Ardent Health, Inc. filed an 8-K to revise its non-GAAP financial measures in its 2025 Form 10-K following discussions with SEC staff. The company removed $97.7 million in aggregate adjustments related to a change in accounting estimate for accounts receivable collectability and a New Mexico professional liability accrual from its Adjusted EBITDA and Adjusted EBITDAR calculations. Consequently, the reported Adjusted EBITDA for the year ended December 31, 2025 decreased from $545.0 million to $447.3 million, while Adjusted EBITDAR fell from $709.3 million to $611.6 million. The filing confirms that GAAP net income and cash flows remain unchanged, with no impact on 2023 or 2024 results or 2026 financial projections. Ardent Health operates a network of acute care hospitals and medical office buildings in the healthcare industry.
