secwatch.observer — SEC 8-K summary
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Issuer:     Astrana Health, Inc. (ASTH)
CIK:        0001083446
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001104659-23-088394
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 4.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Apollo Medical restates 2020-2022 and Q1 2023 results due to tax accounting errors; net income reduced $10M cumulative
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- Net income decreases: $0.2M (2020), $3.2M (2021), $4.8M (2022), $1.8M (Q1 2023); caused by errors in intercompany dividend tax and NOL valuation allowance.
- Material weakness identified in internal control over financial reporting related to income tax accounting; prior management reports and EY opinion no longer reliable.
- Revenue, gross profit, pretax income, EBITDA, and adjusted EBITDA unaffected by restatement; 2023 outlook unchanged.
- Company plans to file amended 2022 10-K and Q1 2023 10-Q; expects to timely file Q2 2023 10-Q with recast prior-period data.
- Review of tax structure underway to reduce effective tax rate and cash taxes going forward.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083446/000110465923088394/0001104659-23-088394-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083446/000110465923088394/tm2323017d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-088394

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