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TIVITY HEALTH, INC.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2022 10-Q, filed May 5, 2022. Its latest SEC filing is a SC 13G/A from Jul 11, 2022.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Provides fitness and member-engagement programs and physical and integrative medicine services to health plans, employers and adults enrolled through them.

How Did They Make Money?

Health plans, employers and sponsoring organizations pay for access to fitness networks and programming, with fees based on eligible members and/or visits; payment is typically due within 30 days of invoice.

FY2021 revenue

Who Were Their Customers?

Health plans contract for SilverSneakers and WholeHealth Living; employers and other sponsors offer Prime Fitness, which individuals can buy through them.

Did Revenues Turn Into Profits?

Yes. It kept 22 cents of every revenue dollar as net income in FY2021 and turned 15 cents into free cash flow.

Operating income, FY2021
30% of revenue
▲ +21% vs FY2020 ($118.1M, 27%)
Net income, FY2021
22% of revenue
▲ Now profitable vs FY2020 (−$223.6M, −51%)
Free cash flow, FY2021
15% of revenue
▼ −53% vs FY2020 ($153.9M, 35%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q1 FY2022, the three months to Mar 31, 2022
Revenue
▲ +18%
vs $108.1M in Q1 FY2021
Net income
▼ −97%
vs $19.1M in Q1 FY2021
  • Jul 8, 2022 Chief financial officer Adam Holland’s employment ended He agreed to provide consulting services during the transition to his successor.
  • Jun 28, 2022 Stone Point completed its acquisition of Tivity Health Tivity Health became a wholly owned subsidiary, and its common stock ceased trading on Nasdaq.

Shrank. Revenue fell 14% in 4 years, from $556.9M in FY2017 to $481.3M in FY2021, about 4% a year.

Leaving nutrition The older report describes a pending Nutrisystem acquisition; the latest report says the company sold its nutrition business and classifies its results as discontinued operations.

Virtual fitness The older report describes digital platforms as developing; the latest report says the company offers virtual fitness experiences, including live instructor-led classes.

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