Significant Revenue Growth
Revenue for the third quarter was approximately $622 million, representing a 22.2% increase over the prior year period.
Strong EBITDA Performance
Third quarter adjusted EBITDA was $80.1 million, representing a 67.5% increase over the prior year period, driven by improved rate and volume environment and cost savings initiatives.
Preferred Payer Strategy Success
Preferred payer agreements increased from 22 to 30, with preferred payer volumes accounting for approximately 56% of total PDS MCO volumes.
Home Health and Hospice Growth
Home Health and Hospice revenue grew by 15.3% compared to the prior year quarter, with a gross margin of 53.3%.
Thrive Skilled Pediatrics Integration
Integration of Thrive Skilled Pediatrics is on target to be completed by the end of the year, contributing positively to 2025 results.
Improved Cash Flow and Liquidity
Cash generated by operating activities was $76.1 million, and free cash flow was $86.2 million with liquidity of approximately $479 million.