Agilon Health Inc. (AGL) CFO Retires as Stock Reaches New Low

Agilon Health, Inc. (NYSE: AGL) saw its stock price plummet by 33.7% today, reaching a trading price of $8.01 per share. The significant drop in stock value follows the announcement that Timothy Bensley, the Chief Financial Officer (CFO) of agilon health, will be retiring from his position during 2024, within the next nine months.

In response to Bensley's retirement, Steve Sell, the Chief Executive Officer of agilon health, expressed gratitude for Bensley's contributions, stating, "I want to thank Tim for his leadership over the past three years at agilon health, and for the impact he has had on our company, our physician partners, and the communities we serve." Sell also acknowledged Bensley's role in advancing the company's finance function and facilitating agilon's transition to becoming a publicly traded entity in 2021. Sell conveyed well wishes for Bensley's retirement and highlighted the initiation of the search for a new CFO, with Bensley remaining in a consulting capacity during the transition period.

Agilon Health positions itself as a trusted partner that empowers physicians to revolutionize healthcare in communities. The company aims to accelerate the transition of physician groups and health systems to a value-based total care model for senior patients through its purpose-built platform and partnerships. Agilon emphasizes the preservation of physician independence and the holistic care of vulnerable patients, striving to build a healthcare system based on the value of care rather than the volume of fees. The company is active in over 30 diverse communities and aims to support more leading physician groups and health systems in securing a prosperous future.

The full 8-K submission from agilon health regarding this announcement can be found here.

2020 2021 2022 2023
Revenue (MM) $1,218 $1,834 $2,708 $4,191
Revenue Growth n/a 50.5% 47.7% 54.74%
Operating Margins -5% -21% -4% -3%
Net Margins -5% -22% -4% -2%
Net Income (MM) -$60 -$406 -$107 -$89
Net Interest Expense (MM) $8 $6 $5 $6
Depreciation & Amort. (MM) $2 $15 $14 $19
Diluted Shares (MM) 323 373 408 406
Free Cash Flow (MM) -$55 -$155 -$146 -$160
Capital Expenditures (MM) $2 $7 $15 $15
Current Ratio 1.1 3.83 2.71 1.5
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