U.S. Physical Therapy | 8-K: FY2025 Q2 Revenue: USD 197.34 M

LB filings
2025.08.07 11:35
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Revenue: As of FY2025 Q2, the actual value is USD 197.34 M.

EPS: As of FY2025 Q2, the actual value is USD 0.58, missing the estimate of USD 0.67.

EBIT: As of FY2025 Q2, the actual value is USD 24.94 M.

Adjusted EBITDA

  • Adjusted EBITDA was $26.9 million for the three months ended June 30, 2025, an increase of $4.7 million, or 21.4%, from $22.1 million for the three months ended June 30, 2024.

Net Income

  • Net income attributable to USPH’s shareholders was $12.4 million for the 2025 Second Quarter compared to $7.5 million for the 2024 Second Quarter.

Operating Results

  • Operating Results was $12.4 million for the 2025 Second Quarter compared to $11.0 million for the 2024 Second Quarter, an increase of 11.8%.

Revenue

  • Total revenue from physical therapy operations for the 2025 Second Quarter increased $24.8 million, or 17.3%, to $168.3 million.
  • Industrial injury prevention services revenue was $29.1 million for the 2025 Second Quarter, an increase of 22.6% compared to the 2024 Second Quarter.

Gross Profit

  • Gross profit from physical therapy operations for the 2025 Second Quarter was $35.2 million with a gross profit margin of 20.9% compared to $28.8 million with a gross profit margin of 20.1% for the 2024 Second Quarter.
  • Gross profit from IIP operations for the 2025 Second Quarter increased $1.3 million, or 25.8%, to $6.4 million from $5.1 million for the 2024 Second Quarter.

Operating Costs

  • Operating costs from physical therapy operations increased $18.4 million, or 16.0%, to $133.1 million for the 2025 Second Quarter from $114.7 million for the 2024 Second Quarter.
  • Salaries and related costs per visit was $60.08 for the 2025 Second Quarter compared to $59.66 for the 2024 Second Quarter.
  • Total operating costs per visit was $83.95 compared to $84.46 in the prior year quarter.

Cash Flow

  • Net cash provided by operating activities was $30.2 million for the six months ended June 30, 2025, compared to $33.4 million for the six months ended June 30, 2024.
  • Net cash used in investing activities was - $19.3 million for the six months ended June 30, 2025, compared to - $48.8 million for the six months ended June 30, 2024.
  • Net cash used in financing activities was - $18.1 million for the six months ended June 30, 2025, compared to - $24.6 million for the six months ended June 30, 2024.

Outlook / Guidance

  • Management increased its guidance for Adjusted EBITDA for full-year 2025 to a range of $93.0 million to $97.0 million.
  • The annual earnings guidance figures will not be updated unless there is a material development that causes management to believe that Adjusted EBITDA will be significantly outside the given range.
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