Astrana Health, Inc. Reports Third Quarter 2024 Results
Astrana Health (NASDAQ: ASTH) reported Q3 2024 financial results with total revenue of $478.7 million, up 37% year-over-year. Care Partners revenue increased 42% to $455.8 million. However, net income declined 27% to $16.1 million, with diluted EPS falling 30% to $0.33. Adjusted EBITDA decreased 13% to $45.2 million.
The company recently acquired Collaborative Health Systems and related entities for $37.5 million plus potential earnout payments up to $21.5 million. Astrana updated its 2024 guidance, projecting total revenue between $1,950-$2,030 million and net income of $52-$58 million.
Astrana Health (NASDAQ: ASTH) ha riportato i risultati finanziari del terzo trimestre 2024 con un fatturato totale di $478.7 milioni, in aumento del 37% rispetto all'anno precedente. I ricavi da Care Partners sono aumentati del 42% a $455.8 milioni. Tuttavia, l'utile netto è diminuito del 27%, attestandosi a $16.1 milioni, con un utile per azione diluito in calo del 30% a $0.33. L'EBITDA rettificato è diminuito del 13%, raggiungendo $45.2 milioni.
Recentemente, l'azienda ha acquisito Collaborative Health Systems e entità correlate per $37.5 milioni, oltre a potenziali pagamenti di guadagno fino a $21.5 milioni. Astrana ha aggiornato le sue previsioni per il 2024, progettando un fatturato totale tra $1,950 e $2,030 milioni e un utile netto tra $52 e $58 milioni.
Astrana Health (NASDAQ: ASTH) reportó los resultados financieros del tercer trimestre de 2024 con ingresos totales de $478.7 millones, un aumento del 37% interanual. Los ingresos de Care Partners aumentaron un 42% a $455.8 millones. Sin embargo, la renta neta disminuyó un 27% a $16.1 millones, con una EPS diluida cayendo un 30% a $0.33. El EBITDA ajustado disminuyó un 13% a $45.2 millones.
Recientemente, la empresa adquirió Collaborative Health Systems y entidades relacionadas por $37.5 millones más pagos de ganancias potenciales de hasta $21.5 millones. Astrana actualizó su guía para 2024, proyectando ingresos totales entre $1,950 y $2,030 millones y una renta neta de $52 a $58 millones.
Astrana Health (NASDAQ: ASTH)는 2024년 3분기 재무 결과를 보고했으며, 총 수익은 $478.7 백만으로 작년 대비 37% 증가했습니다. Care Partners의 수익은 42% 증가하여 $455.8 백만에 달했습니다. 그러나 순이익은 27% 감소하여 $16.1 백만으로 나타났으며, 희석 주당순이익은 30% 감소하여 $0.33에 이르렀습니다. 조정된 EBITDA는 13% 감소하여 $45.2 백만이 되었습니다.
회사는 최근 Collaborative Health Systems 및 관련 기관을 $37.5 백만에 인수하였으며, 최대 $21.5 백만의 잠재적 성과금을 포함하고 있습니다. Astrana는 2024년 가이드를 업데이트하며 총 수익을 $1,950-$2,030 백만, 순이익을 $52-$58 백만으로 전망했습니다.
Astrana Health (NASDAQ: ASTH) a annoncé les résultats financiers du troisième trimestre 2024, avec un chiffre d'affaires total de $478,7 millions, en hausse de 37 % par rapport à l'année précédente. Les revenus de Care Partners ont augmenté de 42 % pour atteindre $455,8 millions. Cependant, le bénéfice net a chuté de 27 % à $16,1 millions, avec un BPA dilué en baisse de 30 % à $0,33. L'EBITDA ajusté a diminué de 13 % à $45,2 millions.
Récemment, l'entreprise a acquis Collaborative Health Systems et des entités connexes pour $37,5 millions, plus des paiements potentiels de gains pouvant atteindre $21,5 millions. Astrana a mis à jour ses prévisions pour 2024, projetant un chiffre d'affaires total entre $1,950 et $2,030 millions et un bénéfice net de $52 à $58 millions.
