American Oncology Network (AONC) operates a community-based oncology network that partners with independent oncology and hematology practices. Recurring company news covers practice additions, clinic openings, physician recruitment, and regional expansion across community cancer-care markets.
Company updates also address support services for partner practices, including in-house pharmacy, laboratory support, clinical trial access, back-office operations, and revenue-diversifying programs. News involving the network’s practices includes outpatient oncology services, infusion therapy, blood-disorder care, CAR T-cell therapy, bispecifics, radiopharmaceuticals, patient advocacy, and participation in community oncology policy and industry forums.
American Oncology Network (NASDAQ: AONC) reported a 20% revenue increase in Q1 2024, reaching $364.3 million, driven by a 7.1% rise in patient encounters. They added 17 new providers and expanded into Texas and Maryland.
The company faced a net loss of $24.9 million, up from $1.5 million in Q1 2023, due to increased costs, including $13.3 million in equity-based compensation.
Adjusted EBITDA decreased to $2.0 million from $4.1 million year-over-year. Liquidity stood at $132.7 million, aided by a $48.3 million deferral in drug payments.
American Oncology Network (Nasdaq: AONC) announced a change in the release date for its first quarter 2024 financial results, now set for May 20, 2024, before the market opens. A conference call and live webcast will follow on May 21, 2024, at 8:30 a.m. ET. To join the call, dial 1-877-704-4453 (U.S.) or 1-201-389-0920 (international), with passcode 13746298. A replay will be available until May 28, 2024, by dialing 1-844-512-2921 (U.S.) or 1-412-317-6671 (international), using Access ID 13746298. Additionally, AONC plans to file a Form 12b-25 for an automatic extension on its Form 10-Q quarterly report filing.
American Oncology Network (AONC) announced that Dave Gould will step down as Chief Financial Officer, with David Afshar appointed as interim CFO. Afshar brings over 25 years of healthcare finance experience to the role, having worked in both private equity-backed and public company environments. AONC expressed gratitude to Gould for his contributions and emphasized their commitment to providing top-notch cancer care.
American Oncology Network (AONC) will release its first quarter 2024 financial results on May 15, 2024, followed by a conference call and webcast at 8:30 a.m. Eastern Time. Investors can access the call through specific phone numbers and a passcode, with a replay available later. The financial results and webcast will be accessible on the Investor Relations section of the Company's website.
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