$CMAXQ
CareMax, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024094897 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2
Revenue $198.6M
YoY Change -11.5%
Cost Of Revenue $195.7M
YoY Change -0.75%
Gross Profit $2.919M
YoY Change -89.29%
Gross Profit Margin 1.47%
Selling, General & Admin $16.16M
YoY Change -33.02%
% of Gross Profit 553.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.400M
YoY Change 16.67%
% of Gross Profit 47.96%
Operating Expenses $351.4M
YoY Change 53.98%
Operating Profit -$152.7M
YoY Change 3973.09%
Interest Expense -$20.38M
YoY Change 54.4%
% of Operating Profit
Other Income/Expense, Net -$17.64M
YoY Change -38.0%
Pretax Income -$170.4M
YoY Change 429.15%
Income Tax $200.0K
% Of Pretax Income
Net Earnings -$170.6M
YoY Change 426.8%
Net Earnings / Revenue -85.87%
Basic Earnings Per Share -$44.79
Diluted Earnings Per Share -$44.79
COMMON SHARES
Basic Shares Outstanding 3.808M
Diluted Shares Outstanding 3.808M

Balance Sheet

Concept 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.43M
YoY Change -69.91%
Cash & Equivalents $16.43M
Short-Term Investments
Other Short-Term Assets $9.547M
YoY Change 171.53%
Inventory
Prepaid Expenses
Receivables $97.49M
Other Receivables $0.00
Total Short-Term Assets $123.5M
YoY Change -43.53%
LONG-TERM ASSETS
Property, Plant & Equipment $21.42M
YoY Change -13.03%
Goodwill $156.8M
YoY Change -73.97%
Intangibles $42.16M
YoY Change -62.53%
Long-Term Investments
YoY Change
Other Assets $61.73M
YoY Change 2.46%
Total Long-Term Assets $330.6M
YoY Change -64.54%
TOTAL ASSETS
Total Short-Term Assets $123.5M
Total Long-Term Assets $330.6M
Total Assets $454.0M
YoY Change -60.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.453M
YoY Change -2.58%
Accrued Expenses $13.26M
YoY Change 4.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change -100.0%
Long-Term Debt Due $403.3M
YoY Change 1112.16%
Total Short-Term Liabilities $529.7M
YoY Change 440.1%
LONG-TERM LIABILITIES
Long-Term Debt $1.785M
YoY Change -99.4%
Other Long-Term Liabilities $5.844M
YoY Change -48.27%
Total Long-Term Liabilities $7.629M
YoY Change -97.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $529.7M
Total Long-Term Liabilities $7.629M
Total Liabilities $601.8M
YoY Change 14.31%
SHAREHOLDERS EQUITY
Retained Earnings -$934.9M
YoY Change 514.87%
Common Stock $787.1M
YoY Change 1.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$147.8M
YoY Change
Total Liabilities & Shareholders Equity $454.0M
YoY Change -60.55%

Cashflow Statement

Concept 2024 Q2
OPERATING ACTIVITIES
Net Income -$170.6M
YoY Change 426.8%
Depreciation, Depletion And Amortization $1.400M
YoY Change 16.67%
Cash From Operating Activities -$24.31M
YoY Change 12.98%
INVESTING ACTIVITIES
Capital Expenditures $668.0K
YoY Change -77.34%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$668.0K
YoY Change -77.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -70.00K
YoY Change -100.2%
NET CHANGE
Cash From Operating Activities -24.31M
Cash From Investing Activities -668.0K
Cash From Financing Activities -70.00K
Net Change In Cash -25.05M
YoY Change -341.24%
FREE CASH FLOW
Cash From Operating Activities -$24.31M
Capital Expenditures $668.0K
Free Cash Flow -$24.98M
YoY Change 2.1%

Facts In Submission

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us-gaap Impairment Of Long Lived Assets Held For Use
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Deferred Income Tax Expense Benefit
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cmax Change In Fair Value Adjustment Of Derivative Liabilities
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cmax Change In Fair Value Adjustment Of Derivative Liabilities
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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0
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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us-gaap Paid In Kind Interest
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cmax Non Cash Lease Expense
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cmax Non Cash Lease Expense
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us-gaap Provision For Doubtful Accounts
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us-gaap Goodwill Impairment Loss
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us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
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us-gaap Increase Decrease In Accounts Receivable
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cmax Risk Settlement Receivables And Liabilities
RiskSettlementReceivablesAndLiabilities
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cmax Risk Settlement Receivables And Liabilities
RiskSettlementReceivablesAndLiabilities
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cmax Increase Decrease In Other Operating Assets Excluding Other Current Assets
IncreaseDecreaseInOtherOperatingAssetsExcludingOtherCurrentAssets
41749000
cmax Increase Decrease In Other Operating Assets Excluding Other Current Assets
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us-gaap Increase Decrease In Operating Lease Liability
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-1577000
us-gaap Increase Decrease In Operating Lease Liability
