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Clinigence Holdings (NUTX)
NASDAQ:NUTX
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Clinigence Holdings
(NASDAQ:NUTX)
71Outperform
Positive Factors
Financial Position
Nutex holds more cash than long-term debt, which reflects a strong financial position.
Market Positioning
NUTX's unique positioning in the large US emergency healthcare market presents a strong foundation for driving long-term growth, justifying trading inline with larger competitors.
Revenue Growth
Nutex reported revenue of $257.6M, significantly higher than the previous year's $69.7M, driven by successful rate arbitration with payers.
Negative Factors
Financial Performance
The company recognized a significant non-cash warrant liability expense, contributing to a worse-than-expected loss per share.
Valuation Concerns
Shares currently trade at an EV/revenue multiple of 0.4x our 2025 estimate, below the peer average of 1.6x, excluding NUTX.
Clinigence Holdings (NUTX) vs. S&P 500 (SPY)
Market Cap
$396.22M
Dividend YieldN/A
Average Volume (3M)59.90K
Price to Earnings (P/E)7.7
Beta (1Y)1.30
Revenue Growth93.80%
EPS GrowthN/A
CountryUS
Employees800
SectorHealthcare
Sector Strength79
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)9.27
Shares Outstanding5,528,448
10 Day Avg. Volume90,317
30 Day Avg. Volume59,903
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.08
Price to Cash Flow (P/CF)11.70
P/FCF Ratio3.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$67.50Price Target Upside-5.42% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Clinigence Holdings Business Overview & Revenue Model
Company DescriptionNutex Health, Inc. operates as a technology-enabled healthcare services company. It operates through two divisions: Hospital division and Population Health Management division. The Hospital division implements and operates health care models, including micro-hospitals, specialty hospitals, and hospital outpatient departments. This division owns and operates 21 facilities in 8 states. The Population Health Management division owns and operates provider networks, such as independent physician associations. Its management services organizations provide management, administrative, and other support services to its affiliated hospitals and physician groups. This division's cloud-based proprietary technology platform aggregates data across multiple information systems, settings, and sources to create a holistic view of each patient and provider, as well as allows to deliver care. The company is based in Houston, Texas.
How the Company Makes MoneyClinigence Holdings makes money primarily through the sale of its technology solutions to healthcare providers and organizations. The company's revenue model includes subscription-based fees for its software platforms, which offer analytics and population health management tools. Additionally, Clinigence may generate income through consulting services and partnerships with healthcare providers who seek to implement value-based care initiatives. These revenue streams are supported by the company's ability to deliver actionable insights and data-driven strategies that help healthcare organizations improve efficiency and patient outcomes.
Clinigence Holdings Financial Statement Overview
Summary
Nutex Health has shown significant revenue growth and improvements in cash flow management. However, persistent net losses and high leverage pose substantial risks, and profitability metrics remain weak, reflecting operational challenges.Income Statement
The company experienced significant revenue growth from the previous period, but its profitability metrics are concerning, with a substantial net loss in the TTM period. Gross profit margin improved to 23.2% in TTM from 14% in the prior year, indicating better cost management, but the net profit margin is severely negative due to high net losses. EBIT and EBITDA margins are also low, reflecting operational inefficiencies.30
Negative
Balance Sheet
The company's financial leverage is moderate with a debt-to-equity ratio of 5.02 in TTM, indicating a high level of debt relative to equity, which poses potential risks. The equity ratio has decreased to 13.8% in TTM, suggesting a reliance on debt financing. Return on Equity (ROE) is negative due to net losses, pointing to challenges in generating returns for shareholders.45
Neutral
Cash Flow
The cash flow statement shows a strong operating cash flow in TTM, but the operating cash flow to net income ratio is not meaningful due to the net loss. Free cash flow has significantly improved, indicating better cash management, but the historical volatility in cash flows suggests potential liquidity risks.60
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 292.00M | 247.65M | 219.29M | 331.53M | 273.42M | 97.06M | Gross Profit |
| 67.85M | 34.77M | 13.45M | 179.28M | 271.60M | 95.40M | EBIT |
| 27.16M | -31.77M | -5.14M | 170.26M | 152.33M | 34.71M | EBITDA |
| 7.95M | -14.58M | -393.96M | 183.45M | -5.12M | -6.84M | Net Income Common Stockholders |
| -8.82B | -45.79M | -432.74M | 132.59M | 105.97M | 16.48M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 789.28K | 22.00M | 34.26M | 36.12M | 25.51M | 8.00M | Total Assets |
| 2.00M | 398.25M | 431.75M | 394.65M | 308.55M | 179.22M | Total Debt |
| 0.00 | 275.76M | 267.20M | 178.55M | 150.12M | 119.94M | Net Debt |
| -789.28K | 253.75M | 232.95M | 142.43M | 124.61M | 111.94M | Total Liabilities |
| 178.60K | 319.14M | 311.42M | 203.07M | 161.19M | 128.39M | Stockholders Equity |
| 1.98M | 61.45M | 95.86M | 114.65M | 85.81M | 28.31M |
| Cash Flow | Free Cash Flow | ||||
| 23.11B | -8.24M | 35.97M | 136.51M | 20.07M | -20.15M | Operating Cash Flow |
| 23.11B | 1.26M | 50.61M | 173.43M | 81.26M | 12.12M | Investing Cash Flow |
| -1.40M | -11.24M | -4.34M | -36.98M | -61.19M | -31.23M | Financing Cash Flow |
| 162.80K | -2.27M | -48.13M | -125.85M | -2.56M | 21.71M |
Clinigence Holdings Technical Analysis
Positive
71.37
Price Trends
54.58
Positive
44.13
Positive
30.05
Positive
Market Momentum
2.09
Negative
65.03
Neutral
37.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NUTX, the sentiment is Positive. The current price of 71.37 is above the 20-day moving average (MA) of 56.34, above the 50-day MA of 54.58, and above the 200-day MA of 30.05, indicating a bullish trend. The MACD of 2.09 indicates Negative momentum. The RSI at 65.03 is Neutral, neither overbought nor oversold. The STOCH value of 37.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NUTX.
