#United States #California #Astrana Health #Alhambra #NASDAQ: ASTH

Astrana Health, Inc. Reports Fourth Quarter and Year-End 2024 Results

Astrana Health, Inc., a prominent healthcare provider based in Alhambra, California, recently announced its significant financial results for the fourth quarter and the entire year ending December 31, 2024. The company, trading under the NASDAQ ticker "ASTH," has demonstrated robust growth and expansion within its sector.

Financial Highlights for 2024

In 2024, Astrana reported an impressive total revenue of $2.034 billion, a staggering 47% increase compared to the previous year's $1.386 billion. This growth reflects the strength of the company's provider-centric and technology-driven platform that facilitates high-quality care for patients across various demographics. Notably, the Care Partners revenue skyrocketed by 52%, reaching nearly $1.949 billion from $1.284 billion.

However, the company did face challenges, as net income attributable to Astrana was recorded at $43.1 million, down from $60.7 million in 2023. The diluted earnings per share also experienced a decline, dropping to $0.90 from $1.29 a year prior. The adjusted EBITDA showed a growth of 16%, amounting to $170.4 million compared to $146.6 million in 2023, indicating improved operational efficiency.

Fourth Quarter Performance

For the fourth quarter of 2024, Astrana revealed total revenue of $665.2 million, reflecting an impressive 88% increase from the previous year's $353 million. However, the company reported a net loss of $7 million, contrasting with a net income of $12.4 million the previous year. The loss was reflected in the earnings per share, which fell to $(0.15), compared to $0.26 a year earlier. The adjusted EBITDA for Q4 stood at $35 million, showing a 21% increase from the previous year's $29 million.

Key Operational Developments

One of the noteworthy partnerships initiated in late 2024 is with Provider HealthLink (PHL), which is anticipated to serve approximately 10,000 Medicare Advantage members. This collaboration is expected to bolster Astrana’s commitment to expanding its Care Enablement platform in the initial half of 2025.

Additionally, in February 2025, the company secured a significant amendment to its credit agreement with Truist Bank. This agreement includes a revolving credit facility of $300 million, which is intended for refinancing existing debts and supporting general corporate purposes. The company’s strategic financial maneuvers reflect its focus on sustainable growth and operational leverage.

Furthermore, eight affiliates of Astrana achieved elite status in the 2024 Standards of Excellence survey, conducted by America's Physician Groups. This recognition underscores the company's dedication to delivering coordinated, patient-centered medical care effectively.

Looking Ahead to 2025

With an eye on the future, Astrana Health provided guidance for 2025, forecasting total revenue between $2.5 billion to $2.7 billion, alongside an expected adjusted EBITDA of $170 million to $190 million. This outlook factors in ongoing investments in automation and artificial intelligence, which are aimed at optimizing operational efficiency and enhancing patient care.

As Astrana Health continues its mission to empower healthcare providers and deliver accessible, high-quality care, it remains a significant player in the evolving health ecosystem. The management's focus on growth capability, cost management, and strategic acquisitions indicates a promising trajectory for stakeholders, including patients, healthcare providers, and shareholders alike.

For more details regarding Astrana Health's latest financial results and strategic initiatives, please follow their official communications and upcoming conference calls, scheduled periodically throughout the year.