Astrana Health (NASDAQ: ASTH) hat die finanziellen Ergebnisse für das dritte Quartal 2024 veröffentlicht, mit einem Gesamtumsatz von $478,7 Millionen, was einem Anstieg von 37% im Jahresvergleich entspricht. Die Einnahmen von Care Partners stiegen um 42% auf $455,8 Millionen. Das Nettoeinkommen fiel jedoch um 27% auf $16,1 Millionen, während das verwässerte EPS um 30% auf $0,33 zurückging. Das bereinigte EBITDA verringerte sich um 13% auf $45,2 Millionen.
Das Unternehmen hat kürzlich Collaborative Health Systems und verwandte Unternehmen für $37,5 Millionen sowie potenzielle Earnout-Zahlungen von bis zu $21,5 Millionen übernommen. Astrana hat seine Prognosen für 2024 aktualisiert und geht von einem Gesamtumsatz zwischen $1,950 und $2,030 Millionen sowie einem Nettoeinkommen von $52 bis $58 Millionen aus.
- Total revenue grew 37% YoY to $478.7 million
- Care Partners revenue increased 42% to $455.8 million
- Nine-month net income improved 4% to $50.1 million
- Strategic acquisition of CHS completed for market expansion
- Q3 net income decreased 27% to $16.1 million
- Diluted EPS declined 30% to $0.33
- Adjusted EBITDA fell 13% to $45.2 million
- CareDelivery segment reported operating loss of $1.36 million
Insights
The Q3 results present a mixed financial picture. While total revenue showed impressive growth of
The acquisition of CHS for
The divergence between revenue growth and profitability metrics warrants attention, as it may indicate challenges in cost management during rapid expansion.
The expansion to serve 1.1 million patients demonstrates Astrana's growing market presence in value-based care. The CHS acquisition strategically strengthens their provider network and care delivery capabilities. The company's three-segment model (CarePartners, CareDelivery and CareEnablement) shows varying performance, with CarePartners driving primary growth while CareDelivery posted an operational loss of
The
Company to Host Conference Call on Thursday, November 7, 2024, at 2:30 p.m. PT/5:30 p.m. ET
"Astrana's strong third quarter continues to reflect the outcomes we are driving with the Astrana care model and value-based care enablement platform. We continued to see strong organic and inorganic growth across our businesses while delivering high-quality care and managing costs effectively in the quarter. We are confident in our platform's ability to continue improving access, quality, and coordination of care for around 1.1 million patients in local communities nationwide," said President and CEO of Astrana, Brandon K. Sim.
Financial Highlights for three months ended September 30, 2024:
All comparisons are to the three months ended September 30, 2023 unless otherwise stated.
- Total revenue of
$478.7 million 37% from$348.2 million - Care Partners revenue of
$455.8 million 42% from$320.9 million - Net income attributable to Astrana of
$16.1 million 27% from$22.1 million - Earnings per share - diluted ("EPS - diluted") of
$0.33 30% from$0.47 - Adjusted EBITDA of
$45.2 million 13% from$52.0 million
Financial Highlights for the nine months ended September 30, 2024:
All comparisons are to the nine months ended September 30, 2023 unless otherwise stated.
- Total revenue of
$1,369.3 million 32% from$1,033.6 million - Care Partners revenue of
$1,301.4 million 36% from$957.3 million - Net income attributable to Astrana of
$50.1 million 4% from$48.4 million - Earnings per share - diluted ("EPS - diluted") of
$1.04 1% from$1.03 - Adjusted EBITDA of
$135.3 million 15% from$117.6 million
Recent Operating Highlights
- On October 4, 2024, the Company closed the acquisition of all of the outstanding membership interest in Collaborative Health Systems, LLC ("CHS") and all of the outstanding equity interests in Golden Triangle Physician Alliance and Heritage Physician Networks for an aggregate purchase price of
$37.5 million $21.5 million
Segment Results for three months ended September 30, 2024: | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2024 | |||||||||||||||||||||||||||||
(in thousands) | Care | Care | Care | Other | Intersegment | Corporate | Consolidated | ||||||||||||||||||||||
Total revenues | $ | 455,760 | $ | 34,728 | $ | 40,930 | $ | — | $ | (52,708) | $ | — | $ | 478,710 | |||||||||||||||
% change vs. prior year quarter | 42 | % | 20 | % | 11 | % | |||||||||||||||||||||||
Cost of services | 369,835 | 29,114 | 19,604 | — | (13,335) | — | 405,218 | ||||||||||||||||||||||
General and administrative(1) | 47,139 | 6,971 | 15,012 | — | (39,370) | 15,315 | 45,067 | ||||||||||||||||||||||
Total expenses | 416,974 | 36,085 | 34,616 | — | (52,705) | 15,315 | 450,285 | ||||||||||||||||||||||
Income (loss) from operations | $ | 38,786 | $ | (1,357) | $ | 6,314 | $ | — | $ | (3) | (2) | $ | (15,315) | $ | 28,425 | ||||||||||||||
% change vs. prior year quarter | (4) | % | 31 | % | (2) | % | |||||||||||||||||||||||
(1) | Balance includes general and administrative expenses and depreciation and amortization. |
(2) | Income from operations for the intersegment elimination represents rental income from segments renting from other segments. Rental income is presented within other income which is not presented in the table. |
2024 Guidance:
As we adjust our full-year outlook to incorporate CHS's financial contribution, we are raising our revenue guidance and narrowing our net income attributable to Astrana, Adjusted EBITDA, and EPS guidance for the year ending December 31, 2024.
