earnings
confidence high
sentiment negative
materiality 0.85
agilon health reports Q3 revenue up 28% to $1.45B but net loss widens to $118M; slashes FY2024 guidance
agilon health, inc.
- Medicare Advantage members grew 37% to 525,000; total platform members 657,000 (+39% YoY).
- Gross profit negative $64M vs positive $37M prior year; medical margin negative $58M vs $111M.
- Adjusted EBITDA loss of $96M vs +$6M YoY; net loss $118M vs $31M.
- FY2024 medical margin guidance slashed to $210-240M from $400-450M; Adj. EBITDA loss guidance widened to $155-135M.
- Initiating exit of two unprofitable partnerships and other payor contracts by end of 2024.