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agilon health Reports First Quarter 2021 Results

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agilon health, inc. (NYSE: AGL), the company transforming health care for seniors by empowering primary-care physicians to focus on the entire health of their patients, announced results for the first quarter ended March 31, 2021.

First Quarter 2021 Results:

  • Total revenue of $413 million increased 42% from 2020 and would have increased approximately 50% including a recently completed group Medicare Advantage (MA) contract that is retroactive to January 2021
  • Members of approximately 165,300 as of March 31 increased 35% from 2020 and would have increased 42% to approximately 174,300 including the retroactive group contract
  • Same geography membership growth of 8% from 2020 and same geography membership growth of 15% including the retroactive group contract
  • Net loss from continuing operations of $14 million, compared to $8 million in 2020
  • Medical Margin of $52 million, compared to $42 million in 2020
  • Adjusted EBITDA of $4 million, compared to $3 million in 2020

“We are pleased with our first quarter results, highlighted by 42% revenue growth and 35% membership growth. Including the retroactive group MA contract, same geography membership growth increased 15%, reflective of strong member retention and broad-based additions across all markets. Our aligned partnership model is resonating with physician groups and we began implementing six new geographies with approximately 49,000 members that will go-live in January 2022,” said Steve Sell, Chief Executive Officer. “With the completion of our initial public offering, we are well capitalized to support our growth strategy. We plan to use the proceeds to scale our platform, support growth of our existing physician partners, and partner with additional groups to help transform senior care in local communities across the country.”

Outlook for Second Quarter and Fiscal Year 2021:

Quarter Ending
June 30, 2021

Year Ending
December 31, 2021

Low

High

Low

High

Ending members

175,000

 

177,000

 

182,000

 

184,000

Total revenues ($M)

$470

 

$475

 

$1,765

 

$1,780

Adjusted EBITDA ($M)

 

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Agilon Health Inc

NYSE:AGL

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