| Schedule of Segment Reporting Information |
The following tables set forth information about the Company’s reportable segments, along with the items necessary to reconcile the segment information to the totals reported in the Company’s consolidated statements of operations as follows (in thousands):
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For the Year Ended December 31, 2024 |
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Pharmacy Solutions |
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Provider Services |
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Total Segments |
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Product revenue |
$ |
8,754,282 |
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|
$ |
— |
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|
$ |
8,754,282 |
|
Service revenue |
|
— |
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|
|
1,317,932 |
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|
|
1,317,932 |
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Cost of drugs |
|
7,368,426 |
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|
|
— |
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|
7,368,426 |
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Cost of services |
|
— |
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|
|
797,286 |
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|
797,286 |
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Other direct costs (1) |
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640,075 |
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— |
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|
640,075 |
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Segment selling, general, and administrative expenses (2) |
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462,219 |
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|
340,034 |
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|
802,253 |
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Segment depreciation and amortization expense (3) |
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111,103 |
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|
24,675 |
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|
135,778 |
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Segment EBITDA |
$ |
394,665 |
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$ |
205,287 |
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$ |
599,952 |
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For the Year Ended December 31, 2023 |
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Pharmacy Solutions |
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Provider Services |
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Total Segments |
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Product revenue |
$ |
6,522,450 |
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|
$ |
— |
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$ |
6,522,450 |
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Service revenue |
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— |
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|
1,168,566 |
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|
1,168,566 |
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Cost of drugs |
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5,291,630 |
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|
— |
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|
5,291,630 |
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Cost of services |
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— |
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|
711,304 |
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|
711,304 |
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Other direct costs (1) |
|
549,086 |
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— |
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|
549,086 |
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Segment selling, general, and administrative expenses (2) |
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426,521 |
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|
310,747 |
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|
737,268 |
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Segment depreciation and amortization expense (3) |
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115,749 |
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|
22,897 |
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|
138,646 |
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Segment EBITDA |
$ |
370,962 |
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$ |
169,412 |
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$ |
540,374 |
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For the Year Ended December 31, 2022 |
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Pharmacy Solutions |
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Provider Services |
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Other |
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Total Segments |
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Product revenue |
$ |
5,264,423 |
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|
$ |
— |
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|
$ |
— |
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$ |
5,264,423 |
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Service revenue |
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— |
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1,098,383 |
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|
274,650 |
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|
1,373,033 |
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Cost of drugs |
|
4,142,064 |
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— |
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— |
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|
4,142,064 |
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Cost of services |
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— |
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|
678,181 |
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|
238,959 |
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|
917,140 |
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Other direct costs (1) |
|
493,340 |
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— |
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— |
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|
493,340 |
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Segment selling, general, and administrative
expenses (2) |
|
398,080 |
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|
288,762 |
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|
16,841 |
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|
703,683 |
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Segment depreciation and amortization expense (3) |
|
113,532 |
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|
22,478 |
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|
2,144 |
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|
138,154 |
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Segment EBITDA |
$ |
344,472 |
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|
$ |
153,918 |
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$ |
19,745 |
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$ |
518,135 |
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(1)Other direct costs primarily includes direct labor costs, delivery costs, insurance, and depreciation and amortization expense that relates to revenue-generating assets. (2)Segment selling, general, and administrative expense includes indirect labor costs, depreciation and amortization, insurance, rent, lease, supplies, professional services, maintenance, repairs, utilities, and communications expense. (3)Total segment depreciation and amortization expense is presented in other direct costs, costs of services, and segment general and administrative expenses, based on the associated asset.
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For the Years Ended December 31, |
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2024 |
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2023 |
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2022 |
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Reconciliation of loss: |
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Total Segment EBITDA |
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$ |
599,952 |
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$ |
540,374 |
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$ |
518,135 |
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Segment depreciation and amortization |
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|
135,778 |
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|
138,646 |
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|
138,154 |
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Expenses not allocated at segment level: |
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Selling, general, and administrative expenses |
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|
329,854 |
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|
321,692 |
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|
198,084 |
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Depreciation and amortization |
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|
26,366 |
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|
21,911 |
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|
22,179 |
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Goodwill impairment loss |
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— |
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— |
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|
40,856 |
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Loss on extinguishment of debt |
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|
12,726 |
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— |
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— |
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Interest expense, net |
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|
190,546 |
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|
271,899 |
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|
199,813 |
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Income tax benefit |
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(26,387 |
) |
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(31,508 |
) |
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(390 |
) |
Net loss |
|
$ |
(68,931 |
) |
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$ |
(182,266 |
) |
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$ |
(80,561 |
) |
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