$AVAH

Aveanna Healthcare Holdings, Inc.

CIK:0001832332|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Income Statement [Abstract]
Revenue	$ 670,483	$ 589,553	$ 1,318,398	$ 1,148,777
Cost of revenue, excluding depreciation and amortization	451,958	378,753	894,445	754,419
Branch and regional administrative expenses	97,079	90,069	192,871	181,456
Corporate expenses	34,083	34,529	68,239	72,034
Depreciation and amortization	2,849	2,617	5,893	5,211
Acquisition-related costs	4,390	3,400	7,500	3,506
Other operating expense	144	151	144	316
Operating income	79,980	80,034	149,306	131,835
Interest income	1,259	129	2,917	261
Interest expense	(27,776)	(36,003)	(56,934)	(72,338)
Other income (expense)	3,010	(22)	6,159	(5,472)
Income before income taxes	56,473	44,138	101,448	54,286
Income tax expense	(16,180)	(17,113)	(19,502)	(22,068)
Net income	$ 40,293	$ 27,025	$ 81,946	$ 32,218
Net income per share:
Net income per share, basic	$ 0.19	$ 0.13	$ 0.38	$ 0.16
Weighted average shares of common stock outstanding, basic	217,799	200,968	216,197	197,819
Net income per share, diluted	$ 0.18	$ 0.13	$ 0.37	$ 0.16
Weighted average shares of common stock outstanding, diluted	224,864	210,442	223,482	206,763

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025
Cash Flows From Operating Activities:
Net income	$ 81,946	$ 32,218
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	5,893	5,211
Amortization of deferred debt issuance costs	1,948	3,350
Reduction in carrying amount of operating lease right of use assets	9,295	8,704
Non-cash share-based compensation	8,282	16,155
Loss on disposal or impairment of licenses, property and equipment, and software	120	319
Fair value adjustments on interest rate derivatives	1,230	17,580
Deferred income taxes	0	607
Changes in operating assets and liabilities, net of impact of acquisitions:
Patient accounts receivable	(12,819)	(31,033)
Prepaid expenses	1,009	1,490
Other current and long-term assets	7,345	(3,813)
Accounts payable and other accrued liabilities	94	8,191
Accrued payroll and employee benefits	(12,158)	111
Insurance reserves	9,573	(4,929)
Operating lease liabilities	(9,714)	(9,479)
Other current and long-term liabilities	(6,767)	(1,745)
Net cash provided by operating activities	85,277	42,937
Cash Flows From Investing Activities:
Acquisitions of businesses, net of cash acquired	(169,443)	(14,853)
Payment for interest rate cap premium	(4,634)	0
Purchases of property and equipment, and software	(5,847)	(3,477)
Net cash used in investing activities	(179,924)	(18,330)
Cash Flows From Financing Activities:
Payment for shares withheld to cover employee taxes on vesting of restricted stock	(478)	(6,292)
Proceeds from employee stock purchase plan	2,461	1,791
Proceeds from exercise of options	605	0
Principal payments on term loans	(3,312)	(4,600)
Principal payments on notes payable	(4,961)	(4,086)
Payment of debt issuance costs	0	(1,114)
Settlements with interest rate swap counterparties	4,268	6,144
Net cash used in financing activities	(1,417)	(8,157)
Net change in cash and cash equivalents	(96,064)	16,450
Cash and cash equivalents at beginning of period	193,260	84,288
Cash and cash equivalents at end of period	97,196	100,738
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	54,884	69,193
Cash paid for income taxes, net of refunds received	12,973	15,723
Financed insurance premiums	$ 1,669	$ 1,842

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Current assets:
Cash and cash equivalents	$ 97,196	$ 193,260
Patient accounts receivable	337,233	313,358
Receivables under insured programs	3,754	2,758
Prepaid expenses	22,227	20,940
Other current assets	17,684	29,916
Total current assets	478,094	560,232
Property and equipment, net	18,442	16,653
Operating lease right of use assets	38,437	39,034
Goodwill	1,276,019	1,121,042
Intangible assets, net	99,820	92,559
Receivables under insured programs	38,343	28,806
Deferred income taxes	136,764	137,140
Other long-term assets	20,458	16,913
Total assets	2,106,377	2,012,379
Current liabilities:
Accounts payable and other accrued liabilities	32,408	31,967
Accrued payroll and employee benefits	98,245	108,085
Current portion of insurance reserves - insured programs	3,754	2,758
Current portion of insurance reserves	19,912	17,154
Securitization obligations	165,000	165,000
Current portion of long-term obligations	13,250	13,250
Current portion of operating lease liabilities	16,443	16,012
Other current liabilities	62,312	70,230
Total current liabilities	411,324	424,456
Long-term obligations, less current portion	1,284,631	1,286,652
Long-term insurance reserves - insured programs	38,343	28,806
Long-term insurance reserves	58,106	49,061
Operating lease liabilities, less current portion	25,966	27,413
Other long-term liabilities	0	800
Total liabilities	1,818,370	1,817,188
Commitments and contingencies (Note 11)
Deferred restricted stock units	730	730
Stockholders' equity:
Preferred stock, $0.01 par value as of July 4, 2026 and January 3, 2026 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.01 par value, 1,000,000,000 shares authorized; 217,510,046 and 210,996,359 issued and outstanding, respectively	2,182	2,110
Additional paid-in capital	1,360,278	1,349,480
Accumulated deficit	(1,075,183)	(1,157,129)
Total stockholders' equity	287,277	194,461
Total liabilities, deferred restricted stock units, and stockholders' equity	$ 2,106,377	$ 2,012,379