Q2 Positives & Negatives summary Positive
- Record quarterly revenue of $243.1 million, a 42% increase YoY.
- Adjusted EBITDA increased by 11% to $30.9 million.
- 1.4 million patient visits, a 38% increase YoY.
- U.S. digital revenues rose by 40% to $56.3 million.
- Raised annual revenue forecast to $970 million to $990 million.
- Generated $35.2 million in operating cash flow.
- Paid down $14 million in debt.
Negative
- Adjusted Gross Margin declined to 44.2% from 53.1%
- Adjusted Net Income decreased to $12.3 million from $14.4 million.
- Free cash flow attributable to shareholders decreased to $8.7 million from $9.4 million.
(Per the release, the declines is attributed to the acquisition of businesses in the past year that had lower gross margin percentage)