Astrana Health Files Q2 2024 10-Q

TL;DR

Astrana Health's Q2 2024 10-Q is in. Check financials.

AI Summary

Astrana Health, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Apollo Medical Holdings, Inc., reported on its financial performance and business operations. Key financial data and operational details are presented in this quarterly report.

Why It Matters

This filing provides investors and analysts with the latest financial and operational data for Astrana Health, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — Quarterly reports can reveal significant financial shifts, operational challenges, or strategic changes that impact a company's risk profile.

Key Numbers

• Q2 2024 — Reporting Period (Quarterly financial performance)
• 1231 — Fiscal Year End (Indicates the end of the company's annual accounting period)

Key Players & Entities

• Astrana Health, Inc. (company) — Filer of the 10-Q
• Apollo Medical Holdings, Inc. (company) — Former name of Astrana Health, Inc.
• 2024-06-30 (date) — End of the reporting period
• 20240809 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• asth-20240630.htm (10-Q) — 4074KB
• asth-ex10_10.htm (EX-10.10) — 53KB
• asth-ex31_1.htm (EX-31.1) — 15KB
• asth-ex31_2.htm (EX-31.2) — 15KB
• asth-ex32.htm (EX-32) — 11KB
• img123522986_0.jpg (GRAPHIC) — 35KB
• 0000950170-24-094262.txt ( ) — 18672KB
• asth-20240630.xsd (EX-101.SCH) — 1913KB
• asth-20240630_htm.xml (XML) — 4659KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 45 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 59 Item 4.

Controls and Procedures

Controls and Procedures 59 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 60 Item 1A.

Risk Factors

Risk Factors 60 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 61 Item 3. Defaults Upon Senior Securities 61 Item 4. Mine Safety Disclosures 61 Item 5. Other Information 61 Item 6. Exhibits 62 2 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.) 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 PCCCV Primary Community Care of Central Valley, Inc. PMIOC Pacific Medical Imaging and Oncology Center, Inc. Sun Labs Sun Clinical Labs VIE Variable Interest Entity 3 INTRODUC TORY 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, Inc., a Delaware corporation ("Astrana"), and it

- FINA NCIAL INFORMATION

PART I - FINA NCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ASTRANA HEALTH, INC. CONDENSED CONSOLIDATE D BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) 6 June 30, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 325,310 $ 293,807 Investment in marketable securities 2,383 2,498 Receivables, net 132,323 76,780 Receivables, net – related parties 69,269 58,980 Income taxes receivable 22,005 10,657 Other receivables 1,642 1,335 Prepaid expenses and other current assets 17,417 17,450 Total current assets 570,349 461,507 Non-current assets Land, property and equipment, net 10,305 7,171 Intangible assets, net 116,231 71,648 Goodwill 409,581 278,831 Income taxes receivable 15,943 15,943 Loans receivable, non-current 49,163 26,473 Investments in other entities – equity method 33,276 25,774 Investments in privately held entities 8,896 6,396 Restricted cash 646 345 Operating lease right-of-use assets 28,792 37,396 Other assets 9,289 1,877 Total non-current assets 682,122 471,854 Total assets (1) $ 1,252,471 $ 933,361 Liabilities, mezzanine equity and equity Current liabilities Accounts payable and accrued expenses $ 95,757 $ 59,949 Fiduciary accounts payable 7,321 7,737 Medical liabilities 151,482 106,657 Dividend payable 638 638 Finance lease liabilities 591 646 Operating lease liabilities 4,884 4,607 Current portion of long-term debt 17,000 19,500 Other liabilities 32,152 18,940 Total current liabilities 309,825 218,674 Non-current liabilities Deferred tax liability 3,250 4,072 Finance lease liabilities, net of current portion 879 1,033 Operating lease liabilities, net of current portion 27,092 36,289 Long-term debt, net of current portion and deferred financing costs 425,006 258,939 Other long-term

View Full Filing

View this 10-Q filing on SEC EDGAR