One Medical Announces Results for First Quarter 2020
1Life Healthcare, Inc. (ONEM) reported a 25% increase in net revenue to $78.8 million for Q1 2020, compared to $63 million in Q1 2019. The ending membership count rose by 25% year-over-year, reaching approximately 455,000. The company ended the quarter with $375.4 million in cash and marketable securities and only $2.2 million in debt. Despite the positive growth, One Medical reported a net loss of $34.6 million for the quarter. Looking forward, the company anticipates ending 2020 with between 500,000 and 515,000 members.
- Net revenue surged 25% YoY to $78.8 million.
- Membership increased 25% YoY, totaling approximately 455,000.
- Ending cash and marketable securities of $375.4 million.
- Minimal debt at $2.2 million.
- Upward revision of 2020 membership guidance to 500,000-515,000.
- Net loss of $34.6 million, or 44% of total net revenue.
- Loss from operations at $29 million, or 37% of total net revenue.
- Adjusted EBITDA loss of $13.5 million, or 17% of total net revenue.
- First Quarter 2020 Net Revenue of
$78.8 Million , a25% Increase Year-Over-Year - First Quarter 2020 Ending Membership Count of Approximately 455,000, a
25% Increase Year-Over-Year - Ending First Quarter 2020 Cash and Short-term Marketable Securities Balance of
$375.4 million ;$2.2 million in debt - Provides Q2 2020 Guidance
SAN FRANCISCO, May 13, 2020 (GLOBE NEWSWIRE) -- 1Life Healthcare, Inc. (One Medical) (Nasdaq: ONEM) today announced financial results for the first quarter ended March 31, 2020.
“Our One Medical model has demonstrated that it performs in both ordinary and extraordinary times. We have extended our digital solutions, expanded in-person care and testing services, grown our geographic reach, added more members and enterprise relationships, advanced our health network partnerships, and launched our worksite re-entry program,” said Amir Dan Rubin, Chair & CEO & President of One Medical. “Our team has engaged with hundreds of thousands of members digitally, arranged for COVID-19 testing services, donned PPE to deliver care, conducted video chats and remote visits, and followed up with patients on test results and subsequent care needs.”
Financial Highlights for the First Quarter 2020
“We are in a unique time to demonstrate the power of our model, accelerating our membership growth, increasing brand loyalty and driving diverse product adoption. We ended Q1 with
All comparisons, unless otherwise noted, are to the three months ended March 31, 2019.
- Membership count as of quarter-end was approximately 455,000 compared to approximately 364,000, a
25% increase. - Net Revenue was
$78.8 million compared to$63.0 million , a25% increase. - Care Margin was
$27.2 million , or35% of total net revenue; Loss from Operations was$29.0 million , or37% of total net revenue. - Adjusted EBITDA was a loss of
$13.5 million , or17% of total net revenue; Net Loss was$34.6 million , or44% of total net revenue. - Cash and Short-term Marketable Securities as of quarter-end were
$375.4 million . - Debt as of quarter-end was
$2.2 million .
Financial Outlook
One Medical provides forward-looking guidance on membership count, total net revenue, care margin, and adjusted EBITDA. Care margin and adjusted EBITDA are non-GAAP measures.
For the second quarter of 2020, we expect:
- Ending Membership count between 465,000 to 475,000,
- Total Net Revenue between
$56.0 million and$66.0 million , - Care Margin between
$1.0 million and$11.0 million , and, - Adjusted EBITDA between a loss of
$36.0 million and a loss of$26.0 million .
For the full year of 2020, we expect:
- Ending Membership count between 500,000 to 515,000, an increase to our previous guidance of 495,000 to 510,000 ending membership count.
Management has not provided revenue, care margin, or adjusted EBITDA guidance for 2020 because of uncertainties around the duration and extent of the continued COVID-19 pandemic and related community self-isolation practices and any impact that these two items may have on the company’s financial performance for full year 2020.
