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Dec 31, 2024
agilon health Q4 2024 Earnings Report
agilon health reported its fourth quarter and full year fiscal 2024 results, with significant revenue growth and increased Medicare Advantage membership.
Key Takeaways
agilon health reported a strong fourth quarter in 2024, with total revenue increasing by 44% to $1.52 billion and Medicare Advantage membership growing by 36% to 527,000. Despite continued elevated medical cost trends, the company saw an improvement in gross profit and a reduced net loss compared to the previous year.
Total revenue for Q4 2024 increased by 44% to $1.52 billion compared to Q4 2023.
Medicare Advantage membership grew by 36% year-over-year, reaching 527,000 members.
Gross profit improved to negative $38 million in Q4 2024 from negative $95 million in Q4 2023.
Net loss decreased to $106 million in Q4 2024 from $230 million in Q4 2023.
Revenue by Segment
Forward Guidance
For the full year 2025, agilon health expects total revenues between $5.825 billion and $6.025 billion, with Medicare Advantage members projected to be between 490,000 and 520,000. Adjusted EBITDA is expected to be a loss between $95 million and $55 million.
Positive Outlook
- Class of 2025 expected to add approximately 20,000 Medicare Advantage members.
- Benefits from clinical and operating programs, including improved physician onboarding and quality performance.
- Part D exposure reduced to less than 30% of membership, partially offsetting Inflation Reduction Act impact.
- G&A including network support costs expected to remain essentially flat year-over-year.
- Strategic actions taken to reduce underwriting risks and improve platform capabilities.
Challenges Ahead
- Market partnership and payer contract exits of approximately 54,000 members.
- Elevated medical cost trend experienced in 2024 will continue in 2025, with an estimated gross cost trend of 6.3% and 5.3% net for year 2+ markets.
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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