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ATI Physical Therapy, Inc.

atipt.com

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2024 10-K, filed Mar 18, 2025. Its latest SEC filing is a 4 from May 14, 2025.

The sections below describe the company as of the FY2024 annual report.

What Did They Do?

Provides outpatient physical therapy and rehabilitation services to patients, with on-site injury prevention and therapy services for employers, schools and physician-owned clinics.

How Did They Make Money?

Patients receive physical therapy at each visit, with payment coming from patients and third-party payors such as insurers and government programs for services provided. Employers pay for worksite services based on the hours and rates delivered during each period.

FY2024 revenue

Who Were Their Customers?

Patients receive care at the company's clinics; commercial health plans, government programs, workers’ compensation insurers and auto or personal injury insurers pay for many patient visits. Employers receive on-site services, while physician-owned clinics receive management and therapy-related support.

Did Revenues Turn Into Profits?

No. It lost $58.3M in FY2024.

Operating income, FY2024
0% of revenue
▲ Now profitable vs FY2023 (−$27.5M, −4%)
Net income, FY2024
−8% of revenue
▼ −16% (Loss) vs FY2023 (−$69.8M, −10%)
Free cash flow, FY2024
−5% of revenue
▲ +15% (Loss) vs FY2023 (−$29.7M, −4%)

How Were They Changing?

Grew. Revenue grew 27% in 4 years, from $592.3M in FY2020 to $753.1M in FY2024, about 6% a year.

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