Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Common Stock
Prior to February 3, 2020, our Common Stock, par value $0.0001 per share, was traded on the Nasdaq Capital Market under the symbol “BIOS”. On February 3, 2020, we changed our symbol to “OPCH” and began trading on the Nasdaq Global Select Market.
Holders of Record
As of March 8, 2021, there were 142 stockholders of record of our Common Stock.
Dividend Policy
We have never paid cash dividends on our Common Stock and do not anticipate doing so in the foreseeable future.
Securities Authorized for Issuance under Equity Compensation Plans
See Item 12, “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.”
Recent Sale of Unregistered Securities and Use of Proceeds
None.
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Stock Performance Graph
The following graph compares the total cumulative returns of BioScrip through August 6, 2019 and Option Care Health from August 7, 2019 through December 31, 2020 with the total cumulative returns of the Nasdaq Composite Index and the Nasdaq Health Services Index for the five-year period from December 31, 2015 through December 31, 2020. The graph shows the performance of a $100 investment in our Common Stock and each index as of December 31, 2015.
Years Ended December 31,
2015 2016 2017 2018 2019 2020
Option Care Health, Inc. $ 100.00 $ 59.43 $ 166.29 $ 204.00 $ 213.14 $ 223.43
Nasdaq Composite Index $ 100.00 $ 107.50 $ 137.86 $ 132.51 $ 179.19 $ 257.38
Nasdaq Health Services Index $ 100.00 $ 83.09 $ 100.79 $ 96.59 $ 121.54 $ 158.04
* $100 invested on December 31, 2015 in stock or index, including reinvestment of dividends.
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Item 6. Selected Financial Data
The selected consolidated financial data presented below should be read in conjunction with, and is qualified in its entirety by reference to, Management’s Discussion and Analysis of Financial Condition and Results of Operations and our consolidated financial statements and the Notes thereto appearing elsewhere in this Annual Report. The selected consolidated financial data for the years ended December 31, 2020, 2019 and 2018 reflect the adoption of ASU 2014-09, Revenue from Contracts with Customers (“ASC 606”) and the selected financial data for the year ended December 31, 2020 and 2019 reflect the adoption of ASU 2016-02, Leases (“ASC 842”). See Note 2, Summary of Significant Accounting Policies within the consolidated financial statements included in Item 8 of this report for further discussion on our accounting policies related to revenue and leases. The below periods include the results of operations from BioScrip, Inc. from the August 6, 2019 Merger Date onward.
December 31,
2020 2019 2018 2017 2016
(in thousands)
Consolidated Balance Sheets Data:
Working capital (1) (2) $ 222,989 $ 228,650 $ 227,428 $ 226,535 $ 227,763
Total assets (2) 2,647,439 2,589,547 1,428,211 1,429,542 1,405,285
Total debt, net 1,124,353 1,286,496 539,375 540,346 541,500
Stockholders' equity 1,015,724 906,827 602,825 606,105 600,770
(1) Working capital consists of total current assets less total current liabilities.
(2) Working capital and total assets for the year ended December 31, 2020 and 2019 reflect the adoption of ASU 2016-02, Leases , and are, therefore, not comparable to prior periods. See Note 2, Summary of Significant Accounting Policies included in Item 8 of this report for further discussion on our accounting policies related to leases.
Year Ended December 31,
2020 (1)
2019 (1)
2018 2017 2016
(in thousands)
Consolidated Statements of Comprehensive Income (Loss)
Net revenue (2) $ 3,032,610 $ 2,310,417 $ 1,939,791 $ 1,828,046 $ 1,711,438
Gross profit (2) 682,264 512,999 422,215 445,999 449,307
Operating income (loss) 110,755 (319) 38,269 27,279 52,448
Net (loss) income (8,076) (75,920) (6,115) 3,878 3,910
Net comprehensive (loss) income (12,053) (83,959) (5,341) 3,936 3,910
Net (loss) earnings per share, basic and diluted (0.04) (0.49) (0.04) 0.03 0.03
Weighted average common shares outstanding, basic and diluted 180,971 156,280 142,614 142,614 142,614
(1) 2020 and 2019 include the results of operations of BioScrip from August 6, 2019 onward and are, therefore, not comparable to prior periods.
(2) Net revenue and gross profit for the years ended December 31, 2020, 2019 and 2018 reflect the adoption of ASU 2014-09, Revenue from Contracts with Customers , and are, therefore, not comparable to prior periods. See Note 2, Summary of Significant Accounting Policies included in Item 8 of this report for further discussion on our accounting policies related to revenue.
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