Full Press Release Details
ASTRANA HEALTH, INC.
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
| December 31, 2024 | December 31, 2023 | |||||||
| (Unaudited) | (Audited) | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 288,455 | $ | 293,807 | ||||
| Investment in marketable securities | 2,378 | 2,498 | ||||||
| Receivables, net | 225,733 | 76,780 | ||||||
| Receivables, net - related parties | 50,257 | 58,980 | ||||||
| Income taxes receivable | 19,316 | 10,657 | ||||||
| Other receivables | 29,496 | 1,335 | ||||||
| Prepaid expenses and other current assets | 22,861 | 17,450 | ||||||
| Total current assets | 638,496 | 461,507 | ||||||
| Non-current assets | ||||||||
| Property and equipment, net | 14,274 | 7,171 | ||||||
| Intangible assets, net | 118,179 | 71,648 | ||||||
| Goodwill | 419,253 | 278,831 | ||||||
| Income taxes receivable | 15,943 | 15,943 | ||||||
| Loans receivable, non-current | 51,266 | 26,473 | ||||||
| Investments in other entities - equity method | 39,319 | 25,774 | ||||||
| Investments in privately held entities | 8,896 | 6,396 | ||||||
| Restricted cash | 646 | 345 | ||||||
| Operating lease right-of-use assets | 32,601 | 37,396 | ||||||
| Other assets | 16,021 | 1,877 | ||||||
| Total non-current assets | 716,398 | 471,854 | ||||||
| Total assets (1) | $ | 1,354,894 | $ | 933,361 | ||||
| Liabilities, Mezzanine Deficit, and Stockholders' Equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 106,142 | $ | 59,949 | ||||
| Fiduciary accounts payable | 8,223 | 7,737 | ||||||
| Medical liabilities | 209,039 | 106,657 | ||||||
| Dividend payable | 638 | 638 | ||||||
| Finance lease liabilities | 554 | 646 | ||||||
| Operating lease liabilities | 5,350 | 4,607 | ||||||
| Current portion of long-term debt | 9,375 | 19,500 | ||||||
| Other liabilities | 26,287 | 18,940 | ||||||
| Total current liabilities | 365,608 | 218,674 |
| December 31, | December 31, | |||||||
| 2024 | 2023 | |||||||
| Non-current liabilities | ||||||||
| Deferred tax liability | 4,555 | 4,072 | ||||||
| Finance lease liabilities, net of current portion | 607 | 1,033 | ||||||
| Operating lease liabilities, net of current portion | 30,654 | 36,289 | ||||||
| Long-term debt, net of current portion and deferred financing costs | 425,299 | 258,939 | ||||||
| Other long-term liabilities | 14,003 | 3,586 | ||||||
| Total non-current liabilities | 475,118 | 303,919 | ||||||
| Total liabilities (1) | 840,726 | 522,593 | ||||||
| Mezzanine deficit | ||||||||
| Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation ("APC") | (202,558 | ) | (205,883 | ) | ||||
| Stockholders' equity | ||||||||
| Preferred stock, $0.001 par value per share; 5,000,000 shares authorized as of December 31, 2024 and December 31, 2023 | ||||||||
| Series A Preferred stock, zero authorized and issued and zero outstanding as of December 31, 2024 and 1,111,111 authorized and issued and zero outstanding as of December 31, 2023 | - | - | ||||||
| Series B Preferred stock, zero authorized and issued and zero outstanding as of December 31, 2024 and 555,555 authorized and issued and zero outstanding as of December 31, 2023 | - | - | ||||||
| Common stock, $0.001 par value per share; 100,000,000 shares authorized, 47,929,872 and 46,843,743 shares issued and outstanding, excluding 10,603,849 and 10,584,340 treasury shares, as of December 31, 2024 and December 31, 2023, respectively | 48 | 47 | ||||||
| Additional paid-in capital | 426,389 | 371,037 | ||||||
| Retained earnings | 286,283 | 243,134 | ||||||
| Total stockholders' equity | 712,720 | 614,218 | ||||||
| Non-controlling interest | 4,006 | 2,433 | ||||||
| Total equity | 716,726 | 616,651 | ||||||
| Total liabilities, mezzanine deficit, and stockholders' equity | $ | 1,354,894 | $ | 933,361 |
(1) The Company's condensed consolidated
balance sheets include the assets and liabilities of its consolidated VIEs. The condensed consolidated balance sheets include total assets
that can be used only to settle obligations of the Company's consolidated VIEs totaling $712.3 million and $540.8 million as of
December 31, 2024 and December 31, 2023, respectively, and total liabilities of the Company's consolidated VIEs for which
creditors do not have recourse to the general credit of the primary beneficiary of $207.9 million and $146.0 million as of December 31,
2024 and December 31, 2023, respectively. These VIE balances do not include $224.9 million of investment in affiliates and $48.1
million of amounts due to affiliates as of December 31, 2024, and $273.2 million of investment in affiliates and $107.3 million of
amounts due to affiliates as of December 31, 2023, as these are eliminated upon consolidation and not presented within the condensed
consolidated balance sheets.