Halcyon Home Health At risk No new money
Home health agency · Senior loan · $13.5M deployed · Last report Oct 12
Performance
Last 12 months’ revenue, monthly.
$31.0M
−5.2% vs budget
(Revenue − cost of goods) ÷ revenue, last 12 months. New, added by Your Cohort
34.0%
−1.8 pts vs budget
Last 12 months’ EBITDA after approved adjustments, monthly.
$3.1M
−14.0% vs budget
Adj. EBITDA ÷ revenue.
10.0%
Budget 11.0%
Results vs budget and last year
As of Sep 30 · monthly
| Last 12 months | Actual | Budget | vs budget | Last year |
|---|---|---|---|---|
| Revenue | $31.0M | $32.7M | −5.2% | $30.4M |
| Gross margin | 34.0% | 35.8% | −1.8 pts | 33.1% |
| Operating costs | $7.4M | $7.2M | +3.4% | $7.0M |
| Adj. EBITDA | $3.1M | $3.6M | −14.0% | $3.0M |
From reported to adjusted EBITDA
What was added back, and why
Last 12 months · $M
- Reported EBITDA$2.0M
- + Restructuring costs$0.5M
- + One-time legal fees$0.3M
- + Owner pay normalized to market$0.2M
- + Non-cash stock pay$0.1M
- Adjusted EBITDA$3.1M
Reported and adjustedAdded back
| Step | Amount | Running total |
|---|---|---|
| Reported EBITDA | $2.0M | $2.0M |
| Restructuring costs | +$0.5M | $2.5M |
| One-time legal fees | +$0.3M | $2.8M |
| Owner pay normalized to market | +$0.2M | $3.0M |
| Non-cash stock pay | +$0.1M | $3.1M |
| Adjusted EBITDA | $3.1M | $3.1M |
Adjustments are 26% of the total. The legal fees and restructuring costs stop after this year.
Stabilization plan
Progress on the plan agreed with Thorne
Cost savings achieved$0.6M of $1.5M
- Replace agency nurses with staff hires40% done
- Appeal the 5 oldest denied claimsIn progress
- Close the two weakest branchesNot started
- Weekly cash call every TuesdayOn track
New marks a measure Your Cohort adds to Thorne’s reporting · fictional companies and figures · thresholds are placeholders · select or hover any dotted label for its definition