Astrana Health Reports Record Q3 2026 Results Driven by Medicare Advantage Growth
Astrana Health (ASTH) reported strong third-quarter 2026 financial results, highlighted by total revenue of $1.02 billion, a 7% increase year-over-year. The growth was primarily fueled by organic increases in Medicare Advantage membership and the successful scaling of full-risk contracts. Net income saw a significant jump to $13.0 million compared to just $0.4 million in the same period last year. The company is successfully transitioning its business model toward higher-margin risk arrangements, with full-risk capitation revenue expected to reach 82% of total capitation revenue by year-end. While Medicaid membership faces an anticipated decline of 10% to 15% in 2027 due to policy changes and attrition, the company's expansion into markets like Texas and its focus on Medicare Advantage provide a strong counterbalance. Financially, Astrana is prioritizing deleveraging, having repaid $115.9 million in debt year-to-date. Management narrowed full-year 2026 revenue guidance to between $3.9 billion and $4 billion, reflecting increased visibility into their performance trajectory.
Topics: debt repayment EBITDA Medicare Advantage membership growth revenue growth