$Agiliti, Inc.(AGTI)$ Agiliti Inc. (NYSE: AGTI) (“Agiliti”), a nationwide provider of healthcare technology management and service solutions to the United States healthcare industry, today announced its financial results for the quarter ended March 31, 2021, and provided a preliminary outlook for the full year 2021.
Highlights
- Revenue growth of 31 percent to $235 million
- Net income of $9.6 million, up $22.2 million from Q1 2020, and diluted earnings per share of $0.09, up $0.22 per share from the prior year period
- Adjusted EBITDA growth of 77 percent to $86 million, and adjusted diluted earnings per share of $0.30, up $0.25 per share from the prior year period
- Leverage ratio reduced to 3.3x following the close of its initial public offering
- Full year 2021 guidance for revenue of $950-$975 million and Adjusted EBITDA of $275-$285 million
“Our strong first quarter results reflect the continued execution of our growth strategy and the extraordinary work of our entire team at Agiliti,” said Tom Leonard, Chief Executive Officer. “The challenges of the past year helped raise awareness of the unique and essential nature of what we do, while also demonstrating the stable and predictable nature of our business model. Agiliti is a critical part of our national healthcare infrastructure, and as the events of 2020 highlight, the services we provide are always necessary and in high demand. This long term consistency gives us confidence in our 2021 outlook and beyond.”
Total revenue for the three months ended March 31, 2021, was $235.2 million, representing a 31 percent increase from total revenue of $179.2 million for the same period of 2020.
Net income for the first quarter was $9.6 million, representing a $22.2 million increase compared to a net loss of $12.6 million for the same period of 2020.
Adjusted EBITDA for the three months ended March 31, 2021, was $86.2 million, a 77 percent increase from Adjusted EBITDA of $48.7 million for the same period of 2020.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
