Astrana Health, Inc. Year-End Results Show Solid Growth
Astrana Health, Inc. Announces Year-End Financial Performance
Astrana Health, Inc. (NASDAQ: ASTH), a leading provider-centric healthcare company, has reported outstanding financial results for the year ending December 31, 2024. Today, the company emphasizes the role of its innovative technology-powered healthcare model in delivering high-quality care.
In a recent statement, Brandon K. Sim, President and CEO, shared insights about the company’s sustained growth trajectory. "Our approach is deeply patient-centered and focuses on ensuring that quality care remains accessible to all, regardless of their insurance plans. We have navigated through various challenges, and our performance reflects our resilience and strategic operational execution," he noted.
Remarkable Financial Highlights
The financial results for the year have been impressive:
- Total revenue reached $2,034.5 million, marking an incredible 47% increase from $1,386.7 million in the previous year.
- Care Partners revenue surged to $1,949.0 million, a stunning rise of 52% compared to $1,284.1 million.
- Despite the growth in revenue, net income attributable to Astrana was reported at $43.1 million, a decrease from $60.7 million in 2023.
- Earnings per share (diluted) registered at $0.90, down from $1.29 the previous year.
- Adjusted EBITDA gained momentum, rising to $170.4 million, a 16% increase from $146.6 million.
Fourth Quarter Highlights
Astrana’s performance in the fourth quarter also showed strong results:
- The company reported total revenue of $665.2 million, up 88% from $353.0 million a year earlier.
- Care Partners revenue increased to $647.7 million, a remarkable 98% growth from $326.8 million.
- However, the fourth quarter reflected a net loss attributable to Astrana of $7.0 million, contrasting with a net income of $12.4 million in Q4 2023.
- The (loss) earnings per share, both basic and diluted, stood at $(0.15), as opposed to $0.26 previously.
- Adjusted EBITDA experienced a 21% increase, amounting to $35.0 million compared to $29.0 million.
Recent Operating Developments
Astrana has made significant strides in expanding its service offerings:
- In late 2024, the company formed a strategic Care Enablement partnership with Provider HealthLink, anticipated to onboard around 10,000 Medicare Advantage members in early 2025.
- A company credit agreement was amended in February 2025, which includes a new five-year revolving credit facility of $300 million.
- Notably, several Astrana affiliates have achieved Elite status in the annual Standards of Excellence survey by America's Physician Groups.
- In January, Astrana repurchased 300,000 shares of its common stock for approximately $10.6 million as part of its stock repurchase agreement.
Performance Segmentation for 2024
Financial Performance by Segment
The company has various operational segments contributing to its overall financial health. Comparing the year-end results reveals:
- The total revenues from Care Partners reflect a solid upward movement, confirming that their operational strategy gives Astrana a competitive edge.
- In addition, the Care Delivery and Care Enablement divisions have shown promising developments, further exemplifying the efficiency of Astrana's integrated care model.
Guidance for 2025
Looking ahead, Astrana has provided guidance for its anticipated financial performance in 2025. The estimates indicate potential total revenue ranging from $2,500 million to $2,700 million, along with Adjusted EBITDA projected between $170 million and $190 million. This guidance takes into account strategic investments in automation and artificial intelligence, setting Astrana on a path toward sustained growth.
Conclusion
As Astrana Health, Inc. continues to evolve with strategic partnerships and operational advancements, stakeholders are optimistic about the company's ability to thrive. The commitment to value-based care allows Astrana to not only enhance profitability but also improve patient outcomes effectively.
Frequently Asked Questions
1. What is Astrana Health, Inc. known for?
Astrana Health, Inc. specializes in technology-driven healthcare solutions to provide quality and accessible care to patients across various settings.
2. What financial achievements did Astrana report?
The company reported a total revenue of $2,034.5 million for the year ending December 31, 2024, showcasing a 47% increase from the previous year.
3. How did Astrana perform in the fourth quarter of 2024?
In Q4 2024, Astrana's total revenue surged to $665.2 million, marking an 88% increase compared to the same quarter in the previous year.
4. What are the expectations for 2025?
Astrana anticipates a revenue range of $2,500 million to $2,700 million and an Adjusted EBITDA between $170 million and $190 million in 2025.
5. How does Astrana Health ensure quality care?
Through partnerships and an integrated care model, Astrana focuses on creating a patient-centric healthcare environment, enhancing both care accessibility and quality.
About The Author
Contact Lucas Young privately here. Or send an email with ATTN: Lucas Young as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
