BrightSpring Health Services, Inc.

For the period ended Jun 30, 2025. Filed Aug 1, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 1, 2025

BTSG$72.49+4.8%Stored close · as of Nov 10, 2026

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Condensed Consolidated Statements of Cash Flows

	For the Six Months Ended
	June 30,
	2025	2024
Operating activities:
Net income (loss)	$56,552	$(26,944)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation and amortization	84,000	98,993
Impairment of long-lived assets	4,019	1,980
Change in fair value of contingent consideration, net	2,003	—
Payment of contingent consideration in excess of acquisition date fair value	(1,500)	—
Provision for credit losses	40,658	13,118
Amortization of deferred debt issuance costs	5,543	6,937
Share-based compensation	38,483	39,984
Deferred income taxes, net	3,892	(49,260)
Loss on extinguishment of debt	—	12,726
Loss on disposition of fixed assets	1,161	24
Other	(1,422)	(1,438)
Change in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	(112,756)	(112,522)
Prepaid expenses and other current assets	24,411	21,737
Inventories	11,473	29,720
Trade accounts payable	53,277	41,329
Accrued expenses	(43,490)	(153,892)
Other assets and liabilities	(15,630)	(16,576)
Net cash provided by (used in) operating activities	$150,674	$(94,084)
Investing activities:
Purchases of property and equipment	$(42,057)	$(45,559)
Acquisitions of businesses	(6,754)	(43,611)
Other	1,377	540
Net cash used in investing activities	$(47,434)	$(88,630)
Financing activities:
Long-term debt borrowings	$—	$2,566,000
Long-term debt repayments	(23,720)	(3,370,970)
Proceeds from issuance of common stock on initial public offering, net	—	656,485
Proceeds from issuance of tangible equity units, net	—	389,000
(Repayments) borrowings of the Revolving Credit Facility, net	(63,300)	5,100
Payments of debt issuance costs	—	(43,188)
Repurchase of shares of common stock	—	(650)
Proceeds from shares issued under share-based compensation plan	9,062	404
Taxes paid related to net share settlement of equity awards	(4,512)	—
Shares issued for payment of acquisition	—	1,081
Payment of acquisition earn-outs	—	(2,656)
Purchase of redeemable noncontrolling interest	(5,100)	(300)
Payments of financing lease obligations	(6,691)	(5,636)
Net cash (used in) provided by financing activities	$(94,261)	$194,670
Net increase in cash and cash equivalents	8,979	11,956
Cash and cash equivalents at beginning of period	61,253	13,071
Cash and cash equivalents at end of period	$70,232	$25,027
Cash and cash equivalents included in assets held for sale at end of period	162	2,179
Cash and cash equivalents included in continuing operations at end of period	$70,070	$22,848

Condensed Consolidated Statements of Cash Flows (continued)

	For the Six Months Ended
	June 30,
	2025	2024
Supplemental disclosures of cash flow information:
Cash paid for:
Interest, net	$96,069	$110,905
Income taxes, net of refunds	$13,022	$23,692
Supplemental schedule of non-cash investing and financing activities:
Notes issued in connection with acquisitions	$—	$2,533
Financing lease obligations	$6,691	$6,282
Purchases of property and equipment in accounts payable	$4,103	$1,950
Consideration for purchase of redeemable noncontrolling interest in accounts payable	$—	$5,100

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