FOXO TECHNOLOGIES INC.'S BIG SOUTH FORK MEDICAL CENTER COMPLETES PERFORMANCE NETWORK AGREEMENT WITH COVENANT HEALTH TO PROVIDE SWING BED SERVICES
Patients who no longer meet acute care admission criteria are frequently in need of post-acute care to enhance their recovery. Big South Fork Medical Center is well positioned to provide swing bed services to a number of patients needing post-acute care, which will facilitate patients returning to their communities and being closer to their family during their recovery periods.
Hal Leftwich, CEO of Big South Fork Medical Center noted, 'This agreement is an attestation to the services we provide and our hospital's proximity to patient homes in this and surrounding communities which make us an attractive option for many patients in need of post-acute care.'
'Being part of Covenant Health's performance network is consistent with our organic growth strategy of increasing net revenues at the hospital,' stated Seamus Lagan, Chief Executive Officer of parent company, FOXO Technologies Inc.
About FOXO Technologies Inc. ('FOXO')
FOXO owns and operates three subsidiaries.
Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical Center), a critical access designated (CAH) hospital in East Tennessee.
Myrtle Recovery Centers, Inc., a 30-bed behavioral health facility in East Tennessee. Myrtle provides inpatient services for detox and residential treatment and outpatient services for MAT and OBOT Programs.
FOXO Labs, Inc. is a biotechnology company dedicated to improving human health and life span through the development of cutting-edge technology and product solutions for various industries.
For more information about FOXO, visit www.foxotechnologies.com.
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the FOXO's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to the risk of changes in the competitive and highly regulated industries in which FOXO operates; variations in operating performance across competitors or changes in laws and regulations affecting FOXO's business; the ability to implement FOXO's business plans, forecasts, and other expectations; the ability to obtain financing; the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future; the enforceability of FOXO's intellectual property, including its patents and the potential infringement on the intellectual property rights of others; and the risk of downturns and a changing regulatory landscape in the highly competitive industries in which FOXO operates. The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties discussed in FOXO's most recent reports on Forms 10-K and 10-Q, particularly the 'Risk Factors' sections of those reports, and in other documents FOXO has filed, or will file, with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FOXO assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Sebastien Sainsbury
[email protected]
(561) 485-0151
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
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Business Wire
11 minutes ago
- Business Wire
Myomo Reports Second Quarter 2025 Financial and Operating Results
BURLINGTON, Mass.--(BUSINESS WIRE)-- Myomo, Inc. (NYSE American: MYO) ('Myomo' or the 'Company'), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today reported financial results for the three and six months ended June 30, 2025. Financial and operating highlights for the second quarter of 2025 include the following (all comparisons are with the second quarter of 2024 unless otherwise indicated): Revenue was $9.7 million, up 28%; 56% of revenue was from Medicare Part B patients. Revenue units were 178, up 13%; 53% of revenue units were from intra-quarter authorizations and orders Orders and insurance authorizations were received for 207 MyoPro units, down 3%; Backlog, which represents insurance authorizations and orders received but not yet converted to revenue, was 230 units as of June 30, 2025, down 18%; 816 new candidates were added to the patient pipeline, up 49%; There were 1,611 MyoPro candidates in the patient pipeline as of June 30, 2025, up 37%; Gross margin was 62.7%, down 810 basis points; and Cost per direct billing pipeline add was $2,926, up 89%; Management Commentary 'Second quarter revenues exceeded our expectations with 28% growth as we further strengthened our ability to convert current quarter authorizations and orders into revenue. However, several forward-looking operating metrics were not as strong as we anticipated due to factors affecting lead quality and pipeline conversion," said Paul R. Gudonis, Myomo's Chairman and Chief Executive Officer. "We are taking decisive