The following is a summary of the Option Care Health, Inc. (OPCH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Option Care Health reported Q1 revenue growth of over 12% and a gross profit of $238.5 million, a 4.1% increase over the prior year.

• SG&A expenses grew by 4.7% as the company managed to reduce spending.

• Adjusted EBITDA stood at $98.3 million, representing 8.6% of net revenue.

• The company aims to generate net revenue of $4.65 billion to $4.8 billion and adjusted EBITDA between $430 million and $450 million for the full year.

• Costs related to therapy slightly escalated due to supply chain difficulties, but it didn't significantly impact revenue.

• The company repurchased $40 million worth of shares, suspending the program for the time being to focus on liquidity preservation.

Business Progress:

• The company maintained a high patient satisfaction and Net Promoter Score despite a cybersecurity incident with Change Healthcare.

• This incident made the company prioritize cybersecurity and take steps to strengthen their platform.

• The company is expanding with three additional facilities and focusing on improving clinical programs to better patient outcomes and reduce costs.

• Supply chain disruptions are anticipated to lessen throughout the year, bringing business operations back to normal.

• The company is exploring M&A opportunities and potential capital deployment through share repurchases.

• It also plans to improve operational efficiency by automating processes and enhancing both front-end and back-end business operations.

• The company is in discussions for potential future additions to its therapy offerings, including Oncology.

• Despite disruptions in cash flow owing to the incident with Change Healthcare, the company is actively recovering its financial growth.

• Opening of new ambulatory infusion suites is on the anvil as part of their strategy.

More details: Option Care Health IR

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