Agiliti Inc(NYSE:AGTI) 
Agiliti is an essential service provider to the U.S. healthcare industry with solutions that help support a more efficient, safe and sustainable healthcare delivery system. The company ensures healthcare providers have the critical medical equipment they need to care for patients—wherever and whenev...
Website: https://www.agilitihealth.com/
Founded: 1939
Sector: Manufacturing
Industry: Dental Laboratories
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At a glance:
Bull Thesis:
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Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2021-01-04 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 302,751,000 | 291,986,000 | 291,633,000 | 291,081,000 | 299,904,000 | 281,679,000 | 271,185,000 | 273,984,000 | 294,444,000 | 262,424,000 | 250,543,000 | 235,245,000 | ||
yoy | 0.95% | 3.66% | 7.54% | 6.24% | 1.85% | 7.34% | 8.24% | 16.47% | ||||||
qoq | 3.69% | 0.12% | 0.19% | -2.94% | 6.47% | 3.87% | -1.02% | -6.95% | 12.20% | 4.74% | 6.50% | |||
cost of revenue | 203,542,000 | 193,430,000 | 194,875,000 | 191,677,000 | 190,530,000 | 174,100,000 | 169,582,000 | 175,819,000 | 170,817,000 | 158,990,000 | 151,435,000 | 133,922,000 | ||
gross margin | 99,209,000 | 98,556,000 | 96,758,000 | 99,404,000 | 109,374,000 | 107,579,000 | 101,603,000 | 98,165,000 | 123,627,000 | 103,434,000 | 99,108,000 | 101,323,000 | ||
yoy | -9.29% | -8.39% | -4.77% | 1.26% | -11.53% | 4.01% | 2.52% | -3.12% | ||||||
qoq | 0.66% | 1.86% | -2.66% | -9.12% | 1.67% | 5.88% | 3.50% | -20.60% | 19.52% | 4.36% | -2.19% | |||
gross margin % | 32.77% | 33.75% | 33.18% | 34.15% | 36.47% | 38.19% | 37.47% | 35.83% | 41.99% | 39.41% | 39.56% | 43.07% | ||
selling, general and administrative expense | 84,025,000 | 81,939,000 | 87,295,000 | 81,230,000 | 88,837,000 | 84,685,000 | 86,044,000 | 82,121,000 | 86,138,000 | |||||
operating income | 15,184,000 | 16,617,000 | 9,463,000 | 18,174,000 | 20,537,000 | 22,894,000 | 15,559,000 | 16,044,000 | 37,489,000 | 28,382,000 | 18,052,000 | 32,099,000 | ||
yoy | -26.07% | -27.42% | -39.18% | 13.28% | -45.22% | -19.34% | -13.81% | -50.02% | ||||||
qoq | -8.62% | 75.60% | -47.93% | -11.51% | -10.30% | 47.14% | -3.02% | -57.20% | 32.09% | 57.22% | -43.76% | |||
operating margin % | 5.02% | 5.69% | 3.24% | 6.24% | 6.85% | 8.13% | 5.74% | 5.86% | 12.73% | 10.82% | 7.21% | 13.64% | ||
interest expense | 22,918,000 | 23,461,000 | 24,274,000 | 20,549,000 | 15,831,000 | 14,983,000 | 12,531,000 | 11,261,000 | 10,664,000 | 10,711,000 | 11,713,000 | 18,021,000 | ||
income before income taxes and noncontrolling interest | -7,734,000 | -6,844,000 | -14,893,000 | -6,820,000 | 4,706,000 | 7,911,000 | -8,890,000 | 3,365,000 | 26,825,000 | 17,671,000 | -3,777,000 | 14,078,000 | ||
income tax (benefit) expense | -1,218,000 | -2,892,000 | 4,440,000 | -10,879,000 | -1,698,000 | |||||||||
consolidated net income | -6,516,000 | -5,619,000 | -12,622,000 | -3,928,000 | 3,050,000 | 3,471,000 | 1,989,000 | 5,063,000 | 19,920,000 | 9,728,000 | -5,171,000 | 9,583,000 | ||
