Guardant Health Wins Fast Company's 2025 World Changing Ideas Award for Shield Blood Test for Colorectal Cancer Screening
Shield is the first blood test approved by the U.S. Food and Drug Administration (FDA) as a primary screening option for CRC. The second leading cause of cancer-related deaths in the U.S., CRC has a 91 percent five-year survival rate if caught in early stages. Yet one out of three eligible adults in the U.S. (over 50 million people) do not complete the recommended screening in part because they find the available options—colonoscopy and stool tests—unpleasant or inconvenient. With Shield, individuals can be screened with a simple blood draw during a routine office visit, helping to detect more cancers early, when they are more treatable.
"With a simple blood draw, Shield provides a more convenient and pleasant screening option for the millions of people who delay their recommended screening for colorectal cancer," said AmirAli Talasaz, Guardant Health co-founder and co-CEO. "This latest honor for Shield recognizes the groundbreaking innovation created by our team at Guardant Health and the world-changing potential of the Shield blood test. By overcoming barriers with current screening methods, we can help increase the overall screening rate, find more cancers at an early stage, and give people more time free from cancer."
A panel of Fast Company editors and reporters selected the winners from a pool of more than 1,500 entries and judged applications based on their impact, sustainability, design, creativity, scalability, and ability to improve society. This year's awards are featured on fastcompany.com.
"The World Changing Ideas Awards have always been about showcasing the art of the possible," says Fast Company editor-in-chief Brendan Vaughan. "We're proud to recognize the organizations and leaders that are making meaningful progress on the biggest issues of our time."
The Shield blood test was also named to TIME's list of the best inventions of 2024 and selected as a Grand Award Winner in Popular Science's Best of What's New 2024 (Health category). Shield is also the first blood test that is FDA approved for primary screening to be included in The National Comprehensive Cancer Network (NCCN) colorectal cancer (CRC) screening guidelines.
Shield is FDA approved for primary non-invasive screening for colorectal cancer in average-risk individuals age 45 and older and can be ordered by any prescribing healthcare provider. For more information, visit www.ShieldCancerScreen.com.
About Shield
Shield is a non-invasive, blood-based screening test that detects alterations associated with colorectal cancer in the blood. It is intended as a screening test for individuals at average risk for the disease, age 45 or older, and is not intended for individuals at high risk for colorectal cancer. The Shield test can be considered in a manner similar to guideline-recommended non-invasive CRC screening options and can be completed during any healthcare visit. A positive Shield result raises concern for the presence of colorectal cancer or advanced adenoma and the patient should be referred for colonoscopy evaluation.
About Guardant Health
Guardant Health is a leading precision oncology company focused on guarding wellness and giving every person more time free from cancer. Founded in 2012, Guardant is transforming patient care and accelerating new cancer therapies by providing critical insights into what drives disease through its advanced blood and tissue tests, real-world data and AI analytics. Guardant tests help improve outcomes across all stages of care, including screening to find cancer early, monitoring for recurrence in early-stage cancer, and treatment selection for patients with advanced cancer. For more information, visit guardanthealth.com and follow the company on LinkedIn, X (Twitter) and Facebook.
Guardant Health Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding the potential utilities, values, benefits and advantages of Guardant Health's liquid biopsy tests or assays, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors. These and additional risks and uncertainties that could affect Guardant Health's financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" and elsewhere in its Annual Report on Form 10-K for the year ended December 31, 2024, and any current and periodic reports filed with or furnished to the Securities and Exchange Commission thereafter. The forward-looking statements in this press release are based on information available to Guardant Health as of the date hereof, and Guardant Health disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Guardant Health's views as of any date subsequent to the date of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250610836481/en/
Contacts
Investor Contact: Zarak Khurshidinvestors@guardanthealth.com
Media Contact: Michael Weistpress@guardanthealth.com +1 317-371-0035
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a minute ago
- Yahoo
Bitcoin To $200,000 Is Bernstein's 'Highest Conviction,' But Solana, Ethereum Will Outperform Elsewhere
Brokerage firm Bernstein on Tuesday reaffirmed its most bullish outlook on digital assets, projecting Bitcoin (CRYPTO: BTC) to reach $200,000 while identifying Solana (CRYPTO: SOL) and Ethereum (CRYPTO: ETH) as the altcoins most likely to lead the next cycle. What Happened: The firm said, "Our highest conviction view remains Bitcoin at $200k this cycle," adding that Ethereum and Solana "are set to outperform, leading innovation and adoption in decentralized applications." Bernstein's conviction extends beyond tokens to publicly traded crypto-exposed equities and infrastructure. Analysts expressed strong support for Robinhood (NASDAQ:HOOD), Coinbase (NASDAQ:COIN), and Circle (NSYE: CRCL), viewing them as beneficiaries of growing institutional participation and mainstream adoption. The note emphasized that regulated exchanges and payment platforms are positioned to capture significant inflows as investors look for compliant access points to digital assets. The firm highlighted Robinhood's growth in crypto trading volumes as a sign of retail re-engagement, particularly after spot Bitcoin ETFs have drawn broader market attention. Coinbase was flagged as a central player in U.S. institutional custody and trading infrastructure, while Circle's USDC stablecoin was cited as a core piece of global crypto payments. Also Read: Why It Matters: Bernstein stressed that Bitcoin remains the anchor of the ecosystem but argued that Solana and Ethereum now reflect deeper structural momentum. Ethereum's scaling roadmap and Solana's growing developer