BrightSpring Health Services, Inc.

For the period ended Sep 30, 2025. Filed Oct 28, 2025.

About this filing

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.

Sep 30, 2025 · Filed Oct 28, 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 Nine Months Ended
	September 30,
	2025	2024
Operating activities:
Net income (loss)	$111,793	$(35,925)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation and amortization	124,753	149,601
Impairment of long-lived assets	6,526	4,781
Change in fair value of contingent consideration, net	(1,266)	—
Payment of contingent consideration in excess of acquisition date fair value	(6,170)	—
Provision for credit losses	48,723	21,896
Amortization of deferred debt issuance costs	8,384	9,477
Share-based compensation	55,733	55,194
Deferred income taxes, net	18,266	(27,781)
Loss on extinguishment of debt	—	12,726
Loss (gain) on disposition of fixed assets	1,503	(55)
Other	(1,838)	(959)
Change in operating assets and liabilities, net of acquisitions:
Accounts receivable	(162,689)	(163,996)
Prepaid expenses and other current assets	24,857	(2,470)
Inventories	(2,279)	(74,265)
Trade accounts payable	42,836	155,563
Accrued expenses	17,212	(150,032)
Other assets and liabilities	(27,734)	(20,593)
Net cash provided by (used in) operating activities	$258,610	$(66,838)
Investing activities:
Purchases of property and equipment	$(57,819)	$(65,602)
Acquisitions of businesses	(8,308)	(59,755)
Other	(5,068)	900
Net cash used in investing activities	$(71,195)	$(124,457)
Financing activities:
Long-term debt borrowings	$—	$2,566,000
Long-term debt repayments	(37,933)	(3,384,633)
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)	46,400
Payments of debt issuance costs	—	(43,188)
Repurchase of shares of common stock	—	(650)
Proceeds from shares issued under share-based compensation plan	14,681	531
Taxes paid related to net share settlement of equity awards	(5,583)	—
Payment of acquisition earn-outs	—	(4,156)
Purchase of redeemable noncontrolling interest	(5,100)	(2,316)
Payments of financing lease obligations	(10,133)	(9,276)
Net cash (used in) provided by financing activities	$(107,368)	$214,197
Net increase in cash and cash equivalents	80,047	22,902
Cash and cash equivalents at beginning of period	61,253	13,071
Cash and cash equivalents at end of period	$141,300	$35,973
Cash and cash equivalents included in assets held for sale at end of period	956	427
Cash and cash equivalents included in continuing operations at end of period	$140,344	$35,546

Condensed Consolidated Statements of Cash Flows (continued)

	For the Nine Months Ended
	September 30,
	2025	2024
Supplemental disclosures of cash flow information:
Cash paid for:
Interest, net	$137,872	$164,927
Income taxes, net of refunds	$14,851	$24,312
Supplemental schedule of non-cash investing and financing activities:
Notes issued in connection with acquisitions	$—	$23,408
Financing lease obligations assumed	$10,452	$9,625
Purchases of property and equipment in accounts payable	$2,856	$3,593
Consideration for purchase of redeemable noncontrolling interest in accounts payable	$—	$5,100
Common stock issued in connection with acquisitions	$—	$31,081

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