- Delivered strongest financial performance to date in Q3 ‘24,
resulting from continued positive momentum in NeueCare and
NeueSolutions business segments
- Drove positive Adjusted EBITDA for the third consecutive
quarter in 2024; reaffirming Adjusted EBITDA guidance for the full
year†
- Well-positioned to build on success and capitalize on
strategic growth opportunities in 2025 and beyond
NeueHealth, Inc. (“NeueHealth” or the “Company”) (NYSE: NEUE),
the value-driven healthcare company, today reported financial
results for its third quarter ended September 30, 2024.
“We are pleased to report another quarter of strong financial
performance as we continue to build on the positive momentum we
have generated so far this year,” said Mike Mikan, President and
CEO of NeueHealth. “We have delivered Adjusted EBITDA profitability
for three consecutive quarters, and we believe we are
well-positioned to finish 2024 on a strong note. Looking ahead, we
see significant opportunities to build on our success in 2025 and
beyond as we continue to align the interests of consumers,
providers, and payors to create a better healthcare experience for
all.”
Key Metrics
As of September 30,
2024
2023
Consumer and Patient Metrics
Value-Based Consumers served
390,000
355,000
Enablement Services Lives
119,000
31,000
($ in thousands)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
Financial Metrics
Revenue
$
232,933
$
269,399
$
704,019
$
867,931
Net Income (Loss)
$
(40,365
)
$
(547,148
)
$
(102,240
)
$
(805,236
)
Net Income (Loss) from Continuing
Operations
$
(26,007
)
$
(479,305
)
$
(59,578
)
$
(564,915
)
Adjusted EBITDA (non-GAAP)
$
9,396
$
3,431
$
17,015
$
5,911
See the table at the end of this release for additional
information and a reconciliation of the non-GAAP measures used
above.
Financial Outlook
For 2024, we are reaffirming the following guidance:
- NeueHealth’s Revenue is expected to be approximately $950
million
- On a segment basis, NeueCare Revenue is expected to be
approximately $320 million, while NeueSolutions Revenue is expected
to be approximately $640 million
- Adjusted Operating Cost Ratio is expected to be between 15% and
16%, excluding corporate costs. Including corporate costs, this is
expected to be between 19% and 20%†
- Adjusted EBITDA is expected to be between $15 million and $25
million in 2024†
† Reconciliations of projected Adjusted EBITDA and projected
Adjusted Operating Cost Ratio to the most directly comparable GAAP
financial measures are not provided because the Company is unable
to provide such reconciliations without unreasonable effort. The
inability to provide a reconciliation is due to the uncertainty and
inherent difficulty predicting the occurrence, the financial impact
and the periods in which the non-GAAP adjustments may be
recognized. With respect to Adjusted EBITDA, these GAAP measures
may include the impact of such items as loss from discontinued
operations, interest expense, income tax expense, depreciation and
amortization, transaction costs, share-based and other long-term
incentive compensation expense, gain on troubled debt
restructuring, changes in the fair value of derivatives,
restructuring and contract termination costs, held-for-sale
operations, financial solvency of contractual counterparties, and
impairment of goodwill or long-lived assets, and the tax effect of
all such items. Historically, the Company has often excluded these
items from non-GAAP financial measures. With respect to Adjusted
Operating Cost Ratio, these GAAP measures may include the impact of
such items as share-based compensation and held-for-sale
operations. The Company currently expects to continue to exclude
these items in future disclosures of non-GAAP financial measures
and may also exclude other items that may arise (collectively,
“non-GAAP adjustments”). The decisions and events that typically
lead to the recognition of non-GAAP adjustments, such as a decision
to exit part of the business, are inherently unpredictable as to if
or when they may occur. For the same reasons, the Company is unable
to address the probable significance of the unavailable
information, which could be material to future results.
Earnings Conference Call
As previously announced, NeueHealth will discuss the Company’s
results, strategy, and outlook on a conference call with investors
at 8:00 a.m. Eastern Time today. NeueHealth will host a live
webcast of this conference call which can be accessed from the
Investor Relations page of the company’s website
(investors.neuehealth.com). Following the call, a webcast replay
will be available on the same site. This earnings release and the
Form 8-K filed November 7, 2024 can be accessed on the Investor
Relations page of the Company’s website. We routinely post
important information on our website, including corporate and
investor presentations and financial information. We intend to use
our website as a means of disclosing material, non-public
information and for complying with our disclosure obligations under
Regulation FD. Such disclosures will be included in the Investor
Relations section of our website. Accordingly, investors should
monitor this portion of our website, in addition to following our
press releases, U.S. Securities and Exchange Commission (“SEC”)
filings and public conference calls and webcasts.
