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BrightSpring Health Services Inc. (BTSG+1.11%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations, highlighting its focus on home and community-based healthcare services through its Pharmacy Solutions and Provider Services segments.
BrightSpring reported total revenues of $11.3 billion, representing a 27.6% increase from the previous year. The Pharmacy Solutions segment saw revenues rise by 34.2% to $8.8 billion, while the Provider Services segment increased by 9.0% to $2.5 billion.
Cost of goods sold increased by 37.1% to $8 billion, primarily driven by growth in the Pharmacy Solutions segment. Cost of services rose by 7.6% to $1.7 billion, reflecting increased activity in Provider Services.
Selling, general, and administrative expenses were $1.4 billion, up 7.4% from the previous year. This increase was attributed to growth in both segments, costs associated with the company's IPO, and non-cash share-based compensation expenses.
The company reported a net loss of $20.5 million, a significant improvement from the $156.8 million loss in the prior year. The improvement was driven by increased revenues and reduced interest expenses following debt refinancing.
Adjusted EBITDA was $588.1 million, up 9.3% from the previous year, reflecting operational growth and efficiency gains.
BrightSpring's filing also notes the pending divestiture of its Community Living business, expected to close in 2025, as part of a strategic shift to focus on its core service offerings.
The company continues to face risks related to regulatory compliance, competitive pressures, and the management of its substantial debt, which stood at $2.7 billion at year-end.
BrightSpring's management remains focused on expanding its market presence and enhancing service delivery through strategic investments and operational improvements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the BrightSpring Health Services Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.