APOLLO MEDICAL HOLDINGS, INC. | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||
(UNAUDITED) | ||||||||
Three Months Ended
March 31, | ||||||||
2019 | 2018 | |||||||
Revenue | ||||||||
Capitation, net | $ | 71,516,778 | $ | 85,905,284 | ||||
Risk pool settlements and incentives | 10,093,841 | 17,986,736 | ||||||
Management fee income | 8,996,600 | 12,074,572 | ||||||
Fee-for-service, net | 4,080,674 | 6,236,628 | ||||||
Other income | 1,069,278 | 1,720,026 | ||||||
Total revenue | 95,757,171 | 123,923,246 | ||||||
Operating expenses | ||||||||
Cost of services | 83,432,474 | 84,614,686 | ||||||
General and administrative expenses | 10,263,960 | 11,301,237 | ||||||
Depreciation and amortization | 4,417,581 | 5,058,512 | ||||||
Provision for doubtful accounts | 951,014 | 247,102 | ||||||
Total expenses | 99,065,029 | 101,221,537 | ||||||
(Loss) income from operations | (3,307,858) | 22,701,709 | ||||||
Other income (expense) | ||||||||
Loss from equity method investments | (849,657) | (28,024) | ||||||
Interest expense | (210,979) | (85,001) | ||||||
Interest income | 323,008 | 269,818 | ||||||
Other income | 187,116 | 87,993 | ||||||
Total other (expense) income, net | (550,512) | 244,786 | ||||||
(Loss) income before (benefit from) provision for income taxes | (3,858,370) | 22,946,495 | ||||||
(Benefit from) provision for income taxes | (1,408,241) | 7,228,840 | ||||||
Net (loss) income | (2,450,129) | 15,717,655 | ||||||
Net (loss) income attributable to noncontrolling interest | (2,589,793) | 13,557,200 | ||||||
Net income attributable to Apollo Medical Holdings, Inc. | $ | 139,664 | $ | 2,160,455 | ||||
Earnings per share – basic | $ | 0.00 | $ | 0.07 | ||||
Earnings per share – diluted | $ | 0.00 | $ | 0.06 | ||||
Weighted average shares of common stock outstanding-basic | 34,496,622 | 32,421,467 | ||||||
Weighted average shares of common stock outstanding – diluted | 38,074,174 | 38,098,373 | ||||||
