The Pennant Group Inc 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period endedSeptember30, 2025.☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period fromto. Commission file number:001-38900 THE PENNANT GROUP, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware83-3349931(State or Other Jurisdiction of(I.R.S. EmployerIncorporation or Organization)Identification No.) 1675 East Riverside Drive,Suite 150,Eagle,ID83616(Address of Principal Executive Offices and Zip Code)(208)506-6100(Registrant’s Telephone Number, Including Area Code)None(Former name, former address and former fiscal year, if changed since last report)________________ Securities registered pursuant to Section 12(b) of the Exchange Act: Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon Stock, par value $0.001 per sharePNTGNasdaq Global Select Market Securities registered pursuant to Section 12(g) of the Exchange Act: None Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subjectto such filing requirements for the past 90days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required tosubmit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule12b-2 of the Exchange Act: If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by a check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).☐Yes☒No As of November3, 2025,34,593,720shares of the registrant’s common stock were outstanding. THE PENNANT GROUP, INC.QUARTERLY REPORT ON FORM 10-QFOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025TABLE OF CONTENTS Item 1.Financial Statements (unaudited)Condensed Consolidated Balance Sheets as ofSeptember30, 2025 and December 31, 20241Condensed Consolidated Statements of Income for the three andninemonths endedSeptember30, 2025 and 20242Condensed Consolidated Statements of Stockholders’ Equity for the three andninemonths endedSeptember30,2025 and 20243Condensed Consolidated Statements of Cash Flows for theninemonths endedSeptember30, 2025 and 20245Notes to the Condensed Consolidated Financial Statements7Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations26Item 3.Quantitative and Qualitative Disclosures About Market Risk46Item 4.Controls and Procedures46 Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 6.ExhibitsSignatures PART I. FINANCIAL INFORMATION THE PENNANT GROUP, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(unaudited, in thousands, except par value) September 30, 2025December 31, 2024 THE PENNANT GROUP, INC.CONDENSED CONSOLIDATED STATEMENTS OF INCOME(unaudited, in thousands, except for per-share amounts) THE PENNANT GROUP, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited, in thousands) THE PENNANT GROUP, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - (Continued)(unaudited, in thousands) See accompanying notes to condensed consolidated financial statements. THE PENNANT GROUP INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(In thousands, except per share data and operational senior living units) 1.DESCRIPTION OF BUSINESS The Pennant Group, Inc. (herein referred to as “Pennant,” the “Company,” “it,” or “its”), is a holding company with no directoperating assets, employees or revenue. The Company, through its independent operating subsidiaries, provides healthcare servicesacross the post-acute care continuum. As of September 30, 2025, the Company’s subsidiaries operated141home health, hospice andhome care agencies and61senior living communities located in Arizona, California, Colorado, Idaho, Montana, Nevada, Oklahoma,Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. We also provide home health and hospice operational support through amanagement service agreement in Connecticut. Certain of the Company’s subsidiaries, collectively referred to as the Service Center, provide accounting, payroll, humanresources, info