Management has not reconciled forward-looking non-GAAP care margin and adjusted EBITDA to their most directly comparable GAAP measures of loss from operations and net loss, respectively. This is because we cannot predict with reasonable certainty the ultimate outcome of certain GAAP components of such reconciliations, including market-related assumptions that are not within our control, or others that may arise, without unreasonable effort. For these reasons, we are unable to assess the probable significance of the unavailable information, which could materially impact the amount of the future directly comparable GAAP measures. See below for additional important disclosures regarding our non-GAAP financial measures.
Quarterly Conference Call Details
The company will host a conference call to review the results today, Wednesday, May 13, 2020 at 2:00 p.m. (PT) / 5:00 p.m. (ET) to discuss its financial results. A live audio webcast and a supplemental presentation will be available online at https://investor.onemedical.com. The conference call can also be accessed by dialing 1-800-258-1651 for U.S. participants, or 1-612-979-9928 for international participants, and referencing conference ID 7759975. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days.
Key Metrics and Non-GAAP Financial Measures
Members: a member is a person who has paid for membership themselves or an employee or dependent whose membership has been paid for by an enterprise client and who has registered with us. Members help drive membership revenue, partnership revenue and patient service revenue. While the COVID-19 pandemic and related governmental and community responses have negatively impacted our ability to generate revenue from our members compared to prior periods, we believe growth in the number of members remains a key indicator of the performance of our business. Our Membership depends, in part, on our ability to successfully market our services directly to consumers and to employers that are not yet enterprise clients and our activation rate within existing clients. While growth in the number of members is an important indicator of expected revenue growth, it also informs our management of the areas of our business that will require further investment to support expected future member growth.
Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. We believe that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations, or outlook. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.
Care Margin: we define care margin as loss from operations excluding depreciation and amortization, general and administrative expense and sales and marketing expense. We consider care margin to be an important measure to monitor our performance, specific to the direct costs of delivering care. We believe this margin is useful to measure whether we are controlling our direct expenses included in the provision of care sufficiently and whether we are effectively pricing our services. We have provided below a reconciliation of historical care margin to loss from operations, its most directly comparable GAAP financial measure.
Adjusted EBITDA: we define adjusted EBITDA as net loss excluding interest income, interest expense, depreciation and amortization, stock-based compensation, change in the fair value of our redeemable convertible preferred stock warrant liability and provision for income taxes. We report adjusted EBITDA because it is an important measure upon which our management assesses and believes investors should assess our operating performance. We consider adjusted EBITDA to be an important measure because it helps illustrate underlying trends in our business and our historical operating performance on a more consistent basis. We have provided below a reconciliation of historical adjusted EBITDA to net loss, its most directly comparable GAAP financial measure.
Available Information
One Medical intends to use its Company website (including its Investor Relations website) as well as its Facebook, Twitter and LinkedIn accounts as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Forward-Looking Statements
This press release contains forward-looking statements about us and our industry that involve substantial risks and uncertainties and are based on our beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations, financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” or “would,” or the negative of these words or other similar terms or expressions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements represent our beliefs and assumptions only as of the date of this release. These statements, and related risks, uncertainties, factors and assumptions, include, but are not limited to: the strength of the One Medical brand; member satisfaction with our services and support; the effects of the COVID-19 pandemic and related self-isolation and quarantine measures on our business, revenue, future growth and results of operations; anticipated membership growth and revenue potential from our members; our ability to retain members; our ability to successfully introduce and drive adoption of new products; changes in the pricing we offer our members; our relationships with our health network partners and enterprise clients and any changes to, accommodations in or terminations of our contracts with the health network partners or enterprise clients; our ability to improve cost of care and margins, including timing and expenses of new office openings and entry into new geographic markets; changes in laws or regulations; our involvement in litigation, including medical malpractice claims and consumer class actions; any governmental investigations or inquiries into or challenges to our relationships with the One Medical PCs under the administrative services agreements; our strategic plan; our financial outlook for the second quarter of 2020; our focus areas for investment and our investments; and our overall business trajectory. These risks are not exhaustive. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Further information on factors that could cause actual results to differ materially from the results anticipated by our forward-looking statements is included in the reports we have filed or will file with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the Quarter ended March 31, 2020. These filings, when available, are available on the investor relations section of our website at investor.onemedical.com and on the SEC’s website at www.sec.gov.
