Apollo Medical Holdings, Inc. ( (ASTH) ) has released its Q3 earnings. Here is a breakdown of the information Apollo Medical Holdings, Inc. presented to its investors.
Astrana Health, Inc. is a physician-centric, technology-powered healthcare company that operates within a value-based care model, focusing on delivering high-quality and cost-effective healthcare to over 1.1 million patients across the United States. Headquartered in Alhambra, California, the company leverages a network of providers and affiliated entities to manage healthcare delivery and outcomes efficiently.
In its third-quarter earnings report for 2024, Astrana Health, Inc. announced a significant increase in total revenue, which rose by 37% to $478.7 million compared to the same period last year. However, despite this revenue growth, the company reported a decrease in net income and earnings per share, reflecting higher operational costs and strategic investments.
Key financial highlights for the quarter included a 42% increase in Care Partners revenue and a 13% decrease in adjusted EBITDA, showing mixed results in profitability. Additionally, Astrana completed several acquisitions, including Collaborative Health Systems, to expand its operational footprint, signaling ongoing strategic growth efforts.
Looking ahead, Astrana Health has adjusted its full-year 2024 guidance, raising revenue expectations while narrowing net income and EBITDA forecasts. The management remains optimistic about leveraging their care model and recent acquisitions to continue improving healthcare access and coordination, aiming for sustainable growth and enhanced patient outcomes in the coming quarters.