($ in millions, except per share amounts) | 2024 Guidance Range | |||||||
Low | High | |||||||
Total revenue | $ | 1,950 | $ | 2,030 | ||||
Net income attributable to Astrana Health, Inc. | $ | 52 | $ | 58 | ||||
Adjusted EBITDA | $ | 165 | $ | 175 | ||||
EPS – diluted | $ | 1.06 | $ | 1.19 | ||||
See "Guidance Reconciliation of Net Income to EBITDA and Adjusted EBITDA" and "Use of Non-GAAP Financial Measures" below for additional information. There can be no assurance that actual amounts will not be materially higher or lower than these expectations. See "Forward-Looking Statements" below for additional information.
Conference Call and Webcast Information:
Astrana will host a conference call at 2:30 p.m. PT/5:30 p.m. ET today (Thursday, November 7, 2024), during which management will discuss the results of the third quarter ended September 30, 2024. To participate in the conference call, please use the following dial-in numbers about 5 minutes prior to the scheduled conference call time:
International (Toll): +1 (713) 481-1320
The conference call can also be accessed via webcast at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=qeu83NWd
An accompanying slide presentation will be available in PDF format on the "IR Calendar" page of the Company's website (https://ir.astranahealth.com/news-events/ir-calendar) after issuance of the earnings release and will be furnished as an exhibit to Astrana's current report on Form 8-K to be filed with the SEC, accessible at www.sec.gov.
Those who are unable to attend the live conference call may access the recording at the above webcast link, which will be made available shortly after the conclusion of the call.
Note About Consolidated Entities
The Company consolidates entities in which it has a controlling financial interest. The Company consolidates subsidiaries in which it holds, directly or indirectly, more than
Note About Stockholders' Equity, Certain Treasury Stock and Earnings Per Share
As of the date of this press release, 41,048 holdback shares have not been issued to certain former shareholders of the Company's subsidiary, Astrana Health Management, Inc. ("AHM"), formerly known as Network Medical Management, Inc., who were AHM shareholders at the time of closing of the merger, as they have yet to submit properly completed letters of transmittal to Astrana in order to receive their pro rata portion of Astrana's common stock and warrants as contemplated under that certain Agreement and Plan of Merger, dated December 21, 2016, among Astrana, AHM, Apollo Acquisition Corp. ("Merger Subsidiary") and Kenneth Sim, M.D., as amended, pursuant to which Merger Subsidiary merged with and into AHM, with AHM as the surviving corporation. Pending such receipt, such former AHM shareholders have the right to receive, without interest, their pro rata share of dividends or distributions with a record date after the effectiveness of the merger. The Company's consolidated financial statements have treated such shares of common stock as outstanding, given the receipt of the letter of transmittal is considered perfunctory and Astrana is legally obligated to issue these shares in connection with the merger.
Shares of Astrana's common stock owned by Allied Physicians of
About Astrana Health, Inc.
Astrana is a leading physician-centric, technology-powered, risk-bearing healthcare management company. Leveraging its proprietary population health management and healthcare delivery platform, Astrana operates an integrated, value-based healthcare model, which aims to empower the providers in its network to deliver the highest quality of care to its patients in a cost-effective manner. Together with our affiliated physician groups and consolidated entities, we provide coordinated outcomes-based medical care in a cost-effective manner.
