Short answer
Surgery Partners, Inc. (SGRY) filed its Q3 2025 10-Q quarterly report on Nov 10, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $822M (up 6.6% year over year) with net income of −$23M.
Q3 2025 key financials · XBRL
- Revenue
- $822M
- +6.6% YoY · −0.6% QoQ
- Net income
- −$23M
- +28.4% YoY · −808.0% QoQ
- Operating margin
- 12.9%
- EPS (diluted)
- −$0.18
- +28.0% YoY · −800.0% QoQ
Source: XBRL data from the Surgery Partners, Inc. (SGRY) Q3 2025 10-Q on SEC EDGAR. USD.
Surgery Partners, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $821.5M, up 6.6% YoY from $770.4M
- Operating margin 12.9% vs 7.9% YoY; net loss narrowed to $22.7M from $31.7M
- Gastrointestinal strongest case-mix growth, 24.6% vs 22.8%; general surgery weakest, 1.7% vs 2.2%
- Cash $203.4M vs $269.5M at December 31; operating cash flow $170.9M vs $188.7M YoY
- Four facilities and five physician practices acquired for $52.6M; headwinds included interest rates, inflation and supply-chain risks
Risk Factors
- No material changes to 2024 Form 10-K risk factors
- Financing risk: Second Amendment to Credit Agreement dated August 13, 2025
- Governance risk: Director Patricia A. Maryland’s October 24, 2025 death created a board vacancy
- Compliance oversight risk: Maryland served on the Compliance and Ethics Committee
- No new insider-trading compliance risk: No Rule 10b5-1 arrangements adopted or terminated in Q3 2025
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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