---
schema_version: "secwatch.filing_event.v1"
accession: "0001839998-24-000038"
form_type: "8-K"
ticker: null
cik: "0001839998"
company_name: "American Oncology Network, Inc."
filed_at: "2024-05-15T23:59:59+00:00"
generated_at: "2026-06-01T23:32:02.232859+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# American Oncology Network Q1 revenue $364.3M (+20% YoY); net loss widens to $24.9M

## Summary
- Revenue $364.3M, up 20% YoY from $303.7M; patient encounters grew 7.1%.
- Net loss before non-controlling interest $24.9M vs $1.5M loss in Q1 2023.
- Adjusted EBITDA $2.0M, down from $4.1M in prior-year quarter.
- Added 17 new providers; expanded into Texas and Maryland markets.
- Cost of revenue up 27.4% driven by higher drug costs and $13.3M equity-based compensation.

## SEC filing metadata
- accession: 0001839998-24-000038
- form_type: 8-K
- cik: 0001839998
- company_name: American Oncology Network, Inc.
- filed_at: 2024-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1839998/000183999824000038/0001839998-24-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1839998/000183999824000038/aonc-20240515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001839998-24-000038
- JSON: https://secwatch.observer/filing/0001839998-24-000038.json
- Plain text: https://secwatch.observer/filing/0001839998-24-000038.txt

## Key facts
- Earnings Releases
  American Oncology Network, Inc. reported First Quarter 2024 results: revenue $364.3 million, net income Net loss before non-controlling interest was $24.9 million.
  - Period: First Quarter 2024
  - Revenue: $364.3 million
  - Net income: Net loss before non-controlling interest was $24.9 million
  - Result: reported results
  source text: Revenue was $364.3 million for the three-month period ended March 31, 2024, as compared to $303.7 million for the three-month period ended March 31, 2023, an increase of $60.6 million, or 20.0%. The overall increase was primarily attributable to increased patient encounters of 7.1% between the comparable periods, driving a $59.7 million increase in patient service revenue. This revenue growth was constrained in part by approximately $4.1 million of incremental implicit price concessions associated with accounts receivable in our legacy billing system as the Company transitioned its billing and collection efforts to a new billing system in the fourth quarter of 2023. For the three months ended March 31, 2024, cost of revenue increased $76.4 million, or 27.4%, which was primarily driven by higher drug and medical supply costs. Cost of revenue also includes equity-based compensation of $13.3 million for the quarter ended March 31, 2024, with no such costs incurred during the comparable ye
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839998/000183999824000038/0001839998-24-000038-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.