net income attributable to noncontrolling interest | 91,000 | 92,000 | 79,000 | 98,000 | 37,000 | 100,000 | 38,000 | 65,000 | 28,000 | 60,000 | 27,000 | 30,000 | ||
net income attributable to agiliti, inc. and subsidiaries | -6,607,000 | -5,711,000 | -12,701,000 | -4,026,000 | 3,013,000 | 3,371,000 | 1,951,000 | 4,998,000 | 19,892,000 | 9,668,000 | -5,198,000 | 9,553,000 | ||
basic income per share | -0.05 | -0.03 | 0.02 | 0.03 | 0.01 | 0.04 | 0.15 | 0.07 | -0.04 | 0.1 | ||||
diluted income per share | -0.05 | -0.03 | 0.02 | 0.03 | 0.01 | 0.04 | 0.14 | 0.07 | -0.04 | 0.09 | ||||
weighted-average common shares outstanding: | ||||||||||||||
basic | 135,664,208 | 134,647,238 | 134,971,632 | 134,661,933 | 133,850,124 | 132,602,747 | 133,212,218 | 132,556,645 | 99,103,933 | |||||
diluted | 135,664,208 | 134,647,238 | 134,971,632 | 139,744,988 | 139,293,662 | 138,381,295 | 139,062,813 | 138,697,206 | 106,090,703 | |||||
loss on extinguishment / modification of debt | 82,000 | 4,445,000 | ||||||||||||
tax indemnification expense | 11,918,000 | |||||||||||||
income tax | -876,750 | -2,271,000 | ||||||||||||
basic earnings per share | -0.025 | -0.09 | ||||||||||||
diluted earnings per share | -0.025 | -0.09 | ||||||||||||
income tax expense | 1,656,000 | 6,905,000 | ||||||||||||
loss on extinguishment of debt | 1,418,000 | |||||||||||||
| ||||||||||||||
selling, general and administrative | 75,052,000 | 81,056,000 | 69,224,000 | |||||||||||
income tax benefit | 7,943,000 | 1,394,000 | 4,495,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||
current assets: | ||||||||||||||
cash and cash equivalents | 5,373,000 | 20,037,000 | 30,386,000 | 9,213,000 | 14,453,000 | 5,577,000 | 32,211,000 | 16,524,000 | 52,103,000 | 74,325,000 | 123,713,000 | 103,670,000 | 13,328,000 | |
accounts receivables | 246,344,000 | 215,684,000 | 212,991,000 | 220,269,000 | 222,846,000 | 207,753,000 | 203,087,000 | 215,862,000 | 168,679,000 | 105,254,000 | ||||
inventories | 86,006,000 | 74,484,000 | 79,195,000 | 79,154,000 | 73,575,000 | 70,132,000 | 60,987,000 | 59,137,000 | 55,954,000 | 55,307,000 | 29,092,000 | 32,060,000 | 27,699,000 | 11,122,000 |
prepaid expenses | 17,327,000 | 20,231,000 | 16,328,000 | 15,420,000 | 18,827,000 | 23,458,000 | 21,503,000 | 14,580,000 | 14,614,000 | 18,549,000 | ||||
other current assets | 8,334,000 | 7,307,000 | 5,296,000 | 4,760,000 | 3,942,000 | 9,393,000 | 13,003,000 | 12,645,000 | 6,453,000 | 395,000 | 14,847,000 | 11,378,000 | 13,129,000 | 10,339,000 |
total current assets | 363,384,000 | 337,743,000 | 344,196,000 | 328,816,000 | 333,643,000 | 316,313,000 | 330,791,000 | 318,748,000 | 342,671,000 | 357,884,000 | 368,431,000 | 312,083,000 | 222,835,000 | 134,055,000 |
property and equipment | 295,693,000 | 292,684,000 | 284,035,000 | 284,132,000 | 278,890,000 | 273,958,000 | 253,639,000 | 251,490,000 | 256,667,000 | |||||
goodwill | 1,239,432,000 | 1,239,432,000 | 1,239,432,000 | 1,239,432,000 | 1,239,432,000 | 1,239,106,000 | 1,218,329,000 | 1,218,329,000 | 1,213,121,000 | 1,213,121,000 | 1,122,530,000 | 1,122,530,000 | 1,122,530,000 | 346,168,000 |
