ASTH
Astrana Health, Inc.22.31
+0.01+0.04%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Granular 2026 EBITDA bridge detailed
Q&A unpacked the wide 2026 EBITDA guide ($250M-$280M) with a detailed bridge from $205M: high-single-digit Prospect synergies, mid-$20M full-risk ramps, and tens of millions MA rate tailwinds offset $20M+ Medicaid headwinds from 10-15% disenrollments and 1-1.5% rate-acuity gaps. Cost trends tick to just over 5% conservatively, with MA lower than Medicaid/commercial. Management pegged 2027 MA rates at +2.5-3% benefit versus flat industry, citing minimal exposure to disallowed diagnoses. Prospect skews 90% risk-based with 97% PCP retention; AI specifics target auths, claims, and care continuity for G&A leverage. Headwinds stack heavily on the low end. Watch Medicaid churn and Prospect AWV gains.
Key Stats
Market Cap
1.12BP/E (TTM)
117.42Basic EPS (TTM)
0.19Dividend Yield
0%Recent Filings
8-K
Updated investor presentation released
Astrana Health updated its corporate presentation on March 4, 2026, under Regulation FD, highlighting the Prospect acquisition that boosted value-based membership to 1.6 million. It projects 2026 revenue of $3.8B-$4.1B and Adjusted EBITDA of $250M-$280M while advancing to 80% full-risk revenue by Q1 2026 end. Prospect synergies hit high end of $12-15M range. Forward-looking statements carry risks.
8-K
Doubles buyback to $100M
Astrana Health reported 2025 revenue of $3,181.8 million, up 56% year-over-year, with adjusted EBITDA at $205.4 million. Board doubled share repurchase authorization to $100 million; $35.9 million remained available as of year-end after buying 633,844 shares in Q4. Material weakness in acquisition accounting delays 10-K filing, but results hold firm. Repurchases signal confidence.
8-K
Reiterates strong FY25 guidance
Astrana Health updated its corporate presentation on January 12, 2026, for investor meetings, reiterating FY2025 guidance of $3,100–$3,180M revenue and $200–$210M Adjusted EBITDA despite Q3 net income dipping to $1.1M. Q3 revenue doubled to $956M, driven by 97% Care Partners growth, while Prospect integration hits pro forma net debt/EBITDA of ~2.5x early. Synergies on track.
10-Q
Q3 FY2025 results
Astrana Health doubled Q3 revenue to $956M (y/y +100%), driven by the July 1 Prospect acquisition adding $308M, with capitation surging 100% y/y while Care Partners operating income dipped 35% y/y to $25M on a $13M CFC arbitration charge. Operating income fell 32% y/y to $19M yet margins held amid integration; net income slid to $0.4M from $16M, mainly higher interest ($18M, up 100% y/y) on $1.1B debt (5.91% rate, due 2030). Cash swelled to $462M on $117M YTD operating cash flow, revolver availability solid. Prospect closed for $675M (cash/debt), recognizing $442M goodwill and $194M intangibles (12-15 years). Revenue relies heavily on two payers.
8-K
Q3 revenue doubles to $956M
Astrana Health reported Q3 revenue doubling to $956M from $479M, fueled by the Prospect Health acquisition closed July 1, while adjusted EBITDA hit $68.5M at guidance's high end. Prospect outperformed expectations in its first combined quarter, yet net income dipped to $0.4M amid higher interest costs. Full-year guidance tightened to $3.1-3.18B revenue, $200-210M adjusted EBITDA, reflecting full-risk contract delays into Q1 2026. Integration drives scale.
IPO
Employees
Sector
Industry
AGL
agilon health, inc.
0.67+0.01
AONC
American Oncology Network, Inc.
11.12+0.00
ARDT
Ardent Health, Inc.
8.93+0.03
AUNA
Auna SA
4.55-0.01
EHSI
Elite Health Systems, Inc.
1.31-0.14
HCA
HCA Healthcare, Inc.
469.79-7.19
MOH
Molina Healthcare Inc
160.88-5.62
NEUE
NeueHealth, Inc.
6.75+0.00
NUTX
Nutex Health Inc.
171.72-4.06
PIII
P3 Health Partners Inc.
4.59-0.36