Earnings summaries and quarterly performance for Astrana Health.
Executive leadership at Astrana Health.
Board of directors at Astrana Health.
DG
David G. Schmidt
Detailed
Director
JL
J. Lorraine Estradas, R.N., B.S.N., M.P.H.
Detailed
Director
JC
John Chiang
Detailed
Director
LM
Linda Marsh
Detailed
Director
MM
Matthew Mazdyasni
Detailed
Director
MW
Mitchell W. Kitayama
Detailed
Lead Independent Director
TS
Thomas S. Lam, M.D., M.P.H.
Detailed
Vice Chairman
WD
Weili Dai
Detailed
Director
Research analysts who have asked questions during Astrana Health earnings calls.
Andrew Mok
Barclays
3 questions for ASTH
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CJ
Craig Jones
Stifel Financial Corp.
3 questions for ASTH
Also covers: AGL, ALHC, OSCR +1 more
David Larsen
BTIG
3 questions for ASTH
Also covers: ACCD, AGL, AMWL +19 more
JS
Jack Slevin
Jefferies Financial Group Inc.
3 questions for ASTH
Also covers: AGL, AMN, ATGE +8 more
Jailendra Singh
Truist Securities
3 questions for ASTH
Also covers: ACCD, AGL, AMWL +16 more
MG
Matthew Gillmor
KeyCorp
3 questions for ASTH
Also covers: ACHC, ADUS, ALHC +11 more
Matthew Mardula
William Blair
3 questions for ASTH
Also covers: HCSG, LFST, TALK +1 more
Michael Ha
Robert W. Baird & Co.
3 questions for ASTH
Also covers: AGL, ALHC, CNC +7 more
RL
Ryan Langston
TD Cowen
3 questions for ASTH
Also covers: ACHC, ADUS, AGL +15 more
Recent press releases and 8-K filings for ASTH.
Astrana Health Discusses Growth, Acquisitions, and 2025 Guidance
ASTH
Guidance Update
M&A
New Projects/Investments
- Astrana Health has achieved a 33% revenue and Adjusted EBITDA CAGR over the past six years and projects continued mid-20s growth in the medium term, reiterating its full-year 2025 guidance.
- The company has expanded to 16 markets serving 1.6 million members in value-based care arrangements, with 61% of revenue from Medicare, and has successfully shifted to approximately 80% of revenue from full risk arrangements as of January this year.
- Astrana successfully integrated the Prospect Health acquisition, achieving ~$2.5x pro forma net leverage in the first consolidated reporting quarter and expecting $12-$15 million in synergies within 12-18 months.
- The company has finalized contract renegotiations for a Q1 2026 start and is managing utilization trends, targeting a ~4.5% blended trend for 2025, while navigating regulatory changes with limited Medicaid and HIX exposure.
Jan 13, 2026, 1:15 AM
Astrana Health Discusses Growth, Acquisitions, and Strategy at J.P. Morgan Healthcare Conference
ASTH
M&A
Guidance Update
Revenue Acceleration/Inflection
- Astrana Health operates as a value-based provider organization using a single-payer delegated model that subsumes reimbursement from payers, manages downstream provider networks, and coordinates care for members across various lines of business.
- The company has grown its revenue at a 33% CAGR over the last six years and plans to continue growing in the mid-20s in the medium term, expanding to 16 markets across the country, primarily in the Sun Belt, Mid-Atlantic, and Northeast.
- Astrana Health's acquisition of Prospect Health for $707 million in July (last year) is on track for integration, with $12 million to $15 million in synergies expected in the first 12-18 months, and the company has achieved 2.5 times pro forma net leverage in the first quarter of the consolidated entity.
- A large majority of outstanding contract renegotiations have been finalized for a Q1 2026 start, and the company has significantly shifted towards full-risk arrangements, with approximately 80% of its revenue coming from full-risk at the beginning of the current year.
- Astrana Health reiterated its guidance for the full financial year 2025 and is adapting to regulatory changes by focusing on its Medicare book of business while preparing for potential headwinds in Medicaid and Health Insurance Exchange (HIX) markets.
Jan 13, 2026, 1:15 AM
Astrana Health Discusses Growth, Prospect Health Acquisition, and 2025 Guidance at J.P. Morgan Healthcare Conference
ASTH
M&A
Guidance Update
Revenue Acceleration/Inflection
- Astrana Health, a value-based provider organization, reported a 33% CAGR in revenue and Adjusted EBITDA over the last six years and plans for mid-20s growth in the medium term.
- The $707 million acquisition of Prospect Health in July 2025, which added approximately 600,000 members, is on track for integration with $12-$15 million in synergies expected within 12-18 months. Leverage has been reduced to approximately 2.5 times pro forma net debt to Adjusted EBITDA in the first quarter of reporting the consolidated entity.
- A large majority of outstanding contract renegotiations have been finalized for a Q1 2026 start.
- The company reiterated its guidance for the full year 2025, confirming that Q3 results provide an accurate range for the year.
Jan 13, 2026, 1:15 AM
Astrana Health Reiterates FY 2025 Guidance and Provides Business Update
ASTH
Guidance Update
M&A
Revenue Acceleration/Inflection
- Astrana Health reiterated its guidance for FY 2025, expecting Total Revenue between $3,100 million and $3,180 million and Adjusted EBITDA between $200 million and $210 million.
- For the third quarter ended September 30, 2025, the company reported Total Revenue of $956.0 million and Adjusted EBITDA of $68.5 million.
- The company has expanded its operations to sixteen markets across the country by 2025, serving 1.6 million members in value-based arrangements as of September 30, 2025.
- Integration of the Prospect Health partnership (July 2025) is on track, with a pro forma net debt to adjusted EBITDA ratio of ~2.5x achieved as of Q3 2025, and $12-15 million in cost synergies expected over the first 18 months.
