Strong New Provider Signings and Growth
Implemented Provider growth of 13.8% and value-based lives attribution growth of 15.2% year-over-year helped drive total Practice Collections growth of 18.5% in the second quarter.
Financial Performance Exceeds Expectations
Adjusted EBITDA increased 31.6%, with EBITDA margin as a percentage of Care Margin expanding 310 basis points. The company raised its 2025 outlook to above the high end of initial guidance ranges for several key metrics.
Cash Position and Financial Flexibility
Ended the second quarter with more than $390 million in cash and no debt. Expecting to end the year with more than $450 million in cash, providing significant financial flexibility.
Broad-Based Market Growth
The company serves 1.38 million attributed lives across over 100 commercial and government value-based care programs, with new provider growth and entry into Arizona contributing to a 15.2% increase in total attributed lives.
Positive Shared Savings Contribution
Shared savings revenue came in better than expectations, contributing positively to care margin and EBITDA.