NUTEX HEALTH INC. REPORTS FOURTH QUARTER AND FULL YEAR 2022 FINANCIAL RESULTS.

HOUSTON: Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 19 state-of-the-art micro hospitals in 8 states and primary care-centric, risk-bearing physician networks, today announced fourth quarter and fiscal year 2022 financial results for the twelve months ended December 31, 2022.

Financial Highlights for the Year Ended December 31, 2022:

Total revenue of $219.3 million.

Net loss attributable to Nutex Health Inc. of $424.8 million. In Q3, the Company recognized a one-time non-cash impairment charge of $398.1 million to reduce the carrying amount of goodwill representing the excess over fair value of the assets acquired in the reverse business combination. Please read "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our 10-K.

Adjusted EBITDA of $12.5 million.

Net cash from operating activities of $50.6 million.

As of December 31, 2022, the Company had total assets of $431.8 million, including cash and cash equivalents of $34.3 million.

Financial Highlights for the Three Months Ended December 31, 2022:

Total revenue of $53.7 million.

Net loss attributable to Nutex Health of $14.7 million.

Adjusted EBITDA of ($5.9) million.

Net cash from operating activities of $4.5 million.

Note: EBITDA and Adjusted EBITDA are non-GAAP financial metrics. A reconciliation of non-GAAP to GAAP measures is included below in this earnings release.

"Several factors affected our operating and financial results in 2022, including a significant non-cash goodwill impairment charge recognized in our third quarter, lower net revenue per patient visit due to the No Surprises Act and lower patient volumes due to fewer Covid-related visits," stated Jon Bates, Chief Financial Officer of Nutex Health.

"We had a challenging 2022 but emerged as a stronger organization. Looking forward, we remain focused on strategic and operating initiatives that we believe will yield positive results in the future. First, we have solidified our revenue cycle management efforts specifically to cope with the IDR process related to NSA. Second, we are increasing efforts to collect co-pays and co-insurance. Third, we are making efforts to sign favorable contracts with insurers. Fourth, we are accelerating contracting with local physicians to join our IPAs. Fifth, we are ramping up our marketing efforts. And finally, our Board has started a portfolio...