v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 247,981 $ 197,016
Accounts receivable, net 648,037 628,128
Other receivables 85,183 73,965
Prepaid expenses and other current assets 86,904 170,630
Total Current Assets 1,068,105 1,069,739
Property and equipment, net 1,308,168 1,201,096
Operating lease right-of-use assets 2,907,903 2,968,176
Insurance subsidiary deposits and investments 107,323 87,192
Escrow funds 18,260 18,404
Goodwill and other indefinite-lived assets 68,061 68,061
Other assets 185,698 171,366
Total Assets 5,663,518 5,584,034
Current Liabilities:    
Accounts payable 180,662 192,232
Accrued payroll and benefits 242,698 187,516
Current operating lease liabilities 154,302 153,066
Current maturities of long-term debt 8,385 4,463
Current portion of accrued self-insurance liabilities 137,934 128,994
Refund liability 181,129 181,129
Other accrued expenses 168,413 154,030
Total Current Liabilities 1,073,523 1,001,430
Long-term operating lease liabilities 2,888,283 2,939,854
Line of credit 45,000 100,000
Long-term debt, less current maturities, net of deferred financing fees 239,814 244,803
Accrued self-insurance liabilities, less current portion 208,948 192,561
Other liabilities 165,760 152,937
Total Liabilities 4,621,328 4,631,585
Commitments and contingencies (Note 15)
Equity:    
Common stock: $0.001 par value; 1,250,000,000 shares authorized; 157,165,029 shares issued and outstanding as of March 31, 2026, and 156,615,144 shares issued and outstanding as of December 31, 2025 157 157
Additional paid-in capital 646,738 637,035
Retained earnings 390,274 309,579
Total PACS Group, Inc. stockholders' equity 1,037,169 946,771
Noncontrolling interest in subsidiary 5,021 5,678
Total Equity 1,042,190 952,449
Total Liabilities and Equity $ 5,663,518 $ 5,584,034