1Life Healthcare (ONEM) Tops Q2 EPS by 9c, Revenues Beat; Offers 3Q Revenue Guidance Above Consensus

1Life Healthcare (NASDAQ: ONEM) reported Q2 EPS of ($0.24), $0.09 better than the analyst estimate of ($0.33). Revenue for the quarter came in at $78 million versus the consensus estimate of $61.72 million.

• Second Quarter 2020 Ending Membership Count of 475,000, a 25% Increase Year-Over-Year
• Second Quarter 2020 Net Revenue of $78.0 Million, an 18% Increase Year-Over-Year
• Ending Second Quarter 2020 Cash and Short-term Marketable Securities of $664.4 Million
• Announces plan to expand into two new markets with health network partners
• Provides Q3 2020 Guidance

“Our human-centered and technology-powered model is delivering longitudinal care across digital and in-person settings, delighting members with better health and better care while reducing costs,” said Amir Dan Rubin, Chair & CEO of One Medical. “We continued to show the power of our model in Q2, delivering record membership additions, supporting employers through digital health combined with in-person care and testing, expanding into new markets, and growing our partnerships with leading health networks.”

GUIDANCE:

1Life Healthcare sees Q3 2020 revenue of $84-89 million, versus the consensus of $74.61 million.

One Medical provides forward-looking guidance on membership count, total net revenue, care margin, and adjusted EBITDA. Care margin and adjusted EBITDA are non-GAAP measures.

For the third quarter of 2020, we expect:

• Ending Membership count in the range of 486,000 to 496,000;
• Total Net Revenue in the range of $84.0 million to $89.0 million;
• Care Margin in the range of $26.0 million to $31.0 million; and
• Adjusted EBITDA in the range of a loss of $12.0 million to a loss of $7.0 million.
• For the full year of 2020, we expect:
• Ending Membership count in the range of 505,000 to 515,000.

For earnings history and earnings-related data on 1Life Healthcare (ONEM) click here.

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