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Apollo Medical Holdings Reports Record Fiscal 2014 Second Quarter Results
Date:9/16/2013

l group clients.
  • After factoring non-cash stock-based compensation costs for physicians, employees, directors and consultants of $1.48 million, coupled with approximately $1.06 million in expenses for new physicians hired to support new hospital contracts, loss from operations increased to roughly $2.07 million from approximately $117,000.
  • Non-GAAP* Adjusted EBITDA loss totaled approximately $390,000 compared to positive EBITDA of  approximately $79,000.
  • Net loss decreased 29% to $2.38 million, or $0.07 loss per basic and diluted share, compared to $3.36 million, or $0.11 loss per basic and diluted share.
  • As of July 31, 2013, cash and cash equivalents totaled $1.25 million and total stockholders' deficit was approximately $1.27 million.  Net cash used in the Company's operating activities for the first six months of fiscal 2014 was $298,000, up from approximately $65,000 for the same six months in the prior fiscal year.

    Commenting on the results, Warren Hosseinion, MD, CEO and President of ApolloMed, stated, "During the second quarter, we continued to successfully execute our multi-channel growth strategies, leveraging our strong reputation as a trusted partner to all stakeholders in the care continuum.  By consistently delivering best in class inpatient and outpatient services to residents of Los Angeles and Central California, ApolloMed Hospitalists continues to achieve record revenue growth on a quarter-over-quarter basis – an accomplishment in which we take immense pride.  Moreover, both ApolloMed ACO and Maverick Medical have continued to make notable progress over the past several months with implementing key initiatives designed to attract leading physicians, specialty care groups and medical institutions to our exciting, high growth platforms.
    We look forward to detailing specific wins in this regard in a series of news announcements in the coming weeks and months."

    For more det
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    SOURCE Apollo Medical Holdings, Inc.
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