service revenues to net service revenues, in each case, the most directly
comparable GAAP measure. Management believes that adjusted net income, adjusted EBITDA, adjusted diluted net income per share, and adjusted net service revenues are useful to investors, management and others in evaluating the Company’s
operating performance, to provide investors with insight and consistency in the Company’s financial reporting and to present a basis for comparison of the Company’s business operations among periods, and to facilitate comparison with the
results of the Company’s peers.
Conference Call
Addus will host a conference call on Tuesday, May 6, 2025, at 9:00 a.m. Eastern time. To access the live call, dial (833)
629-0620 (international dial-in number is (412) 317-1805) and ask to join the Addus HomeCare earnings call. A telephonic replay
of the conference call will be available through midnight on May 13, 2025, by dialing (877) 344-7529 (international dial-in number is (412) 317-0088) and entering pass code 3473942.
A live broadcast of Addus HomeCare’s conference call will be available
under the Investor Relations section of the Company’s website: www.addus.com. An online replay will also be available on the Company’s website for one month, beginning approximately two hours following the conclusion of the live
broadcast.
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