About One Medical
One Medical is a membership-based and technology-powered primary care platform with seamless digital health and inviting in-office care, convenient to where people work, shop, live, and click. Our vision is to delight millions of members with better health and better care while reducing costs. Our mission is to transform health care for all through our human-centered, technology-powered model.
Headquartered in San Francisco, 1Life Healthcare, Inc. is the administrative and managerial services company for the affiliated One Medical physician owned professional corporations that deliver medical services in-office and virtually. 1Life and the One Medical entities do business under the “One Medical” brand.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ad43f02-44ce-44cb-8fc7-303c2251ee4f
Investor Contacts:
Rose Salzwedel, One Medical
Director of Investor Relations
investor@onemedical.com
(206) 331-2211
Westwicke
Bob East or Asher Dewhurst
(443) 223-0500
onemedical@westwicke.com
Media Contact:
Kristina Skinner, One Medical
Director of External Communications
press@onemedical.com
(650) 743-5187
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except share and per share amounts)
(Unaudited)
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2020 | 2019 | |||||||
| 67%; width: | 1%; width: | 1%; width: | 13%; width: | 1%; width: | 2%; width: | 1%; width: | 13%; width: | 1%; width: |
| Net revenue | $ | 78,756 | $ | 63,010 | ||||
| Operating expenses: | ||||||||
| Cost of care, exclusive of depreciation and amortization | 51,550 | 37,780 | ||||||
| shown separately below | ||||||||
| Sales and marketing (1) | 11,155 | 8,275 | ||||||
| General and administrative (1) | 39,866 | 22,419 | ||||||
| Depreciation and amortization | 5,213 | 2,699 | ||||||
| Total operating expenses | 107,784 | 71,173 | ||||||
| Loss from operations | (29,028 | ) | (8,163 | ) | ||||
| Other income (expense), net: | ||||||||
| Interest income | 1,035 | 1,347 | ||||||
| Interest expense | (54 | ) | (155 | ) | ||||
| Change in fair value of redeemable convertible preferred | (6,560 | ) | (63 | ) | ||||
| stock warrant liability | ||||||||
| Total other income (expense), net | (5,579 | ) | 1,129 | |||||
| Loss before income taxes | (34,607 | ) | (7,034 | ) | ||||
| Provision (benefit) for income taxes | (49 | ) | 10 | |||||
| Net loss | (34,558 | ) | (7,044 | ) | ||||
| Less: Net loss attributable to noncontrolling interests | (704 | ) | (374 | ) | ||||
| Net loss attributable to 1Life Healthcare, Inc. stockholders | $ | (33,854 | ) | $ | (6,670 | ) | ||
| Net loss per share attributable to 1Life Healthcare, Inc. | $ | (0.40 | ) | $ | (0.37 | ) | ||
| stockholders — basic and diluted | ||||||||
| Weighted average common shares outstanding — basic and | 84,884,066 | 18,204,715 | ||||||
| diluted | ||||||||
| (1) Includes stock-based compensation, as follows: | ||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2020 | 2019 | |||||||
| (unaudited) | (unaudited) | |||||||
| Sales and marketing | $ | 600 | $ | 311 | ||||
| General and administrative | 9,725 | 2,643 | ||||||
| Total | $ | 10,325 | $ | 2,954 | ||||
| Components of Net Revenue: | ||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2020 | 2019 | |||||||
| (unaudited) | (unaudited) | |||||||
| Net revenue: | ||||||||
| Net patient service revenue | $ | 34,086 | $ | 33,546 | ||||
