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Signify Health, Inc. (SGFY) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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SGFY Annual Reports

  • 10-K Annual Report March 2022
  • 10-K Annual Report March 2021

Signify Health, Inc.

CIK: 1828182 Ticker: SGFY
Exhibit 99.1
signifyhealthlogoa.jpg

PRESS RELEASE

Signify Health Announces Fourth Quarter and Full Year 2021 Results
Establishes 2022 Guidance


Financial Highlights
Full Year 2021
Full-year revenue of $773.4 million, an increase of 27% from 2020
GAAP net income of $9.9 million compared to net loss of $14.5 million in 2020
Non-GAAP adjusted EBITDA1 of $171.2 million, an increase of 37% from 2020

Fourth Quarter 2021
Fourth quarter revenue of $181.4 million compared to $193.5 million in 2020
GAAP net income of $32.4 million compared to $0.7 million in 2020
Non-GAAP adjusted EBITDA1 of $40.2 million compared to $38.9 million in 2020

2022 Guidance
Signify Health estimates the following full year 2022 results, which reflects Caravan Health results for ten months of ownership in 2022:
Total GAAP revenue in the range of $948 million to $971 million; and
Total adjusted EBITDA1 in the range of $212 million to $222 million.

DALLAS and NEW YORK – March 2, 2022 – Signify Health, Inc. (NYSE: SGFY), a leading healthcare platform that leverages advanced analytics, technology and nationwide healthcare networks to create and power value-based payment programs, today announced the Company’s financial results for the fourth quarter and full year 2021, and established 2022 guidance.

“Successful execution drove immense growth for Signify Health in 2021 as we delivered meaningful value to our clients by facilitating improved health outcomes for their patients or members. Signify’s achievements reflect the dedication and perseverance of our employees and network of over 10,000 clinicians," said Kyle Armbrester, Chief Executive Officer of Signify Health. "Our 2021 results demonstrate the strength of our business model and were driven by Home & Community Services and the value recognized by clients who significantly expanded In-Home Evaluation (IHE) volume in 2021 to 1.9 million unique visits. We also delivered substantial savings to our Episodes of Care partners and the BPCI-A program in 2021 despite the impact of COVID-19 on program size and savings rates, which we expect will lessen over time as cases continue to decline and the situation stabilizes.”

Mr. Armbrester continued, “We are excited about closing our acquisition of Caravan Health, which puts Signify at the forefront of integrating value-based care programs together, expanding to broader populations and reaching a diverse array of urban, suburban, and rural communities across the country. By creating more relevancy for providers through multi-payor contracts, combined with our access to and scale within members’ homes, we are confident in our ability to accelerate the transformation of the U.S. healthcare system from fee-for-service to value-based care. We also expect Caravan Health to add to our revenue diversification this year and it is included in our 2022 guidance of 22-25% revenue growth for the combined company.”





The following information was filed by Signify Health, Inc. (SGFY) on Wednesday, March 2, 2022 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.

