agilon health inc
For the period ended Feb 27, 2024. Filed Feb 27, 2024.
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Feb 27, 2024 · Filed Feb 27, 2024
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Contents
EX-99.1 · ADJUSTED EBITDA
ADJUSTED EBITDA
| Three Months EndedDecember 31, | Twelve Months EndedDecember 31, | |||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Net income (loss)(1) | $(230,484) | $(56,549) | $(262,803) | $(106,864) |
| (Income) loss from discontinued operations, net of income taxes | 63,345 | 12,146 | 67,550 | 14,554 |
| Interest expense | 1,993 | 1,668 | 6,658 | 4,484 |
| Income tax expense (benefit) | 267 | 572 | 791 | 1,640 |
| Depreciation and amortization | 4,735 | 2,686 | 16,043 | 8,949 |
| (Gain) loss on lease terminations | — | — | — | 5,458 |
| Severance and related costs(2) | — | — | 188 | 2,470 |
| Stock-based compensation expense | 15,676 | 9,873 | 69,326 | 28,069 |
| EBITDA adjustments related to equity method investments(3) | 14,268 | 749 | 22,694 | 3,737 |
| Other(4) | (6,861) | (3,381) | (15,448) | (7,967) |
| Adjusted EBITDA | $(137,061) | $(32,236) | $(95,001) | $(45,470) |
(1)Includes direct geography entry costs, including investments to develop and expand our platform and costs in geographies that are in implementation and are not yet generating revenue and investments to grow existing markets. For the three months ended December 31, 2023 and 2022, (i)$13.5 million and $13.0 million, respectively, are included in other medical expenses and (ii) $12.2 million and $19.4 million, respectively, are included in general and administrative expenses. For the twelve months ended December 31, 2023 and 2022, (i)$33.7 million and $23.9 million, respectively, are included in other medical expenses and (ii) $40.8 million and $43.9 million, respectively, are included in general and administrative expenses.
(2)For the year ended December 31, 2022, includes taxes and related costs on stock option exercises for departed executives of $2.0 million.
(3)The three and twelve months ended December 31, 2023 includes $15.2 million of physician compensation expenses to reduce the physician partners’ compensation percentage in current and future years in exchange for the Company’s common stock.
(4)Includes interest income and transaction-related costs.
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