| Partnership revenue | 29,455 | 17,458 | ||||||
| Total net patient service and partnership revenue | 63,541 | 51,004 | ||||||
| Membership revenue | 15,215 | 12,006 | ||||||
| Net revenue | $ | 78,756 | $ | 63,010 | ||||
Statements of Operations Data as a Percentage of Net Revenue:
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2020 | 2019 | |||||||
| (unaudited) | (unaudited) | |||||||
| 67%; width: | 1%; width: | 1%; width: | 13%; width: | 1%; width: | 2%; width: | 1%; width: | 13%; width: | 1%; width: |
| Operating expenses: | ||||||||
| Cost of care, exclusive of depreciation and amortization | 65 | % | 60 | % | ||||
| shown separately below | ||||||||
| Sales and marketing (1) | 14 | % | 13 | % | ||||
| General and administrative (1) | 51 | % | 36 | % | ||||
| Depreciation and amortization | 7 | % | 4 | % | ||||
| Total operating expenses | 137 | % | 113 | % | ||||
| Loss from operations | -37 | % | -13 | % | ||||
| Other income (expense), net: | ||||||||
| Interest income | 1 | % | 2 | % | ||||
| Interest expense | 0 | % | 0 | % | ||||
| Change in fair value of redeemable convertible preferred | -8 | % | 0 | % | ||||
| stock warrant liability | ||||||||
| Total other income (expense), net | -7 | % | 2 | % | ||||
| Loss before income taxes | -44 | % | -11 | % | ||||
| Provision (benefit) for income taxes | 0 | % | 0 | % | ||||
| Net loss | -44 | % | -11 | % | ||||
| Less: Net loss attributable to noncontrolling interests | -1 | % | 0 | % | ||||
| Net loss attributable to 1Life Healthcare, Inc. stockholders | -43 | % | -11 | % | ||||
(1) Includes stock-based compensation, as follows:
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2020 | 2019 | |||||||
| (unaudited) | (unaudited) | |||||||
| 67%; width: | 1%; width: | 1%; width: | 13%; width: | 1%; width: | 2%; width: | 1%; width: | 13%; width: | 1%; width: |
| General and administrative | 12 | % | 4 | % | ||||
| Total | 13 | % | 5 | % | ||||
Components of Net Revenue:
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2020 | 2019 | |||||||
| (unaudited) | (unaudited) | |||||||
| 67%; width: | 1%; width: | 1%; width: | 13%; width: | 1%; width: | 2%; width: | 1%; width: | 13%; width: | 1%; width: |
| Net patient service revenue | 43 | % | 53 | % | ||||
| Partnership revenue | 37 | % | 28 | % | ||||
| Total net patient service and partnership revenue | 81 | % | 81 | % | ||||
| Membership revenue | 19 | % | 19 | % | ||||
| Net revenue | 100 | % | 100 | % | ||||
*Percentages may not sum due to rounding.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share amounts)
(Unaudited)
| March 31, | December 31, | |||||||
| 2020 | 2019 | |||||||
| 67%; width: | 1%; width: | 1%; width: | 13%; width: | 1%; width: | 2%; width: | 1%; width: | 13%; width: | 1%; width: |
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 309,647 | $ | 27,390 | ||||
| Short-term marketable securities | 65,784 | 119,146 | ||||||
| Accounts receivable, net | 42,826 | 33,601 | ||||||
| Inventories | 3,694 | 3,192 | ||||||
| Prepaid expenses and other current assets | 22,370 | 16,708 | ||||||
| Total current assets | 444,321 | 200,037 | ||||||
| Restricted cash | 1,922 | 1,922 | ||||||
| Property and equipment, net | 103,500 | 90,716 | ||||||
| Right-of-use assets | 128,476 | 108,046 | ||||||
| Intangible assets, net | — | 23 | ||||||
| Goodwill | 21,301 | 21,301 | ||||||
| Other assets | 4,854 | 8,249 | ||||||