operating lease right-of-use assets | 76,804,000 | 78,157,000 | 76,987,000 | 80,717,000 | 78,289,000 | 79,975,000 | 82,838,000 | 85,669,000 | 53,447,000 | |||||
other intangibles | 411,810,000 | 430,002,000 | 449,826,000 | 470,420,000 | 491,043,000 | 512,020,000 | 508,769,000 | 530,474,000 | 551,996,000 | 573,159,000 | 528,119,000 | 548,716,000 | 569,343,000 | 13,226,000 |
other | 21,149,000 | 20,926,000 | 24,646,000 | 23,991,000 | 22,112,000 | 22,735,000 | 23,295,000 | 34,627,000 | 36,846,000 | 32,537,000 | 18,884,000 | 18,371,000 | 16,713,000 | 10,422,000 |
total assets | 2,408,272,000 | 2,398,944,000 | 2,419,122,000 | 2,427,508,000 | 2,443,409,000 | 2,444,107,000 | 2,417,661,000 | 2,439,337,000 | 2,487,261,000 | 2,515,747,000 | 2,284,453,000 | 2,258,694,000 | 2,195,836,000 | 744,958,000 |
liabilities and equity | ||||||||||||||
current liabilities: | ||||||||||||||
current portion of long-term debt | 26,281,000 | 18,468,000 | 18,883,000 | 16,376,000 | 17,828,000 | 17,752,000 | 17,642,000 | 17,735,000 | 17,693,000 | 17,534,000 | 15,849,000 | 15,421,000 | 19,060,000 | 5,810,000 |
current portion of operating lease liability | 25,362,000 | 25,603,000 | 25,106,000 | 25,397,000 | 24,403,000 | 23,607,000 | 23,438,000 | 23,198,000 | 14,985,000 | |||||
current portion of obligation under tax receivable agreement | 1,862,000 | 12,796,000 | 11,144,000 | 10,052,000 | 9,872,000 | 34,694,000 | 29,824,000 | 29,710,000 | 15,650,000 | |||||
accounts payable | 67,709,000 | 58,518,000 | 70,995,000 | 70,328,000 | 69,432,000 | 59,163,000 | 59,094,000 | 56,513,000 | 57,454,000 | 53,851,000 | 48,712,000 | 49,965,000 | 47,523,000 | 37,642,000 |
accrued compensation | 37,699,000 | 28,866,000 | 33,782,000 | 20,620,000 | 29,973,000 | 25,928,000 | 31,867,000 | 23,309,000 | 36,396,000 | 47,951,000 | 37,658,000 | 33,726,000 | 38,864,000 | 33,556,000 |
accrued interest | 21,363,000 | 21,451,000 | 21,185,000 | 7,814,000 | 5,252,000 | 5,039,000 | 3,889,000 | 3,490,000 | 3,269,000 | 3,473,000 | 2,784,000 | 2,970,000 | 3,533,000 | 18,732,000 |
other current liabilities | 35,902,000 | 30,906,000 | 30,605,000 | 30,105,000 | 40,401,000 | 31,198,000 | ||||||||
total current liabilities | 216,178,000 | 196,608,000 | 211,700,000 | 180,692,000 | 197,161,000 | 197,381,000 | 200,916,000 | 189,929,000 | 203,549,000 | 208,530,000 | 167,270,000 | 164,923,000 | 180,365,000 | 116,769,000 |
long-term debt, less current portion | 1,059,377,000 | 1,061,062,000 | 1,059,347,000 | 1,081,246,000 | 1,083,572,000 | 1,077,293,000 | 1,050,288,000 | 1,073,016,000 | 1,103,785,000 | 1,174,968,000 | 1,028,626,000 | 1,028,502,000 | 1,350,035,000 | 685,189,000 |
obligation under tax receivable agreement, pension and other long-term liabilities | 9,723,000 | 10,467,000 | 9,468,000 | 10,135,000 | 9,505,000 | 9,161,000 | 17,036,000 | 31,179,000 | 31,196,000 | 29,629,000 | 57,216,000 | 57,030,000 | 56,182,000 | |
operating lease liability, less current portion | 62,819,000 | 63,765,000 | 63,160,000 | 67,046,000 | 64,974,000 | 67,332,000 | 70,259,000 | 73,122,000 | 41,904,000 | |||||
deferred income taxes | 120,142,000 | 126,219,000 | 130,964,000 | 133,976,000 | 140,999,000 | 146,615,000 | 142,676,000 | 143,381,000 | 149,571,000 | 143,307,000 | 109,469,000 | 102,110,000 | 101,297,000 | 31,844,000 |
