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Sep 30, 2024
agilon health Q3 2024 Earnings Report
agilon health reported Q3 2024 results, with revenue increasing by 28% and Medicare Advantage membership growing by 37%.
Key Takeaways
agilon health's Q3 2024 results showed revenue growth of 28% to $1.45 billion and a 37% increase in Medicare Advantage membership to 525,000. However, the quarter was negatively impacted by lower-than-expected risk adjustment, prior year development, and higher medical expenses. The company is taking actions to strengthen execution and manage the challenging Medicare Advantage environment.
Total revenue increased 28% year-over-year to $1.45 billion, driven by membership growth in new and existing markets.
Medicare Advantage membership increased 37% year-over-year to 525,000 members.
Gross profit was negative $64 million, compared to a positive $37 million in Q3 2023.
Net loss was $118 million, compared to a net loss of $31 million in the same period last year.
Revenue by Segment
Forward Guidance
Guidance below includes results from the third quarter 2024 and updated cost trends for the fourth quarter 2024. Medical margin guidance below includes approximately $100 million of negative prior period development. Guidance for fiscal year 2024 does not reflect the impact of actions the Company is currently undertaking or plans to take before the close of the fiscal year.
Positive Outlook
- Medicare Advantage Members between 526,000 and 528,000
- ACO Model Members between 127,000 and 129,000
- Total Members Live on Platform between 653,000 and 657,000
- Average Medicare Advantage Members between 526,000 and 527,000
- Total Revenues between $1,512 million and $1,527 million
Challenges Ahead
- Medical Margin between $5 million and $35 million
- Adjusted EBITDA between -$85 million and -$65 million
- Geography Entry Costs between $14 million and $10 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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