action to improve lead quality and pipeline conversion, positioning us for stronger operating performance. Specifically, we are shifting our advertising focus from digital advertising toward television, which in recent experience generated higher quality leads with stronger patient engagement. We are also using our clinical team to engage with therapists and physicians nationwide to expand the number of healthcare professionals that understand the benefits of the MyoPro in improving patient outcomes. By enhancing our eco-system of knowledgeable providers and moving forward in the patients' continuum of care, we expect to secure additional patient referrals for us and our O&P partners," added Gudonis. Financial Results Revenue for the second quarter of 2025 was $9.7 million, up 28% compared with the second quarter of 2024, reflecting an increase in the number of revenue units and a higher average selling price ("ASP"). Myomo recognized revenue on 178 MyoPro units in the quarter, up 13% over the same period a year ago. ASP was approximately $54,200, up 14% versus the prior year. Medicare Part B patients represented 56% of second quarter 2025 revenue. Second quarter revenue was the Company's highest velocity revenue, with 53% of revenue units generated from authorizations and orders received and filled during the quarter. Year-to-date revenues were $19.5 million, up 73% compared with the same period in 2024. Gross margin for the second quarter of 2025 was 62.7%, compared with 70.8% for the second quarter of 2024. The decrease was driven primarily by higher material and overhead spending. Year-to-date gross margin was 65.0%, compared with 67.6% for the same period in 2024. Operating expenses for the second quarter of 2025 were $10.6 million, an increase of 65% compared with the second quarter of 2024. The increase was primarily due to higher payroll expense reflecting higher headcount to support expected growth in the direct billing channel, increased engineering activity and headcount resulting in higher research and development spending, and higher advertising expenditures. Advertising costs of $2.2 million were up 162% over the second quarter of 2024. While cost per lead was comparable to the prior-year period, and a record number of leads were generated, the leads were of a lesser quality than prior to the algorithm change imposed by one of our digital vendors in the first quarter. As a result, cost per direct billing pipeline add was $2,926, an increase of 89% compared with the second quarter of 2024. Year-to-date operating expenses were $20.8 million, an increase of 64% compared with the same period in 2024. To better align growth in operating expenses with revenues, the Company reduced the size of its workforce by approximately 8% in July and is eliminating certain spending on outside services. Together, these actions are expected to reduce cash expenditures by at least $2 million over the next 12 months. Operating loss for the second quarter of 2025 was $4.6 million, compared with an operating loss of $1.1 million for the second quarter of 2024. Year-to-date operating loss was $8.1 million, compared with an operating loss of $5.0 million for the same period in 2024. Net loss for the second quarter of 2025 was $4.6 million, or $0.11 per share, compared with a net loss of $1.1 million, or $0.03 per share, for the second quarter of 2024. Year-to-date net loss was $8.1 million, or $0.20 per share, compared with a net loss of $5.0 million, or $0.13 per share, for the same period in 2024. Adjusted EBITDA for the second quarter of 2025 was $(4.0) million, compared with $(1.2) million for the second quarter of 2024. Year-to-date Adjusted EBITDA was $(6.8) million, compared with $(4.7) million for the same period a year ago. A reconciliation of GAAP net loss to this non-GAAP financial measure appears below. Operations Update The MyoPro pipeline was 1,611 patients as of June 30, 2025, compared with 1,179 patients as of June 30, 2024, an increase of 37%. While challenges with lead generation in the first quarter have been solved, the quality of leads generated in the second quarter was not as anticipated. A total of 816 medically-qualified patients were added to the pipeline during the second quarter of 2025, an increase of 49% compared with the same period a year ago. The Company generated 207 MyoPro authorizations and orders in the second quarter of 2025, a decrease of 3% compared with the same period a year ago. Slower authorizations and orders combined with higher velocity of revenue affected the ending backlog, which was 230 patients as of June 30, 2025, a