commitments and contingencies | ||||||||||||||
equity: | ||||||||||||||
common stock, 0.0001 par value... | 14,000 | 14,000 | 14,000 | 13,000 | 13,000 | 13,000 | 13,000 | 13,000 | 13,000 | 13,000 | 13,000 | 13,000 | 10,000 | |
treasury stock | -419,000 | -3,761,000 | ||||||||||||
additional paid-in capital | 975,492,000 | 972,156,000 | 969,617,000 | 963,965,000 | 954,928,000 | 953,046,000 | 944,477,000 | 938,906,000 | 943,517,000 | 938,888,000 | 932,867,000 | 928,623,000 | 527,626,000 | 252,439,000 |
accumulated deficit | -40,306,000 | -33,699,000 | -27,988,000 | -15,287,000 | -11,261,000 | -14,274,000 | -17,645,000 | -19,596,000 | -24,594,000 | -44,486,000 | -54,469,000 | -64,137,000 | -58,939,000 | -313,656,000 |
accumulated other comprehensive income | 4,531,000 | 2,505,000 | 6,361,000 | 5,497,000 | 3,341,000 | 7,343,000 | 9,490,000 | 9,221,000 | 6,966,000 | 1,537,000 | ||||
total agiliti, inc. and subsidiaries equity | 939,731,000 | 940,557,000 | 944,243,000 | 954,188,000 | 947,021,000 | 946,128,000 | 936,335,000 | 928,544,000 | 925,902,000 | 895,952,000 | 875,830,000 | 861,881,000 | 465,929,000 | |
noncontrolling interest | 302,000 | 266,000 | 240,000 | 225,000 | 177,000 | 197,000 | 151,000 | 166,000 | 116,000 | 120,000 | 123,000 | 118,000 | 124,000 | 191,000 |
total equity | 940,033,000 | 940,823,000 | 944,483,000 | 954,413,000 | 947,198,000 | 946,325,000 | 936,486,000 | 928,710,000 | 926,018,000 | 896,072,000 | 875,953,000 | 861,999,000 | 466,053,000 | |
total liabilities and equity | 2,408,272,000 | 2,398,944,000 | 2,419,122,000 | 2,427,508,000 | 2,443,409,000 | 2,444,107,000 | 2,417,661,000 | 2,439,337,000 | 2,487,261,000 | 2,515,747,000 | 2,284,453,000 | 2,258,694,000 | 2,195,836,000 | |
the accompanying notes are an integral part of these consolidated financial statements. | ||||||||||||||
deferred revenue | 9,279,000 | 9,207,000 | 11,356,000 | |||||||||||
other accrued expenses | 25,883,000 | 26,767,000 | 29,539,000 | 27,900,000 | 24,111,000 | 25,315,000 | 29,394,000 | 21,029,000 | ||||||
| ||||||||||||||
property and equipment: | ||||||||||||||
medical equipment | 359,284,000 | 301,189,000 | 303,160,000 | 295,398,000 | 674,061,000 | |||||||||
property and office equipment | 174,669,000 | 140,138,000 | 131,562,000 | 124,054,000 | 117,792,000 | |||||||||
accumulated depreciation | -275,583,000 | -251,530,000 | -232,776,000 | -208,484,000 | -582,610,000 | |||||||||
total property and equipment | 258,370,000 | 189,797,000 | 201,946,000 | 210,968,000 | 209,243,000 | |||||||||
other long-term assets: | ||||||||||||||
equity | ||||||||||||||
accumulated other comprehensive loss | -2,581,000 | -2,618,000 | -2,768,000 | -6,633,000 | ||||||||||
cash | 7,340,000 | |||||||||||||
liabilities and deficit | ||||||||||||||
book overdrafts | ||||||||||||||
pension and other long-term liabilities | 10,659,000 | |||||||||||||
deficit | ||||||||||||||
common stock, 0.01 par value... | ||||||||||||||
total agiliti health, inc. and subsidiaries deficit | -67,850,000 | |||||||||||||
total deficit | -67,659,000 | |||||||||||||
