- Adeptus Health (NASDAQ:ADPT -63%) Q3 results ($M): Total Revenues: 85.4 (-3.2%); Patient Service Revenue: 70.2 (-30.7%); Management and Contract Services Revenue: 23.6 (+384.1%).
- Operating Income: (14.5) (-338.9%); Net Income: (11.7) (-885.3); Non-GAAP Net Income: 1.3 (-79.8%); EPS: (0.49) (-999%); Non-GAAP EPS: 0.06 (-80.6%); Non-GAAP EBITDA: 9.7 (-48.1%); CF Ops: (21.3) (-626.3%).
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2016 Guidance: Non-GAAP EBITDA: $70M - 80M from $110M - 115M.
- At the end of the quarter, the company's cash balance was only $6.1M with an additional $15.8M available under its revolving credit facility. Yesterday, it amended the facility to add another $25M under the term loan portion and $5M to the revolver. Also, it has secured a $27.5M investment from Sterling Partners and certain executives in the form of 27,500 shares of Series A Preferred Stock at $1,000 a share. It has engaged Goldman Sachs to explore additional financing options.