NYSE$ATIP

ATI Physical Therapy Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

ATI Physical Therapy reported third quarter 2021 results, which included a net operating revenue of $159.0 million and an Adjusted EBITDA of $8.5 million.

ATI Physical Therapy reported financial results for the third quarter ended September 30, 2021. Net operating revenue was $159.0 million, and Adjusted EBITDA was $8.5 million.

  • Net operating revenue was $159.0 million, an increase of 7.0% year over year.
  • Net patient revenue was $141.9 million, an increase of 6.8% year over year.
  • Visits per Day (VPD) were 20,674, an increase of 13.8% year over year.
  • The company had $135 million of available liquidity as of September 30, 2021.

Headline financials

Total Revenue

$159M

No prior period
EPS (adj)

-$84.00

No prior period
Visits per Day

20.7K

No prior period
VPD per Clinic

23.1

No prior period
Rate per Visit

$105.56

No prior period
Net Promotor Score

73

No prior period
Google Star Rating

4.9

No prior period
Capital Expenditures

$9.52M

No prior period
Free Cash Flow

-$21.1M

No prior period
Net Income

-$326M

No prior period
Operating Income

-$509M

No prior period
Gross Profit

$26.4M

No prior period
Cash & Equivalents

$66.1M

No prior period
Total Assets

$1.57B

No prior period
Stock-Based Comp

$1.25M

No prior period

Revenue & EPS history

ATI · Revenue · Quarterly

$159M

Q3 2021
Beat estimate in 7 of 14 quarters(50%)
ActualEstimate

Revenue by segment

ATI · $159M total across 2 segments · Q3 2021

  • Net Patient Revenue
    $142M
  • Other Revenue
    $17.2M

Forward guidance

ATI is projecting revenue to be in a range of $620 million to $630 million and Adjusted EBITDA to be in a range of $40 million to $44 million. ATI expects to open 55 to 65 new clinics in 2021.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 16 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

-1.1%

Avg return

Earnings day

-4.5%

Avg return

5 days after

-13.0%

Avg return

30 days after

50%

9 / 18 earnings

Positive

+50.0%

Q4 2022

Best reaction

-43.8%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2025+4.5%+0.0%-5.6%
Q3 2024-43.8%-53.5%-81.8%
Q2 2024-7.3%-4.9%-8.6%
Q1 2024+1.1%-13.0%-27.9%
Q4 2023+7.9%+2.8%-13.0%
Q3 2023+4.7%-4.5%-9.5%
Q2 2023+2.0%+15.5%+20.1%
Q1 2023-0.3%-2.3%+1.9%
Q4 2022+50.0%+36.0%+8.8%
Q3 2022-37.2%-37.4%-73.4%
Q2 2022-7.1%-15.2%-5.4%
Q1 2022+2.7%-2.1%-10.6%
Q4 2021-9.2%-8.2%-4.6%
Q4 2019-9.2%-8.2%-4.6%
Q3 2021+27.6%+29.5%+19.2%
Q2 2021-6.3%-6.6%-12.4%
Q1 2021+0.1%
Q4 2020-0.5%
Q2 2020
Q1 2020

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