1life Healthcare Inc (NASDAQ: ONEM) stock lost over 9.6% in the pre-market session of 14th May, 2020 (as of 5:36 am GMT-4; Source: Google finance). The company had generated Loss from Operations of $29.0 million, or 37% of total net revenue. The company delivered the adjusted EBITDA of a loss of $13.5 million, or 17% of total net revenue. Overall, the company reported the Net Loss of $34.6 million, or 44% of total net revenue. The company has extended the digital solutions, expanded in-person care and testing services, grown the geographic reach, added more members and enterprise relationships, advanced the health network partnerships, and launched the One Medical Healthy Together work site reentry program.
The company in the first quarter of FY 20 has reported 25% increase in Net Revenue to $78.8 Million Year-Over-Year and 25% rise in first quarter 2020 Ending Membership Count to approximately 455,000, a 25% Increase Year-Over-Year. The company has ended first quarter 2020 cash and Short-term Marketable Securities Balance of $375.4 million with $2.2 million in debt. The company posted the Care Margin of $27.2 million, or 35% of total net revenue. The Q1 care margin reflects the expansion into Portland, as well as the opening of additional offices across the markets.
Moreover, during the quarter, the company posted membership revenue of $15.2 million, which grew 27% year over year. The company has delivered net patient service revenue of $34.1 million and partnership revenue of $29.5 million.
For the second quarter of 2020, the company expects Ending Membership count to be in the range of 465,000 to 475,000, total net revenue is expected to be in the range of $56.0 million and $66.0 million, Care Margin to be in the range of $1.0 million and $11.0 million, and adjusted EBITDA to be in the range of a loss of $36.0 million and a loss of $26.0 million.
For the full year of 2020, the company projects Ending Membership count to be in the range of 500,000 to 515,000, which reflects an increase to the previous guidance of 495,000 to 510,000 ending membership count. The company is tracking favorably against the membership projections throughout January and February with even stronger acceleration in March. ONEM has not provided revenue, care margin, or adjusted EBITDA forecasts for 2020 on the back of uncertainties around the duration and extent of the continued COVID-19 pandemic and related community self-isolation practices.