Welcome to our dedicated page for PACS Group SEC filings (Ticker: PACS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The PACS Group, Inc. (NYSE: PACS) SEC filings page on Stock Titan brings together the company’s regulatory disclosures from the U.S. Securities and Exchange Commission, along with AI-powered summaries to help interpret them. As a healthcare holding company in the post-acute care and medical care facilities space, PACS uses SEC reports to describe its facility portfolio, credit arrangements, governance, and risk profile.
Investors can review annual reports on Form 10-K and quarterly reports on Form 10-Q for detailed discussions of PACS Group’s operations, financial condition, and risk factors. These filings also provide context on the company’s role as a holding company, the structure of its independent operating subsidiaries, and the separation between licensed healthcare providers and non-provider entities. AI-generated highlights can point out key sections on post-acute care operations, use of credit facilities, and lease obligations.
Current reports on Form 8-K are particularly important for PACS, given its history of restatements, credit agreement amendments, and NYSE listing updates. Recent 8-K filings have addressed topics such as forbearance and amendments under the company’s amended and restated credit agreement, events of default and related waivers, NYSE listing extensions tied to delayed SEC filings, and the completion of an independent Audit Committee investigation and related restatements. AI summaries can help users quickly understand the implications of these events.
Users can also access proxy materials such as the Definitive Proxy Statement on Schedule 14A, which outlines matters presented to stockholders at the annual meeting, including director elections, auditor ratification, and advisory votes on executive compensation. In addition, the filings page provides real-time updates from EDGAR and convenient access to other forms, such as notifications of late filings on Form 12b-25. Together, these documents offer a comprehensive view of PACS Group’s regulatory history, governance decisions, and financial reporting, with AI tools available to simplify and explain complex disclosures.
PACS Group, Inc. (PACS), a skilled nursing and assisted living operator with 316 facilities and 34,627 total beds as of June 30, 2025, reported sharply improved results for the quarter. Total revenue rose to $1.31 billion from $935.7 million a year earlier, and operating income swung to $80.5 million from a loss. Net income attributable to PACS was $50.9 million, or $0.31 per diluted share, compared with a net loss of $31.9 million, or $(0.21) per share, in the prior-year quarter.
For the first six months of 2025, revenue reached $2.59 billion and net income attributable to PACS was $79.4 million, up from $2.9 million in the comparable 2024 period. Cash provided by operating activities more than doubled to $202.8 million, boosting cash and cash equivalents to $294.2 million from $157.7 million at year-end 2024. The company also reiterates that its 2024 quarterly financial statements were restated, mainly adjusting Medicare Part B revenue and certain lease classifications.
PACS Group, Inc. reports Q1 2025 results while reiterating prior restatements and detailing credit facility forbearance arrangements. For the three months ended March 31, 2025, total revenue was $1,277,150 thousand versus $919,836 thousand (as restated) a year earlier, driven by higher Medicare and Medicaid revenue. Net income attributable to PACS Group was $28,472 thousand, down from $34,817 thousand (as restated), as rent, labor and general and administrative expenses rose.
Operating cash flow strengthened to $150,244 thousand from $58,751 thousand, supporting a cash and cash equivalents balance of $287,512 thousand and total assets of $5,494,400 thousand. Total liabilities were $4,738,127 thousand, including significant long-term operating lease liabilities and debt, with stockholders’ equity of $750,228 thousand and 155,177,511 common shares outstanding as of March 31, 2025. The company restated Q1 2024 results, reducing patient and resident service revenue by $14,885 thousand and net income by $14,321 thousand mainly for Medicare Part B revenue and lease classification corrections, and describes multiple amendments and forbearance agreements under its Amended and Restated Credit Facility tied to technical events of default.
PACS Group, Inc. reports full-year 2024 results and discloses a major accounting restatement and control issues alongside strong operational scale. The company operates 314 post-acute facilities across 17 states, serving about 30,100 patients daily, and generated $4.1 billion in 2024 revenue, with net income of $55.3 million and Adjusted EBITDA of $279.5 million. As of December 31, 2024, long-term liabilities totaled $3.5 billion.
Following an Audit Committee investigation prompted by a short seller report, management concluded certain respiratory and therapy services billed under Medicare Part B did not meet ASC 606 revenue recognition criteria. PACS is restating its March 31 and June 30, 2024 interim financials within this 10-K and has identified material weaknesses in internal control over financial reporting, particularly around risk assessment, hotline issue escalation, and revenue processes for new services. The CEO and interim CFO determined disclosure controls were not effective as of year-end, though management believes the audited 2024 financials are fairly stated and is implementing remediation and broader compliance enhancements. The filing also highlights high-quality metrics at mature facilities, including a 4.3 average CMS Quality Measure Star rating and 94% occupancy.
