Business
Apollo Medical Holdings, Inc. Reports Third Quarter 2022 Results, Raises Revenue, Net Income and EBITDA Guidance for Full-Year 2022
Company to Host Conference Call on Friday, Nov. 4, 2022, at 5:30 a.m. PT/8:30 a.m. ET ALHAMBRA, Calif., Nov. 3, 2022 /PRNewswire/ -- Apollo Medical Holdings,
About this update from Astrana Health Inc.
[{"type":"text","content":"Company to Host Conference Call on Friday, Nov. 4, 2022, at 5:30 a.m. PT/8:30 a.m. ET\nALHAMBRA, Calif., Nov. 3, 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 third quarter and nine months ended September 30, 2022.\n\n \n \n \n \n \n \n\n \nFinancial Highlights for Third Quarter Ended September 30, 2022:\nTotal revenue of $317.0 million, up 40% from $227.1 million for the prior-year quarterNet income attributable to ApolloMed of $26.0 million, compared to $34.3 million for the prior-year quarterEarnings per share - diluted (\"EPS - diluted\") of $0.56, compared to $0.74 per share for the prior-year quarterAdjusted EBITDA of $57.1 million, compared to $62.9 million for the prior-year quarter. Note that, beginning in the third quarter ended September 30, 2022, the Company has revised the calculation for Adjusted EBITDA to exclude addbacks related to provider bonus payments and losses from recently acquired IPAs, which it believes to be more reflective of its business.Financial Highlights for Nine Months Ended September 30, 2022:\nTotal revenue of $850.0 million, up 47% from $578.8 million for the prior-year periodNet income attributable to ApolloMed of $51.6 million, compared to $60.1 million for the prior-year periodEPS-diluted of $1.12, compared to $1.33 per share for the prior-year periodAdjusted EBITDA of $116.4 million, compared to $118.2 million for the prior-year periodCash and cash equivalents of $184.0 million as of September 30, 2022Recent Operating Highlights: \nIn September 2022, the Company entered into a definitive agreement to acquire 100% of the fully diluted capitalization of All American Medical Group (\"AAMG\") and For Your Benefit, Inc. (\"FYB\"), as well as certain related managed care assets. AAMG is a primary and specialty care physicians' group focused on providing high-quality, culturally competent care to local communities in the San Francisco Bay Area. FYB is affiliated with AAMG and is licensed by the California Department of Managed Health Care as a full-service Restricted Knox-Keene licens...