Strong Revenue Growth
Total revenue for Q1 2025 was $927 million, representing a 47% year-over-year growth, surpassing the high-end of guidance.
Health Plan Membership Increase
Health plan membership grew to 217,500, reflecting approximately 32% growth year-over-year.
Margin Expansion and EBITDA Performance
Adjusted gross profit of $107 million grew 87% year-over-year, with a consolidated MBR of 88.4% improving by 250 basis points. Adjusted EBITDA was $20 million, resulting in a 410 basis point margin expansion year-over-year.
Guidance Increase
The company raised the midpoint of its guidance ranges across its four key metrics, reflecting strong growth momentum and performance.
Strategic Leadership Transition
Jim Head will succeed Thomas Freeman as CFO, bringing over 30 years of experience, as Thomas transitions to a Strategic Advisor role.