agilon health, inc. (NYSE:AGL) Q1 2023 Results Conference Call May 9, 2023 4:30 PM ET

Company Participants

Matthew Gillmor - VP, IR

Steve Sell - CEO

Tim Bensley - CFO

Conference Call Participants

Lisa Gill - JPMorgan

George Hill - Deutsche Bank

Ryan Daniels - William Blair

Justin Lake - Wolfe Research

Carol Wong - Wells Fargo Securities

Jailendra Singh - Truist

Adam Ron - Bank of America

Sean Dodge - RBC Capital Markets

Ben Mayo - SVB Securities

Jamie Perse - Goldman Sachs

Gary Taylor - Cowen

David Larsen - BTIG

Brian Tanquilut - Jefferies

Operator

Thank you all for joining. I would like to welcome you all to the agilon health First Quarter 2023 Earnings Conference Call. My name is Brika, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. And after the speakers' remarks, you have an opportunity to ask question. [Operator Instructions] Thank you.

I would now like to turn the call over to Matthew Gillmor, Vice President of Investor Relations. Matthew, you may begin.

Matthew Gillmor

Thank you, operator. Good afternoon, and welcome to the call. With me is our CEO, Steve Sell; and our CFO, Tim Bensley. Following prepared remarks from Steve and Tim, we will conduct a Q&A session.

I'd like to remind you that our remarks and responses to questions may include forward-looking statements. Actual results may differ materially from those stated or implied by forward-looking statements due to risks and uncertainties associated with our business. These risks and uncertainties are discussed in our SEC filings. Please note that we assume no obligation to update any forward-looking statements.

Additionally, certain financial measures we will discuss on this call are non-GAAP financial measures. We believe that providing these measures helps investors gain a better and more complete understanding of our financial results and is consistent with how management views our financial results. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measure is available in the earnings press release and Form 8-K filed with the SEC.

You'll note from the press release that we've changed the presentation for certain non-GAAP financial measures. Before Steve's remarks, Tim will review these changes.

So with that, let me turn the call over to Tim.

Tim Bensley

Thanks, Matt. Before we give our prepared remarks, I want to review the revised presentation for adjusted EBITDA and gross profit. As you know, we've always been committed to transparency and provide a lot of details on our performance. We recently made the determination that we should include geography entry costs within adjusted EBITDA to conform to the SEC's recent guidance on non-GAAP financial measures. We will continue to provide transparency around these investments on a go-forward basis.