$AVAH
Aveanna Healthcare Holdings, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024093268 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $509.0M $505.0M
YoY Change 7.86% 8.26%
Cost Of Revenue $349.3M $346.7M
YoY Change 10.3% 7.69%
Gross Profit $159.7M $158.3M
YoY Change 2.86% 9.55%
Gross Profit Margin 31.37% 31.34%
Selling, General & Admin $88.18M $87.97M
YoY Change -3.37% -4.07%
% of Gross Profit 55.22% 55.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.587M $2.833M
YoY Change -25.9% -29.89%
% of Gross Profit 1.62% 1.79%
Operating Expenses $88.18M $87.97M
YoY Change -3.37% -4.07%
Operating Profit $34.02M $37.13M
YoY Change -9.25% 110.48%
Interest Expense $39.25M $39.61M
YoY Change 3.32% 10.16%
% of Operating Profit 115.35% 106.7%
Other Income/Expense, Net -$22.21M $6.371M
YoY Change -188.25% -152.27%
Pretax Income -$27.33M $3.979M
YoY Change -210.26% -113.08%
Income Tax $15.50M -$9.900M
% Of Pretax Income -248.81%
Net Earnings -$42.84M $13.91M
YoY Change -267.36% -143.46%
Net Earnings / Revenue -8.42% 2.75%
Basic Earnings Per Share -$0.22 $0.07
Diluted Earnings Per Share -$0.22 $0.07
COMMON SHARES
Basic Shares Outstanding 193.2M 192.4M
Diluted Shares Outstanding 193.4M 196.9M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $78.46M $47.66M
YoY Change 180.1% 38.42%
Cash & Equivalents $78.46M $47.66M
Short-Term Investments
Other Short-Term Assets $12.43M $14.59M
YoY Change -4.46% 34.58%
Inventory
Prepaid Expenses $12.20M $16.80M
Receivables $265.4M $273.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $381.4M $364.0M
YoY Change 26.58% 17.99%
LONG-TERM ASSETS
Property, Plant & Equipment $18.04M $19.23M
YoY Change -9.08% -10.34%
Goodwill $1.055B $1.055B
YoY Change -9.07% -9.07%
Intangibles $89.75M $92.86M
YoY Change -7.26% -4.79%
Long-Term Investments
YoY Change
Other Assets $32.20M $64.06M
YoY Change -61.89% -5.18%
Total Long-Term Assets $1.263B $1.300B
YoY Change -12.31% -8.57%
TOTAL ASSETS
Total Short-Term Assets $381.4M $364.0M
Total Long-Term Assets $1.263B $1.300B
Total Assets $1.644B $1.664B
YoY Change -5.58% -3.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $41.93M $39.12M
YoY Change 9.08% -8.14%
Accrued Expenses $100.3M $87.25M
YoY Change 34.81% 11.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.200M $9.200M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $406.0M $389.1M
YoY Change 14.18% 3.57%
LONG-TERM LIABILITIES
Long-Term Debt $1.275B $1.274B
YoY Change -0.29% -0.46%
Other Long-Term Liabilities $5.849M $4.532M
YoY Change 2570.78% 1343.31%
Total Long-Term Liabilities $1.281B $1.278B
YoY Change 0.15% -0.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $406.0M $389.1M
Total Long-Term Liabilities $1.281B $1.278B
Total Liabilities $1.799B $1.782B
YoY Change 3.04% 0.98%
SHAREHOLDERS EQUITY
Retained Earnings -$1.411B -$1.369B
YoY Change 13.53% 7.87%
Common Stock $1.255B $1.250B
YoY Change 1.5% 1.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$156.4M -$119.0M
YoY Change
Total Liabilities & Shareholders Equity $1.644B $1.664B
YoY Change -5.58% -3.84%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$42.84M $13.91M
YoY Change -267.36% -143.46%
Depreciation, Depletion And Amortization $2.587M $2.833M
YoY Change -25.9% -29.89%
Cash From Operating Activities $29.39M $1.809M
YoY Change -379.46% -75.86%
INVESTING ACTIVITIES
Capital Expenditures $2.213M $1.269M
YoY Change 70.36% -40.2%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$2.213M -$1.269M
YoY Change 70.36% -73.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.620M 4.514M
YoY Change -32.91% -63.95%
NET CHANGE
Cash From Operating Activities 29.39M 1.809M
Cash From Investing Activities -2.213M -1.269M
Cash From Financing Activities 3.620M 4.514M
Net Change In Cash 30.80M 5.054M
YoY Change -579.69% -66.78%
FREE CASH FLOW
Cash From Operating Activities $29.39M $1.809M
Capital Expenditures $2.213M $1.269M
Free Cash Flow $27.18M $540.0K
YoY Change -330.02% -89.95%

Facts In Submission

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<p id="notes_to_unaudited_consolidated_financia" style="text-indent:-4.749%;padding-left:4.533%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. DESCRIPTION</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> OF BUSINESS</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="margin-left:4.533%;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Aveanna Healthcare Holdings Inc. (together with its consolidated subsidiaries, referred to herein as the “Company”) is headquartered in Atlanta, Georgia and has locations in </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">33</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> states with concentrations in California, Texas and Pennsylvania, providing a broad range of pediatric and adult healthcare services, including nursing, hospice, rehabilitation services, occupational nursing in schools, therapy services, day treatment centers for medically fragile and chronically ill children and adults, as well as delivery of enteral nutrition and other products to patients. In addition, the Company provides respite healthcare services, which are temporary care provider services provided in relief of the patient’s normal caregiver. The Company’s services are designed to provide a high quality, lower cost alternative to prolonged hospitalization.</span></p>
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