Company Reports Q4 Revenue of $397.6M, Exceeding Expectations

Reports Q4 revenue $397.6M, consensus $390.0M. "2025 was a year of broad-based execution and disciplined investment, with results that exceeded our expectations across resident, revenue, and Adjusted EBITDA growth," said Fred Burke, CEO. "These results underscore the scalability of our platform and the dedication of our teams, who continue to deliver high-quality service and meaningful value to the residents and facility partners we serve. We exited the year with strong momentum and are accordingly raising our outlook for 2026 Adjusted EBITDA in a measured manner, consistent with our philosophy of guiding to what we can clearly see. A portion of the upside we experienced in the fourth quarter relative to our prior guidance reflects favorable payor dynamics and normal quarter-to-quarter variability, which we have not incorporated into our outlook. We view the underlying run rate of the business exiting 2025 as generating approximately $110 million of Adjusted EBITDA, and are raising our 2026 outlook on that basis. As we enter the first quarter under the initial phase of new IRA drug pricing changes, we are maintaining our 2026 revenue outlook provided in mid-January. We remain confident in the durability of our operating model and our ability to deliver sustained, long-term value for our shareholders."