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cmax Increase Decrease In Accounts Payable Net
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cmax Increase Decrease In Accounts Payable Net
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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cmax Related Party Receivables And Payables
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cmax Related Party Receivables And Payables
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Repayments Of Debt
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us-gaap Payments Of Financing Costs
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us-gaap Payments Of Financing Costs
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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cmax Additions To Property And Equipment Funded Through Accounts Payable
AdditionsToPropertyAndEquipmentFundedThroughAccountsPayable
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cmax Additions To Property And Equipment Funded Through Accounts Payable
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cmax Reclassification Of Contingent Considerations Previously Liability Classified
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0
cmax Reclassification Of Contingent Considerations Previously Liability Classified
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cmax Financed Property And Equipment Purchases
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cmax Increase Decrease In Right Of Use Assets And Lease Liabilities Due To Lease Remeasurements
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cmax Increase Decrease In Right Of Use Assets And Lease Liabilities Due To Lease Remeasurements
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
InterestPaidNet
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cmax Number Of Centers Operated And Managed
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cmax Affiliated Providers In Number Of States
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Use Of Estimates
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<p style="font-size:10pt;margin-top:11pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="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;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The areas where significant estimates are used in the financial statements include, but are not limited to, revenues and related receivables from risk adjustments, costs of our services and related liabilities, purchase price allocations, including fair value estimates of intangibles and contingent consideration, the valuation and related impairment testing of long-lived assets, including goodwill and intangible assets, the valuation of derivative liabilities, and the estimated useful lives of fixed assets and intangible assets, including internally developed software. Actual results could differ from those estimates.</span></p>
us-gaap Revenues
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us-gaap Revenues
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cmax Increase Decrease In External Provider Costs
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cmax Increase Decrease In External Provider Costs
IncreaseDecreaseInExternalProviderCosts
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cmax Increase Decrease In Short Term And Long Term Accounts Receivable Net Of Liabilities
IncreaseDecreaseInShortTermAndLongTermAccountsReceivableNetOfLiabilities
-926000
cmax Increase Decrease In Short Term And Long Term Accounts Receivable Net Of Liabilities
IncreaseDecreaseInShortTermAndLongTermAccountsReceivableNetOfLiabilities
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cmax Changes In Risk Settlement Liabilities
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CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2024Q2 cmax Reinsurance Premium Expense Incurred
ReinsurancePremiumExpenseIncurred
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cmax Reinsurance Premium Expense Incurred
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CY2023Q2 cmax Reinsurance Premium Expense Incurred
ReinsurancePremiumExpenseIncurred
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cmax Reinsurance Premium Expense Incurred
ReinsurancePremiumExpenseIncurred
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CY2024Q2 cmax Reinsurance Recoveries Recognized
ReinsuranceRecoveriesRecognized
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cmax Reinsurance Recoveries Recognized
ReinsuranceRecoveriesRecognized
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CY2023Q2 cmax Reinsurance Recoveries Recognized
ReinsuranceRecoveriesRecognized
6300000
cmax Reinsurance Recoveries Recognized
ReinsuranceRecoveriesRecognized
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us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2024Q2 cmax Maximum Decrease In Estimated Fair Value Of Debt Percentage
MaximumDecreaseInEstimatedFairValueOfDebtPercentage
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CY2024Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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cmax Estimate Of Goodwill Fair Value Exceeds Carrying Value
EstimateOfGoodwillFairValueExceedsCarryingValue
20000000
cmax Estimate Of Goodwill Fair Value Exceeds Carrying Value Percentage