About NeueHealth
NeueHealth is a value-driven healthcare company grounded in the
belief that all health consumers are entitled to high-quality,
coordinated care. By uniquely aligning the interests of health
consumers, providers, and payors, NeueHealth helps to make
healthcare accessible and affordable to all populations across the
ACA Marketplace, Medicare, and Medicaid. NeueHealth delivers
high-quality clinical care to over 500,000 health consumers through
owned clinics and unique partnerships with over 3,000 affiliated
providers. We also enable independent providers and medical groups
to thrive in performance-based arrangements through a suite of
technology and services scaled centrally and deployed locally. We
believe our value-driven, consumer-centric care model can transform
the healthcare experience and maximize value across the healthcare
system. For more information, visit: www.neuehealth.com.
Forward-Looking Statements
Statements made in this release that are not statements of
historical fact, including statements about our beliefs and
expectations, are forward-looking statements and should be
evaluated as such. Forward-looking statements include information
concerning possible or assumed future results of operations,
including descriptions of our business plan and strategies. These
statements often include words such as “anticipate,” “expect,”
“plan,” “believe,” “intend,” “project,” “forecast,” “estimates,”
“projections,” “outlook,” “ensure,” and other similar expressions.
These forward-looking statements include any statements regarding
our plans, expectations and financial guidance. Such
forward-looking statements are subject to various risks,
uncertainties and assumptions. Accordingly, there are or will be
important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. Factors
that might materially affect such forward-looking statements
include: our ability to continue as a going concern; our ability to
comply with the terms of our credit facilities or any credit
facility into which we enter in the future; our ability to receive
the remaining proceeds from the sale of our Medicare Advantage
business in California in a timely manner; our ability to obtain
any short or long term debt or equity financing needed to operate
our business; our ability to quickly and efficiently complete the
wind down of our remaining IFP and MA businesses, including by
satisfying liabilities of those businesses when due and payable;
potential disruptions to our business due to corporate
restructuring and any resulting headcount reduction; our ability to
accurately estimate and effectively manage the costs relating to
changes in our business offerings and models; a delay or inability
to withdraw regulated capital from our subsidiaries; a lack of
acceptance or slow adoption of our business model; our ability to
retain existing consumers; our and our Care Partner’s abilities to
obtain and accurately assess, code, and report risk adjustment
factor scores; our ability to contract with care providers and
arrange for the provision of quality care; our ability to
accurately estimate our medical expenses and effectively manage our
costs; our ability to obtain claims information timely and
accurately; the impact of any pandemic or epidemic on our business
and results of operations; the risks associated with our reliance
on third-party providers to operate our business; the impact of
modifications or changes to the U.S. health insurance markets; our
ability to manage any growth of our business; our ability to
operate, update or implement our technology platform and other
information technology systems; our ability to retain key
executives; our ability to successfully pursue acquisitions,
integrate acquired businesses and divest businesses as needed; the
occurrence of severe weather events, catastrophic health events,
natural or man-made disasters, and social and political conditions
or civil unrest; our ability to prevent and contain data security
incidents and the impact of data security incidents on our members,
patients, employees and financial results; our ability to comply
with requirements to maintain effective internal controls; our
ability to adapt to mitigate risks associated with our ACO Reach
businesses, including any unanticipated market or regulatory
developments; and the other factors set forth under the heading
“Risk Factors” in the Company’s reports on Form 10-K, Form 10-Q,
and Form 8-K (including all amendments to those reports) and our
other filings with the SEC. Except as required by law, we undertake
no obligation to update publicly any forward-looking statements for
any reason after the date of this release to conform these
statements to actual results or changes in our expectations.