decrease of 18% compared with June 30, 2024. "We believe there are three factors impacting our key operating metrics. First is the quality of leads being generated after applying changes to our digital advertising in response to the algorithm change. Second is lower conversion rates to both pipeline adds and authorizations and orders. The key drivers are patient response after they contact us, the clinical presentations of patients we're seeing and the enhanced outcome focus of our clinical team which is disqualifying more patients from MyoPro eligibility. Third is a cycle time effect related to pipeline adds. A retrospective cohort analysis shows that 40-50% of pipeline adds in a given quarter come from leads generated a year or more ago. Therefore, we believe that a significant amount of our 2025 advertising spending will generate pipeline adds in 2026 and beyond. The actions we are taking, along with maintaining the current level of advertising spending, are expected to positively impact our operating metrics in the near term," added Gudonis. Cash Position Cash, cash equivalents and short-term investments as of June 30, 2025 were $15.5 million. The Company bolstered its cash balance by borrowing $4.0 million against its line of credit and term loan facilities in the second quarter. Excluding these borrowings, cash, cash equivalents and short-term investments decreased by approximately $10.0 million compared with March 31, 2025. Cash used in operating activities was $8.9 million for the second quarter of 2025, compared with $1.9 million used in the second quarter of 2024. "Several factors contributed to the elevated use of cash, including the higher operating loss, capital expenditures for software development, improvements to the additional space in our manufacturing facility and demo units for clinicians and the O&P channel. Cash use also reflected higher cash requirements for working capital, including payment of 2024 incentive compensation of $2.9 million, a payment hold by one of the DME MACs in order to process our address change, which impacted cash flow by approximately $1.5 million, a further increase in days sales outstanding due to pre-payment audits being undertaken by two of the other DME MACs and a repayment to an insurance payer for an overpayment in a prior period," said David Henry, Chief Financial Officer. "The payment hold has been removed and the aged receivables were paid at the beginning of August," he added.. "Regarding the pre-payment audits, most claims with audit determinations have been paid and only a handful have been denied, which we intend to appeal. Excluding non-recurring cash outflows, our normalized cash burn was $4.9 million in the second quarter, which is a close approximation of the total cash burn we expect in the second half of the year." The Company believes its cash, cash equivalents and short-term investments are sufficient to fund its operations for the next 12 months. Business Outlook "We are updating our 2025 revenue guidance to a range of $40 million to $42 million, compared with our previous guidance range of $50 million to $53 million, which represents an increase of 23% to 29% versus 2024. Revenue for the third quarter of 2025 is expected to be in the range of $9.5 million to $10.0 million," said Gudonis. Conference Call and Webcast Myomo will hold a conference call today at 4:30 p.m. Eastern time to discuss these results and answer questions. Participants are encouraged to pre-register for the call at this link. Callers who pre-register will receive a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time up to and after the start of the call. Those unable to pre-register may participate by dialing 844-707-6932 (U.S.) or 412-317-9250 (International). A webcast of the call will also be available at Myomo's Investor Relations page at Additionally, several charts will be referenced on today's conference call and they are available on the Investor Relations page of Myomo's website at Investors are encouraged to review these charts for additional context regarding our operating metrics and pipeline performance. A replay of the webcast will be available beginning approximately one hour after the completion of the live conference call at A dial-in replay of the call will be available until May 21, 2025 at 877-344-7529 (U.S. toll-free), 855-669-9658 (Canada toll-free) or 412-317-0088 (International), with passcode 6665274. Non-GAAP Financial Measures Myomo is providing financial information that has not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. This information includes Adjusted EBITDA. This non-GAAP