traction, according to the analysts, demonstrate why both assets are "likely to take leadership roles" in the cycle rather than smaller, speculative tokens. The analysts also underlined that traditional market structures are beginning to converge with crypto-native platforms. Institutions, they said, are increasingly treating Bitcoin as a treasury asset while also allocating capital to projects building scalable, real-world applications on Ethereum and Solana. "The path to $200k for Bitcoin is also the path to altcoin leadership by ETH and SOL," Bernstein wrote. Bernstein concluded that the mix of strong Bitcoin conviction, advancing altcoin ecosystems, and listed equities such as HOOD and COIN provides a diversified thesis for investors seeking exposure in this cycle. Read Next: Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Bitcoin To $200,000 Is Bernstein's 'Highest Conviction,' But Solana, Ethereum Will Outperform Elsewhere originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
2 minutes ago
- Business Wire
Premier, Inc. Reports Fiscal-Year 2025 Fourth-Quarter and Full-Year Financial Results
CHARLOTTE, N.C.--(BUSINESS WIRE)--Premier, Inc. (NASDAQ: PINC), a leading technology-driven healthcare improvement company, today reported financial results for the fiscal-year 2025 fourth quarter and full year ended June 30, 2025. Fiscal-year 2025 fourth quarter total net revenue of $262.9 million decreased 12% from the prior-year period; however, increased 1% on a sequential basis from the fiscal-year 2025 third quarter. Net income from continuing operations of $18.0 million, or $0.22 per share, in the fiscal-year 2025 fourth quarter compared to $60.9 million, or $0.57 per share, in the prior-year period. Adjusted EBITDA* of $68.9 million in the fiscal-year 2025 fourth quarter decreased 34% from the prior-year period and decreased 4% on a sequential basis from the fiscal-year 2025 third quarter. Adjusted EPS* of $0.43 in the fiscal-year 2025 fourth quarter decreased 30% from the prior-year period and decreased 2% on a sequential basis from the fiscal-year 2025 third quarter. "I'm pleased to report that we had a strong finish to the year despite the contract renewal headwinds, which are now mostly behind us. Our overall revenue and profitability for the year exceeded our expectations largely due to better-than-anticipated results in our Supply Chain Services segment," said Michael J. Alkire, Premier's President and CEO. "In addition, we continued to return meaningful capital to stockholders through our quarterly cash dividend and the completion of a $200 million accelerated share repurchase program." On October 1, 2024, the company announced that it had divested the S2S Global direct sourcing business. As such, and unless stated otherwise, all results presented in the following release reflect those of continuing operations. In addition, as the company's efforts to transfer to partners or wind down certain components of the Contigo Health business remain ongoing, results presented in this release continue to include contributions from that business. However, because of the expected transition and/or wind-down, the company is providing certain financial measures that exclude contributions from this business, and tables are included at the end of this release that reconcile the impact of the Contigo Health business on certain financial measures in the periods presented. Consolidated Non-GAAP Financial Highlights of Continuing Operations* Three Months Ended June 30, Year Ended June 30, (in thousands, except per share data) 2025 2024 % Change 2025 2024 % Change Adjusted EBITDA: Supply Chain Services $ 89,986 $ 109,617 (18 %) $ 326,902 $ 409,669 (20 %) Performance Services 17,170 32,820 (48 %) 60,692 113,845 (47 %) Total segment adjusted EBITDA 107,156 142,437 (25 %) 387,594 523,514 (26 %) Corporate (38,300 ) (38,424 ) — % (134,474 ) (134,529 ) — % Adjusted EBITDA $ 68,856 $ 104,013 (34 %) $ 253,120 $ 388,985 (35 %) Adjusted EBITDA excluding Contigo Health $ 71,108 $ 106,045 (33 %) $ 260,435 $ 396,191 (34 %) Adjusted net income $ 35,743 $ 64,482 (45 %) $ 133,752 $ 237,846 (44 %) Adjusted EPS $ 0.43 $ 0.61 (30 %) $ 1.46 $ 2.08 (30 %) Adjusted EPS excluding Contigo Health $ 0.46 $ 0.64 (28 %) $ 1.54 $ 2.17 (29 %) Expand * These are non-GAAP financial measures. Refer to "Premier's Use and Definitions of Non-GAAP Measures" below and the supplemental financial information at the end of this release for information on the company's use of non-GAAP measures and a reconciliation of reported GAAP results to non-GAAP results. Expand Fiscal-Year 2026 Guidance Certain statements in this release, including without limitation, those in this section, are forward-looking statements. For additional information regarding the use and limitations of such statements, refer to "Cautionary Note Regarding Forward-Looking Statements" below. Based on its current outlook and the realization of the assumptions outlined below, the company expects the following: [1] Adjusted EBITDA, adjusted net income, adjusted EPS and free cash flow presented in this financial guidance are forward-looking non-GAAP measures. Refer to "Premier's Use and Definitions of Non-GAAP Measures" below for information on the company's use of non-GAAP measures. The company does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. Total Net Revenue Excluding Contigo Health is also a forward-looking non-GAAP measure. Refer to "Premier's Use of Forward-Looking Non-GAAP Measures" below for additional explanation. [2] As a result of the company's expectation that the remaining operations of Contigo Health will be substantially, if not entirely, transitioned to partners or wound down by December 31, 2025, guidance is being presented excluding financial contributions from this business. Expand Results of Operations for the Three Months Ended June 30, 2025 (As compared with the three months ended June 30, 2024) GAAP net revenue of $262.9 million decreased 12% from $300.2 million in the prior-year period. Refer to the "Supply Chain Services" and "Performance Services" sections below for discussion on the factors that impacted net revenue during the quarter. GAAP net income from continuing operations of $18.0 million decreased by $42.8 million from $60.9 million in the prior-year period primarily due to lower net revenue and an increase in operating expenses related to stock-based compensation expense and current period asset impairments. GAAP diluted EPS from continuing operations of $0.22 decreased by $0.35 from $0.57 in the prior-year period due to the aforementioned drivers affecting GAAP net income from continuing