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Agilon Health, Inc. (AGL) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, December 31, 2023

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Agilon Health, Inc.

HISTORY TOOLS
CIK: 1831097 Ticker: AGL

Exhibit 99.1
imgcover.jpg
agilon health Reports Fourth Quarter 2023 Results
Revenue increased 72% to $1.06 billion in the fourth quarter 2023, Medicare Advantage membership increased 68% to 388,400, and total members on the agilon platform grew to 477,700 as of December 31, 2023
2023 performance impacted by acceleration in medical costs due to macro dynamics, revised 2024 guidance assumes continuation of higher medical cost trends
Executing targeted action plan with focus on measured growth, Class of 2025 expected to add at least 60,000 Medicare Advantage members across 5 physician groups
AUSTIN, T.X., February 27, 2024
 – agilon health, inc. (NYSE: AGL), the trusted partner empowering physicians to transform health care in our communities, announced results for the fourth quarter and fiscal year ended December 31, 2023.
“agilon is navigating through a complex transition period for the Medicare Advantage industry and for our company, and we are taking significant actions to help mitigate the impact of this evolving environment and strengthening our reserves,” said Steve Sell, chief executive officer. “While near-term dynamics are negatively affecting our financial results, demand for our platform and the fundamental drivers of our business remain strong as we continue to deliver significant value to patients, payors, and our PCP partners. We believe we are well positioned to accelerate performance over the medium and long-term.”
Fourth Quarter and Fiscal Year 2023 Results:
•Total members on the agilon platform increased to 477,700 as of December 31, 2023, including 388,400 Medicare Advantage members and 89,300 ACO REACH beneficiaries. Medicare Advantage membership increased 68%, with 11% growth in same geographies.
•Total revenue of $1.06 billion in the fourth quarter 2023 increased 72% compared to $615 million in the fourth quarter 2022. For the fiscal year 2023, total revenue of $4.32 billion increased 81% compared to $2.39 billion in 2022.
•Gross profit of negative $95 million in the fourth quarter 2023 compared to $16 million in the fourth quarter 2022. For the fiscal year 2023, gross profit of $70 million compared to $111 million in 2022. Net loss of $230 million in the fourth quarter 2023 compared to a loss of $57 million in the fourth quarter 2022. For the fiscal year 2023, net loss of $263 million compared to a loss of $107 million in 2022.
•Medical margin of negative $102 million during the fourth quarter 2023, compared to $63 million in the fourth quarter 2022. For the fiscal year 2023, Medical Margin of $299 million, compared to $291 million in 2022. Medical Margin during the fourth quarter 2023 was negatively impacted by accelerating medical costs including prior period development from previous quarters.
•Adjusted EBITDA loss of $137 million in the fourth quarter 2023, compared to an Adjusted EBITDA loss of $32 million in the fourth quarter 2022. For the fiscal year 2023, Adjusted EBITDA loss of $95 million, compared to an Adjusted EBITDA loss of $45 million in the fiscal year 2022.

