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Agilon Health, Inc. (AGL) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

Agilon Health, Inc.

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CIK: 1831097 Ticker: AGL


 

Exhibit 99.1

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agilon health Reports Fourth Quarter and Fiscal Year 2022 Results

Revenue increased 49% to $690 million, Medicare Advantage membership increased 45% to 269,500, and Medical Margin increased 93% to $61 million during the fourth quarter

 

Guidance for 2023 includes significant gains in Adjusted EBITDA to $75 million to $90 million while maintaining strong revenue and membership growth1

 

Class of 2024 new partners expected to add at least 80,000 Medicare Advantage members across 6 physician groups, driving growth of over 130,000 new Medicare Advantage members in 2024

 

Acquisition of mphrX enables faster onboarding of agilon physician partners and rapid integration of clinical data, accelerating performance and speed to value

 

 

AUSTIN, T.X., March 1, 2023

– 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, 2022.

Fourth Quarter and Fiscal Year 2022 Results:

•
Total revenue of $690 million increased 49% during the fourth quarter compared to $463 million in the fourth quarter 2021. For the fiscal year 2022, total revenue of $2.71 billion increased 48% compared to $1.83 billion in the comparable 2021 period.
•
Total members live on the agilon platform increased to 358,600 as of December 31, including 269,500 Medicare Advantage members and 89,000 Direct Contracting beneficiaries. Medicare Advantage membership increased 45%, with 13% growth in same geographies.
•
Medical margin of $61 million increased 93% during the fourth quarter compared to $31 million in the fourth quarter 2021. For the fiscal year 2022, medical margin of $305 million increased 67% compared to $182 million in 2021. Medical margin represented 8.8% of revenue during the fourth quarter and 11.2% for the fiscal year 2022, compared to 6.8% and 9.9% of revenue in the fourth quarter and full year 2021, respectively.
•
Net loss of $57 million in the fourth quarter, compared to a net loss of $57 million in fourth quarter 2021. For the fiscal year 2022, net loss of $107 million compared to a net loss of $407 million in 2021. Net loss for the fiscal year 2021 includes $292 million in non-cash stock-based compensation expense primarily related to agilon’s initial public offering in April 2021.
•
Adjusted EBITDA of negative $11 million in the fourth quarter compared to negative $27 million during the fourth quarter 2021. For the fiscal year 2022, Adjusted EBITDA of positive $4 million compared to negative $39 million in the comparable 2021 period. Adjusted EBITDA contribution from Direct Contracting was $8 million during the fourth quarter 2022 and $14 million for the for the fiscal year 2022.

 

“Our strong results in 2022 demonstrate the power of our aligned partnership model to drive consistently better outcomes for patients and physicians,” said Steve Sell, chief executive officer. “We are entering 2023 with incredible momentum and the Class of 2024 new partners will expand our national network to 2,700 primary care physicians and 30+ communities.”

 

 

The following information was filed by Agilon Health, Inc. (AGL) on Wednesday, March 1, 2023 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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Agilon Health, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:

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

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Contingently Redeemable Common Stock And Stockholders Equity
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Business
Business - Additional Information (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Schedule Of Commitments And Contingencies (Detail)
Common Stock
Common Stock - Additional Information (Details)
Concentration Credit Risk
Concentration Credit Risk (Tables)
Concentration Credit Risk - Schedules Of Concentration Of Risk As A Percentage Of Revenues And Receivables (Details)
Concentration Credit Risk - Schedules Of Concentration Of Risk As A Percentage Of Revenues And Receivables (Parenthetical) (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Schedule Of Term Loan Maturity And Scheduled Principal Repayments (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Detail)
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 - Additional Information (Detail)
Goodwill And Amortizable Intangible Assets - Summary Of Amortizable Intangible Assets (Detail)
Goodwill And Amortizable Intangible Assets - Summary Of Annual Amortization (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Schedule Of Components Of Net Deferred Tax Liability (Detail)
Income Taxes - Schedule Of Difference Between Taxes Computed The U.S. Statutory Rate And Taxes Recorded (Details)
Income Taxes - Schedule Of Difference Between Taxes Computed The U.S. Statutory Rate And Taxes Recorded (Parenthetical) (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 (Detail)
Leases - Summary Of Balance Sheet Information Operating Leases Lessee (Detail)
Leases - Summary Of Operating Lease (Detail)
Leases - Summary Of Weighted Average Discount Rate And Remaining Lease Term Operating Lease (Detail)
Leases - Supplemental Cash Flow Information (Details)
Marketable Securities And Fair Value Measurements
Marketable Securities And Fair Value Measurements (Additional Information) (Details)
Marketable Securities And Fair Value Measurements (Details)
Marketable Securities And Fair Value Measurements (Tables)
Marketable Securities And Fair Value Measurements - Fair Value Measurements (Details)
Marketable Securities And Fair Value Measurements - Summarizes Of Marketable Securities Maturity (Details)
Medical Claims And Related Payables
Medical Claims And Related Payables (Tables)
Medical Claims And Related Payables - Additional Information (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 - Summary Of Weighted-Average Potential Shares Of Common Stock Were Excluded From Calculation Of Diluted Net Income (Loss) Per Share Attributable To Common Stockholders (Details)
Other Assets
Other Assets (Tables)
Other Assets - Additional Information (Details)
Other Assets - Schedule Of Other Assets (Detail)
Other Liabilities
Other Liabilities (Tables)
Other Liabilities - Additional Information (Details)
Other Liabilities - Summary Of Other Liabilities (Details)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Detail)
Property And Equipment, Net - Summary Of Estimated Useful Lives For Property And Equipment (Detail)
Related Party Transactions
Related Party Transactions - Additional Information (Detail)
Schedule I - Agilon Health, Inc.
Schedule I - Condensed Balance Sheets (Details)
Schedule I - Condensed Balance Sheets (Parenthetical) (Details)
Schedule I - Condensed Statements Of Operations (Details)
Schedule I - Description Of Agilon Health, Inc. (Detail)
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 - Additional Information (Details)
Stock-Based Compensation - Summary Of Black-Scholes Option Pricing Model (Details)
Stock-Based Compensation - Summary Of Outstanding Base Options Consisted (Details)
Stock-Based Compensation - Summary Of Physician Partners Equity (Details)
Stock-Based Compensation - Summary Of Stock 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 - Additional Information (Details)
Summary Of Significant Accounting Policies - Summary Of Estimated Useful Lives For Property And Equipment (Detail)
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 - Additional Information (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 Include Vie Assets And Liabilities (Details)
Variable Interest Entities - Summary Of Operating Results (Details)
Variable Interest Entities - Summary Of Operating Results (Parenthetical) (Details)
Ticker: AGL
CIK: 1831097
Form Type: 10-K Annual Report
Accession Number: 0000950170-23-005541
Submitted to the SEC: Wed Mar 01 2023 4:16:52 PM EST
Accepted by the SEC: Wed Mar 01 2023
Period: Saturday, December 31, 2022
Industry: Health And Allied

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