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ATI Physical Therapy, Inc.

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19
   10-K10-K10-K10-K
Net revenue  635.7627.9592.3785.5
            Net revenue growth  1.2%6.0%-24.6% 
Cost of services:      
Salaries and related costs  358.0336.5306.5414.5
Rent, clinic supplies, contract labor and other  202.6180.9166.1170.5
Provision for doubtful accounts  13.916.416.222.2
    Total cost of services  1,533.41,944.4488.8607.2
Selling, general and administrative expenses  114.7111.8104.3119.2
Goodwill, intangible and other asset impairment charges  486.3962.3  
    Operating loss  -539.7-980.0-0.959.0
            Operating margin  -84.9%-156.1%-0.2%7.5%
Change in fair value of warrant liability  -4.2-22.6  
Change in fair value of contingent common shares liability  -42.5-175.1  
Interest expense, net  45.346.369.377.0
Other expense, net  3.30.2-91.00.8
    Loss before taxes  -541.6-853.01.8-34.3
Income tax expense (benefit)  -48.5-71.02.1-44.0
    Net loss  -541.6-853.01.8-34.3
Net income (loss) attributable to non-controlling interests  -0.7-3.75.14.4
    Net loss attributable to ATI Physical Therapy, Inc.  -492.4-778.3-5.45.3
Loss available to common stockholders, basic  -540.9-849.3-3.3-38.7
   
Loss per share of Class A common stock:      
Basic (in dollars per share)  ($2.51)($4.69)($0.04)$0.04
Diluted (in dollars per share)  ($2.51)($4.69)($0.04)$0.04
   
Weighted average shares outstanding:      
Basic (in shares)  203.2165.8128.3128.3
Diluted (in shares)  203.2165.8128.3128.3

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