Astrana Health Inc. · NASDAQ:ASTH
Astrana Health — Apollo Medical Holdings — Q1 2021 Earnings Presentation
15 slides from Astrana Health's earnings presentation, May 5, 2021
Slide 1: First Quarter 2021 Earnings Call Supplement
1 Powered by Technology. Built by Doctors. For Patients. Apollo Medical Holdings (NASDAQ:AMEH) First Quarter 2021 Earnings Call Supplement May 5, 2021
Slide 2: Forward-Looking Statements
Forward - Looking Statements This presentation contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward - looking statements include any statements about t he Comp
Slide 3: Company Overview
Company Overview Apollo Medical Holdings, Inc. (“ApolloMed”) is a leading physician - centric, technology - powered, risk - bearing healthcare management company. Leveraging its proprietary population health management and healthcare delivery platform, ApolloMed operates an integrated, value - based
Slide 4: Q1 Highlights
Realizing benefits from technologies implemented: • $2.4M in reduced G&A expense related to third - party consulting and professional costs in Q1 2021 • Strong MLR driven by analytics and care coordination Strong financial results Technology at scale Q1 Highlights CAIPA MSO strategic alliance an
Slide 5: Historical Financial Profile
4,000 7,000 2017 2020 384,000 780,000 1,130,000 2014 2017 2020 CAGR: 27% $520 $561 $687 $700 2018 2019 2020 2021* 5 Historical Revenue Growth Consistent Membership Growth Contracted Physicians Growth ($ in millions) (# of physicians) CAGR: 6% * midpoint of 2021 guidance range $10.8 $14.1 $37.9 $40.0
Slide 6: Summary of Financial Results
Summary of Financial Results www.apollomed.net 6 $ in 000s except per share data Q1 2021 Q1 2020 Revenue Capitation, net $ 144,740 $ 140,421 Risk pool settlements and incentives 18,010 11,236 Management fee income 8,550 8,815 Fee - for - service, net 3,086 3,427 Other income 1,672 1,206 Total revenu
Slide 7: Revenue Breakdown
Capitation - Capitated fees for medical services via direct arrangements with managed care providers . Typically pre - paid monthly based on number of enrollees Risk Pool Settlements & Incentives - Full and shared risk capitation arrangements with certain health plans , local hospitals and Next Gene
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights 8 $ in millions 3/31/2021 12/31/2020 $ Change % Change Cash and cash equivalents and investments in marketable securities $272.8 $261.2 $11.6 4% Working capital $243.9 $223.6 $20.3 9% Total stockholders’ equity $349.7 $330.9 $18.8 6% www.apollomed.net
Slide 9: Current Capitalization
Current Capitalization 9 Note: Balance sheet data as of 3 /3 1 /202 1 (1) Excludes restricted cash of $65mm. www.apollomed.net (figures in millions, except per share price) Recent Share Price (as of 5/3/2021) $ 30.81 Common Shares Outstanding 55.0 Market Capitalization $ 1,694.6 Plus: Total Bank Deb
Slide 10: 2021 Guidance
2021 Guidance $ in millions Q2 2021 Guidance Range 2021 Guidance Range Total Revenue $163.0 - $173.0 $690.0 - $710.0 Net Income $6.3 - $12.3 $50.0 - $60.0 Net Income Attributable to ApolloMed $6.5 - $10.5 $35.0 - $45.0 EBITDA (1) $15.6 - $21.6 $95.0 - $105.0 Adjusted EBITDA (1) $20.4 - $24.4 $115.0
Slide 11: Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Reconciliation of Net Income to EBITDA and Adjusted EBITDA 11 www.apollomed.net Q1 2021 Q1 2020 Net income $ 14.4 $ 3.0 Interest expense 1.5 2.8 Interest income (0.3) (0.9) Provision for income taxes 6.8 1.6 Depreciation and amortization 4.2 4.7 EBITDA $ 26.6 $ 11.2 Loss (income) from equity method
Slide 12: Guidance Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Guidance Reconciliation of Net Income to EBITDA and Adjusted EBITDA 12 www.apollomed.net Low High Low High Net income $ 6.3 $ 12.3 $ 50.0 $ 60.0 Interest expense 1.5 1.6 8.0 8.5 Interest income (0.3) (0.5) (3.0) (5.0) Provision for income taxes 3.7 3.8 23.0 24.0 Depreciation and amortization 4.4 4.4
Slide 13: Use of Non-GAAP Financial Measures
Use of Non - GAAP Financial Measures This presentation contains the non - GAAP financial measures Earnings Before Interest, Taxes, Depreciation and Amortization (“EBIT DA”) and Adjusted EBITDA, of which the most directly comparable financial measure presented in accordance with GAAP is net (loss) in
Slide 14: Key Acronyms
Key Acronyms 14 ◦ ACO: Accountable Care Organization ◦ AIPBP: All - Inclusive Population - Based Payments ◦ CMMI: Center for Medicare and Medicaid Innovation ◦ CMS: Centers for Medicare & Medicaid Services ◦ DME: Durable Medical Equipment ◦ Health Plan / Payors: Health Insurance Companies ◦ HMO: Hea
Slide 15: For inquiries, please contact
15 For inquiries, please contact: ApolloMed Investor Relations (626) 943 - 6491 investors@apollomed.net Carolyne Sohn, The Equity Group (415) 568 - 2255 csohn@equityny.com
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