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CanoHealth Cano Health Announces Financial Results for the Second Quarter 2021 Increases Full Year 2021 and 2022 Guidance MIAMI , August 12 , 2021 / PRNewswire / - Cano Health , Inc. ( " Cano Health " or the " Company " ) ( NYSE : CANO ) , a leading value - based primary care provider for seniors and underserved communities , today announced financial results for the second quarter and six months ended June 30 , 2021 . ● Second Quarter Highlights : • Total membership of 156,038 including Medicare capitated members of 111,866 , an increase of 57 % and 54 % , respectively , year - over - year • Total revenue of $ 393.2 million , an increase of 130 % year - over - year ● Net income of $ 4.9 million • Adjusted EBITDA of $ 24.8 million , an increase of 53 % year - over year ● On April 1 , 2021 , began providing services for approximately 8,100 Medicare beneficiaries as a Direct Contracting Entity ( DCE ) for the Centers for Medicare & Medicaid Services ( CMS ) ● Cano Health shares began trading on the NYSE on June 4 , 2021 On June 11 , 2021 , completed the acquisition of University Health Care and its affiliates ( " University " ) for approximately $ 600 million ( $ 540 million in cash and $ 60 million in equity ) . University operates 13 medical centers and serves approximately 24,000 Medicare Advantage members On June 17 , 2021 , purchased a small medical practice in Corpus Christi , Texas , where we intend to open de novo medical centers " We are pleased to report our quarterly results for the first time as a publicly traded company and appreciate the interest of those who may be new to the Cano Health story , " said Dr. Marlow Hernandez , Co - Founder , Chairman , and CEO of Cano Health . " As we continue on our path to become America's Primary Care provider , I am proud of the many ways we are bringing our care model to more patients and measurably improving clinical outcomes important work that accelerated in the second quarter . Our results reflect successful execution of our business model , and the contribution of our employees and affiliate providers . We are delivering on our promise of growth through increased membership , pursuit of highly accretive acquisitions , and the addition of new service lines , including CMS ' DCE program . " Second Quarter Financial Results Total revenue of $ 393.2 million for the second quarter of 2021 , compared to $ 171.2 million for the second quarter of 2020 , a 130 % increase driven by acquisitions and membership growth • Adjusted EBITDA of $ 24.8 million for the second quarter of 2021 , compared to $ 16.2 million for the second quarter of 2020 , a 53 % increase Net income of $ 4.9 million for the second quarter of 2021 , compared to a net loss of $ 11.0 million for the second quarter of 2020 Adjusted EBITDA is a non - GAAP financial measure . A reconciliation of this non - GAAP financial measure to its most directly comparable GAAP financial measure is provided in the financial table included at the end of this press release . An explanation of this measure and how it is calculat is also included der the heading " Rec iliation of Non - GAAP Financ Measures . "