Nutex Health Inc.NUTX

Nutex Health Inc. Segments Disclosure

10-KFiled Mar 5, 20263 min read
Segment Information
We report the results of our operations as three segments in our consolidated financial statements: (i) the hospital division, (ii) the population health management division and (iii) the real estate division.
The Company’s chief operating decision maker (“CODM”) is our Chief Executive Officer. The determination of our reporting segments was made based on our strategic priorities, which corresponds to the manner in which our CODM reviews and evaluates operating performance to make decisions about resources to be allocated. For our operating segments, the CODM uses segment operating income and segment income before tax to allocate resources (including financial and capital resources) in the annual and forecasting processes. On a monthly basis, the CODM considers month-to-month and budget-to-actual variances on a monthly basis for both measures when allocating resources to segments.
Other hospital division expenses include expenses such as facility-specific utilities, marketing and advertising, repairs and maintenance, and other tax expenses. Corporate costs primarily include expenses for support functions and salaries and benefits for corporate employees and are excluded from segment operating results.
Reportable segment information, including intercompany transactions, is presented below (in thousands):
Year ended December 31,
202520242023
Revenue from external customers:
Hospital division$844,162 $449,064 $218,070 
Population health management division31,095 30,885 29,576 
Total revenue$875,257 $479,949 $247,646 
Revenue from inter-segment activities (expense):
Real estate division$2,490 $2,420 $(800)
Segment expenses:
Hospital division
Payroll$156,770 $114,158 $103,781 
Contract services162,723 77,789 19,455 
Medical supplies17,241 15,285 14,151 
Other hospital division expenses44,108 29,512 28,407 
Hospital division expenses380,842 236,744 165,794 
Population health management division expenses28,875 27,971 29,487 
Total segment expenses$409,717 $264,715 $195,281 
Depreciation and amortization:
Hospital division$18,734 $16,781 $15,941 
Population health management division1,360 1,533 1,648 
Real estate division436 658 3 
Total depreciation and amortization$20,530 $18,972 $17,592 
Segment operating income (loss):
Hospital division$444,027 $195,539 $36,336 
Population health management division690 1,381 (1,559)
Real estate division(436)(658)(3)
Total segment operating income$444,281 $196,262 $34,774 
Consolidated operating income (loss)
Total segment operating income$444,281 $196,262 $34,774 
Corporate and other costs(168,656)(65,564)(66,548)
Consolidated operating income (loss)$275,625 $130,698 $(31,774)
Segment other income (loss):
Hospital division
Interest expense, net$23,077 $18,284 $14,042 
Other expense (income)8,700 (333)142 
Hospital division income before income taxes$412,250 $177,588 $22,152 
Population health management division income (loss) before income taxes708 1,613 (1,656)
Real estate division loss before income taxes(436)(658)(3)
Non-segment loss before income taxes(167,741)(68,717)(68,984)
Income (loss) before income taxes$244,781 $109,826 $(48,491)
Capital expenditures:
Hospital division$2,647 $2,304 $9,497 
Total capital expenditures$2,647 $2,304 $9,497 
December 31,
20252024
Assets:
Hospital division$851,344 $607,590 
Population health management division29,505 28,338 
Real estate division37,676 19,392 
Total Assets$918,525 $655,320 
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Historical Timeline

Fiscal YearFiled
2025Mar 5, 2026Showing above
2024Mar 31, 2025
2023Mar 29, 2024
2022Mar 3, 2023

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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