Addus HomeCare Files Q3 2024 10-Q

TL;DR

Addus HomeCare's Q3 2024 10-Q is in. Check financials.

AI Summary

Addus HomeCare Corp filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and business segments are presented, including information on revenue and liabilities.

Why It Matters

This filing provides investors with the latest financial health and operational performance of Addus HomeCare, crucial for understanding the company's trajectory in the home health sector.

Risk Assessment

Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial and operational information that can impact stock price.

Key Numbers

• N/A — Revenue (Specific revenue figures for Q3 2024 are not explicitly detailed in the provided snippet.)
• N/A — Net Income (Specific net income figures for Q3 2024 are not explicitly detailed in the provided snippet.)
• N/A — Total Assets (Specific total asset figures for Q3 2024 are not explicitly detailed in the provided snippet.)
• N/A — Total Liabilities (Specific total liability figures for Q3 2024 are not explicitly detailed in the provided snippet.)
• N/A — Cash Flow (Specific cash flow figures for Q3 2024 are not explicitly detailed in the provided snippet.)

Key Players & Entities

• Addus HomeCare Corp (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• 2024-11-05 (date) — Filing date
• CapitalOne (company) — Mentioned in relation to credit agreement
• 2023-04-26 (date) — Date related to credit agreement

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value ADUS The Nasdaq Stock Mar

Filing Documents

• adus-20240930.htm (10-Q) — 2818KB
• adus-ex31_1.htm (EX-31.1) — 14KB
• adus-ex31_2.htm (EX-31.2) — 15KB
• adus-ex32_1.htm (EX-32.1) — 10KB
• adus-ex32_2.htm (EX-32.2) — 10KB
• 0000950170-24-121448.txt ( ) — 10178KB
• adus-20240930.xsd (EX-101.SCH) — 1019KB
• adus-20240930_htm.xml (XML) — 2166KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Income For the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statement of Stockholders' Equity For the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows For the Nine Months Ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 37

Controls and Procedures

Item 4. Controls and Procedures 37

OTHER INFORMATION

PART II. OTHER INFORMATION 38

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 38

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 39

Other Information

Item 5. Other Information 39

Exhibits

Item 6. Exhibits 40 2 Table of Contents

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements ADDUS HOMECARE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDA TED BALANCE SHEETS As of September 30, 2024 and December 31, 2023 (Amounts and Shares in Thousands, Except Per Share Data) (Unaudited) September 30, 2024 December 31, 2023 Assets Current assets Cash $ 222,852 $ 64,791 Accounts receivable, net of allowances 96,600 115,499 Prepaid expenses and other current assets 13,362 19,714 Total current assets 332,814 200,004 Property and equipment, net of accumulated depreciation and amortization 23,716 24,011 Other assets Goodwill 663,614 662,995 Intangibles, net of accumulated amortization 86,606 91,983 Operating lease assets, net 44,535 45,433 Other long-term assets 1,616 — Total other assets 796,371 800,411 Total assets $ 1,152,901 $ 1,024,426 Liabilities and stockholders' equity Current liabilities Accounts payable $ 27,726 $ 26,183 Accrued payroll 57,982 56,551 Accrued expenses 34,257 33,236 Operating lease liabilities, current portion 11,155 11,339 Government stimulus advances 13,655 5,765 Accrued workers' compensation insurance 13,043 12,043 Total current liabilities 157,818 145,117 Long-term liabilities Long-term debt, net of debt issuance costs — 124,132 Long-term operating lease liabilities 38,608 39,711 Other long-term liabilities 8,841 8,772 Total long-term liabilities 47,449 172,615 Total liabilities $ 205,267 $ 317,732 Stockholders' equity Common stock—$ .001 par value; 40,000 authorized and 18,133 and 16,227 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively $ 18 $ 16 Additional paid-in capital 590,712 403,846 Retained earnings 356,904 302,832 Total stockholders' equity 947,634 706,694 Total liabilities and stockholders' equity $ 1,152,901 $ 1,024,426 See accomp

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View this 10-Q filing on SEC EDGAR