financial measure is not in accordance with, or an alternative for, GAAP and may be different from similar non-GAAP financial measures used by other companies. Myomo believes the use of this non-GAAP financial measure provides supplementary information for investors to use in evaluating operating performance and in comparing Myomo's financial measures with other companies in its industry, many of which present similar non-GAAP financial measures. Adjusted EBITDA is EBITDA adjusted for stock-based compensation expense. This non-GAAP financial measure is not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP, and should be viewed in conjunction with GAAP financial measures. Investors are encouraged to review the reconciliation of this non-GAAP measure to its most directly comparable GAAP financial measure. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables included as part of this press release. About Myomo Myomo, Inc. is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper-limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered upper-limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of certain patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury or other neuromuscular disease or injury. It is currently the only marketed device in the U.S. that, sensing a patient's own EMG signals through non-invasive sensors on the arm, can restore an individual's ability to perform activities of daily living, including feeding themselves, carrying objects and doing household tasks. Many are able to return to work, live independently and reduce their cost of care. Myomo is headquartered in Burlington, Massachusetts, with sales and clinical professionals across the U.S. and representatives internationally. For more information, please visit Forward-Looking Statements This press release contains forward-looking statements regarding the Company's future business expectations, including expectations for third quarter and full year 2025 revenue, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. These factors include, among other things: our ability to obtain sufficient reimbursement from third-party payers for our products; our dependence on external sources for the financing of our operations; our ability to scale the business to achieve positive cash flow from operations; our revenue concentration with Medicare and with a particular insurance payer as a result of focusing our efforts on patients with insurers who have previously reimbursed for the MyoPro; our ability to continue normal operations and patient interactions without supply chain disruption in order to deliver and fit our custom-fabricated devices; our marketing and commercialization efforts; our ability to obtain and maintain our strategic collaborations and to realize the intended results of such collaborations; our ability to remediate the material weakness in our internal control over financial reporting; our expectations as to our product development programs, including improving our existing products and developing new products; our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our products; our expectations as to our clinical research program and clinical results; our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others; our ability to gain and maintain regulatory approvals; our ability to compete and succeed in a highly competitive and evolving industry; and general market, economic, environmental and social factors that may affect the evaluation, fitting, delivery and sale of our products to patients. More information about these and other factors that potentially could affect our financial results is included in Myomo's filings with the Securities and Exchange Commission, including those contained in the risk factors section of the Company's annual report on Form 10-K, quarterly reports on Form 10-Q and other filings with the Commission. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Although the forward-looking statements in this release of financial information are based on our beliefs, assumptions and expectations, taking into account all information currently available to us, we cannot guarantee future transactions, results, performance, achievements or outcomes. No assurance can be made to any investor by anyone that the expectations reflected in our forward-looking statements will be attained, or that deviations from them will not be material or adverse. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. (Tables follow) MYOMO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2025 2024 (unaudited) ASSETS Current Assets: Cash and cash equivalents $ 14,240,432 $ 24,372,373 Short-term investments 1,241,515 492,990 Accounts receivable, net 7,054,545 3,825,291 Inventories 4,125,597 3,165,965 Prepaid expenses and other current assets 1,381,721 933,377 Total Current Assets 28,043,810 32,789,996 Restricted Cash 375,000 375,000 Operating lease assets with right of use 7,058,063 7,584,663 Equipment, net 2,908,804 1,330,008 Other assets 286,670 164,412 Total Assets $ 38,672,347 $ 42,244,079 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued expenses 8,313,862 9,021,817 Current operating lease liability 460,351 748,021 Income taxes payable 204,110 318,885 Deferred revenue 108,780 83,115 Current portion long-term debt 166,667 — Revolving credit line 2,500,000 — Total Current Liabilities 11,753,770 10,171,838 Non-current operating lease liability 7,970,116 7,358,184 Long-term debt 1,333,333 — Total Liabilities 21,057,219 17,530,022 Commitments and Contingencies — — Stockholders' Equity: Preferred stock — — Common stock 3,778 3,439 Additional paid-in capital 128,781,048 127,846,026 Accumulated other comprehensive income (loss) 48,334 (14,406 ) Accumulated deficit (111,211,568 ) (103,114,538 ) Treasury stock, at cost (6,464 ) (6,464 ) Total Stockholders' Equity 17,615,128 24,714,057 Total Liabilities and Stockholders' Equity $ 38,672,347 $ 42,244,079 Expand MYOMO, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Six Months Ended June 30, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (8,097,030 ) $ (4,957,239 ) Adjustments to reconcile net loss to net cash used in operations: Depreciation 349,240 65,663 Stock-based compensation 935,093 228,395 Accretion of discount on short-term investments (108,999 ) — Credit losses 51,643 5,257 Amortization of deferred offering costs 60,045 — Amortization of right-of-use assets 526,600 124,057 Other non-cash charges (91,984 ) 44,631 Changes in operating assets and liabilities: Accounts receivable (2,975,272 ) (102,234 ) Inventories (1,204,740 ) (816,055 ) Prepaid expenses and other current assets (615,940 ) (363,375 ) Other assets (130,801 ) (214,937 ) Accounts payable and accrued expenses (531,182 ) 990,973 Income taxes payable (144,392 ) 176,235 Operating lease liabilities 140,536 (237,365 ) Deferred revenue 25,666 3,505 Tenant improvement allowance 183,726 — Net cash used in operating activities (11,542,175 ) (5,161,488 ) CASH USED IN INVESTING ACTIVITIES (2,653,446 ) (1,211,930 ) CASH PROVIDED BY FINANCING ACTIVITIES 3,963,494 5,361,909 Effect of foreign exchange rate changes on cash 100,186 (13,697 ) 'Net (decrease) increase in cash and cash equivalents (10,131,941 ) (1,025,206 ) Expand MYOMO, INC. RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA (unaudited) For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 2025 2024 Adjustments to reconcile to Adjusted EBITDA: Interest income (106,549 ) (107,242 ) (298,540 ) (242,535 ) Depreciation expense 190,798 35,979 349,240 65,663 Stock-based compensation 394,889 (91,893 ) 935,093 228,395 Income tax expense 148,201 113,785 284,996 195,943 Adjusted EBITDA $ (4,004,633 ) $ (1,170,978 ) $ (6,826,241 ) $ (4,709,773 ) Expand
Yahoo
3 days ago
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OS Therapies Announces Statistically Significant Positive Interim 2-Year Overall Survival Data from Phase 2b Clinical Trial of OST-HER2 in the Prevention or Delay of Recurrent, Fully Resected, Pulmonary Metastatic Osteosarcoma
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Additionally, the US Food & Drug Administration ("FDA") issued a Biologics Licensing Application ("BLA") number for OST-HER2 to receive a BLA submission following the Company's pending August 27, 2025 End of Phase 2 Meeting. The Company has responded to FDA correspondences seeking to align approval metrics for Regenerative Medicine Advanced Therapy (RMAT) designation, Breakthrough Therapy designation (BTD) and BLA via the Accelerated Approval Program. "We are seeking to bring this novel immunotherapy to market to improve the survival rates in pulmonary metastatic osteosarcoma, and today's updated interim overall survival data continues to show a statistically significant benefit for OST-HER2 treated patients compared with control," said Paul Romness, MPH, Chairman & CEO of OS Therapies. "We believe that continued statistically significant outperformance in overall survival of OST-HER2 treated patients compared with historical control, together with the statistically significant positive 12-month Event Free Survival data presented at MIB Factor in June 2025, will provide the necessary scientific and medical basis to support a BLA under the FDA's