agilon health, inc. (NYSE:AGL) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Matthew Gillmor – Vice President of Investor Relations Steve Sell – Chief Executive Officer Tim Bensley – Chief Financial Officer Conference Call Participants Lisa Gill – JPMorgan Justin Lake – Wolfe Research Stephen Baxter – Wells Fargo Taji Phillips – Jefferies Whit Mayo – SVB Securities Adam Ron – Bank of America Jack Senft – William Blair Gary Taylor – Cowen George Hill – Deutsche Bank Operator ...

Membership Growth - Medicare Advantage members increased by 44% to approximately 261,200 as of June 30, 2022, compared to 181,700 in the same period of 2021[110] - DCE attributed beneficiaries increased by 63% to approximately 90,500 as of June 30, 2022, compared to the same period in 2021[110] - Average Medicare Advantage membership during the second quarter was 265,400[113] Revenue Performance - Total revenue for the second quarter of 2022 was $670 million, representing a 34% increase from the second quarter of 2021[110] - Year-to-date total revenue for 2022 reached $1.3 billion, a 45% increase compared to 2021[112] - Medical services revenue for the three months ended June 30, 2022, was $669,184,000, an increase of 34.4% from $497,678,000 in the same period of 2021[124] - For the six months ended June 30, 2022, medical services revenue rose by 45% to $1.32 billion from $910.1 million in 2021, attributed to the expansion into six new geographies[146] - Total revenues for the six months ended June 30, 2022, were $1,323,579,000, compared to $912,060,000 for the same period in 2021, reflecting a growth of 45.2%[143] Profitability and Loss - The net loss for the second quarter of 2022 was $21 million, significantly reduced from a net loss of $299 million in the second quarter of 2021[110] - Adjusted EBITDA for the second quarter of 2022 was positive $7 million, compared to negative $2 million in the second quarter of 2021[110] - Net income (loss) for the three months ended June 30, 2022, was $(20,731,000), an improvement from $(298,941,000) in the same period of 2021[143] - The company reported a net loss of $3 million for the three months ended June 30, 2022, compared to a net loss of $60 million in the same period of 2021[145] - Adjusted EBITDA for the three months ended June 30, 2022, was $7.5 million, compared to a loss of $1.7 million for the same period in 2021[163] Medical Expenses - Medical services expense for the three months ended June 30, 2022, was $587,140,000, an increase of 32.7% from $442,483,000 in the same period of 2021[143] - Medical services expense for the three months ended June 30, 2022, increased by 33% to $587.1 million compared to $442.5 million in 2021, reflecting the growth in average membership[147] - Other medical expenses for the three months ended June 30, 2022, were $49,080,000, compared to $33,694,000 in the same period of 2021, reflecting a 45.5% increase[143] - Other medical expenses for the three months ended June 30, 2022, rose by 46% to $49.1 million from $33.7 million in 2021, with partner physician incentive expenses increasing by $9.0 million[149] Operating Costs - Platform support costs for the second quarter of 2022 were $36.3 million, an 18% increase from $30.7 million in the second quarter of 2021[120] - Operating costs to support live geographies and enterprise functions increased by $5.6 million to $36.3 million for the three months ended June 30, 2022[151] - Platform support costs for the three months ended June 30, 2022, were $36,291,000, representing 5% of revenue, down from 6% in the same period of 2021[129] Cash Flow and Financing - Cash and cash equivalents as of June 30, 2022, totaled $668.6 million, with investments in marketable securities amounting to $285.6 million[164] - Net cash used in operating activities was $83.5 million for the six months ended June 30, 2022, compared to $80.1 million for the same period in 2021, indicating a slight increase in cash outflow[171] - Net cash used in investing activities was $305.5 million for the six months ended June 30, 2022, significantly higher than $76.3 million for the same period in 2021, reflecting increased investments in marketable securities[173] - Net cash provided by financing activities was $17.8 million for the six months ended June 30, 2022, a substantial decrease from $1.1 billion in the same period of 2021, primarily due to the IPO proceeds received in 2021[174] Future Outlook - The company expects to continue incurring operating losses and generating negative cash flows from operations for the foreseeable future due to ongoing investments in business expansion[165] - The company may require additional capital resources in the future to execute strategic initiatives for growth, potentially through public or private equity offerings and/or debt financings[167] - The company plans to continue expanding into new geographies, which is expected to drive further revenue growth in the future[148] Debt and Interest Rates - The company executed a credit facility agreement with a $100.0 million senior secured term loan and a $100.0 million senior secured revolving credit facility[175] - The company repaid $50.0 million of the Secured Term Loan Facility on April 26, 2021, with a maturity date extended to February 18, 2026[175] - The interest rate for LIBO Rate Loans is set at 4.00%, stepping down to 3.50% on October 1, 2023[176] - The company has a commitment fee of 0.50% on the unfunded 2021 Revolving Credit Facility amount, stepping down to 0.375% on October 1, 2023[176] - The company is exposed to market risks related to floating rate debt under the Credit Facilities, which may impact financial statements due to interest rate fluctuations[183] Accounting Policies - There have been no significant changes to the company's critical accounting policies during 2022[181]

agilon health, inc. (NYSE:AGL) Q1 2022 Earnings Conference Call May 5, 2022 5:00 PM ET Company Participants Matthew Gillmor - Vice President of Investor Relations Steven Sell - Chief Executive Officer Tim Bensley - Chief Financial Officer Conference Call Participants Lisa Gill - JPMorgan Chase & Co. Whit Mayo - SVB Securities LLC Harrison Zhuo - Wolfe Research, LLC Stephen Baxter - Wells Fargo Securities LLC Gary Taylor - Cowen Inc. Nicholas Spiekhout - William Blair & Company Sandy Draper - Guggenheim Part ...

agilon Health, Inc. (NYSE:AGL) Q4 2021 Earnings Conference Call March 4, 2022 8:30 AM ET Company Participants Matthew Gillmor - VP, IR Steven Sell - CEO Tim Bensley - CFO Conference Call Participants Lisa Gill - J.P. Morgan Justin Lake - Wolfe Research Kevin Fischbeck - Bank of America Brian Tanquilut - Jefferies Gary Taylor - Cowen & Company George Hill - Deutsche Bank Unidentified Analyst - William Blair Stephen Baxter - Wells Fargo Operator Hello and welcome to the agilon Health Fourth Quarter 2021 Earni ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |------------------------------------------------------------------------------------------------------|--------------------------------------------------- ...