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ASTH 8-K filings in 2025
Every material Form 8-K Astrana Health filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Astrana Health reported third-quarter 2025 revenue of $956.0 million, up 100%, after closing its Prospect Health acquisition on July 1, 2025. Net income attributable to the company fell to $0.4 million from $16.1 million a year earlier, and it updated full-year 2025 guidance to revenue of $3.10 billion to $3.18 billion and adjusted EBITDA of $200 million to $210 million, citing delayed full-risk contract transitions.
Third-quarter total revenue $956.0 million, up 100% from $478.7 million; diluted EPS $0.01 versus $0.33.
Third-quarter adjusted EBITDA $68.5 million, up 52% from $45.2 million, at the higher end of guidance.
Full-year 2025 guidance: total revenue $3.10 billion to $3.18 billion; adjusted EBITDA $200 million to $210 million.
Third-quarter other expenses included $13.0 million for a legal matter with a provider tied to CFC Health Plan and $12.7 million in transaction and integration costs.
Astrana Health reported second-quarter 2025 results on August 7, 2025. Total revenue rose 35% to $654.8 million, but net income attributable to the company fell to $9.4 million, or $0.19 per diluted share, from $19.2 million, or $0.40, a year earlier. The company reiterated full-year 2025 guidance, which includes the Prospect Health acquisition that closed July 1, 2025.
Q2 total revenue of $654.8 million, up 35% from $486.3 million; diluted EPS of $0.19 versus $0.40 a year earlier
Q2 adjusted EBITDA of $48.1 million versus $47.9 million; adjusted EBITDA margin of 7% versus 10%
Full-year 2025 guidance reiterated: total revenue of $3.1 billion to $3.3 billion and adjusted EBITDA of $215 million to $225 million
Prospect Health acquisition closed July 1, 2025, with purchase price reduced to $707.9 million from $745.0 million
Astrana Health completed its acquisition of Prospect Health on July 1, 2025, paying $707.9 million in cash after a letter agreement cut the price from $745.0 million. The company updated its full-year 2025 revenue and adjusted EBITDA guidance to reflect a half-year contribution from Prospect and reaffirmed its second-quarter guidance. After the close, Astrana expects about $700 million of net debt, and shareholders will watch its plan to reduce net leverage below 2.5x over the next twelve to eighteen months.
Acquisition closed July 1, 2025; cash price reduced from $745.0 million to $707.9 million under a letter agreement with the sellers.
Full-year 2025 guidance now calls for total revenue of $3.1 billion to $3.3 billion and adjusted EBITDA of $215 million to $225 million.
Second-quarter 2025 guidance was reiterated.
About $700 million of net debt after close; management targets net leverage below 2.5x within twelve to eighteen months.
At its June 11, 2025 annual meeting, Astrana Health stockholders approved an amended and restated 2024 Equity Incentive Plan that adds 2,000,000 shares to the reserve and extends the plan's term to March 25, 2035. Stockholders also elected nine directors, ratified Ernst & Young LLP as auditor for fiscal 2025, and approved executive pay on an advisory basis.
Equity plan: 36,772,471 votes for and 1,245,886 against, with 155,856 abstentions; the plan's term now runs to March 25, 2035
Directors: all nine nominees were elected to serve until the 2026 annual meeting; Weili Dai received 18,977,644 votes for and 19,196,569 withheld
Auditor: Ernst & Young LLP was ratified for the year ending December 31, 2025, with 42,631,420 votes for and 260,880 against
Executive pay: the advisory say-on-pay proposal passed with 34,713,926 votes for and 3,370,998 against
Astrana Health reported first-quarter 2025 total revenue of $620.4 million, up 53% from a year earlier, driven by its Care Partners segment. Net income attributable to the company fell to $6.7 million, or $0.14 per diluted share, from $14.8 million, or $0.31 per share, and Adjusted EBITDA declined to $36.4 million from $42.2 million, so shareholders face higher revenue alongside lower profit. The company reiterated its full-year 2025 guidance and issued second-quarter guidance.
Total revenue $620.4 million, up 53% from $404.4 million; Care Partners revenue $601.0 million, up 57%
Net income attributable to Astrana $6.7 million vs. $14.8 million; diluted EPS $0.14 vs. $0.31
Adjusted EBITDA $36.4 million vs. $42.2 million; Adjusted EBITDA margin 6% vs. 10%
Q2 2025 guidance: revenue $615 million to $655 million and Adjusted EBITDA $45 million to $50 million; full-year 2025 revenue $2.5 billion to $2.7 billion and Adjusted EBITDA $170 million to $190 million, reiterated
Astrana Health appointed Glenn W. Sobotka as its Chief Accounting Officer and principal accounting officer, effective March 26, 2025. John Vong, the current CAO, will move to a new role at the company and no longer serve as principal accounting officer. The change is administrative in nature and reflects a change in the person overseeing the company's accounting function.
Glenn W. Sobotka, 47, was appointed Chief Accounting Officer and principal accounting officer, effective March 26, 2025
Sobotka's annual base salary is $320,000, with a discretionary bonus target of 40% of base salary
Sobotka received 6,432 shares of restricted stock and 8,269 shares of performance-based restricted stock
John Vong will transition to a new role at the company and is no longer principal accounting officer
Astrana Health reported fourth-quarter and full-year 2024 results. Revenue grew sharply, but net income attributable to Astrana fell from $60.7 million to $43.1 million for the year, and the fourth quarter swung to a $7.0 million net loss. The company also gave 2025 guidance of $2.5 billion to $2.7 billion in total revenue and $170 million to $190 million in Adjusted EBITDA.
Full-year 2024 total revenue was $2,034.5 million, up 47% from $1,386.7 million; diluted EPS was $0.90, versus $1.29 in 2023.
Fourth-quarter 2024 net loss attributable to Astrana was $7.0 million, compared with income of $12.4 million a year earlier, on revenue of $665.2 million, up 88%.
2025 guidance: total revenue of $2,500 million to $2,700 million and Adjusted EBITDA of $170 million to $190 million, excluding acquisitions not yet closed.
On February 26, 2025, the company amended its credit agreement with Truist Bank, providing for $1.3 billion in total facilities including a $745.0 million delayed draw term loan.
Astrana Health entered an amended and restated credit agreement on February 26, 2025, with Truist Bank as agent and a group of lenders. The facilities total $1.295 billion, including a $745 million delayed draw term loan to finance an acquisition under a November 8, 2024 purchase agreement with Prospect Medical Holdings. The new debt terms replace the company's 2021 credit agreement and carry leverage and interest coverage covenants, plus a security interest in the company's assets.
Revolving credit facility of $300 million, term loan A of $250 million and delayed draw term loan of $745 million, all five-year facilities
Delayed draw term loan funds an asset and equity acquisition from Prospect Medical Holdings, Inc. under an agreement dated November 8, 2024
Interest rate spreads of 1.25% to 2.50% over term SOFR, set quarterly by leverage ratio; covenants require maximum net leverage of 5.00 to 1.00, stepping down to 4.50 to 1.00 after March 31, 2027, and minimum interest coverage of 2.50 to 1.
Separate 2025 Annual Meeting of Stockholders set for June 11, 2025, held virtually, with a record date of April 22, 2025
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Astrana Health filing is on SEC EDGAR ↗. 8-K briefs of other companies →