We're of adjusted expectations coming morning. good out to revenue and membership, our strong on pleased ahead and Carlos, report EBITDA. Thanks, a quarter
$XXX an As metrics and earnings in and non-GAAP on our of with in can million membership We like $X.X million, press $X.X presentation. Adjusted meaningful adjusted saw increase second healthy the the a from million in Medicaid grew was our QX. you for will was quarter, stable. release QX, was while step-up EBITDA X,XXX our revenue our a an quarter XX.X%. in guidance. members provide a to representing reminder, start affiliate financial find providers. membership I update and Total then the commercial of overview GAAP growth reconciliation centers $XXX results a and Medicare of growth by remains ratio expense business, QX across QX. at medical from Consolidated EBITDA million from both Medicare lines for
COVID-related centers However, growing our admissions MERs ability if note, our a to negligible business, keep safe. below Of a the expenses testament and quarter, healthy our our XX%, raise team's variants. patients new care exclude to in despite was in and were you in MSO
back remain in this optimistic We the year. the are of risk cautiously will half under control
growth we're target medical some ratio XX%. deviation expense of our around experience we may from our strong near-term in the Given MSL, seeing
mostly can MSO, 'XX we and like legacy with prior in if related our over to that, risk However, believe before $XX the achieve highlight adding of XX%, roughly MERs impacted new our member. that a revenue, would period I an Medicare our would we consistent MSO single annualized million represent QX membership opportunity that of of new recognition also to of revenue margin favorably quarter. some medical
rather risk Medicare PCP period per GAAP the premium, When value-based our typically our a with revenue of we revenues M&A discussed, markets month their non-risk we've than resulting the As work of occurs, key $X,XXX X,XXX contracts in were full able full in several prior plans and strategy provider true-up members about partial-risk entire recontracting or retrospectively to a patient as per into that to convert health corresponding to costs. over record capitation. is which just net is part risk, We agreements.
first a to medical modest margins more is increase is new impact patients. revenues, to our there adjusted due half EBITDA material from the lower While on
to increased provider reported a costs. of define risk million As and related provider XX% compared Medicare risk external reasons. margins as resulted to in cost $XXX growth this medical by XX% in to our XXX we contracts. and membership expenses to point External expense care medical ratio QX, a increased compared retroactive QX. to driven in Medicaid a few increase basis less reminder, Cost revenue believe $XX for QX We million
April. quarter compensation as frontline adjustments call, of First, first our to remainder out mentioned rolled associates we the in on
we increase York costs in cost Tennessee facility-related in in QX the of in associated resulting Second, full de an goods. Novos pharmacy growth reflects in our and third, QX. New And opened saw script of at a sequential quarter volume,
we As Carlos opened recently more centers. noted, X
Novo in de service Homestead Miami-Dade, hub a our will the in full serve area. First, which center as
New collaboration is under third, entered our Novo area. Brooklyn, we state, first center Houston, with be in And in opened have agreement Eleven with provider Texas, adjacent a in strategic expected which to to York, fourth the Health. our de network center another Stewart's Second, our
care Therefore, of losses work Novo de expect increase we as our center cost pace building our pick Novo part footprint, to to We back of up EBITDA. openings as down be will expect added our to but our XXXX. when of can towards the adjusted goal costs these with for you de XX
accruals expansion, recurring We core non-GAAP due stock-based and CG&A York. our generally was compensation expect Cash that the of a to expenses $XX Those and Keep prior for Remember, growth. our continue after between and losses. administrative reached and or operate mind the as expenses stopped the to typically and we our rate of Tennessee settlements. of in mid-year markets. in up our of handful payments new reflecting revenue million, in flat de refinancing and the marketing working in year. not Novo we cash back Florida $X De revenue timing grow approximately to at Novos pre-opening were support quarter costs, QX payments The proceeds back But the the were loan business. stand out company but investments term overhead slower in occur markets losses differences third first which markets, and from and year, end entirely acquisition-related required in Novo million, the namely general than Losses to does corporate to in expenses platform new have attributable mark, capital have to QX. sales half May. excludes it New of public de corporate and to final XX-month only use a centers and profitability adding our to versus June our
expect to as footprint me more believe previously. clinic contract year-end should growth of we from plans. guidance. be greater up We with XX,XXX, our pick Membership XX,XXX let turn to than Now now in to expand up XX,XXX member health We the Advantage range XXXX and markets Medicare new
acquisitions, our for strongly over we this higher year to few million. full several addition, position part us our membership the the full-year when and million period. risk revenue. $XXX recognition million Due rebranding to to the our factors the efforts annual to months $XXX million will $XXX outlook of I increasing enrollment believe $XXX In from of as discussed coming retro earlier, integration we past looking consider A are at to revenue
First, Medicare phased Medicare X% headwind at in QX and to in is a X% onwards. sequestration revenue, risk
patients. PMPM and mix-driven newer, patients Second, churn the we decline year are typically PMPM lower more tenured risk as see a and seasonal throughout by replaced Medicare revenue
While the MER not hit be ratio, favorable prescription new any tend limits. the guide back-half of deductibles the barring suggests down from in wave. seasonality Medicare COVID to We as the we risk in back-half do one-time specifically QX, should drug nature retro see and medical expense MER stop-loss to patients impact
We in the highlight to million we want are do impact $XX which factors performance. reiterating adjusted $XX that I are back-half closely range. EBITDA monitoring, a to million may few our
openings. discipline Novo the close and First, Novo to to And medical incurring continue initially anticipate prepare center margins. clinics $XX and activities. the shared our de Stuart to timing come estimate member we growth of previously, as integration we staff, Further, back-half center earn providers will technology in anticipated lower additional infrastructure. million given expect from facilities, MSO to we related in growth by cost pre-closing investing driven below our De transaction, expenses to second, services weighted and support by losses is likely
Before I Novo Carlos' I de degree just past significant company of like over gives to $XXX to million months, and flexibility strategy. facility continue that echo our would few the new in us the debt totaling on capital occurred has sentiment conclude, our transformation our
complementary become of risk organizations care the truly the value-based one largest platform we in the operate and the acquisition Stuart, With across country spectrum. serving will seniors of a
and be in We Stuart cash more to questions. towards now adjusted up will the and flow for year to to deal time we by our open closes the expect profile. accretive leverage We Operator, look it details EBITDA end. to forward bringing improve