| Total assets | $ | 704,374 | $ | 430,294 | ||||
| Liabilities, Redeemable Convertible Preferred Stock and Equity (Deficit) | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | 9,263 | 13,853 | ||||||
| Accrued expenses | 24,921 | 24,863 | ||||||
| Deferred revenue | 39,463 | 27,024 | ||||||
| Operating lease liabilities, current | 14,457 | 12,575 | ||||||
| Notes payable, current | 2,191 | 3,282 | ||||||
| Other current liabilities | 2,393 | 1,884 | ||||||
| Total current liabilities | 92,688 | 83,481 | ||||||
| Operating lease liabilities, non-current | 143,248 | 120,497 | ||||||
| Redeemable convertible preferred stock warrant liability | — | 7,220 | ||||||
| Other non-current liabilities | 627 | 639 | ||||||
| Total liabilities | 236,563 | 211,837 | ||||||
| Commitments and contingencies | ||||||||
| Redeemable convertible preferred stock (Series A, B, C, D, E, F, G, H and I), | — | 402,488 | ||||||
| | ||||||||
| Equity (deficit): | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | 126 | 19 | ||||||
| Additional paid-in capital | 780,194 | 93,945 | ||||||
| Accumulated deficit | (314,922 | ) | (281,068 | ) | ||||
| Accumulated other comprehensive income | 82 | 38 | ||||||
| Total stockholders' equity (deficit) attributable to 1Life Healthcare, Inc. | 465,480 | (187,066 | ) | |||||
| stockholders' | ||||||||
| Noncontrolling interests | 2,331 | 3,035 | ||||||
| Total equity (deficit) | 467,811 | (184,031 | ) | |||||
| Total liabilities, redeemable convertible preferred stock and equity (deficit) | $ | 704,374 | $ | 430,294 | ||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2020 | 2019 | |||||||
| 67%; width: | 1%; width: | 1%; width: | 13%; width: | 1%; width: | 2%; width: | 1%; width: | 13%; width: | 1%; width: |
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (34,558 | ) | $ | (7,044 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Provision for bad debts | 150 | - | ||||||
| Depreciation and amortization | 5,213 | 2,699 | ||||||
| Accretion of discounts and amortization of premiums on short-term marketable securities, net | (298 | ) | (1,118 | ) | ||||
| Change in fair value of redeemable convertible preferred stock warrant liability | 6,560 | 63 | ||||||
| Amortization of right-of-use assets | 3,177 | 2,358 | ||||||
| Stock-based compensation | 10,325 | 2,954 | ||||||
| Other non-cash items | (1 | ) | 37 | |||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable, net | (9,375 | ) | (9,044 | ) | ||||
| Inventories | (502 | ) | 248 | |||||
| Prepaid expenses and other current assets | (2,225 | ) | (3,186 | ) | ||||
| Other assets | (232 | ) | (298 | ) | ||||
| Accounts payable | (4,022 | ) | 1,661 | |||||
| Accrued expenses | 2,552 | (3,479 | ) | |||||
| Deferred revenue | 12,439 | 4,420 | ||||||
| Operating lease liabilities | (2,411 | ) | (1,831 | ) | ||||
| Other liabilities | 508 | 133 | ||||||
| Net cash used in operating activities | (12,700 | ) | (11,427 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Purchases of property and equipment, net | (20,458 | ) | (6,319 | ) | ||||
| Purchases of short-term marketable securities | (47,573 | ) | (87,267 | ) | ||||
| Maturities of short-term marketable securities | 101,314 | 104,800 | ||||||
| Net cash provided by investing activities | 33,283 | 11,214 | ||||||
| Cash flows from financing activities: | ||||||||
| Proceeds from initial public offering | 281,750 | - | ||||||