EstimateOfGoodwillFairValueExceedsCarryingValuePercentage
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CY2023Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023Q1 cmax Percentage Of Estimated Fair Value Less Than Its Carrying Value
PercentageOfEstimatedFairValueLessThanItsCarryingValue
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CY2023Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2024Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
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CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
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CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
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CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
48778000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
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CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q4 us-gaap Finite Lived Intangible Assets Net
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CY2024Q2 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2024Q2 us-gaap Property Plant And Equipment Gross
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CY2023Q4 us-gaap Property Plant And Equipment Gross
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CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2024Q2 us-gaap Property Plant And Equipment Net
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CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2024Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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CY2023Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
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us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
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CY2024Q2 us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
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CY2023Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023Q2 us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
0
us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
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CY2024Q2 us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
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CY2023Q2 us-gaap Depreciation
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us-gaap Depreciation
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CY2022Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
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CY2022Q2 us-gaap Repayments Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
The Credit Agreement also contains covenants that require the Company to satisfy a minimum liquidity requirement of $50.0 million, which may be decreased to $25.0 million if the Company achieves a certain adjusted EBITDA, and maintain a maximum total leverage ratio based on the Company’s consolidated EBITDA, as defined in the Credit Agreement, with de novo losses excluded from the calculation of such ratio for up to 36 months after the opening of a de novo center, which maximum total leverage ratio was initially 8.50 to 1.00, commencing with the fiscal quarter ended September 30, 2022 and is subject to a series of step-downs. For the fiscal quarters ending September 30, 2026 and thereafter the Company must maintain a maximum total leverage ratio no greater than 5.50 to 1.00.
CY2022Q2 cmax Debt Instrument Covenant Minimum Liquidity Requirement
DebtInstrumentCovenantMinimumLiquidityRequirement
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CY2022Q2 cmax Debt Instrument Covenant Minimum Liquidity Requirement Reduced Amount On Achieving Adjusted Ebitda
DebtInstrumentCovenantMinimumLiquidityRequirementReducedAmountOnAchievingAdjustedEbitda
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CY2022Q2 cmax De Novo Losses Excluded From Calculation Of Such Ratio Period
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CY2022Q2 cmax Debt Instrument Covenants Maximum Leverage Ratio
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CY2023Q1 cmax Debt Instrument Interest Capitalized Percentage
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CY2024Q1 cmax Debt Instrument Increase In Applicable Margin Rate
DebtInstrumentIncreaseInApplicableMarginRate
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CY2024Q1 cmax Debt Instrument Covenant Minimum Liquidity Requirement
DebtInstrumentCovenantMinimumLiquidityRequirement
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us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
Based on the elections made by the Company, as of June 30, 2024, borrowings under the Credit Agreement bore interest of Term SOFR (calculated as the Secured Overnight Financing Rate published on the Federal Reserve Bank of New York’s website, plus the applicable credit spread adjustment based on the elected interest period), plus an applicable margin rate of 11.00%. As permitted under the Credit Agreement, as amended, the Company elected to capitalize the full amount of interest as principal from March 15, 2024 through August 15, 2024. As a result of this election, the cash interest component of the applicable margin increased by 2.00%.
