Astrana Health Inc. · NASDAQ:ASTH
Astrana Health — Apollo Medical Holdings — Q4 2020 Earnings Presentation
17 slides from Astrana Health's earnings presentation, Mar 10, 2021
Slide 1: Fourth Quarter and Year-End 2020 Earnings Call Supplement
Fourth Quarter and Year - End 2020 Earnings Call Supplement March 10, 2021 NASDAQ: AMEH
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: Q4/Year-End and Recent Highlights
Company exceeded all previously disclosed guidance metrics for full - year 2020 • Revenue • Net income • EBITDA • Adj. EBITDA Achieved record growth in total revenue and net income attributable to ApolloMed in 2020 NGACO’s stellar performance in 2019, resulting in $19.8M shared savings settlem
Slide 5: ApolloMed Proprietary Technology Platform
ApolloMed Proprietary Technology Platform Revenue Cycle Management • Fully configurable solution for automated medical claims processing • >80% of claims received are automatically processed; doctors are paid more quickly and more accurately, while lowering our operating costs Provider Platform • Ea
Slide 6: Historical Financial Profile
4,000 7,000 2017 2020 384,000 780,000 1,130,000 2014 2017 2020 CAGR: 27% $520 $561 $687 $700 2018 2019 2020 2021* 6 Historical Revenue Growth Consistent Membership Growth Contracted Physicians Growth ($ in millions) (# of physicians) CAGR: 6% * midpoint of 2021 guidance range $10.8 $14.1 $37.9 $40.0
Slide 7: Summary of Financial Results
Summary of Financial Results www.apollomed.net 7 $ in 000s except per share data Q4 2020 Q4 2019 YE 2020 YE 2019 Revenue Capitation, net $ 140,923 $ 148,620 $ 557,326 $ 454,168 Risk pool settlements and incentives 23,212 18,458 77,367 51,098 Management fee income 8,638 6,801 34,850 34,668 Fee - for
Slide 8: 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 9: Balance Sheet Highlights
Balance Sheet Highlights 9 $ in millions 12/31/2020 12/31/2019 $ Change % Change Cash and cash equivalents and investments in marketable securities $261.2 $219.7 $41.4 19% Working capital $223.6 $223.6 $0.1 0% Total stockholders’ equity $330.9 $192.3 $138.6 72% www.apollomed.net
Slide 10: Current Capitalization
Current Capitalization 10 Note: Balance sheet data as of 12 /3 1 /2020. (1) Excludes restricted cash of $61mm. www.apollomed.net (figures in millions, except per share price) Recent Share Price (as of 3/5/2021) $ 24.44 Common Shares Outstanding 54.4 Market Capitalization $ 1,329.5 Plus: Total Bank D
Slide 11: 2021 Guidance
2021 Guidance $ in millions YE 2020 Results 2021 Guidance Range Total Revenue $687.2 $690.0 - $710.0 Net Income $122.3 (1) $50.0 - $60.0 Net Income Attributable to ApolloMed $37.9 $35.0 - $45.0 EBITDA (2) $203.5 (1) $95.0 - $105.0 Adjusted EBITDA (2) $126.5 $115.0 - $125.0 11 (1) 2020 net income inc
Slide 12: Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Reconciliation of Net Income to EBITDA and Adjusted EBITDA 12 Q4 2020 Q4 2019 YE 2020 YE 2019 Net income $ 12.9 $ (1.3) $ 122.3 $ 17.7 Depreciation and amortization 4.3 4.5 18.4 18.3 Provision for income taxes 11.9 1.7 56.1 8.1 Interest expense 1.5 3.4 9.5 4.7 Interest income (0.2) (0.7) (2.8) (2.0)
Slide 13: TTM EBITDA Reconciliation
TTM EBITDA Reconciliation 13 Q1 2020 Q2 2020 Q3 2020 Q4 2020 YE 2020 Net income $ 3.0 $ 81.0 $ 25.4 $ 12.9 $ 122.3 Depreciation and amortization 4.7 4.6 4.7 4.3 18.4 Provision for income taxes 1.6 31.9 10.8 11.9 56.1 Interest expense 2.9 2.7 2.5 1.5 9.5 Interest income (1.0) (0.9) (0.8) (0.2) (2.8)
Slide 14: Guidance Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Guidance Reconciliation of Net Income to EBITDA and Adjusted EBITDA 14 Low High Net income $ 50.0 $ 60.0 Depreciation and amortization 17.0 17.5 Provision for income taxes 23.0 24.0 Interest expense 8.0 8.5 Interest income (3.0) (5.0) EBITDA $ 95.0 $ 105.0 Income from equity method investments $ (0.
Slide 15: 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 16: Key Acronyms
Key Acronyms 16 ◦ 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 17: For inquiries, please contact: ApolloMed Investor Relations
For inquiries, please contact: ApolloMed Investor Relations Carolyne Sohn, The Equity Group (626) 943 - 6491 (415) 568 - 2255 investors@apollomed.net csohn@equityny.com NASDAQ: AMEH www.apollomed.net 17
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