| Payment of underwriting discount and commissions and offering costs | (20,609 | ) | - | |||||
| Proceeds from the exercise of stock options | 1,534 | 587 | ||||||
| Proceeds from the exercise of redeemable convertible preferred and common stock warrants | 110 | - | ||||||
| Repayment of notes payable | (1,100 | ) | (1,100 | ) | ||||
| Payment of principal portion of finance lease liability | (11 | ) | - | |||||
| Net cash provided by (used in) financing activities | 261,674 | (513 | ) | |||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 282,257 | (726 | ) | |||||
| Cash, cash equivalents and restricted cash at beginning of period | 29,329 | 38,656 | ||||||
| Cash, cash equivalent and restricted cash at end of period | $ | 311,586 | $ | 37,930 | ||||
| Supplemental disclosure of cash flow information: | ||||||||
| Cash paid for interest | 49 | 133 | ||||||
| Supplemental disclosure of non-cash investing and financing activities: | ||||||||
| Purchases of property and equipment included in accounts payable and accrued expenses | 6,615 | 2,790 | ||||||
| Offering costs included in accounts payable and accrued expenses | 713 | - | ||||||
Select Metrics (As of Period End)
| March 31, | December 31, | September 30, | June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||||||||||||
| 2020 | 2019 | 2019 | 2019 | 2019 | 2018 | 2018 | 2018 | |||||||||||||||||||||||||
| 12%; width: | 1%; width: | 1%; width: | 8%; width: | 1%; width: | 1%; width: | 1%; width: | 8%; width: | 1%; width: | 1%; width: | 1%; width: | 8%; width: | 1%; width: | 1%; width: | 1%; width: | 8%; width: | 1%; width: | 1%; width: | 1%; width: | 8%; width: | 1%; width: | 1%; width: | 1%; width: | 8%; width: | 1%; width: | 1%; width: | 1%; width: | 8%; width: | 1%; width: | 1%; width: | 1%; width: | 8%; width: | 1%; width: |
| Offices | 92 | 83 | 77 | 71 | 71 | 71 | 70 | 70 | ||||||||||||||||||||||||
RECONCILIATION OF LOSS FROM OPERATIONS TO CARE MARGIN
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2020 | 2019 | |||||||
| (in thousands) | ||||||||
| 67%; width: | 1%; width: | 1%; width: | 13%; width: | 1%; width: | 2%; width: | 1%; width: | 13%; width: | 1%; width: |
| Sales and marketing | 11,155 | 8,275 | ||||||
| General and administrative | 39,866 | 22,419 | ||||||
| Depreciation and amortization | 5,213 | 2,699 | ||||||
| Care margin | $ | 27,206 | $ | 25,230 | ||||
| Care margin as a percentage of net revenue | 35 | % | 40 | % | ||||
RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2020 | 2019 | |||||||
| (in thousands) | ||||||||
| 67%; width: | 1%; width: | 1%; width: | 13%; width: | 1%; width: | 2%; width: | 1%; width: | 13%; width: | 1%; width: |
| Interest income | (1,035 | ) | (1,347 | ) | ||||
| Interest expense | 54 | 155 | ||||||
| Depreciation and amortization | 5,213 | 2,699 | ||||||
| Stock-based compensation | 10,325 | 2,954 | ||||||
| Change in fair value of redeemable convertible preferred | 6,560 | 63 | ||||||
| stock warrant liability | ||||||||
| Provision for income taxes | (49 | ) | 10 | |||||
| Adjusted EBITDA | $ | (13,490 | ) | $ | (2,510 | ) | ||
FAQ
What were One Medical's Q1 2020 financial results?
How many members did One Medical have in Q1 2020?
What is One Medical's cash position as of the end of Q1 2020?
What was One Medical's net loss in Q1 2020?
What is One Medical's membership guidance for 2020?
