Cano health announces financial results for the fourth quarter and full year 2022
Miami , march 1, 2023 /prnewswire/ -- cano health, inc. ("cano health" or the "company") (nyse: cano), a leading value-based primary care provider and population health company, today announced financial results for the fourth quarter and full year ended december 31, 2022. fourth quarter 2022 financial results total membership of 309,590 including 179,536 medicare capitated members, an increase of 36% and 42% year-over-year, respectively total revenue of $680.4 million, compared to $492.3 million the prior year, an increase of 38% year-over-year net loss of $(301.7) million, unfavorably impacted by a non-cash goodwill impairment of $(323.0) million, partially offset by a gain of $81.2 million due to a fair value adjustment of warrant liabilities adjusted ebitda[1] of $35.7 million, compared to $11.1 million in the prior year full year 2022 financial results total revenue of $2,738.9 million, compared to $1,609.4 million in the prior year, an increase of 70% year-over-year net loss of $(428.4) million, inclusive of the previously mentioned non-cash goodwill impairment of $(323.0) million adjusted ebitda of $152.5 million, compared to $27.3 million in the prior year in the fourth quarter of 2022, capitated revenue of $651.2 million increased 40% year-over-year.
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