ATI Physical Therapy Inc

NYSE:ATIPUnited States

Nov 4, 2024

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• -- Earnings Flash (ATIP) ATI PHYSICAL THERAPY Posts Q3 Revenue $190M, from 4:19PM ET on Monday Nov 04, 2024 by MT Newswires

  4:19PM ET on Monday Nov 04, 2024 by MT Newswires
  Companies Mentioned: ATIP
  04:19 PM EST, 11/04/2024 (MT Newswires) -- ...

• ATI Physical Therapy Reports Third Quarter 2024 Results, from 4:05PM ET on Monday Nov 04, 2024 by PR Newswire

  4:05PM ET on Monday Nov 04, 2024 by PR Newswire
  Companies Mentioned: ATIP

  ATI Physical Therapy, Inc. (NYSE: ATIP) ("ATI" or the "Company"), a nationally recognized outpatient physical therapy provider in the United States, today reported financial results for the third quarter ended September 30, 2024.

• ATI Physical Therapy Reports Third Quarter 2024 Results, from 4:05PM ET on Monday Nov 04, 2024 by Dow Jones

  4:05PM ET on Monday Nov 04, 2024 by Dow Jones
  Companies Mentioned: ATIP
  liability and contingent common shares liability (2) (10,357) (7,720) (2,680) (26,011) Loss on debt extinguishment (3) -- -- -- 2,809 Loss on legal settlement (4) -- -- 3,000 -- Share-based compensation 1,544 1,920 2,004 1,964 Non-ordinary legal and regulatory matters (5) 937 772 2,202 2,497 Pre-opening de novo costs (6) 101 224 286 381 Transaction costs (7) 1,093 55 603 1,538 Reorganization and severance costs (8) 1,797 -- -- -- Non-recurring labor related credits (9) (105) -- -- -- Gain on sale of Home Health service line, net -- -- -- (199) ---------------- ----------------- ---------------- ---------------- Adjusted EBITDA $ 6,363 $ (392) $ 5,436 $ (4,695) ================ ================= ================ ================ Adjusted EBITDA margin 3.9 % (0.3) % 3.3 % (3.1) % (1) Represents non-cash charges related to the write-down of goodwill, trade name indefinite-lived intangible and other assets. (2) Represents non-cash amounts related to the change in the estimated fair value of IPO Warrants, Earnout Shares and Vesting Shares. (3) Represents charges related to the derecognition of the unamortized deferred financing costs and original issuance discount associated with the full repayment of the 2016 first lien term loan. (4) Represents charge for net settlement liability related to billing dispute. (5) Represents non-ordinary course legal costs related to the previously disclosed ATIP stockholder class action complaints, derivative complaint, and SEC matter. (6) Represents expenses associated with renovation, equipment and marketing costs relating to the start-up and launch of new locations incurred prior to opening. (7) Represents costs related to the Business Combination with FVAC II and non-capitalizable debt and capital transaction costs. (8) Represents severance, consulting and other costs related to discrete initiatives focused on reorganization and delayering of the Company's labor model, management structure and support functions. (9) Represents realized benefit of labor related credit, that was not previously considered probable and relates to prior years.