The following information was filed by Agilon Health, Inc. (AGL) on Tuesday, February 27, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Agilon Health, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Condensed Balance Sheets (Parenthetical)
Consolidated Balance Sheets
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Contingently Redeemable Common Stock And Stockholders??? Equity (Deficit)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Business
Business (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Common Stock
Common Stock (Details)
Concentration Of Credit Risk
Concentration Of Credit Risk (Tables)
Concentration Of Credit Risk - Schedules Of Concentration Of Risk As A Percentage Of Revenues And Receivables (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Term Loan Maturity And Scheduled Principal Repayments (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Narrative (Details)
Discontinued Operations - Summary Of Assets And Liabilities Related To Discontinued Operations (Details)
Discontinued Operations - Summary Of Results Of Discontinued Operations (Details)
Discontinued Operations - Summary Of Significant Non-Cash Operating Items For Discontinued Operations (Details)
Goodwill And Amortizable Intangible Assets
Goodwill And Amortizable Intangible Assets (Tables)
Goodwill And Amortizable Intangible Assets - Narrative (Details)
Goodwill And Amortizable Intangible Assets - Summary Of Amortizable Intangible Assets (Details)
Goodwill And Amortizable Intangible Assets - Summary Of Estimated Annual Amortization (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Components Of Net Deferred Tax Liability (Details)
Income Taxes - Schedule Of Difference Between Taxes Computed The U.S. Statutory Rate And Taxes Recorded (Details)
Income Taxes - Schedule Of Income Tax Expenses (Benefit) (Details)
Income Taxes - Summary Of Unrecognized Tax Benefit (Details)
Leases
Leases (Tables)
Leases - Summary Lease Cost (Details)
Leases - Summary Of Balance Sheet Information Operating Leases Lessee (Details)
Leases - Summary Of Operating Lease (Details)
Leases - Summary Of Weighted Average Discount Rate And Remaining Lease Term Operating Lease (Details)
Leases - Supplemental Cash Flow Information (Details)
Marketable Securities And Fair Value Measurements
Marketable Securities And Fair Value Measurements (Tables)
Marketable Securities And Fair Value Measurements - Narrative (Details)
Marketable Securities And Fair Value Measurements - Summarizes Marketable Securities Maturity (Details)
Marketable Securities And Fair Value Measurements - Summary Of Fair Value Assets Measured On Recurring Basis (Details)
Marketable Securities And Fair Value Measurements - Summary Of Marketable Securities (Details)
Marketable Securities And Fair Value Measurements - Summary Of Marketable Securities, Unrealized Loss Position (Details)
Medical Claims And Related Payables
Medical Claims And Related Payables (Tables)
Medical Claims And Related Payables - Narrative (Details)
Medical Claims And Related Payables - Summary Changes In Medical Claims And Related Payables (Details)
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share (Tables)
Net Income (Loss) Per Common Share - Computation Of Basic And Diluted Eps (Details)
Net Income (Loss) Per Common Share - Schedule Of Antidilutive Securities (Details)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Other Liabilities
Other Liabilities (Tables)
Other Liabilities - Narrative (Details)
Other Liabilities - Summary Of Other Liabilities (Details)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Narrative (Details)
Property And Equipment, Net - Summary Of Property And Equipment (Details)
Related Party Transactions
Related Party Transactions (Details)
Schedule I - Agilon Health, Inc.
Schedule I - Condensed Balance Sheets (Additional Information) (Details)
Schedule I - Condensed Balance Sheets (Details)
Schedule I - Condensed Statements Of Operations (Details)
Schedule I - Description Of Agilon Health, Inc. (Details)
Schedule I - Equity (Details)
Schedule I - Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Summary Of Black-Scholes Option Pricing Model (Details)
Stock-Based Compensation - Summary Of Restricted Stock And Performance Shares (Details)
Stock-Based Compensation - Summary Of Stock Option Award Activity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Summary Of Estimated Useful Lives For Property And Equipment (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Tables)
Supplemental Cash Flow Information - Summary Of Cash, Cash Equivalents And Restricted Cash Equivalents From Continuing Operations (Details)
Supplemental Cash Flow Information - Summary Of Supplemental Cash Flow Information (Details)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Narrative (Details)
Variable Interest Entities - Schedule Of Equity Method Investments (Details)
Variable Interest Entities - Summarized Balance Sheet (Details)
Variable Interest Entities - Summary Of Consolidated Asset And Liabilities Including Vie Assets And Liabilities (Details)
Variable Interest Entities - Summary Of Operating Results (Details)
Ticker: AGL
CIK: 1831097
Form Type: 10-K Annual Report
Accession Number: 0001628280-24-007242
Submitted to the SEC: Tue Feb 27 2024 4:22:45 PM EST
Accepted by the SEC: Tue Feb 27 2024
Period: Sunday, December 31, 2023
Industry: Health And Allied

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