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UNAUDITED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Net revenue $ 197,344 $ 167,190 $ 381,132 $ 322,865
Operating cost:        
Salaries and related costs 113,788 96,334 225,037 190,065
Rent, supplies, contract labor and other 34,127 30,335 67,971 58,319
Depreciation and amortization 5,741 4,299 11,281 8,197
Provision for credit losses 1,995 1,717 3,843 3,344
Clinic closure costs - lease and other 69 643 311 677
Total operating cost 155,720 133,328 308,443 260,602
Gross profit 41,624 33,862 72,689 62,263
Corporate office costs 17,476 14,249 33,721 28,334
(Gain) loss on change in fair value of contingent earn-out consideration (790) 4,046 (5,612) 3,434
Operating income 24,938 15,567 44,580 30,495
Other income (expense):        
Interest expense, debt and other (2,422) (1,980) (4,701) (3,948)
Interest income from investments 28 1,074 52 2,617
Change in revaluation of put-right liability (339) (223) (743) (303)
Equity in earnings of unconsolidated affiliate 401 248 794 519
Loss on sale of a partnership 0 0 (123) 0
Other 47 109 122 171
Total other expense (2,285) (772) (4,599) (944)
Income before taxes 22,653 14,795 39,981 29,551
Provision for income taxes 4,933 3,083 8,793 6,222
Net income 17,720 11,712 31,188 23,329
Less: Net income attributable to non-controlling interest:        
Redeemable non-controlling interest - temporary equity (3,914) (3,314) (5,926) (5,541)
Non-controlling interest - permanent equity (1,413) (892) (2,970) (2,236)
Net income attributable to non-controlling interest (5,327) (4,206) (8,896) (7,777)
Net income attributable to USPH shareholders $ 12,393 $ 7,506 $ 22,292 $ 15,552
Basic earnings per share attributable to USPH shareholders (in dollars per share) $ 0.58 $ 0.47 $ 1.38 $ 0.93
Diluted earnings per share attributable to USPH shareholders (in dollars per share) $ 0.58 $ 0.47 $ 1.38 $ 0.93
Shares used in computation - basic (in shares) 15,197 15,072 15,165 15,044
Shares used in computation - diluted (in shares) 15,197 15,072 15,165 15,044
Dividends declared per common share (in dollars per share) $ 0.45 $ 0.44 $ 0.9 $ 0.88
Net Patient Revenue [Member]        
Revenues:        
Net revenue $ 164,183 $ 140,271 $ 316,730 $ 271,346
Other Revenue [Member]        
Revenues:        
Net revenue $ 33,161 $ 26,919 $ 64,402 $ 51,519