NeueHealth, Inc. and
Subsidiaries
Consolidated Balance
Sheets
(in thousands, except share and
per share data)
(Unaudited)
September 30,
2024
December 31,
2023
Assets
Current assets:
Cash and cash equivalents
$
109,839
$
87,299
Short-term investments
8,842
6,265
Accounts receivable, net of allowance of
$26 and $14,023, respectively
43,078
39,084
ACO REACH performance year receivable
261,215
115,878
Current assets of discontinued
operations
127,638
822,570
Current assets of held-for-sale
operations
6,108
—
Prepaids and other current assets
32,712
17,831
Total current assets
589,432
1,088,927
Other assets:
Property, equipment and capitalized
software, net
11,677
14,499
Intangible assets, net
73,552
93,238
Other non-current assets
22,122
28,816
Total other assets
107,351
136,553
Total assets
$
696,783
$
1,225,480
Liabilities, Redeemable Noncontrolling
Interest, Redeemable Preferred Stock and Shareholders’ Equity
(Deficit)
Current liabilities:
Medical costs payable
$
123,665
$
157,903
Accounts payable
5,898
11,841
Short-term borrowings
—
303,947
ACO REACH performance year obligation
161,855
—
Current liabilities of discontinued
operations
339,576
699,758
Current liabilities of held-for-sale
operations
4,976
—
Risk share payable to deconsolidated
entity
123,981
123,981
Warrant liability
22,252
13,971
Other current liabilities
90,235
79,856
Total current liabilities
872,438
1,391,257
Long-term borrowings
120,252
66,400
Other liabilities
16,616
22,441
Total liabilities
1,009,306
1,480,098
Commitments and contingencies
Redeemable noncontrolling interests
117,876
88,908
Redeemable Series A preferred stock,
0.0001 par value; 750,000 shares authorized in 2024 and 2023;
750,000 shares issued and outstanding in 2024 and 2023
747,481
747,481
Redeemable Series B preferred stock,0.0001
par value; 175,000 shares authorized in 2024 and 2023; 175,000
shares issued and outstanding in 2024 and 2023
172,936
172,936
Shareholders’ equity (deficit):
Common stock, 0.0001 par value;
3,000,000,000 shares authorized in 2024 and 2023; 8,284,485 and
8,053,576 shares issued and outstanding in 2024 and 2023,
respectively
1
1
Additional paid-in capital
3,100,990
3,056,027
Accumulated deficit
(4,439,807
)
(4,307,849
)
Accumulated other comprehensive loss
—
(122
)
Treasury Stock, at cost, 31,526 shares at
September 30, 2024, and December 31, 2023, respectively
(12,000
)
(12,000
)
Total shareholders’ equity
(deficit)
(1,350,816
)
(1,263,943
)
Total liabilities, redeemable
noncontrolling interests, redeemable preferred stock and
shareholders’ equity (deficit)
$
696,783
$
1,225,480
NeueHealth, Inc. and
Subsidiaries
Consolidated Statements of
Income (Loss)
(in thousands, except share and
per share data)
(Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
Revenue:
Capitated revenue
$
71,334
$
60,371
$
196,805
$
159,683
ACO REACH revenue
149,477
200,044
471,090
676,845
Service revenue
11,666
8,978
35,357
31,387
Investment income
456
6
767
16
Total revenue
232,933
269,399
704,019
867,931
Operating expenses:
Medical costs
182,693
226,438
557,248
731,718
Operating costs
64,075
72,532
201,114
221,697
Bad debt expense
3
22,421
14
23,054
Restructuring charges
—
5,281
181
6,867
Goodwill impairment
—
401,385
—
401,385
Intangible assets impairment
—
—
11,411
—
Depreciation and amortization
3,504
4,117
12,044
14,271
Total operating expenses
250,275
732,174
782,012
1,398,992
Operating loss
(17,342
)
(462,775
)
(77,993
)
(531,061
)
Interest expense
5,413
10,041
12,453
26,998
Warrant expense (income)
459
9,874
(3,826
)
9,874
Gain on troubled debt restructuring
—
—
(30,311
)
—
Loss from continuing operations before
income taxes
(23,214
)
(482,690
)
(56,309
)
(567,933
)
Income tax expense (benefit)
2,793
(3,385
)
3,269
(3,018
)
Net loss from continuing
operations
(26,007
)
(479,305
)
(59,578
)
(564,915
)
Loss from discontinued operations, net of
tax (including loss on disposal of $991)
(14,358
)
(67,843
)
(42,662
)
(240,321
)
Net Loss
(40,365
)
(547,148
)
(102,240
)
