Q4 2025 US Physical Therapy Inc Earnings Call Transcript
Key Points
- Adjusted EBITDA increased by $13.2 million, a 16.2% improvement over the prior year.
- Revenue increased by 16.3%, with physical therapy and injury prevention businesses growing by 16% and 18% respectively.
- Gross profit in physical therapy operations increased by approximately 21%, with similar growth in the injury prevention business.
- Several strategic acquisitions were made, including a significant one in the Pacific Northwest, enhancing service offerings and market presence.
- New long-term hospital arrangements are expected to improve patient reach and contribute significantly to EBITDA by 2027.
- Continued Medicare rate reductions posed challenges, although the company managed to deliver progress.
- Operating costs in physical therapy increased by 15.3% compared to the previous year.
- Despite revenue growth, there was a slight decrease in operating costs per visit, indicating ongoing cost pressures.
- The injury prevention segment experienced a sequential decline in gross margin, attributed to staffing up for new contracts.
- Mature clinics showed slower growth, although there was some improvement in the fourth quarter.
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Good day and thank you for standing by.
Welcome to the US Physical Therapy 4th quarter 2025 and full year earnings conference call.
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I'd now like to turn the call over to Chris Redding, Chairman and CEO. Please go ahead, sir.
Thank you. Good morning and welcome everyone to our US Physical Therapy earnings
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