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DFPH (DFPH) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details DFPH's operations, which include managing community-based oncology practices across 16 markets and five states in the United States. The company operates 86 clinic locations and employs 130 oncologists and advanced practice providers.
DFPH reported a net loss of $64.7 million for the year ended December 31, 2024, compared to a net loss of $83.1 million in the previous year. The company attributes the reduced loss to lower selling, general, and administrative expenses.
Total operating revenue for the year was $393.4 million, a 21.3% increase from $324.2 million in 2023. This increase was primarily driven by a 73.3% rise in dispensary revenue.
Patient services revenue decreased by 4.0% to $204.9 million, largely due to a decrease in fee-for-service revenue and a slight decline in capitation revenue.
DFPH's operating expenses totaled $453.5 million, up 13.0% from the previous year. The increase was mainly due to higher direct costs for dispensary operations.
The company holds a significant amount of goodwill and intangible assets, totaling $22.0 million as of December 31, 2024. No impairment charges were recorded for goodwill in 2024, following a $16.9 million impairment charge in 2023.
DFPH's cash and cash equivalents increased to $49.7 million as of December 31, 2024, from $33.5 million at the end of 2023. The increase was due to cash provided by investing activities, offset by cash used in operating activities.
The company has a senior secured convertible note of $110 million, maturing in 2027. The note bears interest at 4.00% per annum, with certain conversion and redemption options.
DFPH continues to focus on its growth strategy, which includes expanding its network of oncology care clinics and entering new geographical markets.
The company is subject to various risks, including changes in healthcare regulations, competition, and the ability to attract and retain qualified personnel.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DFPH annual 10-K report dated March 26, 2025. To report an error, please email earnings@qz.com.