XML 14 R4.htm IDEA: XBRL DOCUMENT v3.25.3
UNAUDITED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Net revenue $ 197,132 $ 168,033 $ 578,264 $ 490,898
Operating cost:        
Salaries and related costs 116,619 99,835 341,656 289,900
Rent, supplies, contract labor and other 36,115 29,756 104,086 88,104
Depreciation and amortization 5,495 4,158 16,776 12,326
Provision for credit losses 2,073 1,721 5,916 5,065
(Gain) loss on clinic closures - lease and other (42) 3,432 269 4,109
Total operating cost 160,260 138,902 468,703 399,504
Gross profit 36,872 29,131 109,561 91,394
Corporate office costs 17,414 14,385 51,135 42,719
(Gain) loss on change in fair value of contingent earn-out consideration (5,872) 1,899 (11,484) 5,332
Operating income 25,330 12,847 69,910 43,343
Other income (expense):        
Interest expense, debt and other (2,408) (2,018) (7,109) (5,966)
Interest income from investments 33 1,018 85 3,635
Change in revaluation of put-right liability (663) 168 (1,406) (136)
Equity in earnings of unconsolidated affiliate 361 231 1,155 750
Loss on sale of a partnership 0 0 (123) 0
Other 222 90 344 261
Total other expense (2,455) (511) (7,054) (1,456)
Income before taxes 22,875 12,336 62,856 41,887
Provision for income taxes 5,233 2,559 14,026 8,781
Net income 17,642 9,777 48,830 33,106
Less: Net income attributable to non-controlling interest:        
Redeemable non-controlling interest - temporary equity (3,790) (1,998) (9,716) (7,539)
Non-controlling interest - permanent equity (714) (1,151) (3,684) (3,387)
Net income attributable to non-controlling interest (4,504) (3,149) (13,400) (10,926)
Net income attributable to USPH shareholders $ 13,138 $ 6,628 $ 35,430 $ 22,180
Basic earnings per share attributable to USPH shareholders (in dollars per share) $ 0.48 $ 0.39 $ 1.85 $ 1.32
Diluted earnings per share attributable to USPH shareholders (in dollars per share) $ 0.48 $ 0.39 $ 1.85 $ 1.32
Shares used in computation - basic (in shares) 15,204 15,077 15,178 15,055
Shares used in computation - diluted (in shares) 15,204 15,077 15,178 15,055
Dividends declared per common share (in dollars per share) $ 0.45 $ 0.44 $ 1.35 $ 1.32
Net Patient Revenue [Member]        
Revenues:        
Net revenue $ 164,024 $ 139,146 $ 480,754 $ 410,492
Other Revenue [Member]        
Revenues:        
Net revenue $ 33,108 $ 28,887 $ 97,510 $ 80,406