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Apollo Medical Holdings, Inc. Reports First Quarter 2022 Results
Company to Host Conference Call Today at 2 p.m. PT/5 p.m. ET ALHAMBRA, Calif., May 5, 2022 /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\nALHAMBRA, Calif., May 5, 2022 /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 company focused on enabling providers in the successful delivery of value-based care, today announced its consolidated financial results for the first quarter ended March 31, 2022.\n\n \n \n \n \n \n \n\n \nFinancial Highlights for First Quarter Ended March 31, 2022:\nQ1 total revenue of $263.3 million, up 50% from $176.1 million for the prior-year quarterQ1 net income of $12.1 million, compared to $14.5 million for the prior-year quarter (additional detail provided in the Q1 GAAP financial review below)Q1 net income attributable to ApolloMed of $14.3 million, up 8% from $13.2 million for the prior-year quarterQ1 earnings per share - diluted (\"EPS - diluted\") of $0.31, up 3% from $0.30 per share for the prior-year quarter Q1 adjusted EBITDA of $38.2 million, up 25% from $30.5 million for the prior-year quarter Cash and cash equivalents of $237.9 million as of March 31, 2022Recent Operating Highlights: \nIn April 2022, the Company completed the previously announced acquisition of 100% of the fully diluted capitalization of Jade Health Care Medical Group (\"Jade Health\"), a primary and specialty care physician group focused on providing high-quality care to local San Francisco Bay area communities. Jade Health is committed to delivering high-quality, affordable healthcare to Medicaid, Medicare, and commercial members through its over 350 primary and specialty care providers. The transaction will add approximately 13,000 members, primarily located in the City and County of San Francisco and San Mateo County, to ApolloMed's membership.The Company appointed Chan Basho as Chief Strategy Officer. Mr. Basho will also assume the position of Interim Chief Financial Officer effective May 5, 2022, as Eric Chin is stepping down as Chief Financial Officer for personal reasons. Mr. Chin will continue to work with the Company as an executive advisor to ensure a smooth transition. Guidance:\nApolloMed is raising its guidance for total revenue and the lower end of its guidance ranges for net income, EBITDA, and adjusted EBITDA, previously disc...