(805,236
)
Net income from continuing operations
attributable to noncontrolling interests
(17,049
)
(86,747
)
(29,718
)
(116,502
)
Series A preferred stock dividend
accrued
(10,667
)
(10,178
)
(31,383
)
(29,834
)
Series B preferred stock dividend
accrued
(2,394
)
(2,284
)
(7,042
)
(6,695
)
Net loss attributable to NeueHealth,
Inc. common shareholders
$
(70,475
)
$
(646,357
)
$
(170,383
)
$
(958,267
)
Basic and diluted loss per share
attributable to NeueHealth, Inc. common shareholders
Continuing operations
$
(6.78
)
$
(72.52
)
$
(15.57
)
$
(90.36
)
Discontinued operations
(1.73
)
(8.51
)
(5.20
)
(30.25
)
Basic and diluted loss per share
(8.51
)
(81.03
)
(20.77
)
(120.61
)
Basic and diluted weighted-average common
shares outstanding
8,282
7,977
8,205
7,945
NeueHealth, Inc. and
Subsidiaries
Consolidated Statements of
Cash Flows
(in thousands)
(Unaudited)
Nine Months Ended September
30,
2024
2023
Cash flows from operating activities:
Net loss
$
(102,240
)
$
(805,236
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization
12,044
20,149
Impairment of intangible assets
11,411
—
Goodwill impairment
—
401,385
Share-based compensation
56,250
65,611
Payment-in-kind “PIK” interest
12,709
—
Deferred income taxes
—
(3,063
)
Gain on troubled debt restructuring
(30,311
)
—
Net accretion of investments
(204
)
(17,946
)
Loss on disposal of property, equipment,
and capitalized software
595
—
Other, net
(317
)
3,812
Changes in assets and liabilities, net of
acquired assets and liabilities:
Accounts receivable
(10,391
)
(27,438
)
ACO REACH performance year receivable
(145,337
)
(251,297
)
Other assets
(4,556
)
132,645
Medical cost payable
(49,338
)
(610,027
)
Risk adjustment payable
(16,228
)
(1,541,536
)
Accounts payable and other liabilities
(4,185
)
(124,295
)
Unearned revenue
(18
)
127,135
Warrant liability
9,438
9,874
ACO Reach performance year obligation
161,855
224,908
Net cash used in operating
activities
(98,823
)
(2,395,319
)
Cash flows from investing activities:
Purchases of investments
(12,765
)
(830,176
)
Proceeds from sales, paydowns, and
maturities of investments
6,416
1,978,925
Purchases of property and equipment
(1,542
)
(2,626
)
Proceeds from sale of business, net
197,121
(682
)
Net cash provided by investing
activities
189,230
1,145,441
Cash flows from financing activities:
Proceeds from issuance of common stock
—
2
Proceeds from long-term borrowings
42,133
—
Proceeds from short-term borrowings
—
50,000
Repayments of short-term borrowings
(273,636
)
Distributions to noncontrolling interest
holders
(7,771
)
(8,997
)
Net cash (used in) provided by
financing activities
(239,274
)
41,005
Net decrease in cash and cash
equivalents
(148,867
)
(1,208,873
)
Cash and cash equivalents of total
operations – beginning of year
375,280
1,932,290
Cash and cash equivalents of total
operations – end of period
$
226,413
$
723,417
NeueHealth, Inc. and
Subsidiaries
Segment Information
(in thousands)
(Unaudited)
NeueCare
($ in thousands)
Three Months Ended
September 30,
Nine Months Ended
September 30,
Statement of income (loss) and
operating data:
2024
2023
2024
2023
Revenue:
Capitated revenue
$
71,334
$
60,371
$
196,805
$
159,683
Service revenue
9,100
8,245
28,433
29,711
Investment income
465
—
486
—
Total unaffiliated revenue
80,899
68,616
225,724
189,394
Affiliated revenue
2,968
(1,482
)
8,751
6,487
Total segment revenue
83,867
67,134
234,475
195,881
Operating expenses
Medical costs
31,820
20,883
92,835
64,325
Operating costs
32,871
32,467
100,136
93,795
Intangible asset impairment
—
—
11,411
—
Goodwill impairment
—
401,385
—
401,385
Depreciation and amortization
2,746
3,160
9,753
9,470
Total operating expenses
67,437
457,895
214,135
568,975
Operating income (loss)
$
16,430
$
(390,761
)
$
20,340
$
(373,094
)
NeueSolutions
($ in thousands)
Three Months Ended
September 30,
Nine Months Ended
September 30,
Statement of income (loss) and
operating data:
2024
2023
2024
2023
Revenue:
ACO REACH revenue
$
149,477
$
200,044
$
471,090
$