Headquartered in
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements about the Company's guidance for the year ending December 31, 2024, ability to meet operational goals, ability to meet expectations in deployment of care coordination and management capabilities, ability to decrease cost of care while improving quality and outcomes, ability to deliver sustainable revenue and EBITDA growth as well as long-term value, ability to respond to the changing environment, and successful implementation of strategic growth plans, acquisition strategy, and merger integration efforts. Forward-looking statements reflect current views with respect to future events and financial performance and therefore cannot be guaranteed. Such statements are based on the current expectations and certain assumptions of the Company's management, and some or all of such expectations and assumptions may not materialize or may vary significantly from actual results. Actual results may also vary materially from forward-looking statements due to risks, uncertainties and other factors, known and unknown, including the risk factors described from time to time in the Company's reports filed or furnished with the Securities and Exchange Commission, including, without limitation the risk factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and any subsequent quarterly reports on Form 10-Q.
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations
(626) 943-6491
investors@astranahealth.com
ASTRANA HEALTH, INC. | ||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) | ||||||||
September 30, | December 31, | |||||||
(Unaudited) | ||||||||
Assets | ||||||||
Current assets | ||||||||
Cash and cash equivalents | $ | 347,994 | $ | 293,807 | ||||
Investment in marketable securities | 2,354 | 2,498 | ||||||
Receivables, net | 132,237 | 76,780 | ||||||
Receivables, net – related parties | 76,568 | 58,980 | ||||||
Income taxes receivable | 16,211 | 10,657 | ||||||
Other receivables | 1,120 | 1,335 | ||||||
Prepaid expenses and other current assets | 20,506 | 17,450 | ||||||
Total current assets | 596,990 | 461,507 | ||||||
Non-current assets | ||||||||
Land, property and equipment, net | 12,172 | 7,171 | ||||||
Intangible assets, net | 109,108 | 71,648 | ||||||
Goodwill | 409,711 | 278,831 | ||||||
Income taxes receivable | 15,943 | 15,943 | ||||||
Loans receivable, non-current | 55,284 | 26,473 | ||||||
Investments in other entities – equity method | 34,629 | 25,774 | ||||||
Investments in privately held entities | 8,896 | 6,396 | ||||||
Restricted cash | 646 | 345 | ||||||
Operating lease right-of-use assets | 33,119 | 37,396 | ||||||
Other assets | 8,878 | 1,877 | ||||||
Total non-current assets | 688,386 | 471,854 | ||||||
Total assets(1) | $ | 1,285,376 | $ | 933,361 | ||||
Liabilities, mezzanine equity and equity | ||||||||
Current liabilities | ||||||||
Accounts payable and accrued expenses | $ | 94,811 | $ | 59,949 | ||||
Fiduciary accounts payable | 6,041 | 7,737 | ||||||
Medical liabilities | 160,279 | 106,657 | ||||||
Dividend payable | 638 | 638 | ||||||
Finance lease liabilities | 554 | 646 | ||||||
Operating lease liabilities | 5,241 | 4,607 | ||||||
Current portion of long-term debt | 15,000 | 19,500 | ||||||
Other liabilities | 30,364 | 18,940 | ||||||
Total current liabilities | 312,928 | 218,674 | ||||||
Non-current liabilities | ||||||||
Deferred tax liability | 2,857 | 4,072 | ||||||
Finance lease liabilities, net of current portion | 743 | 1,033 | ||||||
Operating lease liabilities, net of current portion | 31,162 | 36,289 | ||||||
Long-term debt, net of current portion and deferred financing costs | 423,119 | 258,939 | ||||||
Other long-term liabilities | 7,460 | 3,586 | ||||||
