Astrana Health, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Astrana Health, Inc. filed its Q1 2024 10-Q report detailing financial performance and corporate structure.</b>

AI Summary

Astrana Health, Inc. (ASTH) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Astrana Health, Inc. reported financial results for the quarter ended March 31, 2024. The company's former names include Apollo Medical Holdings, Inc. and SICLONE INDUSTRIES INC. Key segments include HealthCare Capitation Revenue, HealthCare Other, Management Service, and HealthCare Patient Service. The filing details various equity components including Common Stock, Additional Paid In Capital, and Retained Earnings as of March 31, 2024. The company is incorporated in Delaware and its fiscal year ends on December 31.

Why It Matters

For investors and stakeholders tracking Astrana Health, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Astrana Health, Inc., crucial for understanding its current operational health and strategic direction. The inclusion of former company names and incorporation details offers historical context and aids in identifying the entity within broader financial databases.

Risk Assessment

Risk Level: medium — Astrana Health, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, which provides a routine update on financial performance and does not contain significant new risks or disclosures that would elevate the risk level beyond medium.

Analyst Insight

Review the detailed segment revenues and year-over-year growth to assess operational performance and identify key drivers of financial results.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed period of report)
• 2024-05-09 — Filing Date (Filed as of date)
• 1231 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• Astrana Health, Inc. (company) — Filer name
• Apollo Medical Holdings, Inc. (company) — Former company name
• SICLONE INDUSTRIES INC (company) — Former company name
• DE (jurisdiction) — State of incorporation

FAQ

Industry Context

Astrana Health operates within the healthcare services sector, likely focusing on managed care, physician services, or related administrative functions.

Regulatory Implications

As a publicly traded company, Astrana Health is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to disclose financial and operational information.

What Investors Should Do

1. Analyze the revenue breakdown by segment to understand the primary sources of income and their respective growth trends.
2. Examine changes in equity accounts (Common Stock, Additional Paid In Capital, Retained Earnings) for insights into capital structure and profitability.
3. Review any disclosed risk factors or management discussion sections for potential operational or financial challenges.

Key Dates

• 2024-03-31: Quarterly Period End — Financial results for this period are reported.
• 2024-05-09: Filing Date — The 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the period ending March 31, 2024, and thus represents a new reporting period compared to previous filings.

Key Financial Figures

• $0.001 — nge on Which Registered Common Stock, $0.001 par value per share ASTH The Nasdaq S

Filing Documents

• asth-20240331.htm (10-Q) — 1674KB
• exhibit1021-independentc.htm (EX-10.21) — 35KB
• ex3122024033110-q.htm (EX-31.1) — 11KB
• ex3112024033110-q.htm (EX-31.2) — 11KB
• ex322024033110-q.htm (EX-32) — 8KB
• asth-20240331_g1.jpg (GRAPHIC) — 35KB
• exhibit1021-independentc001.jpg (GRAPHIC) — 220KB
• exhibit1021-independentc002.jpg (GRAPHIC) — 273KB
• exhibit1021-independentc003.jpg (GRAPHIC) — 304KB
• exhibit1021-independentc004.jpg (GRAPHIC) — 250KB
• exhibit1021-independentc005.jpg (GRAPHIC) — 262KB
• exhibit1021-independentc006.jpg (GRAPHIC) — 256KB
• exhibit1021-independentc007.jpg (GRAPHIC) — 257KB
• exhibit1021-independentc008.jpg (GRAPHIC) — 242KB
• exhibit1021-independentc009.jpg (GRAPHIC) — 87KB
• exhibit1021-independentc010.jpg (GRAPHIC) — 49KB
• exhibit1021-independentc011.jpg (GRAPHIC) — 41KB
• 0001628280-24-022272.txt (&nbsp;) — 14208KB
• asth-20240331.xsd (EX-101.SCH) — 82KB
• asth-20240331_cal.xml (EX-101.CAL) — 137KB
• asth-20240331_def.xml (EX-101.DEF) — 418KB
• asth-20240331_lab.xml (EX-101.LAB) — 930KB
• asth-20240331_pre.xml (EX-101.PRE) — 683KB
• asth-20240331_htm.xml (XML) — 1786KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 41 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 52 Item 4.

