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Surgery Partners Inc. (SGRY-1.79%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing total revenues of $3.1 billion, an increase from $2.7 billion in the previous year. The increase was primarily driven by same-facility revenue growth and acquisitions completed in 2024.
Cost of revenues for the year was $2,368.7 million, representing 76.1% of revenues, compared to 76.4% in the previous year.
The company reported a net loss attributable to Surgery Partners, Inc. of $168.1 million for the year, compared to a net loss of $11.9 million in the previous year.
Adjusted EBITDA increased to $508.2 million from $438.1 million in the previous year, primarily due to revenue growth and cost management initiatives.
Cash provided by operating activities was $300.1 million, while cash used in investing and financing activities was $488.5 million and $262.0 million, respectively.
Surgery Partners had cash and cash equivalents of $269.5 million as of December 31, 2024.
The company completed the issuance and sale of $800.0 million in senior unsecured notes due 2032, using the proceeds to redeem all outstanding senior unsecured notes due 2025 and 2027.
The company acquired a controlling interest in eight surgical facilities and several physician practices for aggregate cash consideration of $378.8 million, net of cash acquired.
Surgery Partners' reportable segment is Surgical Facilities, which includes ambulatory surgery centers, surgical hospitals, anesthesia services, and multi-specialty physician practices.
The company identified a material weakness in its internal controls over financial reporting due to a lack of resources with SEC financial reporting experience.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Surgery Partners Inc. annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.