Total non-current liabilities | 465,341 | 303,919 | ||||||
Total liabilities(1) | 778,269 | 522,593 | ||||||
Commitments and contingencies | ||||||||
Mezzanine equity | ||||||||
Noncontrolling interest in Allied Physicians of | (202,512) | (205,883) | ||||||
Stockholders' equity | ||||||||
Preferred stock, | ||||||||
Series A Preferred stock, zero authorized and issued and zero outstanding as of | — | — | ||||||
Series B Preferred stock, zero authorized and issued and zero outstanding as of | — | — | ||||||
Common stock, | 48 | 47 | ||||||
Additional paid-in capital | 411,334 | 371,037 | ||||||
Retained earnings | 293,234 | 243,134 | ||||||
Total stockholders' equity | 704,616 | 614,218 | ||||||
Non-controlling interest | 5,003 | 2,433 | ||||||
Total equity | 709,619 | 616,651 | ||||||
Total liabilities, mezzanine equity and equity | $ | 1,285,376 | $ | 933,361 | ||||
(1) | The Company's condensed consolidated balance sheets include the assets and liabilities of its consolidated VIEs. The condensed consolidated balance sheets include total assets that can be used only to settle obligations of the Company's consolidated VIEs totaling |
ASTRANA HEALTH, INC. | ||||||||||||||||
CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) | ||||||||||||||||
(UNAUDITED) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
2024 | 2023 | 2024 | 2023 | |||||||||||||
Revenue | ||||||||||||||||
Capitation, net | $ | 431,401 | $ | 305,678 | $ | 1,239,885 | $ | 906,430 | ||||||||
Risk pool settlements and incentives | 21,779 | 15,022 | 57,564 | 48,605 | ||||||||||||
Management fee income | 2,747 | 9,898 | 8,429 | 32,287 | ||||||||||||
Fee-for-service, net | 18,692 | 15,892 | 54,588 | 41,216 | ||||||||||||
Other revenue | 4,091 | 1,683 | 8,865 | 5,087 | ||||||||||||
Total revenue | 478,710 | 348,173 | 1,369,331 | 1,033,625 | ||||||||||||
Operating expenses | ||||||||||||||||
Cost of services, excluding depreciation and amortization | 405,218 | 275,375 | 1,148,422 | 857,648 | ||||||||||||
General and administrative expenses | 37,803 | 29,410 | 112,478 | 74,648 | ||||||||||||
Depreciation and amortization | 7,264 | 4,305 | 19,801 | 12,846 | ||||||||||||
Total expenses | 450,285 | 309,090 | 1,280,701 | 945,142 | ||||||||||||
Income from operations | 28,425 | 39,083 | 88,630 | 88,483 | ||||||||||||
Other income (expense) | ||||||||||||||||
Income (loss) from equity method investments | 1,353 | (2,104) | 2,887 | 3,104 | ||||||||||||
Interest expense | (8,856) | (3,779) | (25,028) | (10,680) | ||||||||||||
Interest income | 3,778 | 3,281 | 11,287 | 9,617 | ||||||||||||
Unrealized (loss) gain on investments | (561) | (342) | 415 | (5,875) | ||||||||||||
Other income | 2,673 | 1,876 | 4,522 | 4,265 | ||||||||||||
Total other (expense) income, net | (1,613) | (1,068) | (5,917) | 431 | ||||||||||||
Income before provision for income taxes | 26,812 | 38,015 | 82,713 | 88,914 | ||||||||||||
Provision for income taxes | 7,831 | 10,042 | 25,004 | 30,971 | ||||||||||||
Net income | 18,981 | 27,973 | 57,709 | 57,943 | ||||||||||||
Net income attributable to non-controlling interest | 2,887 | 5,914 | 7,609 | 9,582 | ||||||||||||
Net income attributable to Astrana Health, Inc. | $ | 16,094 | $ | 22,059 | $ | 50,100 | $ | 48,361 | ||||||||
Earnings per share – basic | $ | 0.34 | $ | 0.47 | $ | 1.05 | $ | 1.04 | ||||||||
Earnings per share – diluted | $ | 0.33 | $ | 0.47 | $ | 1.04 | $ | 1.03 | ||||||||
EBITDA
Set forth below are reconciliations of Net Income to EBITDA and Adjusted EBITDA as well as the reconciliation to Adjusted EBITDA margin for the three and nine months ended September 30, 2024 and 2023. The Company defines Adjusted EBITDA margin as Adjusted EBITDA over total revenue.
