Short answer
Astrana Health, Inc. (ASTH) filed its Q3 2025 10-Q quarterly report on Nov 10, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $956M (up 99.7% year over year) with net income of $373,000.
Q3 2025 key financials · XBRL
- Revenue
- $956M
- +99.7% YoY · +208.3% QoQ
- Net income
- $373,000
- −97.7% YoY · −77.8% QoQ
- Operating margin
- 2.0%
- EPS (diluted)
- $0.00
- −100.0% YoY · −100.0% QoQ
Source: XBRL data from the Astrana Health, Inc. (ASTH) Q3 2025 10-Q on SEC EDGAR. USD.
Astrana Health, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $956.0M, up 100% YoY from $478.7M, including approximately $308.0M from Prospect
- Operating margin 2.0% vs 5.9% YoY; net income attributable to Astrana $0.4M vs $16.1M
- Capitation revenue $863.4M, up 100%; management fee income $15.2M, up 454%, strongest growth
- Cost of services $858.9M, up 112%, reflecting higher utilization and Prospect-related medical costs
- Prospect acquisition cost $674.9M; borrowings $1,064.2M vs $432.0M, increasing quarterly interest expense to $17.7M vs $8.9M
Risk Factors
- New regulatory risk: OBBBA enacted July 4, 2025, tightening Medicaid and Medicare eligibility requirements
- Medicaid enrollment risk: Work requirements and copayments could reduce federal-program patient populations
- New legal risk: Prospect PhysicianCo Entities filed Chapter 11 bankruptcy on July 7, 2025
- Financial exposure: Eliminated escrow and bankruptcy limit recourse for Prospect transaction-related costs
- Hospital operating risk: Medicaid provider-tax reforms could reduce FRMC revenues and payment rates
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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