total liabilities and deficit | 744,958,000 | |||||||||||||
revenue | 565,246,000 | |||||||||||||
cost of revenue | 367,837,000 | |||||||||||||
gross margin | 197,409,000 | |||||||||||||
selling, general and administrative | 137,210,000 | |||||||||||||
gain on settlement | -26,391,000 | |||||||||||||
intangible asset impairment charge | 131,100,000 | |||||||||||||
operating income | -44,510,000 | |||||||||||||
interest expense | 53,390,000 | |||||||||||||
income before income taxes and noncontrolling interest | -97,900,000 | |||||||||||||
benefit for income taxes | -66,348,000 | |||||||||||||
consolidated net income | -31,552,000 | |||||||||||||
net income attributable to noncontrolling interest | 327,000 | |||||||||||||
net income attributable to agiliti health, inc. and subsidiaries | -31,879,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||
consolidated net income | -6,516,000 | -5,619,000 | -12,622,000 | -3,928,000 | 3,050,000 | 3,471,000 | 1,989,000 | 5,063,000 | 19,920,000 | 9,728,000 | -5,171,000 | 9,583,000 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||
depreciation | 20,980,000 | 20,819,000 | 20,272,000 | 19,538,000 | 19,620,000 | 18,829,000 | 19,090,000 | 23,914,000 | 22,498,000 | 25,365,000 | 26,667,000 | 26,217,000 |
amortization | 20,675,000 | 23,206,000 | 23,619,000 | 23,385,000 | 23,473,000 | 24,198,000 | 24,135,000 | 23,761,000 | 23,358,000 | 22,527,000 | 22,556,000 | 18,399,000 |
remeasurement of tax receivable agreement | 267,000 | 4,148,000 | ||||||||||
benefit from credit losses | -1,371,000 | -81,000 | 2,045,000 | -63,000 | 404,000 | 3,102,000 | 522,000 | |||||
benefit from inventory obsolescence | 945,000 | 8,000 | 588,000 | 340,000 | 789,000 | 175,000 | 291,000 | 243,000 | 325,000 | 313,000 | 694,000 | 1,532,000 |
non-cash share-based compensation expense | 4,238,000 | 4,325,000 | 5,387,000 | 3,585,000 | 6,889,000 | 3,709,000 | 4,860,000 | 5,569,000 | 4,637,000 | 4,361,000 | 3,354,000 | 2,412,000 |
gain on sales and disposals of equipment | -279,000 | 98,000 | -252,000 | -426,000 | -751,000 | -308,000 | -537,000 | 337,000 | -593,000 | -3,099,000 | -193,000 | -647,000 |
deferred income taxes | -6,767,000 | -2,011,000 | -3,310,000 | -7,771,000 | -4,229,000 | 4,657,000 | -798,000 | -6,965,000 | 4,398,000 | 7,346,000 | 762,000 | 3,932,000 |
changes in operating assets and liabilities: | ||||||||||||
accounts receivable | -28,877,000 | -2,450,000 | 5,233,000 | 3,384,000 | -15,497,000 | -7,396,000 | 12,253,000 | -2,621,000 | -6,212,000 | -36,352,000 | 3,149,000 | 2,898,000 |
inventories | -12,467,000 | 5,394,000 | -622,000 | -5,920,000 | -4,399,000 | -5,649,000 | -2,141,000 | -3,426,000 | -972,000 | 2,655,000 | -5,055,000 | 3,641,000 |
other operating assets | 5,431,000 | -7,160,000 | 1,283,000 | 415,000 | 3,930,000 | -2,578,000 | -6,987,000 | -1,711,000 | 1,132,000 | -4,980,000 | -638,000 | 226,000 |
accounts payable | 7,386,000 | -10,457,000 | 928,000 | 2,671,000 | 7,935,000 | 2,630,000 | 4,421,000 | 3,351,000 | 5,351,000 | -651,000 | 3,991,000 | 1,361,000 |
accrued and other operating liabilities | 10,117,000 | -5,459,000 | 23,111,000 | -12,132,000 | 13,682,000 | |||||||
