In This Story
ATI Physical Therapy Inc. Warrants (ATIPW0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports net patient revenue of $689.962 million for the year, an increase from $636.095 million in the previous year. This growth is attributed to increased visit volumes and higher net patient revenue per visit.
The company experienced a net loss of $54.011 million, which is an improvement compared to the net loss of $66.078 million reported in the previous year.
Operating income for the year was $2.277 million, compared to an operating loss of $27.517 million in the prior year.
The filing details a change in the fair value of the company's 2L Notes, resulting in a gain of $3.926 million. This is a decrease from the $24.471 million gain reported in the previous year.
Interest expense, net for the year was $58.450 million, a slight decrease from $61.039 million in the prior year.
The company reported cash and cash equivalents of $39.080 million as of December 31, 2024, with no available capacity under its revolving credit facility.
ATI Physical Therapy continues to face liquidity challenges, with substantial doubt about its ability to continue as a going concern.
The filing notes recent developments, including the delisting of the company's Class A common stock from the NYSE and its current trading on the OTC Pink Open Market.
On March 3, 2025, the company issued $26.0 million of 2L Notes, which will mature on August 24, 2028, and bear interest at a rate of 8.0% per annum.
The company has also filed a Form 15 to terminate the registration of its common stock and public warrants under Section 12(g) of the Exchange Act, which will suspend its reporting obligations under Section 15(d) of the Exchange Act.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ATI Physical Therapy Inc. Warrants annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.