Three Months Ended | Nine Months Ended | |||||||||||||||||||
(in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||
Net income | $ | 18,981 | $ | 27,973 | $ | 57,709 | $ | 57,943 | ||||||||||||
Interest expense | 8,856 | 3,779 | 25,028 | 10,680 | ||||||||||||||||
Interest income | (3,778) | (3,281) | (11,287) | (9,617) | ||||||||||||||||
Provision for income taxes | 7,831 | 10,042 | 25,004 | 30,971 | ||||||||||||||||
Depreciation and amortization | 7,264 | 4,305 | 19,801 | 12,846 | ||||||||||||||||
EBITDA | 39,154 | 42,818 | 116,255 | 102,823 | ||||||||||||||||
(Income) loss from equity method investments | (1,353) | 2,016 | (2,887) | (3,160) | ||||||||||||||||
Other, net | 1,206 | (1) | 1,723 | (2) | 2,663 | (3) | 1,507 | (2) | ||||||||||||
Stock-based compensation | 6,163 | 5,706 | 19,301 | 13,364 | ||||||||||||||||
APC excluded asset costs | — | (289) | — | 3,039 | ||||||||||||||||
Adjusted EBITDA | $ | 45,170 | $ | 51,974 | $ | 135,332 | $ | 117,573 | ||||||||||||
Total revenue | $ | 478,710 | $ | 348,173 | $ | 1,369,331 | $ | 1,033,625 | ||||||||||||
Adjusted EBITDA margin | 9 | % | 15 | % | 10 | % | 11 | % | ||||||||||||
(1) | Other, net for the three months ended September 30, 2024 relates to non-cash changes related to change in the fair value of our financing obligation to purchase the remaining equity interests in one of our investments, non-cash changes related to change in the fair value of the Company's Collar Agreement, non-cash gain on debt extinguishment related to one of our promissory note payables, and transaction costs incurred for our investments and tax restructuring fees. |
(2) | Other, net for the three and nine months ended September 30, 2023 relates to transaction costs incurred for our investments and tax restructuring fees and non-cash changes related to change in the fair value of our financing obligation to purchase the remaining equity interests, changes in the fair value of our contingent liabilities, and changes in the fair value of the Company's Collar Agreement. |
(3) | Other, net for the nine months ended September 30, 2024 relates to financial guarantee via a letter of credit that we provided almost three years ago in support of two local provider-led ACOs, non-cash changes related to change in the fair value of our financing obligation to purchase the remaining equity interests in one of our investments, non-cash changes related to change in the fair value of the Company's Collar Agreement, non-cash gain on debt extinguishment related to one of our promissory note payables, transaction costs incurred for our investments and tax restructuring fees, and reimbursement from a related party of the Company for taxes associated with the Excluded Assets spin-off. |
Guidance Reconciliation of Net Income to EBITDA and Adjusted EBITDA | ||||||||
2024 Guidance Range | ||||||||
(in thousands) | Low | High | ||||||
Net income | $ | 59,340 | $ | 66,240 | ||||
Interest expense | 18,750 | 18,750 | ||||||
Provision for income taxes | 26,660 | 29,760 | ||||||
Depreciation and amortization | 27,500 | 27,500 | ||||||
EBITDA | 132,250 | 142,250 | ||||||
Income from equity method investments | (4,250) | (4,250) | ||||||
Other, net | 5,000 | 5,000 | ||||||
Stock-based compensation | 32,000 | 32,000 | ||||||
Adjusted EBITDA | $ | 165,000 | $ | 175,000 | ||||
Use of Non-GAAP Financial Measures
This press release contains the non-GAAP financial measures EBITDA and Adjusted EBITDA, of which the most directly comparable financial measure presented in accordance with
The Company believes the presentation of these non-GAAP financial measures provides investors with relevant and useful information, as it allows investors to evaluate the operating performance of the business activities without having to account for differences recognized because of non-core or non-recurring financial information. When GAAP financial measures are viewed in conjunction with non-GAAP financial measures, investors are provided with a more meaningful understanding of the Company's ongoing operating performance. In addition, these non-GAAP financial measures are among those indicators the Company uses as a basis for evaluating operational performance, allocating resources, and planning and forecasting future periods. Non-GAAP financial measures are not intended to be considered in isolation, or as a substitute for, GAAP financial measures. Other companies may calculate both EBITDA and Adjusted EBITDA differently, limiting the usefulness of these measures for comparative purposes. To the extent this release contains historical or future non-GAAP financial measures, the Company has provided corresponding GAAP financial measures for comparative purposes. The reconciliation between certain GAAP and non-GAAP measures is provided above.
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SOURCE Astrana Health, Inc.
FAQ
What was Astrana Health's (ASTH) revenue growth in Q3 2024?
How much did Astrana Health (ASTH) pay for the CHS acquisition?
What is Astrana Health's (ASTH) revenue guidance for 2024?
