Healthcare stock under pressure: 1life Healthcare Inc (NASDAQ: ONEM)

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1life Healthcare Inc (NASDAQ: ONEM) stock fell over 17.05% on 18th March, 2020 (Source: Google finance) and continued its bearish momentum on 19th March, 2020 falling over 6.8%.  The company in the fourth quarter of FY 19 has reported a 5% increase in the Net Loss to $19.5 million compared to $18.6 million.

The company had reported the adjusted revenue growth of 33 percent to $77.4 million in the fourth quarter of FY 19. The company has generated Cash and Short-term Marketable Securities at the year-end of $146.5 million. This balance does not include the $263.4 million in net proceeds generated from the company’s initial public offering on January 31, 2020. Notes Payable as of year-end were $3.3 million. The company has posted adjusted EBITDA of a loss of $9.4 million compared to a loss of $6.8 million, which is a 37% increase. The company has reported Membership count as of year-end of approximately 422 thousand compared to approximately 346 thousand, which is a 22% increase. The company posted the Care Margin of $28.4 million compared to $22.3 million, which is a 27% increase. The company has generated the Loss from Operations of $19.0 million compared to $19.9 million, a 5% decrease.

Moreover, for FY 19, the company has reported 30% increase in Net Revenue was $276.3 million compared to $212.7 million. Care Margin for FY 19 was $108.6 million compared to $76.5 million, a 42% increase. In FY19, the company generated Loss from Operations of $54.1 million compared to $45.0 million, a 20% increase.

For the first quarter of 2020, the company expects Ending Membership count to be between 443 thousand to 447 thousand, total Net Revenue is expected to be between $74 million and $77 million, Care Margin to be between $22 million and $25 million, and, Adjusted EBITDA to be between a loss of $18 million and a loss of $15 million. For the full year of 2020, the company expects Ending Membership count to be between 495 thousand to 510 thousand.

Meanwhile, the company did not provide revenue, care margin, or adjusted EBITDA guidance for 2020 because of uncertainties around the duration and extent of the continued COVID-19 pandemic and related community self-isolation practices and any impact that these two items may have on the company’s financial performance for full year 2020.

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