Apollo Medical Holdings, Inc. Reports Second Quarter 2023 Results Company to Host Conference Call on Monday

Apollo Medical Holdings, Inc. Reports Second

Quarter 2023 Results

Company to Host Conference Call on Monday,

August 7, 2023, at 2:30 p.m. PT/5:30 p.m. ET

ALHAMBRA, Calif., August 7, 2023 /PRNewswire/

-- Apollo Medical Holdings, Inc. ("ApolloMed," and together with its subsidiaries and affiliated entities, the "Company")

(NASDAQ: AMEH), a leading physician-centric, technology-powered healthcare company focused on enabling providers in the successful delivery

of value-based care, today announced its consolidated financial results for the second quarter ended June 30, 2023.

Brandon Sim, Co-Chief Executive Officer of ApolloMed,

stated, "Our strong second quarter performance reflects the sustained momentum and scalability of the ApolloMed model, with revenue

up 29%, net income attributable to ApolloMed up 10%, and adjusted EBITDA up 44% compared to a year ago. We remain focused on our three

key operational goals of growing our membership, empowering our providers, and improving patient outcomes, and we continue to drive meaningful

progress in all three areas in California, Nevada, Texas, and beyond."

"We want to thank our providers and teammates

for their hard work and dedication that resulted in our continued solid financial performance in the second quarter of 2023 and our confidence

in reiterating our previously provided guidance for full-year 2023."

Financial Highlights for Second Quarter Ended

All comparisons are to the quarter ended June

30, 2022 unless otherwise stated.

Financial Highlights for Six Months Ended

All comparisons are to the six months ended June 30, 2022 unless

Recent Operating Highlights Subsequent to

the End of the Second Quarter:

Segment Results for the Second Quarter Ended

(1) Balance includes general and administrative

expenses and depreciation and amortization.

(2) Income from operations for the

intersegment elimination represents rental income from segments renting from other segments. Rental income is presented within other

income which is not presented in the table.

ApolloMed is reiterating the following guidance

for total revenue, net income, EBITDA, Adjusted EBITDA, and EPS - diluted, based on the Company's existing business, current view

of existing market conditions and assumptions for the year ending December 31, 2023.

See "Guidance Reconciliation of Net Income

to EBITDA and Adjusted EBITDA" and "Use of Non-GAAP Financial Measures" below for additional information. There can

be no assurance that actual amounts will not be materially higher or lower than these expectations. See "Forward-Looking Statements"

below for additional information.

Conference Call and Webcast Information:

ApolloMed will host a conference call at 2:30

p.m. PT/5:30 p.m. ET today (Monday, August 7, 2023), during which management will discuss the results of the second quarter ended

June 30, 2023. To participate in the conference call, please use the following dial-in numbers about 5 minutes prior to the scheduled

conference call time:

The conference call can also be accessed via webcast at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=SC6cioUx.

An accompanying slide presentation will be available

in PDF format on the "IR Calendar" page of the Company's website (https://www.apollomed.net/investors/news-events/ir-calendar)

after issuance of the earnings release and will be furnished as an exhibit to ApolloMed's current report on Form 8-K to be filed

with the SEC, accessible at www.sec.gov.

Those who are unable to attend the live conference

call may access the recording at the above webcast link, which will be made available shortly after the conclusion of the call.

Note About Consolidated Entities

The Company consolidates entities in which it

has a controlling financial interest. The Company consolidates subsidiaries in which it holds, directly or indirectly, more than 50%

of the voting rights, and VIEs in which the Company is the primary beneficiary. Noncontrolling interests represent third party equity

ownership interests in the Company's consolidated entities (including certain VIEs). The amount of net income attributable to noncontrolling

interests is disclosed in the Company's consolidated statements of income.

Note About Stockholders' Equity,

Certain Treasury Stock and Earnings Per Share

As of the date of this press release, 140,954

holdback shares have not been issued to certain former shareholders of the Company's subsidiary, Network Medical Management, Inc.

("NMM"), who were NMM shareholders at the time of closing of the merger, as they have yet to submit properly completed letters

of transmittal to ApolloMed in order to receive their pro rata portion of ApolloMed's common stock and warrants as contemplated

under that certain Agreement and Plan of Merger, dated December 21, 2016, among ApolloMed, NMM, Apollo Acquisition Corp. ("Merger

Subsidiary") and Kenneth Sim, M.D., as amended, pursuant to which Merger Subsidiary merged with and into NMM, with NMM as the surviving

corporation. Pending such receipt, such former NMM shareholders have the right to receive, without interest, their pro rata share of

dividends or distributions with a record date after the effectiveness of the merger. The Company's consolidated financial statements

have treated such shares of common stock as outstanding, given the receipt of the letter of transmittal is considered perfunctory and

ApolloMed is legally obligated to issue these shares in connection with the merger.

Shares of ApolloMed's common stock owned

by Allied Physicians of California, a Professional Medical Corporation d.b.a. Allied Pacific of California ("APC"), a VIE

of the Company, are legally issued and outstanding but excluded from shares of common stock outstanding in the Company's consolidated

financial statements, as such shares are treated as treasury shares for accounting purposes. Such shares, therefore, are not included

in the number of shares of common stock outstanding used to calculate the Company's earnings per share.

About Apollo Medical Holdings, Inc.

ApolloMed is a leading physician-centric, technology-powered,

risk-bearing healthcare company. Leveraging its proprietary end-to-end technology solutions, ApolloMed operates an integrated healthcare

delivery platform that enables providers to successfully participate in value-based care arrangements, thus empowering them to deliver

outcomes-based medical care to patients in a cost-effective manner.

Headquartered in Alhambra, California, ApolloMed's

subsidiaries and affiliates include management services organizations (MSOs), affiliated independent practice associations (IPAs), and

entities participating in the Centers for Medicare & Medicaid Services Innovation Center (CMMI) innovation models. For more information,

please visit www.apollomed.net.

Forward-Looking Statements

This press release contains forward-looking

statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements about the Company's

guidance for the year ending December 31, 2023, ability to meet operational goals, ability to meet expectations in deployment of

care coordination and management capabilities, ability to decrease cost of care while improving quality and outcomes, ability to deliver

sustainable revenue and EBITDA growth as well as long-term value, ability to respond to the changing environment, and successful implementation

of strategic growth plans, acquisition strategy, and merger integration efforts. Forward-looking statements reflect current views

with respect to future events and financial performance and therefore cannot be guaranteed. Such statements are based on the

current expectations and certain assumptions of the Company's management, and some or all of such expectations and assumptions

may not materialize or may vary significantly from actual results. Actual results may also vary materially from forward-looking

statements due to risks, uncertainties and other factors, known and unknown, including the risk factors described from time to time in

the Company's reports to the SEC, including, without limitation the risk factors discussed in the Company's Annual

Report on Form 10-K/A for the year ended December 31, 2022, and any subsequent quarterly reports on Form 10-Q. Any forward-looking

statement made by the Company in this release speaks only as of the date on which it is made. The Company undertakes no obligation to

publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may

be required by any applicable securities laws.

In connection with a review of the Company's