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Signify Health, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Signify Health, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' / Members??? Equity
Consolidated Statements Of Operations
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (Details)
Accounts Payable And Accrued Expenses (Tables)
Business Combinations
Business Combinations (Tables)
Business Combinations - Narrative (Details)
Business Combinations - Schedule Of Preliminary Fair Value Of Net Assets Acquired (Details)
Commitment And Contingencies
Commitment And Contingencies (Tables)
Commitment And Contingencies - Narrative (Details)
Commitment And Contingencies - Schedule Of Future Minimum Lease Payments (Details)
Commitment And Contingencies - Summary Of Seu Activity (Details)
Concentrations
Concentrations (Tables)
Concentrations - Narrative (Details)
Concentrations - Schedule Of Customer Concentration Risk (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Tables)
Earnings (Loss) Per Share - Anti-Dilutive Shares (Details)
Earnings (Loss) Per Share - Schedule Of Earnings (Loss) Per Share (Details)
Employee Benefit Arrangements
Employee Benefit Arrangements (Details)
Equity-Based Compensation
Equity-Based Compensation (Tables)
Equity-Based Compensation - Narrative (Details)
Equity-Based Compensation - Schedule Of Restricted Stock Units Activity (Details)
Equity-Based Compensation - Schedule Of Stock Options Activity (Details)
Equity-Based Compensation - Schedule Of Weighted Average Assumptions (Details)
Equity-Based Compensation - Summary Of Espp Share Reserve Activity (Details)
Equity-Based Compensation - Summary Of Incentive Unit Activity (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Changes In Contingent Consideration And Customer Equity Appreciation Rights (Details)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Schedule Of Valuation Techniques And Significant Unobservable Inputs (Details)
Goodwill
Goodwill (Tables)
Goodwill - Change In Carrying Amount Of Goodwill (Details)
Goodwill - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Schedule Of Income (Loss) Before Income Taxes (Details)
Income Taxes - Schedule Of Provision For Income Tax Expense (Details)
Income Taxes - Schedule Of Unrecognized Tax Benefits Roll Forward (Details)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Narrative (Details)
Intangible Assets - Schedule Of Expected Amortization Expense (Details)
Intangible Assets - Schedule Of Intangible Assets (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Future Principal Maturities Of Long-Term Debt (Details)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Schedule Of Long-Term Debt (Details)
Nature Of Operations
Nature Of Operations (Details)
Noncontrolling Interest
Noncontrolling Interest (Tables)
Noncontrolling Interest - Narrative (Details)
Noncontrolling Interest - Summary Of Ownership Interests In Cure Topco (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Narrative (Details)
Property And Equipment - Property And Equipment, Net (Details)
Related Party Transactions
Related Party Transactions (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Contract Assets (Details)
Revenue Recognition - Contract Liabilities (Details)
Revenue Recognition - Deferred Revenue (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Schedule Of Related Balance Sheets Account (Details)
Revenue Recognition - Shared Savings Payable (Details)
Schedule I - Condensed Financial Information Of Registrant
Schedule I - Condensed Financial Information Of Registrant (Tables)
Schedule I - Condensed Financial Information Of Registrant - Notes To Parent Company Financial Statements (Details)
Schedule I - Condensed Financial Information Of Registrant - Parent Company Balance Sheets (Details)
Schedule I - Condensed Financial Information Of Registrant - Parent Company Balance Sheets (Details)
Schedule I - Condensed Financial Information Of Registrant - Parent Company Statements Of Cash Flows (Details)
Schedule I - Condensed Financial Information Of Registrant - Parent Company Statements Of Income (Details)
Schedule Ii - Valuation And Qualifying Account
Sec Schedule, Article 12-09, Valuation And Qualifying Accounts (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Narrative (Details)
Segment Reporting - Schedule Of Operating Segment Results (Details)
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Details)
Selected Quarterly Financial Data (Unaudited) (Tables)
Shareholders' Equity
Shareholders' Equity (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Cash, Cash Equivalents And Restricted Cash (Details)
Significant Accounting Policies - Estimated Useful Lives In Computing Depreciation And Amortization (Details)
Significant Accounting Policies - Narrative (Details)
Subsequent Events
Subsequent Events (Details)
The Covid-19 Pandemic
Transaction-Related Expenses
Transaction-Related Expenses (Tables)
Transaction-Related Expenses - Narrative (Details)
Transaction-Related Expenses - Summary Of Approved Severance Activity (Details)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Narrative (Details)
Variable Interest Entities - Schedule Of Variable Interest Entities (Details)
Ticker: SGFY
CIK: 1828182
Form Type: 10-K Annual Report
Accession Number: 0001828182-22-000018
Submitted to the SEC: Thu Mar 03 2022 5:03:32 PM EST
Accepted by the SEC: Thu Mar 03 2022
Period: Friday, December 31, 2021
Industry: Home Health Care Services

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