operations, partially offset by a decrease in the diluted weighted average shares outstanding as a result of share repurchases under the company's $1 billion share repurchase authorization announced in February 2024 ("Share Repurchase Authorization"), further discussed below under "Return of Capital to Stockholders". Adjusted EBITDA of $68.9 million decreased 34% from $104.0 million in the prior-year period. Refer to the "Supply Chain Services" and "Performance Services" sections below for discussion on the factors that impacted the Adjusted EBITDA during the quarter. Adjusted net income of $35.7 million decreased 45% from $64.5 million in the prior-year period primarily as a result of the same factors that impacted adjusted EBITDA and an increase in interest expense due to higher borrowings on the company's revolving credit facility, partially offset by a decrease in the effective income tax rate in the current-year period. Adjusted EPS of $0.43 decreased 30% from $0.61 in the prior-year period. Segment Results (For the fiscal fourth quarter of 2025 as compared with the fiscal fourth quarter of 2024) Supply Chain Services Supply Chain Services segment net revenue of $170.0 million decreased 8% from $184.4 million in the prior-year period largely due to lower net administrative fees revenue. Net administrative fees revenue of $150.1 million decreased 10% from $166.1 million in the prior-year period, primarily driven by the expected increase in the aggregate blended member fee share, partially offset by continued growth in member purchasing as a result of increased utilization of contracts with existing members and from the recruitment and onboarding of new members. Software licenses, other services and support revenue of $19.9 million increased 9% from $18.3 million in the prior-year period mainly driven by continued growth from new engagements in the supply chain co-management business and further expansion of the company's digital supply chain solutions to providers and suppliers. Segment adjusted EBITDA of $90.0 million decreased 18% from $109.6 million in the prior-year period largely due to the decrease in net administrative fees revenue and additional investments in the supply chain co-management business to support ongoing growth. Performance Services Performance Services segment net revenue of $92.9 million decreased 20% from $115.8 million in the prior-year period primarily due to lower revenue in the consulting business as well as the timing of license revenue. Segment adjusted EBITDA of $17.2 million decreased 48% from $32.8 million in the prior-year period mainly due to the decrease in revenue partially offset by a decrease in employee-related costs. Liquidity and Cash Flows As of June 30, 2025, cash and cash equivalents were $83.7 million compared with $125.1 million as of June 30, 2024, and the company's five-year, $1.0 billion revolving credit facility ("Credit Facility") had an outstanding balance of $280.0 million. Net cash provided by operating activities from continuing operations ("operating cash flow") for the year ended June 30, 2025 of $417.8 million increased from $278.1 million in the prior year mainly due to cash taxes paid in the prior year on proceeds received from the sale the company's non-healthcare GPO operations, cash received in the current year from a derivative lawsuit settlement of $57.0 million and a $17.6 million cash distribution received in the current year from a minority investment. Net cash used in investing activities for the year ended June 30, 2025 of $102.1 million increased from $68.5 million in the prior year due to the business acquisition of IllumiCare, Inc. partially offset by net cash received from the sale of certain assets and liabilities including Contigo Health's wrap network. Net cash used in financing activities for the year ended June 30, 2025 of $340.7 million increased from $192.7 million in the prior year due to the timing of net cash proceeds received from the sale of the company's non-healthcare GPO operations largely received in the prior year. The change was offset by the current-year net borrowings and the prior-year repayment under the company's Credit Facility, as well as a decrease in cash dividends paid in the current year as a result of share repurchases. Non-GAAP free cash flow for the year ended June 30, 2025 was $180.5 million compared with $228.0 million in the prior year. In addition to some of the factors that affected operating cash flow, the decrease was primarily due to the timing of cash payments to OMNIA related to our non-healthcare channel partnership agreement. Refer to "Premier's Use and Definitions of Non-GAAP Measures" below and the supplemental financial information at the end of this release for information on the company's use of this and other non-GAAP financial measures and a reconciliation of reported GAAP results to non-GAAP results. Return of Capital to Stockholders In February 2024, the company announced that its Board of Directors ("Board") approved the Share Repurchase Authorization. Pursuant to the Share Repurchase Authorization, which expired on June 30, 2025, the company has repurchased an aggregate of $800.0 million of its Common Stock, which includes the August 2025 completion of the $200.0 million accelerated share repurchase program announced in February 2025 (the "2025 ASR"). Additional details will be provided in Premier's Form 10-K for the year ended June 30, 2025, expected to be filed with the SEC shortly after the issuance of this release. During fiscal-year 2025, the company paid aggregate dividends of $77.4 million to holders of its Common Stock. On August 17, 2025, the Board declared a quarterly cash dividend of $0.21 per share, payable on September 15, 2025 to stockholders of record on September 1, 2025. Conference Call and Webcast Premier will host a conference call to provide additional detail around the company's performance and outlook today at 8:00 a.m. ET. The call will be webcast live from the company's website and, along with the accompanying presentation, will be available at the following link to the company's Events and Presentations page at Premier Events. The webcast should be accessed 10 minutes prior to the conference call start time. A replay of the webcast will be available for one year following the conclusion of the live broadcast and will be accessible on the company's website under Events and Presentations at For those parties who do not have internet access, the conference call may be accessed by calling one of the below telephone numbers and asking to join the Premier, Inc. call: About Premier, Inc. Premier, Inc. (NASDAQ: PINC) is a leading technology-driven healthcare improvement company, providing solutions to two-thirds of all healthcare providers in the U.S. Playing a critical role in the rapidly evolving healthcare industry, Premier unites providers, suppliers and payers to make healthcare better with national scale, smarter with actionable intelligence and faster with novel technologies. Headquartered in Charlotte, N.C., Premier offers integrated data and analytics, collaboratives, supply chain solutions, consulting and other services in service of our mission to improve the health of communities. Please visit Premier's news and investor sites on as well as X, Facebook, LinkedIn, YouTube, Instagram and Premier's blog for more information about the company. Premier's Use and Definitions of Non-GAAP Measures Premier uses EBITDA, adjusted EBITDA, segment adjusted EBITDA, adjusted net income, adjusted earnings per share, and free cash flow. These are non-GAAP financial measures that are not in accordance with, or an alternative to, GAAP, and may be different from non-GAAP financial measures used by other companies. We include these non-GAAP financial measures to facilitate a comparison of the company's operating performance on a consistent basis from period to period and to provide measures that, when viewed in combination with its results prepared in accordance with GAAP, we believe allow for a more complete understanding of factors and trends affecting the company's business than GAAP measures alone. Management believes EBITDA, adjusted EBITDA and segment adjusted EBITDA assist the company's board of directors, management and investors in comparing the company's operating performance on a consistent basis from period to period by removing the impact of the company's earnings elements attributable to the company's asset base (primarily depreciation and amortization), certain items outside the control of management, e.g., taxes, other non-cash items (such as impairment of intangible assets, purchase accounting adjustments and stock-based compensation), non-recurring items (such as strategic initiative and restructuring-related expenses) and income and expense that have been classified as discontinued operations from operating results. Management believes adjusted net income and adjusted earnings per share assist the company's board of directors, management and investors in comparing our net income and earnings per share on a consistent basis from period to period because these measures remove non-cash items (such as impairment of intangible assets, purchase accounting adjustments and stock-based compensation) and non-recurring items (such as strategic initiative and restructuring-related expenses) and eliminate the variability of non-controlling interest and equity in net income of unconsolidated affiliates. Management believes free cash flow is an important measure because it represents the cash that the company generates after payments to certain former limited partners that elected to execute a Unit Exchange and Tax Receivable Agreement ('Unit Exchange Agreement") in connection with our August 2020 restructuring, capital investment to maintain existing products and services and ongoing business operations, as well as development of new and upgraded products and services to support future growth and cash payments to OMNIA for the sale of future revenues and tax payments on proceeds received from the sale of future revenues. Free cash flow is important because it enables the company to seek enhancement of stockholder value through acquisitions, partnerships, joint ventures, investments in related or complementary businesses and/or debt reduction. Also, adjusted EBITDA and free cash flow are supplemental financial measures used by the company and by external users of our financial statements and are considered to be indicators of the operational strength and performance of our business. Adjusted EBITDA and free cash flow measures allow us to assess our performance without regard to financing methods and capital structure and without the impact of other matters that we do not consider indicative of the operating performance of our business. More specifically, segment adjusted EBITDA is the primary earnings measure we use to evaluate the performance of our business segments. Non-recurring items are income or expenses and other items that have not been earned or incurred within the prior two years and are not expected to recur within the next two years. Such items include acquisition- and disposition-related expenses, strategic initiative- and restructuring-related expenses, loss on disposal of long-lived assets, income and expense that has been classified as discontinued operations and other reconciling items. Non-cash items include stock-based compensation expense and asset impairments. Non-operating items include gains or losses on the disposal of assets, interest and investment income or expense, equity in net income of unconsolidated affiliates and operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty payments retained. EBITDA is defined as net income before income or loss from discontinued operations, net of tax, interest and investment income or expense, net, income tax expense, depreciation and amortization and amortization of purchased intangible assets. Adjusted EBITDA is defined as EBITDA before merger and acquisition-related expenses and non-recurring, non-cash or non-operating items. Segment adjusted EBITDA is defined as the segment's net revenue less cost of revenue and operating expenses directly attributable to the segment excluding depreciation and amortization, amortization of purchased intangible assets, merger and acquisition-related expenses and non-recurring or non-cash items. Operating expenses directly attributable to the segment include expenses associated with sales and marketing, general and administrative, and product development activities specific to the operation of each segment. General and administrative corporate expenses that are not specific to a particular segment are not included in the calculation of segment adjusted EBITDA. Segment adjusted EBITDA also excludes any income and expense that has been classified as discontinued operations and operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty payments retained. Adjusted net income is defined as net income attributable to Premier (i) excluding income or loss from discontinued operations, net, (ii) excluding income tax expense, (iii) excluding the effect of non-recurring or non-cash items, including certain strategic initiative- and restructuring-related