676,845
Service revenue
2,566
733
6,924
1,676
Total segment revenue
152,043
200,777
478,014
678,521
Operating expenses
Medical costs
153,840
204,017
473,163
673,891
Operating costs
4,030
3,702
13,202
10,083
Bad debt expense
5
22,413
16
22,415
Total operating expenses
157,875
230,132
486,381
706,389
Operating loss
$
(5,832
)
$
(29,355
)
$
(8,367
)
$
(27,868
)
Non-GAAP Financial Measures
We use the non-GAAP financial measures Adjusted EBITDA, Adjusted
Operating Cost Ratio. We define Adjusted EBITDA as Net Loss
excluding loss from discontinued operations, interest expense,
income taxes, depreciation and amortization, transaction costs,
share-based and other long-term compensation expense, gains on
troubled debt restructuring, changes in the fair value of
derivatives, restructuring and contract termination costs,
held-for-sale operations, losses related to the bankruptcy of
contractual counterparties, impairment of goodwill and long-lived
assets, and the tax effect of all such items. We define Adjusted
Operating Cost Ratio as Operating Cost Ratio excluding share-based
compensation and other expense and held-for-sale operations. These
non-GAAP measures have been presented in this quarterly Earnings
Release or in the earnings conference call as supplemental measures
of financial performance that are not required by or presented in
accordance with GAAP because we believe they assist management and
investors in comparing our operating performance across reporting
periods on a consistent basis by excluding and including items that
we do not believe are indicative of our core operating performance.
Management believes these measures are useful to investors in
highlighting trends in our operating performance, while other
measures can differ significantly depending on long-term strategic
decisions regarding capital structure, the tax jurisdictions in
which we operate and capital investments. Management uses Adjusted
EBITDA and Adjusted Operating Cost Ratio to supplement GAAP
measures of performance in the evaluation of the effectiveness of
our business strategies, to make budgeting decisions, to establish
discretionary annual incentive compensation and to compare our
performance against that of other peer companies using similar
measures. Management supplements GAAP results with non-GAAP
financial measures to provide a more complete understanding of the
factors and trends affecting the business than GAAP results
alone.
Adjusted EBITDA is not a recognized term under GAAP and should
not be considered as an alternative to Net income (loss) as a
measure of financial performance or any other performance measure
derived in accordance with GAAP. Additionally, Adjusted EBITDA is
not intended to be a measure of free cash flow available for
management’s discretionary use as it does not consider certain cash
requirements such as interest payments, tax payments and debt
service requirements. The presentation of Adjusted EBITDA has
limitations as an analytical tool and should not be considered in
isolation or as a substitute for analysis of our results as
reported under GAAP. Because not all companies use identical
calculations, the presentation of these measures may not be
comparable to other similarly titled measures of other companies
and can differ significantly from company to company.
Adjusted Operating Cost Ratio is not a recognized term under
GAAP and should not be considered as an alternative to Operating
Cost Ratio as a measure of financial performance or any other
performance measure derived in accordance with GAAP. The
presentation of Adjusted Operating Cost Ratio has limitations as an
analytical tool and should not be considered in isolation or as a
substitute for analysis of our results as reported under GAAP.
Because not all companies use identical calculations, the
presentation of these measures may not be comparable to other
similarly titled measures of other companies and can differ
significantly from company to company.