net cash from operating activities | 13,762,000 | 21,655,000 | 65,742,000 | 27,523,000 | 54,896,000 | 37,875,000 | 60,763,000 | 34,014,000 | 67,124,000 | 30,905,000 | 44,599,000 | 62,909,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 13,762,000 | 21,655,000 | 65,742,000 | 27,523,000 | 54,896,000 | 37,875,000 | 60,763,000 | 34,014,000 | 67,124,000 | 30,905,000 | 44,599,000 | 62,909,000 |
cash flows from investing activities: | ||||||||||||
medical equipment purchases | -11,870,000 | -16,158,000 | -10,448,000 | -13,384,000 | -12,128,000 | -18,370,000 | -14,671,000 | -12,818,000 | -10,005,000 | -7,643,000 | -11,854,000 | -4,415,000 |
property and office equipment purchases | -6,674,000 | -9,151,000 | -9,375,000 | -8,970,000 | -6,734,000 | -11,226,000 | -7,598,000 | -7,561,000 | -5,215,000 | -4,927,000 | -6,697,000 | -3,915,000 |
proceeds from disposition of property and equipment | 806,000 | 779,000 | 1,001,000 | 1,082,000 | 1,033,000 | 268,000 | 932,000 | 1,119,000 | 644,000 | 6,174,000 | 1,010,000 | 1,003,000 |
intangible asset purchases | -27,000 | |||||||||||
net cash from investing activities | -17,765,000 | -25,969,000 | -18,822,000 | -21,272,000 | -17,829,000 | -88,562,000 | -21,337,000 | -22,385,000 | -14,576,000 | -6,396,000 | -17,541,000 | -457,525,000 |
cash flows from financing activities: | ||||||||||||
proceeds under debt arrangements | 70,000,000 | 36,000,000 | 58,000,000 | 1,121,937,000 | 87,000,000 | 40,000,000 | 0 | |||||
payments under debt arrangements | -65,688,000 | -38,688,000 | -78,000,000 | -1,122,200,000 | -82,849,000 | -13,850,000 | -22,349,000 | |||||
payments of principal under finance lease liability | -2,351,000 | -2,460,000 | -2,355,000 | -2,390,000 | -2,297,000 | -2,136,000 | -2,192,000 | -2,261,000 | -2,223,000 | -2,451,000 | -2,219,000 | -2,051,000 |
payments of deferred financing costs | -871,000 | -1,000 | -89,000 | |||||||||
payments under tax receivable agreement | -10,938,000 | 0 | 0 | 0 | -24,822,000 | -748,000 | ||||||
distributions to noncontrolling interests | -55,000 | -66,000 | -64,000 | -50,000 | -57,000 | -54,000 | -53,000 | -15,000 | -32,000 | -55,000 | -33,000 | -50,000 |
proceeds from exercise of stock options | 1,150,000 | 387,000 | 568,000 | 1,633,000 | 469,000 | 152,000 | 978,000 | |||||
dividend and equity distribution payment | 0 | 0 | 0 | -321,000 | 0 | -2,000 | -924,000 | |||||
shares forfeited for taxes | -1,908,000 | -9,000 | -46,000 | -932,000 | -5,314,000 | -59,000 | -121,000 | |||||
net cash from financing activities | -10,661,000 | -6,035,000 | -25,747,000 | -11,491,000 | -28,191,000 | 24,053,000 | -23,739,000 | -47,208,000 | -74,770,000 | -4,466,000 | 63,284,000 | 201,439,000 |
net change in cash and cash equivalents | -14,664,000 | -10,349,000 | 21,173,000 | -5,240,000 | 8,876,000 | -26,634,000 | 15,687,000 | -35,579,000 | -22,222,000 | 20,043,000 | 90,342,000 | -193,177,000 |
cash and cash equivalents at the beginning of period | 20,037,000 | 0 | 0 | 0 | 5,577,000 | 0 | 0 | 0 | 74,325,000 | 0 | 0 | 206,505,000 |
