Brightspring Health Services, Inc. 10K Annual Reports & 10Q SEC Filings

LOUISVILLE, Ky., Feb. 29, 2024 (GLOBE NEWSWIRE) — BrightSpring Health Services, Inc. (“BrightSpring” or the “Company”) (NASDAQ: BTSG) announced today financial results for the fourth quarter and full year ended December 31, 2023.

Fourth Quarter 2023 Financial Highlights

•

Net revenue of $2,375 million, up 20.5% compared to $1,971 million in the fourth quarter of 2022

•

Net revenue growth was negatively impacted by 1.6% due to the Q4 2022 Workforce Solutions divestiture

•

Gross profit of $369 million, or 15.5% of revenue, up 9.2% compared to $338 million, or 17.1% of revenue, in the fourth quarter of 2022

•

Gross profit growth was negatively impacted by 1.4% due to the Q4 2022 Workforce Solutions divestiture and by 5.2% due to a one-time Q4 2022 payer rate adjustment

•

Net loss of $7 million, or $(0.06) per diluted share, compared to net loss of $56 million, or $(0.48) per diluted share in the fourth quarter of 2022

•

Adjusted EBITDA^I of $143 million, up 2.5% compared to $139 million in the fourth quarter of 2022

•

Adjusted EBITDA^I growth was negatively impacted by 1.3% due to Q4 2022 Workforce Solutions divestiture and by 12.7% due to Q4 2022 payer rate adjustment

•

Cash flow from operations of $162 million

Full Year 2023 Financial Highlights

•

Net revenue of $8,826 million, up 14.3% compared to $7,721 million in full year 2022

•

Net revenue growth was negatively impacted by 4.2% due to Q4 2022 Workforce Solutions divestiture

•

Gross profit of $1,434 million, or 16.2% of revenue, up 5.9% compared to $1,354 million, or 17.5% of revenue, in full year 2022

•

Gross profit growth was negatively impacted by 2.8% due to Q4 2022 Workforce Solutions

•

Net loss of $155 million, or $(1.31) per diluted share, compared to net loss of $54 million, or $(0.46) per diluted share in full year 2022

•

Adjusted EBITDA^I of $538 million, up 2.9% compared to $523 million in full year 2022

•

Adjusted EBITDA growth was negatively impacted by 4.1% due to Q4 2022 Workforce Solutions divestiture

Jon Rousseau, Chief Executive Officer, stated, “I am proud to announce that we closed out a very successful 2023 with strong momentum in both the Pharmacy and Provider segments and am thankful for the efforts of dedicated employees across the country. We positively impact hundreds of thousands of individuals living with complex health conditions through our complementary and high-quality services that improve outcomes and reduce cost. Our consistent performance is reflective of our team’s ongoing

^I	Adjusted EBITDA is a non-GAAP financial measure. Please see “Non-GAAP Financial Information” and the end of this press release for a reconciliation of Adjusted EBITDA to net (loss) income, the most directly comparable financial measure prepared in accordance with GAAP.

The following information was filed by Brightspring Health Services, Inc. on Thursday, February 29, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/1865782/000095017024027316/btsg_10-k_20231231.htm

View differences made from one year to another to evaluate Brightspring Health Services, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Brightspring Health Services, Inc..

Continue

Assess how Brightspring Health Services, Inc.'s management team is paid from their Annual Proxy

Brightspring Health Services, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2024 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Material Contracts, Statements, Certifications & more

Brightspring Health Services, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 4.8: Description Of Securities

Exhibit 23.1: Consent Of Kpmg, Llp

Exhibit 31.1: Certification Of Principal Executive Officer Pursuant To Rules 13A-14(A) And 15D

Exhibit 31.2: Certification Of Principal Financial Officer Pursuant To Rules 13A-14(A) And 15D

Exhibit 32.1: Certification Of Principal Executive Officer Pursuant To 18 U.S.C. Section 1350,

Exhibit 32.2: Certification Of Principal Financial Officer Pursuant To 18 U.S.C. Section 1350,

Exhibit 97.1: Brightspring Health Services, Inc. Incentive Compensation Clawback Policy

CIK: 1865782
Form Type: 10-K Annual Report
Accession Number: 0000950170-24-027316
Submitted to the SEC: Wed Mar 06 2024 5:11:01 PM EST
Accepted by the SEC: Wed Mar 06 2024
Period: Sunday, December 31, 2023
Industry: Home Health Care Services

External Resources:
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/1865782/0000950170-24-027316.htm

Brightspring Health Services, Inc. (1865782) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, December 31, 2023

SEC Filings

1865782 Annual Reports

1865782 Quarterly Reports

1865782 Corporate News

1865782 Registration of Securities