Controls and Procedures

Controls and Procedures 52 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 53 Item 1A.

Risk Factors

Risk Factors 53 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 53 Item 3. Defaults Upon Senior Securities 55 Item 4. Mine Safety Disclosures 55 Item 5. Other Information 55 Item 6. Exhibits 55 3 Glossary The following abbreviations or acronyms that may be used in this document shall have the adjacent meanings set forth below: AAMG All-American Medical Group ACO REACH ACO Realizing Equity, Access, and Community Health ADSC Advanced Diagnostic and Surgical Center, Inc. AHMC AHMC Healthcare Inc. AHMS Advanced Health Management Systems, L.P. AHM Astrana Health Management, Inc. (f/k/a Network Medical Management Inc.) AIPBP All-Inclusive Population-Based Payments APAACO APA ACO, Inc. APC Allied Physicians of California, a Professional Medical Corporation APC-LSMA APC-LSMA Designated Shareholder Medical Corporation Astrana Astrana Health Inc. (f/k/a Apollo Medical Holdings, Inc.) Astrana Medical Astrana Health Medical Corporation (f/k/a AP-AMH Medical Corporation) Astrana Care Partners Medical Astrana Care Partners Medical Corporation (f/k/a AP - AMH 2 Medical Corporation) CAIPA MSO CAIPA MSO, LLC CFC Community Family Care Medical Group IPA, Inc. CMS Centers for Medicare & Medicaid Services DMHC California Department of Managed Health Care DMG Diagnostic Medical Group of Southern California HSMSO Health Source MSO Inc., a California corporation IPA Independent Practice Association Jade Jade Health Care Medical Group, Inc. LMA LaSalle Medical Associates NGACO Next Generation Accountable Care Organization Prime Community Care Primary Community Care of Central Valley, Inc. PMIOC Pacific Medical Imaging and Oncology Center, Inc. Sun Labs Sun Clinical Labs VIE Variable Interest Entity 4 INTRODUCTORY NOTE Unless the context dictates otherwise, references in this Quarterly Report on Form 10-Q to the "Company," "we," "us," "our," and similar words are references to Astrana Health, In

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ASTRANA HEALTH, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) March 31, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 334,796 $ 293,807 Investment in marketable securities 2,490 2,498 Receivables, net 120,106 76,780 Receivables, net – related parties 62,354 58,980 Income taxes receivable — 10,657 Other receivables 1,783 1,335 Prepaid expenses and other current assets 17,281 17,450 Total current assets 538,810 461,507 Non-current assets Land, property and equipment, net 7,985 7,171 Intangible assets, net 119,707 71,648 Goodwill 410,267 278,831 Income taxes receivable 15,943 15,943 Loans receivable, non-current 47,412 26,473 Investments in other entities – equity method 35,893 25,774 Investments in privately held entities 6,396 6,396 Restricted cash 645 345 Operating lease right-of-use assets 39,152 37,396 Other assets 4,067 1,877 Total non-current assets 687,467 471,854 Total assets (1) $ 1,226,277 $ 933,361 Liabilities, mezzanine equity and equity Current liabilities Accounts payable and accrued expenses 146,473 59,949 Fiduciary accounts payable 7,792 7,737 Medical liabilities 136,494 106,657 Income taxes payable 5,522 — Dividend payable 638 638 6 March 31, 2024 December 31, 2023 (Unaudited) Finance lease liabilities 636 646 Operating lease liabilities 5,007 4,607 Current portion of long-term debt 20,750 19,500 Other liabilities 31,960 18,940 Total current liabilities 355,272 218,674 Non-current liabilities Deferred tax liability 3,756 4,072 Finance lease liabilities, net of current portion 1,015 1,033 Operating lease liabilities, net of current portion 37,716 36,289 Long-term debt, net of current portion and deferred financing costs 368,448 258,939 Other long-term liabilities 7,652 3,586 Total non-current liabilities 418,587 303,919 Total liabilities (1) 773,859

View Full Filing

View this 10-Q filing on SEC EDGAR