cash and cash equivalents at the end of period | 5,373,000 | -10,349,000 | 21,173,000 | -5,240,000 | 14,453,000 | -26,634,000 | 15,687,000 | -35,579,000 | 52,103,000 | 20,043,000 | 90,342,000 | 13,328,000 |
supplemental cash flow information: | ||||||||||||
interest paid | 22,050,000 | 21,914,000 | 8,725,000 | 15,723,000 | 14,622,000 | 12,559,000 | 11,050,000 | 9,641,000 | 9,523,000 | 9,974,000 | 11,271,000 | 19,746,000 |
income taxes paid | 88,000 | 732,000 | 1,594,000 | 9,451,000 | 39,000 | 1,671,000 | 1,547,000 | 1,106,000 | ||||
loss on extinguishment / modification of debt | 0 | 82,000 | ||||||||||
acquisitions, net of cash acquired | -59,214,000 | 0 | -450,198,000 | |||||||||
proceeds from issuance of common stock | ||||||||||||
purchases of treasury stock | 0 | |||||||||||
stock issuance costs | ||||||||||||
acquisition holdback and contingent consideration | ||||||||||||
the accompanying notes are an integral part of these consolidated financial statements. | ||||||||||||
payments of contingent consideration | 0 | 0 | ||||||||||
loss on extinguishment of debt | 0 | 0 | ||||||||||
other operating liabilities | 3,665,000 | -15,225,000 | -6,691,000 | 2,947,000 | -13,985,000 | -10,811,000 | ||||||
benefit from credit (gains) losses | -27,000 | |||||||||||
proceeds under revolver | ||||||||||||
proceeds under term loan | ||||||||||||
payments under term loan | ||||||||||||
| ||||||||||||
income taxes (refund) paid | 604,000 | -715,000 | ||||||||||
remeasurement of tax receivable agreement and contingent consideration | ||||||||||||
benefit from doubtful accounts | 548,000 | 555,000 | 18,000 | |||||||||
payments under revolver | ||||||||||||
change in book overdrafts | ||||||||||||
proceeds under new revolver | 10,000,000 | |||||||||||
payments under new revolver | ||||||||||||
proceeds under new term loan | 198,052,000 | |||||||||||
payments under new term loan | -2,840,000 | |||||||||||
collection of note receivable from officer | ||||||||||||
acquisition of agiliti health, inc. by thl shareholders | ||||||||||||
payments under senior secured credit facility | ||||||||||||
repayments of 2012 notes | ||||||||||||
shares repurchased | ||||||||||||
redemption of warrants | ||||||||||||
contribution from new members to limited liability company | ||||||||||||
intangible asset impairment charge | ||||||||||||
gain on settlement | ||||||||||||
amortization of intangibles, contract costs, deferred financing costs and bond premium | ||||||||||||
interest on note receivable | ||||||||||||
issuance of note receivable from officer | ||||||||||||
acquisitions and refund of escrow | ||||||||||||
proceeds under senior secured credit facility | ||||||||||||
payments of principal under capital lease obligations | ||||||||||||
payment of deferred financing costs | ||||||||||||
holdback and earn-out payments related to acquisitions | ||||||||||||
dividend and equity distribution payments | ||||||||||||
proceeds from exercise of parent company stock options | ||||||||||||
contribution from parent | ||||||||||||
non-cash activities: | ||||||||||||
medical equipment purchases included in accounts payable | ||||||||||||
capital lease additions |