Accelerated Approval Program." Concurrent with this announcement, the Company today announced that its NYSE American listing is included in the Russell Microcap, Russell Microcap Value and Russell Microcap Growth indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the US Russell Microcap Index and the Russell indexes reconstitution, including Russell 2000 and Russell 3000 reconstitution, please visit the FTSE Russell website. About OS Therapies OS Therapies is a clinical stage oncology company focused on the identification, development, and commercialization of treatments for Osteosarcoma (OS) and other solid tumors. OST-HER2, the Company's lead asset, is an immunotherapy leveraging the immune-stimulatory effects of Listeria bacteria to initiate a strong immune response targeting the HER2 protein. OST-HER2 has received Rare Pediatric Disease Designation (RPDD) from the U.S. Food & Drug Administration and Fast-Track and Orphan Drug designations from the U.S. FDA and European Medicines Agency. The Company reported positive data in its Phase 2b clinical trial of OST-HER2 in recurrent, fully resected, lung metastatic osteosarcoma, demonstrating statistically significant benefit in the 12-month event free survival (EFS) primary endpoint of the study. The Company anticipates submitting a Biologics Licensing Application (BLA) to the U.S. FDA for OST-HER2 in osteosarcoma in 2025 and, if approved, would become eligible to receive a Priority Review Voucher that it could then sell. OST-HER2 has completed a Phase 1 clinical study primarily in breast cancer patients, in addition to showing preclinical efficacy data in various models of breast cancer. OST-HER2 has been conditionally approved by the U.S. Department of Agriculture for the treatment of canines with osteosarcoma. In addition, OS Therapies is advancing its next-generation Antibody Drug Conjugate (ADC) and Drug Conjugates (DC), known as tunable ADC (tADC), which features tunable, tailored antibody-linker-payload candidates. This platform leverages the Company's proprietary silicone Si-Linker and Conditionally Active Payload (CAP) technology, enabling the delivery of multiple payloads per linker. For more information, please visit Forward-Looking Statements Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements and terms such as "anticipate," "expect," "intend," "may," "will," "should" or other comparable terms involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of OS Therapies and members of its management, as well as the assumptions on which such statements are based. This information concerns product candidates that are under clinical investigation and which have not yet been approved for marketing by the U.S. Food and Drug Administration (FDA). These product candidates are currently limited by Federal law to investigational use, and no representation is made as to their safety or effectiveness for the purposes for which they are being investigated. OS Therapies cautions readers that forward-looking statements are based on management's expectations and assumptions as of the date of this news release and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to the approval of OST-HER2 by the FDA and other risks and uncertainties described under the heading "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other subsequent documents the Company files with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by the federal securities laws, OS Therapies specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. OS Therapies Contact Information: Investor RelationsHarrison Seidner, PhDWaterSeid PartnersOSTX@ Public RelationsStephanie ChenElev8 New Mediastephanie@ 1 A.H. Aljubran, A. Griffin, M. Pintilie, M. Blackstein; Osteosarcoma in adolescents and adults: survival analysis with and without lung metastases; Annals of Oncology; Volume 20, Issue 6; 2009;1136-41 To view the source version of this press release, please visit 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
3 days ago
- Business Wire
NHC Reports Second Quarter 2025 Earnings
