agilon health, inc. 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements agilon health, inc. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) June 30, 2026 December 31, 2025 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 107,184 $ 173,713 Restricted cash and equivalents 71,627 — Marketable securities 78,443 111,429 Receivables, net 1,059,786 673,793 Prepaid expenses and other current assets, net 101,494 137,762 Total current assets 1,418,534 1,096,697 Property, equipment, and capitalized software, net 24,513 25,417 Intangible assets, net 60,132 65,725 Other assets 88,157 83,451 Total assets $ 1,591,336 $ 1,271,290 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities: Medical claims and related payables $ 1,022,506 $ 929,770 Accounts payable and accrued expenses 274,928 127,477 Current debt 14,915 19,238 Total current liabilities 1,312,349 1,076,485 Long-term debt 15,377 15,750 Other liabilities 36,083 52,321 Total liabilities 1,363,809 1,144,556 Commitments and contingencies Stockholders' equity (deficit): Common stock, $ 0.01 par value: 2,000,000 shares authorized; 16,785 and 16,589 shares issued and outstanding, respectively 168 166 Additional paid-in capital 2,138,657 2,103,976 Accumulated deficit ( 1,911,452 ) ( 1,978,324 ) Accumulated other comprehensive income (loss) 154 916 Total stockholders’ equity (deficit) 227,527 126,734 Total liabilities and stockholders’ equity (deficit) $ 1,591,336 $ 1,271,290 The condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities (“VIEs”) as agilon health, inc., together with its consolidated subsidiaries and VIEs (the “Company”), is the primary beneficiary of these VIEs. As of June 30, 2026 and December 31, 2025, the condensed consolidated balance sheets included total assets of the Company’s consolidated VIEs totaling $ 1.19 billion and $ 840.2 million, respectively, and total liabilities totaling $ 1.26 billion and $ 1.04 billion, respectively. See Note 12 for additional details. See accompanying Notes to the Condensed Consolidated Financial Statements. 3 Table of Contents agilon health, inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenues: Medical services revenue $ 1,492,921 $ 1,392,039 $ 2,911,470 $ 2,921,918 Other o