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ATI Physical Therapy reports developments tied to its outpatient physical therapy and rehabilitation business in the United States. The company provides care for musculoskeletal pain through a nationwide clinic network, virtual services, workplace injury-prevention programs, athletic training support, and the ATI CONNECT online physical therapy platform.
Recurring news includes financial results and liquidity actions from its public-company period, debt and convertible-note financing, tender-offer activity, quality ratings under CMS MIPS, clinical-workforce education partnerships, and the completed merger that transitioned ATI from public to private ownership.
ATI Physical Therapy (NYSE: ATIP) reported strong growth in Q2 2024, with revenue increasing 9.2% to $188.1 million. Key highlights include:
- Patient visits up 6.4% to 24,921 per day
- Rate per Visit increased 3.4% to $108.32
- Adjusted EBITDA grew 77.5% to $16.6 million
- Net loss narrowed to $2.6 million from $21.7 million in Q2 2023
The company received an exceptional MIPS rating for the 5th consecutive year. For Q3 2024, ATI guides revenue between $180-$190 million and Adjusted EBITDA of $9-$14 million.
ATI Physical Therapy (NYSE: ATIP), a leading outpatient physical therapy provider in the United States, has announced that it will release its second quarter 2024 financial results on Monday, August 5, 2024, after the market closes. The company will host a conference call to review the results at 5 p.m. ET on the same day.
Investors and interested parties can access the live audio webcast of the conference call through the ATI Physical Therapy, Inc. Q2 2024 Earnings Conference Call link on the company's Investor Relations website at https://investors.atipt.com. Participants are advised to join at least 15 minutes early to register and download any necessary audio software. A replay of the call will be available for on-demand listening shortly after the call's completion and will remain accessible for approximately 90 days.
ATI Physical Therapy (NYSE: ATIP) has announced a settlement notice, which is now available on the investor relations section of its website. This update aims to inform stakeholders about the details of the settlement. ATI Physical Therapy is a prominent outpatient physical therapy provider in the US.
ATI Physical Therapy (NYSE: ATIP) has been recognized as a Great Place to Work® for 2024 by the globally recognized authority on workplace culture. ATI employs over 5,000 clinicians and support staff across 884 clinics nationwide and excels in physical therapy, workers' compensation rehab, employer worksite solutions, and sports medicine. Key highlights from the certification include 88% of employees believing patient care is excellent, 82% feeling a sense of camaraderie, and over 91% agreeing that ATI treats employees fairly irrespective of race, gender, age, or sexual orientation. The recognition underscores ATI's commitment to its core values of Trust, Patient Care, Excellence, Collaboration, and Innovation.
ATI Physical Therapy reported strong financial results for the first quarter of 2024, with net revenue of $181.5 million, an 8.7% increase from the first quarter of 2023. The company saw growth in patient visits and revenue, driven by operational excellence and capacity expansion. Adjusted EBITDA increased by 34.9% to $6.5 million. Despite a net loss, ATI remains optimistic about continued growth in 2024.
Tom Denninger appointed as Executive Director of the Institute for Musculoskeletal Advancement (iMSKA). Founded by ATI Physical Therapy, iMSKA aims to drive musculoskeletal research and post-secondary education. Mr. Denninger will lead the Institute in equipping, training, and transforming MSK care delivery through research and post professional development. iMSKA also announces an Advisory Board comprised of industry leaders. Applications for research fellowships and specialized programs will be available soon.
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