NYSE$ATIP
ATI Physical Therapy Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
ATI Physical Therapy's financial performance improved with increased revenue and Adjusted EBITDA compared to Q3 2023. However, liquidity concerns remain.
ATI Physical Therapy reported a 7.1% increase in net revenue to $190.0 million for Q3 2024, compared to $177.5 million in Q3 2023. Adjusted EBITDA increased by 28.8% to $12.1 million. The company's liquidity position requires additional capital or financing to fund operations.
- Net revenue increased by 7.1% year-over-year, reaching $190.0 million.
- Visits per Day (VPD) increased by 6.1% to 24,860.
- Adjusted EBITDA increased by 28.8% to $12.1 million, with a margin of 6.4%.
- The company is projecting Q4 revenue to be in the range of $182 million to $192 million.
Headline financials
Revenue & EPS history
ATI · Revenue · Quarterly
$190M
Revenue by segment
ATI · $177M total across 2 segments · Q3 2023
- Net Patient Revenue$162M+14.0%91.4%
- Other Revenue$15.2M+5.0%8.6%
Forward guidance
For the fourth quarter of 2024, ATI expects net revenue to be in the range of $182 million to $192 million and Adjusted EBITDA to be in the range of $9 million to $14 million.
Tailwinds
- Anticipates continued growth in patient visits through 2024.
- Focus on commercial strategies.
- Focus on people strategies.
- Focus on operations strategies.
- Projecting Q4 revenue between $182 million and $192 million
Headwinds
- Liquidity position requires additional capital or financing.
- Uncertainty regarding the company's ability to continue as a going concern.
- Dependence on governmental and third-party private payors for reimbursement.
- Competition in a rapidly changing industry.
- Potential for adverse findings from inspections, reviews, audits, and investigations.
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 2024
-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
| Quarter | Report date | Reaction (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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