Strong Revenue and EBITDA Growth
Revenue for Q3 2024 was $375.4 million, up 11.4% from Q3 2023. Adjusted EBITDA was $68.9 million, an increase of 13.1% over the same period.
Improved Free Cash Flow Conversion
Free cash flow conversion improved to 63% on an LTM basis, up from 58% in Q3 2023.
Successful M&A Activity
Acquired 4 practices for $16 million, expected to generate $2.3 million in pro forma adjusted EBITDA. Completed 9 acquisitions post-quarter-end, reaching the annual target of $20 million in acquired EBITDA.
Strategic Partnerships and Innovations
Formed a strategic partnership with VideaHealth to deploy AI technology across the network, enhancing clinical excellence and business efficiencies.
Deleveraging Efforts
Net leverage reduced to 4.0x, down 0.4x from the previous year, marking the fourth consecutive quarter of deleveraging.
Positive Outlook for Q4 2024
Anticipated revenue growth of 8% to 10% over Q4 2023, with adjusted EBITDA margins expected to increase by 20 basis points.