爱德斯 2025年季度报告

For the quarterly period endedMarch 31,2025 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the transition period fromCommission file number001-34504 Delaware(State or other jurisdiction ofincorporation or organization) 6303 Cowboys Way,Suite 600 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”“smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large Accelerated Filer☒Accelerated Filer☐Non-Accelerated Filer☐Smaller Reporting Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Financial StatementsADDUS HOMECARE CORPORATIONAND SUBSIDIARIES AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSFor the Three Months Ended March 31, 2025 and 2024 For the Three MonthsEnded March 31,20252024Cash flows from operating activities:Net income$21,228$Adjustments to reconcile net income to net cash provided by (used in) operating Provision for credit lossesGain on disposal of assets Loss on termination of operating leases23Changes in operating assets and liabilities, net of acquisitions:Accounts receivable(9,459)Prepaid expenses and other current assets8,323Government stimulus advances(2,537) Cash flows from investing activities:Acquisitions of businesses, net of cash acquired(3,350)Purchases of property and equipment(1,883)Proceeds received from disposal of assets7 Cash flows from financing activities: Payments on revolver — credit facility(20,000)Payments for debt issuance costs under the credit facility(21)Cash received from exercise of stock options493 Net change in cashCash, at beginning of period Cash, at end of period Supplemental disclosures of cash flow information:Cash paid for interest$3,743$Cash paid (refunded) for income taxes(11) Notes to Condensed Consolidated Financial Statements Basis of Presentation The accompanying Unaudited Condensed Consolidated Financial Statements and related notes have been prepared inaccordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for Quarterly Reports on Form10-Q. The accompanying balance sheet as of December 31, 2024 has been derived from the Company’s audited financialstatements for the year ended December 31, 2024 previously filed with the SEC. Accordingly, these financial statements do notinclude all of the information and note disclosures required by accounting principles generally accepted in the United States ofAmerica (“GAAP”) for annual financial statements and should be read in conjunction with our consolidated financial statements Principles of Consolidation These Unaudited Condensed Consolidated Financial Statements include the accounts of Addus HomeCare Corporation andits subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.2. Summary of Significant Accounting Policies 7disclosures based on assumptions about future events. The Company’s critical accounting estimates include the following areas:revenue recognition, goodwill and intangibles and business combinations, and when required, the quantitative assessment ofgoodwill. Actual results could differ from those estimates. Computation of Weighted Average SharesThe following table sets forth the computation of basic and diluted common shares:For the Three Months Ended March 31,(Amounts in thousands)20252024 Recently Adopted Accounting Pronouncements Segment Disclosures, which expands reportable segment disclosure requirements, primarily through enhanced disclosures aboutsignificant segment expenses. The amendments in the ASU require, among other things, disclosure of significant segment expensesthat are regularly provided to an entity’s chief operating decision maker (“CODM”) and a description of other segment items (thedifference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported deciding how to allocate resources. The ASU was adopted in connection with the Company's most recent Annual Report on Form10-K, which included significant segment expenses reviewed by the Company’s CODM, but did not have a material impact on the Company’s results of operations, financial position, or cash flows.Recently Issued Accounting Pronouncements Accrued payroll Total current liabilitiesLong-term liabilities Operating lease liabilities, long-term portion March 31, 2025December 31, 2024(Amounts in Thousands)Operating lease assets, net$45,064$ Long-term operating lease liabilities39,414Total operating lease liabilities$52,063$ Lease Costs Consolidated