v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Net revenue $ 214,059 $ 197,344 $ 412,344 $ 381,132
Operating cost        
Salaries and related costs 125,404 113,788 244,892 225,037
Rent, supplies, contract labor and other 38,965 34,127 77,417 67,971
Depreciation and amortization 5,621 5,741 11,278 11,281
Provision for credit losses 2,120 1,995 4,124 3,843
Clinic closure costs - lease and other 6 69 (62) 311
Total operating cost 172,116 155,720 337,649 308,443
Gross profit 41,943 41,624 74,695 72,689
Corporate office costs 19,005 17,476 37,279 33,721
Loss (gain) on change in fair value of contingent earn-out consideration 992 (790) 2,989 (5,612)
Operating income 21,946 24,938 34,427 44,580
Other (expense) income        
Interest expense, debt and other (3,213) (2,422) (6,004) (4,701)
Interest income from investments 29 28 45 52
Change in revaluation of put-right liability (168) (339) 195 (743)
Equity in earnings of unconsolidated affiliate 408 401 772 794
Loss on extinguishment of debt (124) 0 (124) 0
Loss on sale of a partnership 0 0 0 (123)
Other 175 47 305 122
Total other expense (2,893) (2,285) (4,811) (4,599)
Income before taxes 19,053 22,653 29,616 39,981
Provision for income taxes 4,155 4,933 6,562 8,793
Net income 14,898 17,720 23,054 31,188
Less: Net income attributable to non-controlling interest:        
Redeemable non-controlling interest - temporary equity (4,080) (3,914) (6,594) (5,926)
Non-controlling interest - permanent equity (920) (1,413) (1,524) (2,970)
Net income attributable to non-controlling interest (5,000) (5,327) (8,118) (8,896)
Net income attributable to USPH shareholders $ 9,898 $ 12,393 $ 14,936 $ 22,292
Basic earnings per share attributable to USPH shareholders (in dollars per share) $ 0.25 $ 0.58 $ 0.13 $ 1.38
Diluted earnings per share attributable to USPH shareholders (in dollars per share) $ 0.25 $ 0.58 $ 0.13 $ 1.38
Shares used in computation - basic (in shares) 15,070 15,197 15,118 15,165
Shares used in computation - diluted (in shares) 15,070 15,197 15,118 15,165
Dividends declared per common share (in dollars per share) $ 0.46 $ 0.45 $ 0.92 $ 0.9
Net Patient Revenue [Member]        
Revenues:        
Net revenue $ 173,224 $ 164,183 $ 337,552 $ 316,730
Hospital Affiliation Revenue [Member]        
Revenues:        
Net revenue 5,564 0 5,564 0
Other Revenue [Member]        
Revenues:        
Net revenue $ 35,271 $ 33,161 $ 69,228 $ 64,402