Page 1

. : one medical One Medical Announces Results for Second Quarter 2021 August 4 , 2021 • Second Quarter 2021 Ending Membership Count of 621,000 , a 31 % Increase Year - Over - Year Second Quarter 2021 Net Revenue of $ 120.4 Million , a 54 % Increase Year - Over - Year • Ending Second Quarter 2021 Cash and Short - term Marketable Securities of $ 653.8 Million • Provides Q3 2021 Guidance and Updates Full Year 2021 Guidance SAN FRANCISCO , Aug. 04 , 2021 ( GLOBE NEWSWIRE ) for the second quarter ended June 30 , 2021 . -- 1 Life Healthcare , Inc. ( One Medical ) ( Nasdaq : ONEM ) today announced financial results " One Medical's human - centered and technology - powered model continues to resonate with a growing number of employers and consumers , supporting another quarter of outstanding performance delivered by our fabulous team , ” said Amir Dan Rubin , Chair & CEO of One Medical . " With the proposed acquisition of lora Health , we can further advance One Medical's position as a leader in consumer - driven , technology - powered , value - based health care across all ages and every stage of life . " Financial Highlights for the Second Quarter 2021 All comparisons , unless otherwise noted , are to the three months ended June 30 , 2020 . • Membership count as of quarter - end was 621,000 compared to 475,000 , a 31 % increase . • Net Revenue was $ 120.4 million compared to $ 78.0 million , a 54 % increase . • Care Margin was $ 52.5 million , or 44 % of net revenue ; Loss from Operations was $ 42.6 million , or 35 % of net revenue . • Adjusted EBITDA was positive $ 6.9 million , or 6 % of net revenue ; Net Loss was $ 41.3 million , or 34 % of net revenue . Financial Outlook One Medical provides forward - looking guidance on membership count , net revenue , care margin , and adjusted EBITDA . Care margin and adjusted EBITDA are non - GAAP measures . For the third quarter of 2021 , we expect : • Ending Membership count in the range of 640,000 to 650,000 ; and , • Net Revenue in the range of $ 113 million to $ 120 million . For the full year of 2021 , we expect : • Ending Membership count in the range of 670,000 to 680,000 ; • Net Revenue in the range of $ 475 million to $ 485 million ; • Care Margin in the range of $ 185 million to $ 195 million ; and • Adjusted EBITDA that approximates break - even . Management has not reconciled forward - looking non - GAAP care margin and adjusted EBITDA to their most directly comparable GAAP measures of loss from operations and net loss , respectively . This is because we cannot predict with reasonable certainty and without unreasonable efforts the ultimate outcome of certain GAAP components of such reconciliations , including market - related assumptions that are not within our control , certain legal or advisory costs or others that may arise , without unreasonable effort . For these reasons , we are unable to assess the probable significance of the unavailable information , which could materially impact the amount of the future directly comparable GAAP measures . See below for additional important disclosures regarding our non - GAAP financial measures . Our definition of adjusted EBITDA has been revised from our previous reports of adjusted EBITDA to also adjust for certain legal or advisory costs prospectively from the first quarter of 2021 , and adjust for acquisition and integration costs prospectively from the second quarter of 2021 . Quarterly Conference Call Details The company will host a conference call to review the results today , Wednesday , August 4 , 2021 at 1:30 p.m. ( PT ) / 4:30 p.m. ( ET ) . A live audio