expenses, (iv) reflecting an adjustment for income tax expense on Non-GAAP net income before income taxes at our estimated annual effective income tax rate, adjusted for unusual or infrequent items, (v) excluding the equity in net income of unconsolidated affiliates and (vi) excluding operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty fees retained, imputed interest expense and associated income tax expense. Adjusted earnings per share is adjusted net income divided by diluted weighted average shares. Free cash flow is defined as net cash provided by operating activities from continuing operations less (i) early termination payments to certain former limited partners that elected to execute a Unit Exchange Agreement in connection with our August 2020 restructuring, (ii) purchases of property and equipment and (iii) cash payments to OMNIA for the sale of future revenues and tax payments on proceeds received from the sale of future revenues. Free cash flow does not represent discretionary cash available for spending as it excludes certain contractual obligations such as debt repayments. To properly and prudently evaluate our business, readers are urged to review the reconciliation of these non-GAAP financial measures, as well as the other financial tables, included at the end of this release. Readers should not rely on any single financial measure to evaluate the company's business. In addition, the non-GAAP financial measures used in this release are susceptible to varying calculations and may differ from, and may therefore not be comparable to, similarly titled measures used by other companies. The Company has revised the definitions for adjusted EBITDA, segment adjusted EBITDA, adjusted net income and free cash flow from the definitions reported in the 2024 Annual Report. Adjusted EBITDA and segment adjusted EBITDA definitions were revised to exclude operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty fees retained. The adjusted net income definition was revised to exclude operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty fees retained, imputed interest expense and associated income tax expense. Free cash flow was revised to exclude the cash payments to OMNIA for the sale of future revenues and tax payments on proceeds received from the sale of future revenues. For comparability purposes, prior year non-GAAP financial measures are presented based on the current definitions in the above section. In addition to the foregoing, this release and the reconciliations of our non-GAAP financial measures included at the end of this release include the presentation of additional fiscal-year 2025 non-GAAP financial measures including net revenue excluding Contigo Health, adjusted EBITDA excluding Contigo Health and adjusted earnings per share excluding Contigo Health. As the company continues to own and operate Contigo Health's remaining businesses, GAAP financial results presented in this release include contributions from these remaining businesses. The company expects that these remaining businesses will be substantially, if not entirely, transitioned to partners or wound down by December 31, 2025. Given the time span that has been required to effectuate the disposition and wind-down of Contigo Health, the company currently does not expect that it will qualify to treat this business as a discontinued operation in fiscal-year 2025. However, because of the expected transition and/or wind-down, guidance presented in this release excludes financial contributions from these remaining businesses. Accordingly, we believe that providing supplemental non-GAAP financial measures that align with our fiscal-year 2025 guidance allow for a better understanding of that guidance. Further information on Premier's use of non-GAAP financial measures is available in the 'Our Use of Non-GAAP Financial Measures' section of Premier's Form 10-K for the year ended June 30, 2025, expected to be filed with the SEC shortly after this release, and which will also be made available on Premier's website at Premier's Use of Forward-Looking Non-GAAP Measures The company does not meaningfully reconcile guidance for non-GAAP adjusted EBITDA, non-GAAP adjusted net income and non-GAAP adjusted earnings per share to net income attributable to stockholders or earnings per share attributable to stockholders (and accordingly does not meaningfully reconcile free cash flow guidance, which is based on adjusted EBITDA) because the company cannot provide guidance for the more significant reconciling items between net income attributable to stockholders and each of these metrics without unreasonable effort. This is due to the fact that future period non-GAAP guidance includes adjustments for items not indicative of our core operations, which may include, without limitation, items included in the supplemental financial information for reconciliation of reported GAAP results to non-GAAP results. Such items include, but are not limited to, strategic and acquisition related expenses for professional fees; mark to market adjustments for put options and contingent liabilities; gains and losses on stock-based performance shares; adjustments to its income tax provision (such as valuation allowance adjustments and settlements of income tax claims); items related to corporate and facility restructurings; and certain other items the company believes to be non-indicative of its ongoing operations. Such adjustments may be affected by changes in ongoing assumptions, judgements, as well as non-recurring, unusual or unanticipated charges, expenses or gains/losses or other items that may not directly correlate to the underlying performance of our business operations. The exact amount of these adjustments is not currently determinable but may be significant. As noted above, as a result of the company's expectation that the remaining businesses of Contigo Health will be substantially, if not entirely, transitioned to partners or wound down by December 31, 2025, the forward-looking guidance presented in this release (including Total Net Revenue Excluding Contigo Health, adjusted EBITDA, adjusted net income, adjusted EPS and free cash flow), excludes the financial contributions from these remaining businesses, in addition to any applicable adjustments for non-GAAP financial measures described above under "Premier's Use and Definitions of Non-GAAP Measures." With respect to these adjustments for Contigo Health, the company does not meaningfully reconcile guidance to GAAP measures because Contigo Health is expected to be transitioned to partners or wound down. Cautionary Note Regarding Forward-Looking Statements Statements made in this release that are not statements of historical or current facts, including, but not limited to, those related to our ability to advance our business strategies and improve healthcare, our ability to transition to partners or wind down the remaining operations of Contigo Health and the potential costs and expenses associated therewith, the potential benefits of share repurchases made pursuant to the share repurchase authorization approved by our Board in 2024 (including the recently completed 2025 ASR), the payment of dividends at current levels or at all, guidance on expected future financial performance and assumptions underlying that guidance, and our expected effective income tax rate, are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements, the achievement of which cannot be guaranteed. