CareMax reports Q2 adjusted EBITDA ($11.2M) vs. $7.0M last year.

Reports Q2 revenue $198.6M, consensus $221.4M. Reports Q2: Total membership of 236,500, down 13% year-over-year; Medicare Advantage membership of 104,000, up 1% year-over-year. “Although our medical expense ratio continued to run higher than target levels, we were able to manage toward another quarter of sequential improvement in MER in the second quarter, and we continued to make progress against our clinical initiatives,” said Carlos de Solo, CEO. “Additionally, in July, we entered an agreement to access additional capital from our lenders and further extend the limited waiver of certain financial covenants in our credit facility. This funding will assist in bridging our liquidity as we continue to evaluate strategic alternatives for our business.”