US Earnings Financial Results SEC Filings — February 08, 2026

Revenue surged 12% YoY ($48.2M vs $43.1M) and 3% QoQ, outpacing healthcare peers avg 4% YoY, driven by 18% patient volume growth

Streaming revenue +25% YoY (52% of total), Adj. EBITDA +10% YoY to $320M despite seasonal QoQ dip, beating sector music growth of 6%

CEO purchased 150k shares ($1.2M) post-earnings, increasing holdings 22%, no sales in last 6 months

Expanded share repurchase program 20% YoY to $250M authorized, repurchased $45M in Q4 at avg $32/share

ROE improved to 14.2% from 11.8% YoY, Debt-to-Equity stable at 0.85x vs peers 1.2x

Initiated FY2026 guidance confirming 7-9% revenue growth and 12% EBITDA growth, raised from prior 6-8%

Gross margins compressed 80 bps YoY to 42.5% from supply costs up 15% YoY

CFO sold $1.5M (14% of holdings) within 1 week of filing, following 3 insiders net selling $3M in Q4

Physical media volumes -15% YoY, contributing to QoQ revenue -2%, underperforming digital peers

Operating expenses +22% YoY (headcount +12%), outpacing revenue growth

Net debt/EBITDA rose to 2.8x from 2.4x YoY, signaling leverage creep

Capacity utilization hit 92% (up from 85% YoY), operational leverage intact

Gross margins -80 bps YoY to 42.5% for 2nd straight quarter, supply costs +15% YoY amid inflation

CFO net sold $1.5M (14% holdings), part of $3M insider outflows in Q4, signaling potential concern

Debt-to-Equity ticked up to 0.85x QoQ from 0.82x, interest coverage dipped to 4.2x

Physical/catalog revenues -12% YoY, amortization costs +18% QoQ eroding EBITDA margins -140 bps

SG&A expenses +22% YoY vs revenue +12%, compressing EBITDA margin to 18% from 20%

FY2026 guidance assumes 10% streaming growth; any slowdown risks EPS miss (historically missed 2/4 quarters)

Medicare volumes +18% YoY but reimbursement rates flat QoQ, potential for future cuts

Net debt +9% YoY to $2.4B, leverage 2.8x EBITDA (up from 2.4x), vulnerable to rate hikes

65% revenue from 3 states, weather-impacted QoQ volumes flat

Patient admissions +18% YoY and capacity at 92%, trading at 10x EV/EBITDA vs peers 14x, undervalued expansion play

Streaming +25% YoY (52% mix), upcoming catalog acquisitions at 8x EBITDA multiples vs historical 12x

New quarterly dividend $0.05/share (1.2% yield), first payout signaling cash flow maturity post-15% FCF growth YoY

$250M program (up 20% YoY), shares at $32 (below $35 avg buyback price), 5% repurchase yield potential

CEO +22% holdings ($1.2M buy), management ownership now 12% vs sector 8%, alignment for 10-15% FY guide

Raised FY EBITDA growth to 12% (from 10%), trading at 15x fwd P/E vs music peers 18x

14.2% ROE (up YoY) vs healthcare avg 10%, reinvestment into fleet expansion for 2026 margin recovery

$150M tuck-in acquisition closed Q4 at 7x EBITDA (below peers), more deals expected H1 2026

Both firms beat YoY growth (avg +9.5%) via core drivers (Quipt volumes +18%, WMG streaming +25%), outperforming S&P consumer avg +3% [BULLISH IMPLICATION: Sector defensives holding amid macro slowdown]

-110 bps avg YoY (Quipt -80 bps, WMG -140 bps) from input costs (+15-18% YoY), 2/2 companies affected vs broader market -50 bps [BEARISH IMPLICATION: Cost control key watchpoint]

Net buying at Quipt ($1.2M CEO) vs net selling at WMG ($3M Q4), highlighting conviction gaps in healthcare vs entertainment [IMPLICATION: Favor aligned mgmt names]

Combined cap alloc +25% YoY (Quipt dividend start, WMG buybacks +20%), prioritizing returns over reinvestment [BULLISH IMPLICATION: Attractive for income portfolios]

No cuts, both confirm 7-15% growth (timeframe FY2026), bucking trend of 30% peers lowering outlooks [BULLISH IMPLICATION: Catalyst-rich setups]

Debt metrics worsened (Quipt D/E +0.03x, WMG 2.8x), avg +10% YoY net debt amid rates [CAUTION: Monitor refinancing]

Feb 20, 2026 - Monitor Q1 guidance update on reimbursement rates and margin recovery trajectory post-cost inflation

Feb 25, 2026 - Watch streaming growth reaffirmation and buyback deployment details amid insider selling

Ongoing - Track further CEO buys/sales after recent $1.2M purchase, ownership threshold 15%

Through Q2 2026 - Monitor pace vs $250M authorization, avg price below $35 signals acceleration

Mar 15, 2026 - First payout confirmation, watch for increase signals on FCF trends

Apr 10, 2026 - Potential M&A updates and leverage discussion, post-$150M tuck-in

H1 2026 - Fleet additions targeting 95% utilization, catalyst for EBITDA leverage

Quarterly - Physical decline trends, any acceleration risks FY guide