Ardent Health, Inc. (NYSE: ARDT) has revised its non-GAAP financial measures for the year ended December 31, 2025, following discussions with the staff of the Securities and Exchange Commission's Division of Corporation Finance.

The company filed a Current Report on Form 8-K to remove $97.7 million in aggregate adjustments from its previously reported Adjusted EBITDA and Adjusted EBITDAR figures. The two adjustments, both limited to the third quarter of 2025, related to a change in accounting estimate for accounts receivable collectability and a New Mexico professional liability accrual.

As a result of the revisions, Ardent Health's Adjusted EBITDA for fiscal year 2025 decreased from $545.0 million to $447.3 million. Adjusted EBITDAR fell from $709.3 million to $611.6 million.

The company stated that its GAAP consolidated financial statements, financial condition, results of operations, and cash flows remain unchanged. There are no revisions to 2023 or 2024 Adjusted EBITDA or Adjusted EBITDAR figures, and the company said there is no impact on its 2026 financial results.

Ardent Health said it believes the original presentation "was materially accurate and fairly presented," but made the changes in connection with the SEC staff discussions.