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as 'believes,' 'belief,' 'expects,' 'estimates,' 'intends,' 'anticipates' or 'plans' to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier's beliefs and expectations regarding future events and trends affecting its business and are necessarily subject to risks and uncertainties, many of which are outside Premier's control. More information on risks and uncertainties that could affect Premier's business, achievements, performance, financial condition and financial results is included from time to time in the 'Cautionary Note Regarding Forward-Looking Statements,' 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of Premier's periodic and current filings with the SEC, including the information in those sections of Premier's Form 10-K for the year ended June 30, 2025, expected to be filed with the SEC shortly after the date of this release. Premier's periodic and current filings with the SEC are made available on Premier's website at Forward-looking statements speak only as of the date they are made, and Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events that occur after that date, or otherwise. Consolidated Balance Sheets (In thousands, except share data) June 30, 2024 Assets Cash and cash equivalents $ 83,725 $ 125,146 Accounts receivable (net of $6,339 and $1,392 allowance for credit losses, respectively) 99,092 100,965 Contract assets (net of $1,207 and $1,248 allowance for credit losses, respectively) 318,337 335,831 Prepaid expenses and other current assets 84,649 73,653 Current assets of discontinued operations — 119,662 Total current assets 585,803 755,257 Property and equipment (net of $820,043 and $742,063 accumulated depreciation, respectively) 201,481 205,711 Intangible assets (net of $332,522 and $294,333 accumulated amortization, respectively) 250,770 269,259 Goodwill 897,894 995,852 Deferred income tax assets 762,859 773,002 Deferred compensation plan assets 35,069 54,422 Investments in unconsolidated affiliates 262,621 228,562 Operating lease right-of-use assets 5,072 20,635 Other assets 95,505 98,749 Total assets $ 3,097,074 $ 3,401,449 Liabilities and stockholders' equity Accounts payable $ 19,619 $ 22,610 Accrued expenses 59,151 58,482 Revenue share obligations 347,306 292,792 Accrued compensation and benefits 99,019 100,395 Deferred revenue 22,548 19,642 Line of credit and current portion of long-term debt 280,000 1,008 Current portion of notes payable to former limited partners — 101,523 Current portion of liability related to the sale of future revenues 49,712 51,798 Other current liabilities 33,182 52,589 Current liabilities of discontinued operations 96 45,724 Total current liabilities 910,633 746,563 Liability related to the sale of future revenues, less current portion 590,727 599,423 Deferred compensation plan obligations 35,069 54,422 Operating lease liabilities, less current portion 2,007 11,170 Other liabilities 28,061 27,640 Total liabilities 1,566,497 1,439,218 Commitments and contingencies Stockholders' equity: Class A common stock, $0.01 par value, 500,000,000 shares authorized; 91,548,325 shares issued and 82,544,385 shares outstanding at June 30, 2025 and 111,456,454 shares issued and 105,027,079 shares outstanding at June 30, 2024 916 1,115 Treasury stock, at cost; 9,003,940 and 6,429,375 shares at June 30, 2025 and June 30, 2024, respectively (161,561 ) (250,129 ) Additional paid-in capital 2,176,318 2,105,684 (Accumulated deficit) retained earnings (485,045 ) 105,590 Accumulated other comprehensive loss (51 ) (29 ) Total stockholders' equity 1,530,577 1,962,231 Total liabilities and stockholders' equity $ 3,097,074 $ 3,401,449 Expand Consolidated Statements of Cash Flows (In thousands) 2025 2024 Operating activities Net income $ 30,833 $ 106,719 Adjustments to reconcile net income to net cash provided by operating activities: Net loss (income) from discontinued operations, net of tax 41,901 (2,500 ) Depreciation and amortization 117,631 128,754 Equity in net (income) loss of unconsolidated affiliates (11,972 ) 295 Deferred income taxes 27,076 (123,276 ) Stock-based compensation 23,154 23,290 Impairment of assets 144,481 140,053 Other, net (23,036 ) (4,518 ) Changes in operating assets and liabilities, net of the effects of acquisitions: Accounts receivable 3,006 (15,622 ) Contract assets 17,557 (39,265 ) Prepaid expenses and other assets 17,481 237 Accounts payable (3,108 ) (10,661 ) Revenue share obligations 54,514 30,504 Accrued expenses, deferred revenue, and other liabilities (21,709 ) 44,133 Net cash provided by operating activities from continuing operations 417,809 278,143 Net cash (used in) provided by operating activities from discontinued operations (16,380 ) 18,417 Net cash provided by operating activities $ 401,429 $ 296,560 Investing activities Purchases of property and equipment $ (82,649 ) $ (81,189 ) Proceeds from sale of assets 20,402 — Acquisition of businesses, net of cash acquired (39,848 ) — Sale of investment in unconsolidated affiliates — 12,753 Other — (30 ) Net cash used in investing activities $ (102,095 ) $ (68,466 ) Financing activities Payments on notes payable $ (102,531 ) $ (100,937 ) Proceeds from credit facility 435,000 — Payments on credit facility (155,000 ) (215,000 ) Proceeds from sale of future revenues 42,325 681,427 Payments on liability related to the sale of future revenues (53,107 ) (31,535 ) Cash dividends paid (77,445 ) (95,207 ) Repurchase of Class A common stock (400,191 ) (400,000 ) Payments on deferred consideration related to acquisition of business — (27,187 ) Payments on earn-out liabilities (22,700 ) (1,375 ) Other, net (7,084 ) (2,906 ) Net cash used in financing activities $ (340,733 ) $ (192,720 ) Effect of exchange rate changes on cash flows (22 ) (21 ) Net (decrease) increase