1Life Healthcare (ONEM) Misses Q1 EPS by 14c, Revenues Beat; Offers 2Q & FY21 Revenues Mid-Point Guidance Below Consensus

May 12, 2021 4:16 PM EDT

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1Life Healthcare (NASDAQ: ONEM) reported Q1 EPS of ($0.29), $0.14 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $121.4 million versus the consensus estimate of $116.24 million.

  • First Quarter 2021 Ending Membership Count of 598,000, a 31% Increase Year-Over-Year
  • First Quarter 2021 Net Revenue of $121.4 Million, a 54% Increase Year-Over-Year
  • Ending First Quarter 2021 Cash and Short-term Marketable Securities of $703.6 Million
  • Provides Q2 2021 Guidance

“Through our human-centered and technology-powered model, we continue to perform, innovate, and grow to delight more members with better health, better care, and lower costs,” said Amir Dan Rubin, Chair & CEO of One Medical. “In Q1 we continued demonstrating significant impacts by delivering record membership additions, showcasing reductions in total cost of care, and developing new markets and health network partnerships. Today, we are pleased to announce new plans to enter Dallas-Fort Worth, Texas with Baylor Scott & White as a health network partner. In addition to our nationwide telehealth services, we will soon deliver combined telehealth plus in-person care across 22 markets, extending the reach of our model to markets covering nearly 40% of the U.S. commercially-insured population. As we continue to expand across the nation, our results demonstrate how One Medical can transform healthcare at scale.”


1Life Healthcare sees Q2 2021 revenue of $111-118 million, versus the consensus of $117.4 million.

1Life Healthcare sees FY2021 revenue of $465-485 million, versus the consensus of $482.44 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 second quarter of 2021, we expect:

  • Ending Membership count in the range of 610,000 to 620,000; and,
  • Net Revenue in the range of $111 million to $118 million.

For the full year of 2021, we continue to 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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