Pediatrix Medical Group, Inc.

Listed Company

MDCIK 0000893949NYSELarge AcceleratedServices-HospitalsFloridaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$165.39M

Total Assets

$2.25B

Equity

$865.85M

Shares Out

83.00M

Op. Cash Flow

$271.09M

Business

Pediatrix Medical Group, Inc. is a provider of physician services focused on newborn, maternal-fetal and other pediatric subspecialty care delivered through an affiliated physician network. It offers clinical services including hospital-based neonatology in NICUs, maternal-fetal inpatient and office-based care, pediatric intensive care, hospitalist and surgical services, newborn hearing screening, telehealth, clinical research, education, quality and safety programs, and practice administration and revenue cycle solutions. Its operating structure centers on affiliated professional contractor practices, management services and clinical support platforms. Pediatrix delivers services to hospitals, health systems and payors across 36 states through contractual hospital staffing, in-office care and telemedicine channels.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenue	1,914	2,013	1,995	1,972	1,911
Practice salaries and benefits	1,341	1,441	1,448	1,383	1,297
Practice supplies and other operating expenses	79	118	125	122	100
General and administrative expenses	241	238	228	231	263
Depreciation and amortization	22	32	36	36	32
Transformational and restructuring related expenses	22	64	2	27	22
Goodwill impairment	—	151	148	0	0
Long-lived asset impairments	—	28	0	0	—
Loss on disposal of businesses	0	10	0	0	—
Total operating expenses	1,705	2,082	1,987	1,799	1,708
Income (loss) from operations	209	−69	7	173	203
Investment and other income	19	6	4	4	14
Net gain on investments in divested businesses	21	0	0	—	—
Interest expense	−36	−41	−42	−40	—
Impairment of strategic investment	—	0	−20	0	0
Equity in earnings of unconsolidated affiliate	4	2	2	2	2
Total non-operating income (expenses)	8	−33	−56	−91	−68
Income (loss) before income taxes	216	−101	−48	81	135
Income tax (provision) benefit	−51	2	−12	−19	−27
Net income (loss)	165	−99	−60	66	131
Unrealized holding gain on investments, net of tax of $526, $374 and $527	2	1	2	−5	−2
Total comprehensive income (loss)	167	−98	−59	61	129
Basic (per share)	1.97	−1.19	−0.73	0.79	1.54
Diluted (per share)	1.94	−1.19	−0.73	0.79	1.53
Basic (shares)	84	83	82	83	85
Diluted (shares)	85	83	82	84	86

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	375	230	73	10	387
Short-term investments	124	119	104	93	100
Accounts receivable, net	230	260	272	297	302
Prepaid expenses	13	13	14	15	19
Income Taxes receivable	13	13	8	0	—
Other current assets	9	5	12	13	19
Total current assets	764	640	483	428	841
Property and equipment, net	39	39	76	73	70
Goodwill	1,261	1,243	1,384	1,530	1,510
Intangible assets, net	17	12	21	18	22
Operating and finance lease right-of-use assets	34	39	70	67	65
Deferred income tax assets	74	104	103	106	88
Other assets	58	77	82	123	131
Total assets	2,247	2,153	2,220	2,348	2,723
Accounts payable and accrued expenses	420	399	351	374	—
Current portion of debt and finance lease liabilities, net	27	21	15	15	2
Current portion of operating lease liabilities	12	13	21	22	20
Income taxes payable	984,000	2	2	16	11
Total current liabilities	459	434	389	427	427
Long-term debt and finance lease liabilities, net	571	597	618	632	—
Long-term operating lease liabilities	26	32	47	44	41
Long-term professional liabilities	238	257	251	276	271
Deferred income tax liabilities	57	34	34	34	41
Other liabilities	30	33	31	39	42
Total liabilities	1,381	1,388	1,371	1,456	1,826
Commitments and contingencies	—	—	—	—	—
Preferred stock; $.01 par value; 1,000,000 shares authorized; none issued	0	0	0	0	0
Common stock; $.01 par value; 200,000,000 shares authorized; 82,976,110 and 85,866,000 shares issued and outstanding, respectively	830,000	859,000	840,000	829,000	864,000
Additional paid-in capital	948	1,014	1,000	984	1,050
Accumulated other comprehensive income (loss)	610,000	−1	−2	−4	1
Retained deficit	−83	−249	−149	−89	−155
Total shareholders' equity	866	765	849	892	896
Total liabilities and shareholders' equity	2,247	2,153	2,220	2,348	2,723

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of premiums, discounts and issuance costs	935,000	954,000	1	2	4
Impairment losses	0	178	168	0	0
Net gain on investments in divested businesses	−21	0	0	—	—
Stock-based compensation expense	18	12	12	16	19
Deferred income taxes	52	−2	3	−23	−31
Other	−5	−3	−3	144,000	−2
Accounts receivable	31	10	26	−6	−73
Prepaid expenses and other current assets	−3	3	514,000	16	42
Other long-term assets	22	34	23	17	10
Accounts payable and accrued expenses	28	51	−12	420,000	21
Income taxes (payable) receivable	−1	−5	−22	18	−2
Long-term professional liabilities	−9	17	837,000	6	2
Other liabilities	−26	−23	−29	−20	−23
Net cash provided by operating activities - continuing operations	275	217	146	182	114
Net cash used in operating activities - discontinued operations	−4	−11	−9	−15	−37
Net cash provided by operating activities	271	207	137	167	77
Acquisition payments, net of cash acquired	−23	−8	−7	−28	−30
Purchases of investments	−30	−65	−32	−17	−15
Proceeds from maturities or sales of investments	27	52	23	—	—
Proceeds from investment in divested business	30	0	0	—	—
Purchases of property and equipment	−18	−22	−33	−30	−32
Other	−3	7	807,000	—	—
Net cash used in investing activities	−18	−35	−48	−57	−53
Borrowings on credit agreement	0	236	470	830	0
Payments on credit agreement	0	−236	−474	−826	0
Payments on term loan	−19	−13	−13	−9	0
Payments of contingent consideration liabilities	−3	−1	−2	0	−189,000
Payments on finance lease obligations	−2	−3	−3	−3	−3
Proceeds from issuance of common stock	3	4	5	5	7
Repurchases of common stock	−87	−2	−919,000	−89	−5
Other	−63,000	135,000	−9	9	596,000
Net cash used in financing activities	−107	−14	−26	−488	−760
Net increase in cash and cash equivalents	145	157	63	−378	−736
Cash paid for interest	34	40	42	116	87
Equipment financed through finance leases	0	0	132,000	282,000	7
Property and equipment included in accounts payable	1	1	3	3	2

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