Clinigence Holdings Risk Analysis
Clinigence Holdings disclosed 62 risk factors in its most recent earnings report. Clinigence Holdings reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Clinigence Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $396.22M | 7.70 | 50.22% | ― | 93.80% | ― | |
60 Neutral | $221.94M | ― | -36.07% | ― | ― | -7.93% | |
48 Neutral | $6.86B | 1.11 | -50.22% | 2.47% | 16.71% | 1.53% | |
48 Neutral | $247.92M | ― | -79.69% | ― | -33.43% | 8.94% | |
43 Neutral | $287.79M | ― | 344.74% | ― | 17.91% | -10.55% | |
42 Neutral | $228.92M | ― | -39.07% | ― | ― | 0.42% | |
41 Neutral | $247.99M | ― | -139.56% | ― | ― | -33.79% |
* Healthcare Sector Average
Performance Comparison
NUTX
Clinigence Holdings
71.37
59.94
524.41%
ATYR
aTyr Pharma
2.62
0.79
43.17%
IVA
Inventiva
3.06
-0.80
-20.73%
CMPX
Compass Therapeutics
1.46
-0.24
-14.12%
OLMA
Olema Pharmaceuticals
3.25
-8.02
-71.16%
CADL
Candel Therapeutics
4.82
-1.61
-25.04%
Clinigence Holdings Earnings Call Summary
Earnings Call Date: Mar 31, 2025 | % Change Since: 51.75% | Next Earnings Date: May 19, 2025
Earnings Call Sentiment Positive
The call highlighted strong financial growth, successful arbitration outcomes, and effective debt management, despite challenges posed by the No Surprises Act and the operational burden of the arbitration process.Highlights
Exceptional Revenue Growth
For the full year of 2024, total revenue reached $479.9 million, up 94% from $247.6 million in 2023.
Significant EBITDA Increase
Adjusted EBITDA increased from $10.8 million in 2023 to $123.7 million in 2024, up over 1,000%.
Net Income Turnaround
Full year 2024 net income was $52 million compared to a loss of $46 million in 2023.
Hospital Expansion
Opened four new hospitals in 2024, bringing the total to 24 hospitals across 11 states.
Debt Management
Long-term debt decreased from $26 million in 2023 to $22 million in 2024, emphasizing fiscal responsibility.
Arbitration Process Success
Achieved an 80% win rate in arbitration, resulting in significant revenue recovery, with a 150% to 250% increase in reimbursement on the facility collection side.
Lowlights
Impact of No Surprises Act
The flawed implementation of the No Surprises Act and its arbitration process has hit revenue per patient reimbursement hard, with insurer payments for emergency services dropping roughly 30% in 2022.
Arbitration Process Challenges
The arbitration process is costly, labor-intensive, and time-consuming, posing a significant operational challenge.
Company Guidance
During the Nutex Health Fourth Quarter 2024 Earnings Call, significant financial metrics were highlighted, demonstrating the company's robust performance. Total revenue for the full year reached $479.9 million, marking a 94% increase from 2023's $247.6 million. The adjusted EBITDA saw an impressive surge from $10.8 million in 2023 to $123.7 million in 2024, reflecting a growth of over 1,000%. Net income also improved, reaching $52 million in 2024, compared to a loss of $46 million the previous year. Patient volume rose by 17%, with total hospital visits increasing from 144,000 in 2023 to 168,000 in 2024, driven by a 6.5% growth from mature hospitals. Despite opening four new hospitals, long-term debt was efficiently managed, increasing only slightly in the current portion from $10.8 million in 2023 to $14 million in 2024, while net long-term debt decreased from $26 million to $22 million. These metrics underscore Nutex Health's successful expansion strategy and fiscal discipline amidst challenges like the No Surprises Act and its arbitration process.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.