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Apollo Medical Holdings, Inc. Reports First Quarter 2021 Results
Company to Host Conference Call Today at 2 p.m. PT/5 p.m. ET ALHAMBRA, Calif., May 5, 2021 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed," and
About this update from Astrana Health Inc.
[{"type":"text","content":"Company to Host Conference Call Today at 2 p.m. PT/5 p.m. ET\n\n\nALHAMBRA, Calif., May 5, 2021 /PRNewswire/ -- Apollo Medical Holdings, Inc. (\"ApolloMed,\" and together with its subsidiaries and affiliated entities, the \"Company\") (NASDAQ: AMEH), a leading physician-centric, technology-powered healthcare management company, today announced its consolidated financial results for the first quarter ended March 31, 2021. \n\n \n \n \n \n \n \n\n \nFinancial Highlights for the First Quarter Ended March 31, 2021:\nQ1 earnings per share - diluted (\"EPS - diluted\") of $0.30 per share, up 173% from $0.11 per share for the prior-year quarter Q1 total revenue of $176.1 million, up 7% from $165.1 million for the prior-year quarter Q1 net income increased to $14.5 million, from $3.0 million for the prior-year quarter Q1 net income attributable to ApolloMed increased to $13.2 million, from $4.1 million for the prior-year quarter Cash and cash equivalents of $205.9 million at March 31, 2021Recent Operating Highlights: \nIn January 2021, ApolloMed announced a strategic alliance and investment in New York-based CAIPA MSO, LLC (\"CAIPA MSO\") whereby ApolloMed will own 30% of the post-closing total interests in CAIPA MSO on a fully diluted basis. With this partnership, ApolloMed will provide its proprietary technologies to CAIPA for the benefit of its physicians. The strategic alliance will provide ApolloMed with a foothold in the state of New York with the potential for expanding the alliance in the future. This transaction is expected to close in the second quarter of 2021.Guidance:\nApolloMed continues to maintain the following guidance for total revenue, net income, net income attributable to ApolloMed, EBITDA, and Adjusted EBITDA, based on the Company's existing business, current view of existing market conditions and assumptions for the year ending December 31, 2021. ApolloMed is also providing the following guidance for the second quarter ending June 30, 2021.\n(in millions)\nThree Months Ending\nYear Ending\nJune 30, 2021\nDecember 31, 2021\nLow\nHigh\nLow\nHigh\nTotal revenue\n$\n163.0\n$\n173.0\n$\n690.0\n$\n710.0\nNet income\n$\n6.3\n$\n12.3\n$\n50.0\n$\n60.0\nNet income attributable to ApolloMed\n$\n6.5\n$\n10.5\n$\n35.0\n$\n45.0\nEBITDA\n$\n15.6\n$\n21.6\n$\n95.0\n$\n105.0\nAdjusted EBITDA\n$\n20.4\n$\n24.4\n$\n115.0\n$\n125.0\...