1Life Healthcare (ONEM) Tops Q4 EPS by 8c, Revenues Beat; Offers 1Q Revenues Outlook Above Consensus, Provides FY21 Revenue Outlook

1Life Healthcare (NASDAQ: ONEM) reported Q4 EPS of ($0.06), $0.08 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $121.8 million versus the consensus estimate of $106.62 million.

• 2020 Ending Membership Count of 549,000, a 30% Increase Year-Over-Year
• Fourth Quarter 2020 Net Revenue of $121.8 Million, a 57% Increase Year-Over-Year
• Full Year 2020 Net Revenue of $380.2 Million, a 38% Increase Year-Over-Year
• 2020 Ending Cash and Short-term Marketable Securities of $683.0 Million
• Provides Q1 2021 and Full Year 2021 Guidance

“At One Medical we are advancing on our vision to delight our communities, our members, and our enterprise clients with better health and better care, while reducing costs,” said Amir Dan Rubin, Chair & CEO of One Medical. “We have continued to see our human-centered and technology-powered model deliver impacts at scale--expanding to serve 549,000 members and more than 8,000 employer clients, and enabling more than 5 million digital and in-person interactions during 2020. Our continued momentum is further reflected in our financial results, with full year 2020 net revenue of $380 million up 38% year-over-year.”

GUIDANCE:

1Life Healthcare sees Q1 2021 revenue of $113-118 million, versus the consensus of $108.93 million.

1Life Healthcare sees FY2021 revenue of $465-485 million, versus the consensus of $477.45 million.

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

For the first quarter of 2021, we expect:

• Ending Membership count in the range of 590,000 to 600,000; and,
• Net Revenue in the range of $113 million to $118 million.

For the full year of 2021, we expect:

• Ending Membership count in the range of 660,000 to 680,000;
• Net Revenue in the range of $465 million to $485 million;
• Care Margin in the range of $170 million to $190 million; and
• Adjusted EBITDA in the range of a loss of $20 million to break-even.

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

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