Nobilis reported revenue growth in the first quarter of 2017.
Here are five things to know:
1. Nobilis had a 33.2 percent year-over-year revenue increase, hitting $68.3 million for the first quarter of 2017.
2. Net loss hit $2.4 million, a decrease from the $5 million reported in the same quarter last year.
3. Total case volume jumped 11.5 percent to 4,431 cases in the first quarter. Revenue per case was up 19.5 percent to $15,415. The company grew its hospital and ancillary divisions, driving the case and revenue growth.
4. Adjusted EBITDA for the first quarter was $2 million, up 473.5 percent over the same period last year. Cash was reported as $31.2 million and accounts receivable was $102.7 million.
5. As of March 31, the company's total debt was $74.8 million.
6. Full year guidance shows revenue hitting $310 million to $325 million for 2017; adjusted EBITDA is expected at $40 million to $45 million.
"In the first quarter, we were better able to leverage facility operating expenses and we managed to decrease total corporate costs on an absolute dollar basis, year over year," said Harry Fleming, CEO of Nobilis Health. "Specifically, total revenue grew by 33 percent while total expenses increased by only 17 percent. These cost reductions will continue to allow us to operate more efficiently as we continue to grow our organic revenue and ancillary services. We continue to identify other cost saving opportunities which we plan to implement going forward."