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Mar 31, 2021
Option Care Health Q1 2021 Earnings Report
Announced financial results, demonstrating revenue growth and increased adjusted EBITDA.
Key Takeaways
Option Care Health reported a 7.6% increase in net revenue to $759.2 million and a 30.0% increase in Adjusted EBITDA to $52.2 million compared to the first quarter of 2020. The company experienced a net loss of $2.9 million, or $0.02 loss per share, improved from a net loss of $19.9 million, or $0.11 loss per share, in the same period last year.
Net revenue increased by 7.6% to $759.2 million compared to Q1 2020.
Gross profit rose by 4.7% to $165.5 million, representing 21.8% of net revenue.
Net loss improved to $2.9 million, or $0.02 loss per share, compared to a $19.9 million loss in Q1 2020.
Adjusted EBITDA increased by 30.0% to $52.2 million compared to Q1 2020.
Option Care Health
Option Care Health
Forward Guidance
Option Care Health is maintaining its previously-communicated guidance with the exception of the expected range for Adjusted EBITDA. The Company is raising its expectation for Adjusted EBITDA to $248.0 million to $260.0 million, from a previous expected range of $245.0 million to $258.0 million. Expectations for net revenue, cash flow from operations and leverage ratio remain consistent with previous guidance communications.
Positive Outlook
- Adjusted EBITDA guidance raised to $248.0 million - $260.0 million.
- Net revenue expectations maintained.
- Cash flow from operations expectations maintained.
- Leverage ratio expectations maintained.
- Integration efforts are progressing well.
Challenges Ahead
- Changes in laws and regulations applicable to our business model
- Changes in market conditions and receptivity to our services and offerings
- Results of litigation
- The loss of one or more key payers
- The spread and impact of the COVID-19 pandemic