Addus HomeCare Corp
For the period ended May 4, 2026. Filed May 4, 2026.
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May 4, 2026 · Filed May 4, 2026
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Contents
EX-99.1 · About Addus HomeCare
About Addus HomeCare
Addus HomeCare is a provider of home care services that primarily include personal care services that assist with activities of daily living, as well as hospice and home health services. Addus HomeCare’s consumers are primarily persons who, without these services, are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Addus HomeCare’s payor clients include federal, state, and local governmental agencies, managed care organizations, commercial insurers, and private individuals. Addus HomeCare currently provides home care services to approximately 62,750 patients and consumers through 263 locations across 24 states. For more information, please visitwww.addus.com.
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ADDUS HOMECARE CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(amounts and shares in thousands, except per share data)
(Unaudited)
| Income Statement Information: | For the Three Months Ended March 31, | |
|---|---|---|
| 2026 | 2025 | |
| Net service revenues | $363,611 | $337,708 |
| Cost of service revenues | 247,738 | 230,031 |
| Gross profit | 115,873 | 107,677 |
| 31.9% | 31.9% | |
| General and administrative expenses | 77,771 | 73,220 |
| Depreciation and amortization | 4,030 | 3,943 |
| Total operating expenses | 81,801 | 77,163 |
| Operating income from continuing operations | 34,072 | 30,514 |
| Total interest expense, net | 1,641 | 3,516 |
| Income before income taxes | 32,431 | 26,998 |
| Income tax expense | 7,362 | 5,770 |
| Net income | $25,069 | $21,228 |
| Net income per diluted share: | $1.36 | $1.16 |
| Weighted average number of common shares outstanding: | ||
| Diluted | 18,486 | 18,311 |
| Cash Flow Information: | For the Three Months Ended March 31, | |
|---|---|---|
| 2026 | 2025 | |
| Net cash provided by operating activities | $52,365 | $18,949 |
| Net cash used in investing activities | (1,692) | (1,378) |
| Net cash used in financing activities | (29,225) | (19,528) |
| Net change in cash | 21,448 | (1,957) |
| Cash at the beginning of the period | 81,617 | 98,911 |
| Cash at the end of the period | $103,065 | $96,954 |
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ADDUS HOMECARE CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Amounts in thousands)
(Unaudited)
| March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Assets | ||
| Current assets | ||
| Cash | $103,065 | $96,954 |
| Accounts receivable, net | 144,823 | 134,607 |
| Prepaid expenses and other current assets | 24,988 | 26,267 |
| Total current assets | 272,876 | 257,828 |
| Property and equipment, net | 24,657 | 24,701 |
| Other assets | ||
| Goodwill | 996,680 | 972,347 |
| Intangible assets, net | 100,488 | 107,644 |
| Operating lease assets | 40,999 | 45,064 |
| Total other assets | 1,138,167 | 1,125,055 |
| Total assets | $1,435,700 | $1,407,584 |
| Liabilities and stockholders' equity | ||
| Current liabilities | ||
| Accounts payable | $14,040 | $27,969 |
| Accrued payroll | 63,926 | 54,858 |
| Accrued expenses | 30,348 | 29,748 |
| Operating lease liabilities, current portion | 13,139 | 12,649 |
| Government stimulus advance | 14,637 | 8,702 |
| Accrued workers compensation | 13,385 | 14,010 |
| Total current liabilities | 149,475 | 147,936 |
| Long-term debt, less current portion, net of debt issuance costs | 91,274 | 198,740 |
| Long-term operating lease liabilities, less current portion | 34,331 | 39,414 |
| Deferred tax liabilities, net | 44,205 | 25,986 |
| Other long-term liabilities | 255 | 125 |
| Total long-term liabilities | 170,065 | 264,265 |
| Total liabilities | 319,540 | 412,201 |
| Total stockholders' equity | 1,116,160 | 995,383 |
| Total liabilities and stockholders' equity | $1,435,700 | $1,407,584 |
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ADDUS HOMECARE CORPORATION AND SUBSIDIARIES
Net Service Revenue by Segment
(Amounts in thousands)
(Unaudited)
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Net Service Revenues by Segment | ||
| Personal Care | $281,094 | $258,286 |
| Hospice | 65,785 | 61,437 |
| Home Health | 16,732 | 17,985 |
| Total Revenue | $363,611 | $337,708 |
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ADDUS HOMECARE CORPORATION AND SUBSIDIARIES
Key Statistical and Financial Data (Unaudited)
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Personal Care | ||
| States served at period end | 23 | 23 |
| Locations served at period end | 200 | 199 |
| Average billable census - same store (1) | 49,287 | 50,340 |
| Average billable census - acquistions | 996 | 81 |
| Average billable census - closed (2) | - | 57 |
| Average billable census total | 50,283 | 50,478 |
| Billable hours (in thousands) | 10,733 | 10,201 |
| Average billable hours per census per month | 71.1 | 67.4 |
| Billable hours per business day | 167,699 | 159,395 |
| Revenues per billable hour | $26.16 | $25.32 |
| Organic growth | ||
| - Revenue | 6.5% | 7.4% |
| Hospice | ||
| Locations served at period end | 40 | 38 |
| Admissions | 3,417 | 3,474 |
| Average daily census (3) | 3,804 | 3,515 |
| Average discharge length of stay | 110.6 | 97.4 |
| Patient days | 342,359 | 316,319 |
| Revenue per patient day | $191.42 | $194.23 |
| Organic growth | ||
| - Revenue | 7.7% | 9.9% |
| - Average daily census | 8.1% | 4.6% |
| Home Health | ||
| Locations served at period end | 22 | 23 |
| New Admissions | 4,694 | 4,708 |
| Recertifications | 2,523 | 2,982 |
| Total Volume | 7,217 | 7,690 |
| Visits | 80,892 | 94,593 |
| Organic growth | ||
| - Revenue | (6.6)% | 1.3% |
| - New Admissions | (0.3)% | (3.7)% |
| - Volume | (6.2)% | (4.6)% |
| Percentage of Revenues by Payor: | ||
| Personal Care | ||
| State, local and other governmental programs | 49.7% | 51.5% |
| Managed care organizations | 47.6 | 45.3 |
| Private duty | 2.2 | 2.7 |
| Commercial | 0.4 | 0.4 |
| Other | 0.1% | 0.1% |
| Hospice | ||
| Medicare | 94.4% | 92.4% |
| Commercial | 2.8 | 3.9 |
| Managed care organizations | 2.3 | 3.3 |
| Other | 0.5% | 0.4% |
| Home Health | ||
| Medicare | 61.1% | 69.9% |
| Managed care organizations | 23.7 | 21.2 |
| State, local and other governmental programs | 12.2 | 6.0 |
| Commercial | 2.5 | 2.5 |
| Other | 0.5% | 0.4% |
(1) The average billable census in acquisitions of 14,449 for the three months ended March 31, 2025, was reclassified to average billable census - same stores for comparability purposes.
(2) The average billable census for closed stores of 57 for the three months ended March 31, 2025 was reclassified to average billable census - closed stores for comparability purposes.
(3) Exited sites would have reduced ADC for the three months ended March 31, 2026 and March 31, 2025 by 2 and 6, respectively.
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.