---
schema_version: "secwatch.filing_event.v1"
accession: "0001638833-25-000031"
form_type: "8-K"
ticker: "SGRY"
cik: "0001638833"
company_name: "Surgery Partners, Inc."
filed_at: "2025-03-03T23:59:59+00:00"
generated_at: "2026-05-25T17:57:40.671466+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Surgery Partners Q4 revenue up 17.5% to $864.4M; Adj EBITDA +15.1%; sets 2025 guidance

## Summary
- Q4 revenue $864.4M (+17.5% YoY); full-year revenue $3.1B (+13.5% YoY).
- Q4 adjusted EBITDA $163.8M (+15.1%); full-year $508.2M (+16.0%).
- Same-facility revenue growth 5.6% in Q4, 8.0% full year; cases +5.1% and +3.9% respectively.
- Net loss attributable $108.5M Q4, $168.1M full year; includes non-cash tax valuation allowance. No federal income taxes expected until 2029.
- 2025 guidance: revenue $3.30-$3.45B; Adj EBITDA $555-$565M. Liquidity >$770M.

## SEC filing metadata
- accession: 0001638833-25-000031
- form_type: 8-K
- ticker: SGRY
- cik: 0001638833
- company_name: Surgery Partners, Inc.
- filed_at: 2025-03-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1638833/000163883325000031/0001638833-25-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1638833/000163883325000031/sgry-20250303.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001638833-25-000031
- JSON: https://secwatch.observer/filing/0001638833-25-000031.json
- Plain text: https://secwatch.observer/filing/0001638833-25-000031.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.