$ARDT (ARDENT HEALTH) — 8-K: Ardent Health revises 2025 Form 10-K MD&A non-GAAP definitions for Adjusted EBITDA and Adjusted EBITDAR

Ardent Health filed revised sections of Item 7 in its 2025 Form 10-K to update definitions of Adjusted EBITDA and Adjusted EBITDAR. Adjusted EBITDA now excludes cybersecurity incident recoveries net of incremental IT and litigation costs, certain legal matters, restructuring and acquisition-related costs, Epic Systems implementation expenses, equity-based compensation, and loss or income from disposed operations. Adjusted EBITDAR adds back rent expense payable to REITs under the Ventas Master Lease, 18 Ventas medical office building leases, and the MPT lease for Hackensack Meridian Mountainside Medical Center. No financial statement figures were restated in the filing.

Ardent Health filed revised sections of Item 7 in its 2025 Form 10-K to update definitions of Adjusted EBITDA and Adjusted EBITDAR. Adjusted EBITDA now excludes cybersecurity incident recoveries net of incremental IT and litigation costs, certain legal matters, restructuring and acquisition-related costs, Epic Systems implementation expenses, equity-based compensation, and loss or income from disposed operations. Adjusted EBITDAR adds back rent expense payable to REITs under the Ventas Master Lease, 18 Ventas medical office building leases, and the MPT lease for Hackensack Meridian Mountainside Medical Center. No financial statement figures were restated in the filing.