1Life Healthcare Inc (ONEM) 10-Q Quarterly Report August 2020

SAN FRANCISCO – August 12, 2020 – 1Life Healthcare, Inc. (One Medical) (Nasdaq: ONEM) today announced financial results for the second quarter ended June 30, 2020.

“Our human-centered and technology-powered model is delivering longitudinal care across digital and in-person settings, delighting members with better health and better care while reducing costs,” said Amir Dan Rubin, Chair & CEO of One Medical. “We continued to show the power of our model in Q2, delivering record membership additions, supporting employers through digital health combined with in-person care and testing, expanding into new markets, and growing our partnerships with leading health networks.”

Financial Highlights for the Second Quarter 2020

All comparisons, unless otherwise noted, are to the three months ended June 30, 2019.

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Membership count as of quarter-end was 475,000 compared to 379,000, a 25% increase.

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Net Revenue was $78.0 million compared to $66.2 million, an 18% increase.

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Care Margin was $24.6 million, or 31% of total net revenue; Loss from Operations was $28.7 million, or 37% of total net revenue.

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Adjusted EBITDA was a loss of $15.2 million, or 19% of total net revenue; Net Loss was $30.3 million, or 39% of total net revenue.

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Cash and Short-term Marketable Securities as of quarter-end were $664.4 million.

Financial Outlook

One Medical provides forward-looking guidance on membership count, total net revenue, care margin, and adjusted EBITDA. Care margin and adjusted EBITDA are non-GAAP measures.

For the third quarter of 2020, we expect:

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Ending Membership count in the range of 486,000 to 496,000;

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Total Net Revenue in the range of $84.0 million to $89.0 million;

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Care Margin in the range of $26.0 million to $31.0 million; and

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Adjusted EBITDA in the range of a loss of $12.0 million to a loss of $7.0 million.

For the full year of 2020, we expect:

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Ending Membership count in the range of 505,000 to 515,000.

Management has not provided net revenue, care margin, or adjusted EBITDA guidance for the full year of 2020 because of uncertainties around the duration and extent of the continued COVID-19 pandemic and related community self-isolation practices and any impact that these two items may have on the company’s financial performance for full year 2020.

Management has not reconciled forward-looking non-GAAP care margin and adjusted EBITDA to their most directly comparable GAAP measures of loss from operations and net loss, respectively. This is because we cannot predict with reasonable certainty the ultimate outcome of certain GAAP components of such reconciliations, including market-related assumptions that are not within our control, or others that may arise, without unreasonable effort. For these reasons, we are unable to assess the probable significance of the unavailable information, which could

The following information was filed by 1Life Healthcare Inc (ONEM) on Wednesday, August 12, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

1Life Healthcare Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: ONEM
CIK: 1404123
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-040010
Submitted to the SEC: Thu Aug 13 2020 4:06:56 PM EST
Accepted by the SEC: Thu Aug 13 2020
Period: Tuesday, June 30, 2020
Industry: Offices And Clinics Of Doctors Of Medicine