The following table provides a reconciliation of net loss to
Adjusted EBITDA for the periods presented:
Three Months Ended
September 30,
Nine Months Ended
September 30,
($ in thousands)
2024
2023
2024
2023
Net loss
$
(40,365
)
$
(547,148
)
$
(102,240
)
$
(805,236
)
Loss from Discontinued Operations
14,358
67,843
42,662
240,321
EBITDA adjustments from continuing
operations
Interest expense
5,413
10,041
12,453
26,998
Income tax (benefit) expense
2,793
(3,385
)
3,269
(3,018
)
Depreciation and amortization (h)
3,504
3,621
11,055
12,783
Transaction costs (a)
1,213
8,941
3,178
18,889
Share-based and other long-term incentive
compensation expense (b)
16,387
16,515
56,250
65,611
Gain on troubled debt restructuring
(c)
—
—
(30,311
)
—
Change in fair value of warrant liability
(d)
459
9,874
(3,826
)
9,874
Restructuring and contract termination
costs (e)
—
5,281
181
6,867
Held-for-sale operations (f)
2,444
2,722
20,738
3,696
ACO REACH care partner bankruptcy (g)
3,190
27,741
3,475
27,741
Impairment of goodwill and long-lived
assets (h)
—
401,385
131
401,385
EBITDA adjustments from continuing
operations
$
35,403
$
482,736
$
76,593
$
570,826
Adjusted EBITDA
$
9,396
$
3,431
$
17,015
$
5,911
(a)
Transaction costs include accounting, tax,
valuation, consulting, legal and investment banking fees directly
relating to financing initiatives and acquisitions or dispositions.
These costs can vary from period to period and impact
comparability, and we do not believe such transaction costs reflect
the ongoing performance of our business.
(b)
Represents non-cash compensation expense
related to stock option and restricted stock unit award grants,
which can vary from period to period based on a number of factors,
including the timing, quantity and grant date fair value of the
awards. Also includes estimated compensation expense that the
Company has the option to pay in cash or shares of $3.0 million and
$5.4 million for the three and nine months ended September 30,
2024, respectively, which is a 2024-only deviation from the
long-term incentive award plan.
(c)
Beginning in the first quarter of 2024,
Adjusted EBITDA excludes the impact of gains on troubled debt
restructuring. The comparable periods in 2023 have been recast to
exclude these impacts.
(d)
Represents the non-cash change in the fair
value of the warrant liability established for warrants included in
our financing arrangements, which are remeasured at fair value each
reporting period.
(e)
Restructuring and contract termination
costs represent severance costs as part of a workforce reduction,
amounts paid for early termination of leases, and impairment of
certain long-lived assets primarily relating to our decision to
exit the Commercial business for the 2023 plan year.
(f)
Beginning in the second quarter of 2024,
Adjusted EBITDA excludes the impact of our operations classified as
held-for-sale. For the three and nine months ended September 30,
2024, no intangible asset impairment expense and $11.4 million of
intangible asset impairment expense was incurred, respectively, as
a result of classifying operations as held-for-sale.
(g)
Represents the costs expected to be
incurred as a result of one of our ACO REACH care partners filing
for bankruptcy; includes the full allowance established for the
outstanding receivable and ongoing costs incurred to manage and
provide service to members attributed to the care partner that
would have otherwise been reimbursed prior to the care partner’s
bankruptcy.
(h)
Adjustment has been updated to remove the
impact of our held-for-sale operations that are adjusted for in
their entirety as described in (f).
The following table provides a reconciliation of Adjusted
Operating Cost Ratio for the periods presented:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
Operating Cost Ratio
27.5%
26.9%
28.6%
25.5%
Impact of share-based and other long-term
incentive compensation expense (a)
(7.0)%
(6.1)%
(8.0)%
(7.6)%
Impact of held-for-sale operations (b)
(2.3)%
(2.2)%
(2.8)%
(2.0)%
Adjusted Operating Cost Ratio
18.2%
18.6%
17.8%
15.9%
(a)
Represents non-cash compensation expense
related to stock option and restricted stock unit award grants,
which can vary from period to period based on a number of factors,
including the timing, quantity and grant date fair value of the
awards. Also includes estimated compensation expense that the
company has the option to pay in cash or shares of $3.0 million and
$5.4 million and for the three and nine months ended September 30,
2024, respectively, which is a 2024-only deviation from the
long-term incentive award plan.
(b)
Represents the impact of revenue and
operating costs related to our operations classified as
held-for-sale during the quarter ended September 30, 2024. The
comparable periods in 2023 have been recast to exclude these
impacts.
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version on businesswire.com: https://www.businesswire.com/news/home/20241107471416/en/
Investor Contact: IR@neuehealth.com
Media Contact: media@neuehealth.com
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