in cash and cash equivalents (41,421 ) 35,353 Cash and cash equivalents at beginning of period 125,146 89,793 Cash and cash equivalents at end of period $ 83,725 $ 125,146 Expand _________________________________ (a) Early termination payments to certain former limited partners that elected to execute a Unit Exchange Agreement in connection with Premier's August 2020 restructuring are presented in the Consolidated Statements of Cash Flows under 'Payments made on notes payable." During the year ended June 30, 2025, the company paid $102.7 million to members, including imputed interest of $1.2 million which is included in net cash provided by operating activities from continuing operations. During the year ended June 30, 2024, the company paid $102.7 million to members, including imputed interest of $3.0 million which is included in net cash provided by operating activities from continuing operations. At June 30, 2025, the early termination payments were paid in full. (b) Cash payments to OMNIA for the sale of future revenues in connection with our sale of non-healthcare contracts to OMNIA are presented in the Consolidated Statements of Cash Flows under "Payments on liability related to the sale of future revenues." During the year ended June 30, 2025, the company paid $70.1 million to OMNIA, including imputed interest of $17.0 million which is included in net cash provided by operating activities from continuing operations. During the year ended June 30, 2024, the company paid $44.4 million to OMNIA, including imputed interest of $14.2 million which is included in net cash provided by operating activities from continuing operations. Expand Supplemental Financial Information (Unaudited) (In thousands) Three Months Ended Year Ended June 30, June 30, 2025 2024 2025 2024 Net income from continuing operations $ 18,018 $ 60,861 $ 72,734 $ 104,219 Interest expense, net 6,305 73 17,223 662 Income tax expense 7,083 25,723 25,315 42,302 Depreciation and amortization 20,052 20,636 79,442 81,728 Amortization of purchased intangible assets 9,499 9,794 38,189 47,026 EBITDA 60,957 117,087 232,903 275,937 Stock-based compensation 7,669 205 23,700 23,876 Acquisition- and disposition-related expenses 2,520 4,117 6,943 12,612 Strategic initiative and restructuring-related expenses 6,914 (119 ) 13,007 2,850 Operating income from revenues sold to OMNIA (16,840 ) (15,624 ) (62,469 ) (55,283 ) Equity in net (income) loss of unconsolidated affiliates (123 ) (1,344 ) (11,972 ) 295 Other non-operating gains (3,255 ) — (79,826 ) (11,046 ) Impairment of assets 10,810 — 144,481 140,053 Other reconciling items, net 204 (309 ) (13,647 ) (309 ) Adjusted EBITDA $ 68,856 $ 104,013 $ 253,120 $ 388,985 Add: Loss from Contigo Health (a) 2,252 2,032 7,315 7,206 Adjusted EBITDA excluding Contigo Health $ 71,108 $ 106,045 $ 260,435 $ 396,191 (a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when excluding Contigo Health. Income before income taxes $ 25,101 $ 86,584 $ 98,049 $ 146,521 Equity in net (income) loss of unconsolidated affiliates (123 ) (1,344 ) (11,972 ) 295 Interest expense, net 6,305 73 17,223 662 Other income, net (6,419 ) (2,332 ) (102,184 ) (20,832 ) Operating income 24,864 82,981 1,116 126,646 Depreciation and amortization 20,052 20,636 79,442 81,728 Amortization of purchased intangible assets 9,499 9,794 38,189 47,026 Stock-based compensation 7,669 205 23,700 23,876 Acquisition- and disposition-related expenses 2,520 4,117 6,943 12,612 Strategic initiative and restructuring-related expenses 6,914 (119 ) 13,007 2,850 Operating income from revenues sold to OMNIA (16,840 ) (15,624 ) (62,469 ) (55,283 ) Deferred compensation plan expense 3,165 1,400 4,603 8,769 Impairment of assets 10,810 — 144,481 140,053 Other reconciling items, net 203 623 4,108 708 Adjusted EBITDA $ 68,856 $ 104,013 $ 253,120 $ 388,985 SEGMENT ADJUSTED EBITDA Supply Chain Services $ 89,986 $ 109,617 $ 326,902 $ 409,669 Performance Services 17,170 32,820 60,692 113,845 Corporate (38,300 ) (38,424 ) (134,474 ) (134,529 ) Adjusted EBITDA $ 68,856 $ 104,013 $ 253,120 $ 388,985 Net income attributable to stockholders $ 18,435 $ 60,676 $ 20,269 $ 119,544 Net loss (income) from discontinued operations, net of tax 137 256 41,901 (2,500 ) Income tax expense 7,083 25,723 25,315 42,302 Amortization of purchased intangible assets 9,499 9,794 38,189 47,026 Stock-based compensation 7,669 205 23,700 23,876 Acquisition- and disposition-related expenses 2,520 4,117 6,943 12,612 Strategic initiative and restructuring-related expenses 6,914 (119 ) 13,007 2,850 Operating income from revenues sold to OMNIA (16,840 ) (15,624 ) (62,469 ) (55,283 ) Equity in net (income) loss of unconsolidated affiliates (123 ) (1,344 ) (11,972 ) 295 Other non-operating gains (3,255 ) — (79,826 ) (11,046 ) Impairment of assets 10,810 — 144,481 140,053 Other reconciling items, net 4,181 4,647 16,451 6,087 Adjusted income before income taxes 47,030 88,331 175,989 325,816 Income tax expense on adjusted income before income taxes 11,287 23,849 42,237 87,970 Adjusted net income $ 35,743 $ 64,482 $ 133,752 $ 237,846 Expand Supplemental Financial Information Reconciliation of GAAP EPS to Adjusted EPS (Unaudited) (In thousands, except per share data) Three Months Ended Year Ended June 30, June 30, 2025 2024 2025 2024 Net income attributable to stockholders $ 18,435 $ 60,676 $ 20,269 $ 119,544 Net loss (income) from discontinued operations, net of tax 137 256 41,901 (2,500 ) Income tax expense 7,083 25,723 25,315 42,302 Amortization of purchased intangible assets 9,499 9,794 38,189 47,026 Stock-based compensation 7,669 205 23,700 23,876 Acquisition- and disposition-related expenses 2,520 4,117 6,943 12,612 Strategic initiative and restructuring-related expenses 6,914 (119 ) 13,007 2,850 Operating income from revenues sold to OMNIA (16,840 ) (15,624 ) (62,469 ) (55,283 ) Equity in net (income) loss of unconsolidated affiliates (123 ) (1,344 ) (11,972 ) 295 Other non-operating gains (3,255 ) — (79,826 ) (11,046 ) Impairment of assets 10,810 — 144,481 140,053 Other reconciling items, net 4,181 4,647 16,451 6,087 Adjusted income before income taxes 47,030 88,331 175,989 325,816 Income tax expense on adjusted income before income taxes 11,287 23,849 42,237 87,970 Adjusted net income $ 35,743 $ 64,482 $ 133,752 $ 237,846 Weighted average: Basic weighted average shares outstanding 82,378 104,838 91,228 113,791 Dilutive shares 1,213 758 689 617 Weighted average shares outstanding - diluted 83,591 105,596 91,917 114,408 Basic earnings per share attributable to stockholders $ 0.22 $ 0.58 $ 0.22 $ 1.05 Net loss (income) from discontinued operations, net of tax — — 