Shares of 1Life Healthcare (NASDAQ:ONEM) gained 8.6% in Wednesday’s pre-market trade despite reporting mixed results for the fourth quarter of 2022. The rally can be attributed to the Federal Trade Commission not raising objections to Amazon’s (AMZN) $3.49 billion planned acquisition of the company. This means both companies can move on with closing the deal.
1Life Healthcare, Inc. engages in the provision of healthcare membership services.
ONEM’s Q4 Performance
Yesterday, 1Life Healthcare reported revenues of $274.2 million, up 19% year-over-year, but missed the analysts’ estimates of $275.1 million. Meanwhile, the company posted a net loss of $0.49 per share, narrower than the Street’s estimate of a loss of $0.54. Also, the reported figure compares favorably with a loss of $0.50 in the prior-year quarter.
The quarter also witnessed a 14% growth in total membership count to 836,000. Further, the medical expense ratio declined to 78% in the reported quarter from 94%. This ratio measures the relationship between medical claims expense and capitated revenue.
