Financial Data and Key Metrics Changes - Revenue for Q4 2024 was $100.3 million, a 17% increase compared to Q4 2023, driven primarily by dispensary revenue [21] - Full year 2024 revenue reached $393 million, representing a 21.3% increase from 2023 [25] - Gross profit for Q4 2024 was $14.6 million, a 2% increase year-over-year, while full year gross profit was $54 million, a 9.4% decrease from 2023 [22][25] - Net loss for Q4 2024 was $13 million, an improvement of $5.6 million compared to Q4 2023, while the full year net loss was $64.6 million, a decrease of $18.4 million from 2023 [23][27] - Adjusted EBITDA for Q4 2024 was negative $7.8 million, compared to negative $6.3 million in Q4 2023, and for the full year, it was negative $35.7 million [23][27] Business Line Data and Key Metrics Changes - Value-based patient services saw significant growth with six new contracts totaling over 270,000 lives launched in Q3 and Q4 2024 [9] - Pharmacy and medically integrated dispensaries generated $48 million in Q4 and $180 million for the full year, reflecting a 73% annualized growth [10] - SG&A expenses decreased by 12% in Q4 2024 compared to Q4 2023, demonstrating operational efficiency [12] Market Data and Key Metrics Changes - The company expanded its operations outside California, signing two new contracts in Florida during Q4 2024, totaling over 200,000 lives [9] - The company is positioned to handle substantial growth in new markets without increasing overhead costs [31] Company Strategy and Development Direction - The company aims to achieve profitability and positive cash flow by the end of 2025, focusing on operational management and strategic market expansion [8][39] - A key strategy includes optimizing the cost structure and enhancing financial flexibility through debt restructuring and capital raises [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in crossing the line to profitability by the end of 2025, despite 2024 not meeting expectations [8] - The company anticipates a gradual reduction in losses throughout 2025, with expectations of positive EBITDA in Q4 [35] Other Important Information - Cash and cash equivalents increased to $49.7 million by the end of Q4 2024, aided by working capital management [28] - The company successfully amended its facility agreement, including a $20 million principal paydown of outstanding debt [16] Q&A Session Summary Question: What are the significant moving factors for 2025 guidance? - Growth in capitation contracts and organic growth in fee-for-service and dispensary are essential for achieving targets [45] Question: Will patient service be a meaningful growth driver in 2025? - Yes, the capitation segment will be the primary driver of overall profitability [48] Question: What is the capacity of new clinics in Florida compared to California? - California clinics are operating at about 75% capacity, while Florida clinics are at approximately 40% capacity [54] Question: Any thoughts on the recent reimbursement landscape? - General macro trends in the oncology industry are favorable, with potential benefits from changes related to drug pricing [59]