0.46 (0.02 ) Income tax expense 0.09 0.25 0.28 0.37 Amortization of purchased intangible assets 0.12 0.09 0.42 0.41 Stock-based compensation 0.09 — 0.26 0.21 Acquisition- and disposition-related expenses 0.03 0.04 0.08 0.11 Strategic initiative and restructuring-related expenses 0.08 — 0.14 0.03 Operating income from revenues sold to OMNIA (0.20 ) (0.15 ) (0.68 ) (0.49 ) Equity in net (income) loss of unconsolidated affiliates — (0.01 ) (0.13 ) — Other non-operating gains (0.04 ) — (0.88 ) (0.10 ) Impairment of assets 0.13 — 1.58 1.23 Other reconciling items, net 0.06 0.04 0.18 0.05 Impact of corporation taxes (0.14 ) (0.23 ) (0.46 ) (0.77 ) Impact of dilutive shares (0.01 ) — (0.01 ) — Adjusted earnings per share $ 0.43 $ 0.61 $ 1.46 $ 2.08 Add: Loss from Contigo Health (a) 0.03 0.03 0.08 0.09 Adjusted earnings per share excluding Contigo Health $ 0.46 $ 0.64 $ 1.54 $ 2.17 Expand _________________________________ (a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when excluding Contigo Health. Expand Supplemental Financial Information Reconciliation of Certain Financial Measures to Adjust for Contigo Health (Unaudited) (In thousands) Three Months Ended Year Ended June 30, June 30, 2025 2024 2025 2024 Net revenue $ 262,857 $ 300,246 $ 1,012,647 $ 1,136,009 Less: Contigo Health (4,885 ) (8,585 ) (26,694 ) (39,846 ) Net revenue excluding Contigo Health $ 257,972 $ 291,661 $ 985,953 $ 1,096,163 Adjusted EPS $ 0.43 $ 0.61 $ 1.46 $ 2.08 Add: Loss from Contigo Health (a) 0.03 0.03 0.08 0.09 Adjusted EPS excluding Contigo Health $ 0.46 $ 0.64 $ 1.54 $ 2.17 Expand _________________________________ (a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when excluding Contigo Health. Expand
Business Wire
2 minutes ago
- Business Wire
Henry Schein's 28th Annual ‘Back to School' Program Supports Students Worldwide
MELVILLE, N.Y.--(BUSINESS WIRE)--For the 28th consecutive year, Henry Schein, Inc. (Nasdaq: HSIC) is helping students worldwide start the academic year off right through its 'Back to School' program, a flagship initiative of Henry Schein Cares, the Company's global corporate citizenship program. Team Schein Members (TSMs) at 45 locations in the U.S., Canada, Italy, Spain, the U.K., and Ireland are helping more than 5,200 students gain confidence and excitement for the school year. 'Our 'Back to School' initiative is a powerful example of what Team Schein can accomplish when we come together in service of our communities,' said David Kochman, Senior Vice President and Chief Corporate Affairs Officer, Henry Schein. Share Since 1998, Henry Schein's "Back to School" program has provided TSMs with opportunities to make a difference through hands-on volunteerism. In partnership with not-for-profit social service organizations, TSMs pack backpacks full of school supplies and oral hygiene kits, helping underserved children start the school year with confidence. Over the years, the program has grown to a global scale, benefiting more than 75,000 children across the communities Henry Schein serves. On August 14, Henry Schein welcomed hundreds of children and their families to its event at the Company's worldwide headquarters in Melville, N.Y. Approximately 400 pre-identified students received backpacks filled with school supplies, along with gift cards to help purchase their first day-of-school outfits. The evening was filled with family-friendly fun, including a barbecue, crafts, games, and engaging activities for all ages. To emphasize the value of education, the event featured a book tent offering a wide selection of free books generously donated by TSMs and KPMG LLP – a U.S. audit, tax, and advisory firm – through its Family for Literacy program and partnership with First Book, a nonprofit social enterprise. This memorable gathering was just one of many 'Back to School' celebrations taking place around the globe this season. 'Our 'Back to School' initiative is a powerful example of what Team Schein can accomplish when we come together in service of our communities,' said David Kochman, Senior Vice President and Chief Corporate Affairs Officer, Henry Schein. 'Together, we are helping to provide children with more than just supplies — we are helping them feel seen, supported, and ready to learn.' For the Melville event, Henry Schein partnered with 10 Long Island-based social service organizations to pre-identify participating children and their families: Bethany House; Espoir Youth Program, Inc.; Family and Children's Association; Hispanic Counseling Center; Iovino South Shore Family Center (Family Service League); SCO Madonna Heights; Social Service Volunteers of Nassau; The Raymar Children's Association; WellLife Network; and YES Community Counseling Center. 'We're grateful to Henry Schein for helping our students begin the year feeling ready and cared for,' said Katie Swanson, Executive Director, Bethany House of Nassau County. 'Our partnership with Henry Schein's 'Back to School' initiative is rooted in purpose. Thank you to Team Schein for their continued support of Bethany House.' To learn more about the program, click here. About Henry Schein Cares Founded in 1932 by Henry and Esther Schein, our Company has a rich history rooted in corporate citizenship. Their values inspired our commitment to innovation, leadership, and strong partnerships and serve as a driving force behind our ability to adapt to changing industry needs. Today, Henry Schein Cares, our global corporate citizenship program, aims to drive change through our five pillars: catalyzing health care access; advancing policies, solutions, and innovation; relationship building for change; empowering Team Schein; and sustaining the planet. Our purpose is to drive this positive change through the engagement of our constituents to help make the world healthier. By adhering to these pillars, we are committed to 'doing well, by doing good' and recognize the importance of being accountable to the five constituents that make up the Company's Mosaic of Success — customers, suppliers, Team Schein Members, shareholders, and society at large. To learn more about how we are making a difference, please visit: About Henry Schein, Inc. Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With more than 25,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 300,000 branded products and Henry Schein corporate brand products in our distribution centers. A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 33 countries and territories. The Company's sales reached $12.7 billion in 2024, and have grown at a compound annual rate of approximately 11.2 percent since Henry Schein became a public company in 1995.