- Astrana Health projects its full-risk membership to reach 100% by January 2026, up from 80% in Q3 2025, indicating a strategic shift towards full-risk contracts.
Jan 12, 2026, 9:06 PM
Astrana Health Reports Q3 2025 Results and Updates Full-Year Guidance
ASTH
Earnings
Guidance Update
M&A
- Astrana Health reported Q3 2025 revenue of $956 million, a 100% year-over-year increase, and adjusted EBITDA of $68.5 million, up 52% year-over-year.
- The company updated its full-year 2025 guidance, now projecting total revenue between $3.1 billion and $3.18 billion and adjusted EBITDA between $200 million and $210 million. This revision is attributed to the timing of full-risk contract transitions to Q1 2026 from mid-2025, not a change in underlying performance.
- Integration of the Prospect acquisition is on track, with $12 million-$15 million in synergy targets reiterated through 2026, and full onboarding of Prospect's physician groups to the Astrana platform anticipated by mid-2026.
- Medical cost trends were stable and in line with expectations, with a blended weighted average trend just under 4.5%. Astrana also expanded its partnership with Intermountain Health and secured a new Southern California provider group serving over 40,000 members.
Nov 6, 2025, 10:30 PM
Astrana Health Reports Strong Q3 2025 Results, Updates Full-Year Guidance
ASTH
Earnings
Guidance Update
M&A
- Astrana Health delivered Q3 2025 total revenues of $956 million, marking a 100% year-over-year increase, and adjusted EBITDA of $68.5 million, up 52% year-over-year, primarily driven by the acquisition of Prospect Health and solid organic growth.
- The company updated its full-year 2025 revenue guidance to a range of $3.1 to $3.18 billion and adjusted EBITDA to a range of $200 to $210 million. This adjustment reflects a timing delay for several payer contracts to transition to full-risk arrangements, now expected in Q1 2026 instead of mid-2025, and does not indicate a change in underlying performance or cost trends.
- Medical cost trends across both legacy Astrana and Prospect businesses remained within expectations during the third quarter, with legacy Astrana's Medicare trend performing favorably below the aggregate 4.5% full-year expectation.
- Astrana ended Q3 2025 with approximately $462 million of cash and short-term investments and net debt of $624 million, resulting in a net leverage ratio of approximately 2.5 times on a pro forma trailing 12-month adjusted EBITDA basis.
Nov 6, 2025, 10:30 PM
Astrana Health Reports Strong Q3 2025 Results, Updates Full-Year Guidance Due to Contract Timing
ASTH
Earnings
Guidance Update
M&A
- Astrana Health reported Q3 2025 total revenues of $956 million, a 100% year-over-year increase, and adjusted EBITDA of $68.5 million, up 52% year over year, largely due to the integration of Prospect Health.
- The company updated its full-year 2025 revenue guidance to $3.1 to $3.18 billion and adjusted EBITDA to $200 to $210 million, citing a timing delay in the transition of full-risk contracts to Q1 2026.
- Medical cost trends for both legacy Astrana and Prospect businesses remained stable and within expectations during Q3 2025.
- Astrana Health ended Q3 2025 with a net leverage ratio of approximately 2.5 times, ahead of expectations, and expects $12 to $15 million in synergies from the Prospect acquisition through 2026.
Nov 6, 2025, 10:30 PM
ASTH Reports Q3 2025 Results and Updates FY 2025 Guidance
ASTH
Earnings
Guidance Update
M&A
- ASTH reported Q3 2025 revenue of $956.0 million and Adjusted EBITDA of $68.5 million. Net income attributable to ASTH was $0.4 million, with diluted EPS at $0.01.
- For FY 2025, the company provided guidance with expected revenue between $3,100 million and $3,180 million and Adjusted EBITDA between $200 million and $210 million.
- Operational highlights for Q3 2025 include the acquisition of Prospect, increasing the number of patients served in value-based arrangements to over 1.6 million. Additionally, 77% of revenues now come from fully capitated arrangements, up from 60% a year ago.
Nov 6, 2025, 10:30 PM
Astrana Health, Inc. Reports Third Quarter 2025 Results
ASTH
Earnings
Guidance Update
M&A
- Astrana Health, Inc. reported total revenue of $956.0 million for the third quarter ended September 30, 2025, representing a 100% increase year-over-year.
- Adjusted EBITDA for Q3 2025 was $68.5 million, up 52% from the prior year quarter.
- The company reported net income attributable to Astrana of $0.4 million and diluted earnings per share of $0.01 for the third quarter.
- Astrana completed its acquisition of Prospect Health on July 1, 2025, with Prospect's standalone third-quarter performance exceeding expectations.
- The full-year 2025 guidance was updated, with total revenue expected to be between $3,100 million and $3,180 million, and Adjusted EBITDA projected to be between $200 million and $210 million.
Nov 6, 2025, 9:19 PM
Astrana Health Reports Strong Q3 2025 Results and Updates Full-Year Guidance
ASTH
Earnings
Guidance Update
M&A
- Astrana Health reported total revenue of $956.0 million for the third quarter ended September 30, 2025, marking a 100% increase year-over-year.
- Adjusted EBITDA for Q3 2025 was $68.5 million, up 52% compared to the same period in the prior year.
- The company completed the acquisition of Prospect Health on July 1, 2025, with its standalone third-quarter performance exceeding expectations.
- Astrana Health updated its full-year 2025 guidance, projecting total revenue between $3,100 million and $3,180 million, and Adjusted EBITDA between $200 million and $210 million.
Nov 6, 2025, 9:05 PM
Quarterly earnings call transcripts for Astrana Health.
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