cmax Debt Instrument Increase In Applicable Margin Rate
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CY2022Q4 cmax Related Party Debt Net
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CY2022Q4 us-gaap Repayment Of Notes Receivable From Related Parties
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CY2023Q4 us-gaap Repayments Of Related Party Debt
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CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2024Q2 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q2 us-gaap Long Term Debt Current
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CY2023Q4 us-gaap Long Term Debt Current
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CY2024Q2 us-gaap Long Term Debt Noncurrent
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CY2023Q4 us-gaap Long Term Debt Noncurrent
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2024Q2 cmax Long Term Debt Maturities Repayments Of Principal After Year Four
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CY2024Q2 us-gaap Debt Instrument Carrying Amount
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us-gaap Debt Instrument Covenant Compliance
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As of June 30, 2024, we were in compliance with all of the financial covenants under the Credit Agreement, as amended through the Seventh Amendment; however, without an additional waiver, we do not expect to be in compliance during the subsequent quarterly testing dates. A breach of any of the covenants under the Credit Agreement or the occurrence of other events specified in the Credit Agreement could result in an event of default under the same and give rise to the lenders’ right to accelerate our debt obligations thereunder and pursue other remedial actions under such agreement and/or trigger a cross default under our long-term leases. Accordingly, as of June 30, 2024, the full balance of the outstanding indebtedness related to the Credit Agreement was classified as a current liability in our condensed consolidated balance sheet.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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CY2024Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q2 us-gaap Earnings Per Share Basic
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CY2023Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2024Q2 us-gaap Earnings Per Share Diluted
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CY2023Q2 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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400000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2023Q2 cmax Fair Value Liabilities Level1 To Level2 Transfers Amount1
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CY2024Q2 cmax Fair Value Liabilities Level2 To Level1 Transfers Amount1
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cmax Fair Value Liabilities Level1 To Level2 Transfers Amount1
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cmax Fair Value Liabilities Level2 To Level1 Transfers Amount1
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CY2024Q2 cmax Fair Value Liabilities Level1 To Level2 Transfers Amount1
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cmax Fair Value Liabilities Level1 To Level2 Transfers Amount1
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CY2023Q2 cmax Fair Value Liabilities Level2 To Level1 Transfers Amount1
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cmax Fair Value Liabilities Level2 To Level1 Transfers Amount1
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CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
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0
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
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0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2023Q4 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
35500000
cmax Lessee Operating Lease Expiring Term Description
LesseeOperatingLeaseExpiringTermDescription
various times through 2043
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
18552000
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
15148000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
19612000
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
4533000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
4873000
us-gaap Operating Lease Cost
OperatingLeaseCost
8437000
us-gaap Operating Lease Cost
OperatingLeaseCost
9175000
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
240000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
480000
CY2024Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
661000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1317000
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1019000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
823000
us-gaap Variable Lease Cost
VariableLeaseCost
2188000
us-gaap Variable Lease Cost
VariableLeaseCost
1491000
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
285000
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
344000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
563000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
625000
CY2024Q2 us-gaap Lease Cost
LeaseCost
6737000
CY2023Q2 us-gaap Lease Cost
LeaseCost
6040000
us-gaap Lease Cost
LeaseCost
12984000
us-gaap Lease Cost
LeaseCost
11291000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
8637000
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1177000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
16181000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
2499000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15668000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
2549000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
14669000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2625000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13606000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2704000
CY2024Q2 cmax Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
110392000
CY2024Q2 cmax Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
48944000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
179152000
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
60498000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
71051000
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
40592000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
108101000
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
19905000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y8M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y8M12D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P18Y9M18D
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P19Y3M18D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0879
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0816
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1346
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1346
us-gaap Operating Lease Payments
OperatingLeasePayments
5028000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
12605000
cmax Operating Cash Flows For Finance Leases
OperatingCashFlowsForFinanceLeases
1317000
CY2023 cmax Operating Cash Flows For Finance Leases
OperatingCashFlowsForFinanceLeases
1310000
CY2024Q2 cmax Operating Lease Not Yet Commenced Aggregate Estimated Future Lease Payments
OperatingLeaseNotYetCommencedAggregateEstimatedFutureLeasePayments
24800000
cmax Lessee Operating And Finance Lease Restriction Or Covenant
LesseeOperatingAndFinanceLeaseRestrictionOrCovenant
The Company’s finance leases, two of the operating leases, and one lease that has not yet commenced, contain various covenants, that require the Company, among other things, to maintain minimum consolidated stockholder's equity of $100.0 million and a minimum cash balance of $25.0 million. In addition, these leases are subject to provisions that provide for a cross default in the event any of covenant violations under the Company’s Credit Agreement or in the event that covenant violations occur in other lease agreements with the same landlord.
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.006
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.003
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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