Filing Flows › Astrana Health (ASTH) › Q1 2025
Astrana Health (ASTH) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Astrana Health (ASTH) reported revenue of $620M for the first quarter 2025 (Q1 2025), +53% from a year earlier and -7% from the quarter before. Operating margin was 3.3%, net earnings $6.7M (1.1% of revenue).
Astrana Health, Q1 2025: revenue $620M (+53% year over year), operating margin 3.3%, net earnings $6.7M, operating cash flow $16.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $620M | -7% | +53% |
| Operating profit | $20.6M | 29× | -32% |
| Net earnings | $6.7M | — | -55% |
| Operating cash flow | $16.6M | — | +178% |
| Free cash flow | $13.6M | — | +142% |
What changed
Revenue was $620.4M in Q1 2025, up 53% year over year and down 7% from the previous quarter. Health Care Capitation Revenue was the largest line at 94% of revenue. Health Care Capitation Revenue added $218.1M year over year (up 60%), 101% of the total change. Management Service declined 43%.
Operating profit was $20.6M, a 3.3% margin (down 4.1 points year over year). Operating profit fell $9.6M even though revenue rose $216.0M versus a year earlier, so costs grew faster than sales. Total costs grew 60% against revenue growth of 53%. The fastest-growing cost line was Cost of revenue (+66%). Net earnings were $6.7M, down 55% year over year. The effective tax rate was 35.2%.
Operating cash flow was $16.6M (up 178% year over year), 267% of net income including minority interests. Non-cash charges added back $6.8M of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items used $4.3M. Capital expenditures of $3.1M left free cash flow of $13.6M.
Questions
What was Astrana Health's revenue in the first quarter 2025?
Astrana Health (ASTH) reported revenue of $620M for the first quarter 2025 (Q1 2025), +53% from a year earlier and -7% from the quarter before.
Was Astrana Health profitable in the first quarter 2025?
Operating profit was $20.6M (3.3% of revenue) and net earnings $6.7M.
Source: Astrana Health 10-Q on SEC EDGAR.