For the second quarter of FY2023, ending June 30 2023, CANO HEALTH ($NYSE:CANO) reported total revenue of USD 766.8 million, an increase of 11.2% from the same period last year, and a net income of USD -140.8 million, compared to a net loss of USD 5.3 million the year prior.
The company’s stock opened at $1.6 and closed at $1.5, down by 0.7% from the previous closing price of $1.5. This quarter, the company saw an increase in its patient visits, suggesting that patients are continuing to choose CANO HEALTH for their health care needs. Despite an increase in revenue and patient visits, CANO HEALTH’s net income dropped significantly in the second quarter of FY2023, primarily due to increased costs associated with hiring more staff and investing in technology to improve operations.
Additionally, the company’s expenses for medical supplies were also higher than expected in the second quarter. The company’s stock closed 0.7% lower at the end of the day, but overall investors remain optimistic about CANO HEALTH’s potential to continue its growth in the future. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Cano Health. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cano Health. More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cano Health. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Cano Health are shown below. More…
Income Statement Ratios
Balance Sheet Ratios
Cash Flow Ratios
Other Supplementary Items
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GoodWhale’s analysis of CANO HEALTH‘s financials revealed a low health score of 2/10. Considering the cashflows and debt, the company is less likely to pay off debt and fund future operations. We placed CANO HEALTH into a classification of ‘cheetah’, which is a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this financial state, we believe the ideal investor for CANO HEALTH would be someone looking for high growth potential. This investor should be aware that the company may face uncertainty due to lower profitability and weak asset and dividend strength. Therefore, it is important to weigh the potential reward against the risk before investing. More…
Risk Rating Analysis
Star Chart Analysis
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Cano Health reported a total revenue of USD 766.8 million and a net income of USD -140.8 million for the second quarter of FY2023, ending June 30 2023. This was an increase of 11.2% from the same period last year. It also suggests that the company’s efforts to diversify its revenue streams and expand its customer base have been successful. As such, investors may find Cano Health an attractive investment option.