![Agilon Health Reports Wider-Than-Expected Loss in Q3](https://www.investingapps.org/img/fd88d0f9-635d-418a-9c73-5ab1801ea053/news-article-12.jpeg?fm=jpg&q=80&fit=max&crop=1920%2C1080%2C0%2C0&w=1140)
Agilon Health, a medical and nursing services company, experienced a 17% drop in its shares, with the stock reaching a 52-week low of $12.14. Over the past 12 months, the stock has seen a 27% decline.
During the third quarter, Agilon Health reported a loss of $31.4 million, or 8 cents per share, compared to a loss of $30.7 million, or 7 cents per share, in the same quarter last year. Analysts had predicted a loss of $22.9 million, or 5 cents per share. Despite this, revenue for the quarter reached $1.22 billion, surpassing last year's $694.9 million and the expected $1.13 billion.
As of September 30, the number of total members on the Agilon platform increased to 508,000. Looking ahead, the company anticipates revenue between $4.31 billion and $4.32 billion for fiscal year 2023, falling short of the analysts' projections of $4.53 billion.
Conclusion
Agilon Health faces challenges with a wider-than-expected loss in Q3. However, despite the setback, the company's revenue has shown significant growth and the number of members on the platform continues to rise. With a revised revenue projection for fiscal year 2023, Agilon Health seeks to navigate the industry landscape and capitalize on future opportunities.
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