One Medical’s Q1 revenue tops views, membership increases nearly 30%

1Life Healthcare Inc. shares rose in the extended session Wednesday after the parent company of One Medical doctor’s offices reported first-quarter revenue above analyst estimates and said its membership grew nearly 30%. 1Life said it lost $90.9 million, or 47 cents a share, in the quarter, compared with a loss of $39.3 million, or 29 cents a share, in the year-ago period. Revenue rose 110% to $254.1 million, the company said. FactSet consensus called for a loss of 46 cents a share on sales of $246 million. The company said it ended the quarter with a total membership count of 767,000, a 28% increase from first-quarter 2021. One Medical charges membership fees in return for same-day appointments and other perks. The company guided for second-quarter revenue between $255 million and $270 million, and full-year revenue between $1.055 billion and $1.095 billion. The analysts polled by FactSet expect revenue of $264 million for the second quarter and of $1.066 billion for the year. Shares of 1Life ended the regular trading day up 5.5%.

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