MURFREESBORO, Tenn.--(BUSINESS WIRE)-- National HealthCare Corporation (NYSE American: NHC), the nation's oldest publicly traded senior health care company, announced today net operating revenues for the quarter ended June 30, 2025 totaled $374,910,000 compared to $300,658,000 for the quarter ended June 30, 2024, an increase of 24.7%. The increase in net operating revenues for the second quarter of 2025 compared to the second quarter of 2024 was due to an 9.6% increase in same-facility net operating revenues, as well as the August 1, 2024 acquisition of White Oak Management, Inc. ('White Oak'). For the quarter ended June 30, 2025, the reported GAAP net income attributable to NHC was $23,722,000 compared to $26,844,000 for the same period in 2024. Excluding the unrealized gains and losses in our marketable equity securities portfolio and other non-GAAP adjustments, adjusted net income for the quarter ended June 30, 2025 was $25,710,000 compared to $15,612,000 for the same period in 2024, an increase of 64.7% (*). The GAAP diluted earnings per share were $1.52 and $1.73 for the quarters ending June 30, 2025 and 2024, respectively. Adjusted diluted earnings per share were $1.65 and $1.00 for the quarters ending June 30, 2025 and 2024, respectively (*). (*) - See the tables below that provide a reconciliation of GAAP to non-GAAP items. Expand About NHC As of August 1, 2025, NHC affiliates operate for themselves and third parties 80 skilled nursing facilities with 10,329 beds. NHC affiliates also operate 26 assisted living communities with 1,413 units, nine independent living communities with 777 units, three behavioral health hospitals, 34 homecare agencies, and 33 hospice agencies. NHC's other services include Alzheimer's and memory care units, pharmacy services, a rehabilitation services company, and providing management and accounting services to third party post-acute operators. Other information about the company can be found on our web site at Non-GAAP Financial Presentation The Company is providing certain non-GAAP financial measures as the Company believes that these figures are helpful in allowing investors to more accurately assess the ongoing nature of the Company's operations and measure the Company's performance more consistently across periods. Therefore, the Company believes this information is meaningful in addition to the information contained in the GAAP presentation of financial information. The presentation of this additional non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Forward-Looking Statements Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. The risks and uncertainties are detailed from time to time in reports filed by NHC with the S.E.C., including Forms 8-K, 10-Q, and 10-K. All forward-looking statements represent NHC's best judgment as of the date of this release. Selected Operating Statistics Three Months Ended Six Months Ended June 30 June 30 2025 2024 2025 2024 (unaudited) (unaudited) Skilled Nursing Per Diems: Medicare $ 614.85 $ 577.71 $ 613.47 $ 579.81 Managed Care 486.17 447.96 489.30 459.48 Medicaid 286.43 264.49 284.07 264.88 Private Pay and Other 341.34 312.91 339.24 310.31 Average Skilled Nursing Per Diem $ 361.42 $ 338.86 $ 360.78 (1) $ 341.21 (1) Skilled Nursing Patient Days: Medicare 83,615 74,602 169,869 155,758 Managed Care 83,015 62,957 166,661 128,388 Medicaid 368,687 279,504 732,329 561,325 Private Pay and Other 194,202 150,234 378,796 307,677 Total Skilled Nursing Patient Days 729,519 567,297 1,447,655 (1) 1,153,148 (1) (1) NHC exited three skilled nursing facilities in Missouri on March 1, 2024. For the six months ended June 30, 2024, the exited Missouri skilled nursing facilities had an average skilled nursing per diem of $275.64 and 20,267 patient days. The tables below provide reconciliations of GAAP to non-GAAP items (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30 June 30 2025 2024 2025 2024 (unaudited) (unaudited) Net income attributable to National Healthcare Corporation $ 23,722 $ 26,844 $ 55,927 $ 53,057 Non-GAAP adjustments Unrealized (gains)/losses on marketable equity securities 5,061 (9,124 ) (5,921 ) (23,523 ) Operating losses for newly-opened operations not at full capacity - 20 - 20 Gain on sale of property and equipment (3,606 ) - (3,606 ) - Gain on sale of unconsolidated company - - - (1,024 ) Stock-based compensation expense 1,232 1,176 2,260 1,969 Acquisition-related expenses - 2,194 - 2,194 Employee retention credit - (9,445 ) - (9,445 ) Income tax provision/(benefit) on non-GAAP adjustments (699 ) 3,947 1,889 7,750 Non-GAAP Net income $ 25,710 $ 15,612 $ 50,549 $ 30,998 GAAP diluted earnings per share $ 1.52 $ 1.73 $ 3.59 $ 3.42 Non-GAAP adjustments Unrealized (gains)/losses on marketable equity securities 0.32 (0.59 ) (0.38 ) (1.51 ) Gain on sale of property and equipment (0.23 ) - (0.23 ) - Gain on sale of unconsolidated company - - - (0.07 ) Stock-based compensation expense 0.08 0.08 0.14 0.13 Acquisition-related expenses - 0.14 - 0.14 Employee retention credit - (0.61 ) - (0.61 ) Income tax provision/(benefit) on non-GAAP adjustments (0.04 ) 0.25 0.12 0.50 Non-GAAP diluted earnings per share $ 1.65 $ 1.00 $ 3.24 $ 2.00 Expand