PACS Group, Inc. filed its Quarterly Report for the three and nine months ended September 30, 2024, restating earlier 2024 quarters after an audit committee investigation into Medicare Part B respiratory and certain other therapy revenue recognition. Management concluded that this revenue should not have been recognized under ASC 606, leading to restated March 31 and June 30, 2024 financials and a new refund liability of $83.987 million.
Q3 2024 revenue rose to $1.03 billion from $789.2 million a year earlier, but net income attributable to PACS decreased to $15.6 million from $19.9 million. For the first nine months, revenue grew to $2.88 billion from $2.26 billion, while net income fell sharply to $18.6 million from $78.7 million as the company absorbed higher costs, compliance-related adjustments and a higher tax provision.
Total assets increased to $4.52 billion, driven by property and right‑of‑use assets, and operating cash flow strengthened to $302.8 million. Lines of credit were reduced to zero from $520.0 million, aided by an initial public offering that raised $414.2 million and a follow‑on common stock offering of $95.3 million. PACS reported material weaknesses in internal control over financial reporting, found its disclosure controls ineffective as of September 30, 2024, and is implementing remediation measures while operating 276 facilities across multiple states.
PACS Group, Inc. filed a late notice for its Quarterly Report on Form 10-Q for the period ended September 30, 2025. The company says it cannot file on time without unreasonable effort or expense because of an ongoing Audit Committee investigation and a restatement of its condensed combined/consolidated financial statements for the quarters ended March 31, 2024 and June 30, 2024. PACS Group expects to file this Q3 2025 10-Q by November 19, 2025, together with its delayed Quarterly Report on Form 10-Q for September 30, 2024, its Annual Report on Form 10-K for December 31, 2024, and its Quarterly Reports on Form 10-Q for the periods ended March 31, 2025 and June 30, 2025. The company also notes risks related to the restatement process, the Audit Committee investigation, and the possibility of a New York Stock Exchange delisting determination.
PACS Group, Inc. reported that its lenders, led by Truist Bank as administrative agent, extended their forbearance under the Credit Agreement through November 30, 2025. The landlords under the Company’s Omega Master Lease also agreed to forbear through the same date, providing temporary relief while discussions continue.
The Company also referenced its November 19, 2025 deadline with the NYSE to regain compliance with Section 802.01E by becoming current in its SEC reporting. The cautionary note highlights risks tied to the restatement process, the ongoing Audit Committee investigation, and the potential for an NYSE delisting determination.
PACS Group, Inc. filed a current report to let investors know it has released select unaudited preliminary operating metrics. The company states that these figures were announced in a press release dated September 11, 2025, which is included as Exhibit 99.1 to the report. The metrics are described as preliminary and unaudited, meaning they are early performance indicators rather than final results. The company also clarifies that this information is being furnished, not filed, so it is not automatically subject to certain Exchange Act liabilities or incorporated into other securities filings unless specifically referenced.
PACS Group, Inc. reports that the NYSE Listing Operations Committee has granted the company an additional trading period through November 19, 2025 to regain compliance with NYSE rule 802.01E on timely filing of annual and quarterly reports, with the situation reassessed on an ongoing basis. The company has not yet filed its Form 10-Q for the quarter ended September 30, 2024, its Form 10-K for the year ended December 31, 2024, or its Forms 10-Q for the quarters ended March 31, 2025 and June 30, 2025, due to an independent Audit Committee investigation. PACS Group previously said that its condensed combined/consolidated financial statements for the quarters ended March 31, 2024 and June 30, 2024 should no longer be relied upon and is working to restate these statements and complete the delayed reports. The NYSE will monitor the company’s progress as it seeks to return to full listing compliance.
PACS Group, Inc. reported that Chief Financial Officer Derick Apt resigned on September 2, 2025 after the board’s Audit Committee, following allegations he accepted a series of high-value items from individuals linked to entities that do business with the company, made interim findings that his receipt of those items violated company policies and its Code of Conduct. In a separation agreement, Apt provided a broad release of claims and reaffirmed non-solicitation, non-disparagement and confidentiality covenants, while the company agreed to accelerate vesting of 82,116 restricted stock units, with his remaining unvested units forfeited, and waived a one-year non-competition covenant. The company has launched a search for a permanent CFO and bolstered its finance and accounting resources. On September 3, 2025, co-founder and current Executive Vice Chairman Mark Hancock, who previously served as CFO from 2013 to 2024, was appointed interim Chief Financial Officer and will act as principal financial officer while continuing as a director.
PACS Group, Inc. disclosed that Peter (P.J.) Sanford, President of Providence Administrative Consulting Services, Inc., resigned as an employee and executive officer of the company effective August 15, 2025. The parties negotiated a separation agreement under which Mr. Sanford will execute a general release of claims and reaffirm his continuing obligations under certain restrictive covenants. The company agreed to subsidize 12 months of Mr. Sanford's COBRA premiums. The company will also enter a consulting agreement to keep Mr. Sanford available to provide services. The filing states the full separation and consulting agreements will be filed as exhibits to the company's next quarterly report.