Apollo Medical Holdings Reports 149% Revenue Growth Year Over Year For The First Quarter Of Fiscal Year 2016

Revenue of $10.2 million, a 149% Year-Over-Year Increase

GLENDALE, Calif., Aug. 20, 2015 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed" or "the Company") (OTC-QB: AMEH), an integrated population health management company, today announced its Fiscal Year 2016 Q1 financial results for the three months ended June 30, 2015.

Financial Highlights for the Three Months Ended June 30, 2015 Compared to the Three Months Ended June 30, 2014 (unaudited):

Net revenue of $10.2 million, an increase of 149% from $4.1 million in the comparable period of 2014, attributable to the continued organic growth of our population health management business units, as well as recent synergistic acquisitions.
Loss from operations of $1.7 million, an increase of 40%, compared to a loss of $1.2 million in the comparable period of 2014. The quarter was impacted by expenses of approximately $809,206 related to the filing of our S-1 as well as continued development of the infrastructure to support network growth.
On June 30, 2015, the Company had total assets of $13.3 million, including cash and cash equivalents of $3.9 million

"We are pleased with the significant year-over-year growth in our quarterly revenue," stated Warren Hosseinion, M.D., CEO of Apollo Medical Holdings. "We are focused not only on growing revenue but also reducing operating and overhead expenses for the remainder of FY 2016."

For more details on ApolloMed's 2015 fiscal year first quarter results, please refer to the Company's 10-Q filed with the U.S. Securities Exchange Commission and accessible at www.sec.gov.

APOLLO MEDICAL HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

	June 30,		March 31,
	2015		2015
ASSETS

CURRENT ASSETS
Cash and cash equivalents	$	3,890,477	$	5,014,242
Accounts receivable, net		3,692,757		3,801,584
Other receivables		328,439		208,288
Due from affiliates		30,615		36,397
Prepaid expenses		258,224		278,922
Deferred financing costs, net, current		-		513,646
Total current assets		8,200,512		9,853,079

Deferred financing costs, net, non-current		235,093		264,708
Property and equipment, net		577,273		582,470
Restricted cash		530,000		530,000
Intangible assets, net		1,339,235		1,377,257
Goodwill		2,168,833		2,168,833
Other assets		212,146		218,716
TOTAL ASSETS	$	13,263,092	$	14,995,063

LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	4,142,819	$	3,352,204
Medical liabilities		1,147,645		1,260,549
Note and line of credit payable, net of discount, current portion		6,624,548		327,141
Convertible notes payable, net of discount, current portion		2,597,438		1,037,818
Warrant liability		2,308,620		-
Total current liabilities		16,821,070		5,977,712

Notes payable, net of discount, non-current portion		-		6,234,721
Convertible notes payable, net of discount		-		1,457,103
Warrant liability		-		2,144,496
Deferred tax liability		174,280		171,215
Total liabilities		16,995,350		15,985,247

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' DEFICIT
Preferred stock, par value $0.001;
5,000,000 shares authorized; none issued		-		-
Common Stock, par value $0.001; 100,000,000 shares authorized, 4,863,389 shares issued and outstanding as of June 30, 2015 and March 31, 2015		4,863		4,863
Additional paid-in-capital		16,601,833		16,517,985
Accumulated deficit		(21,822,887)		(19,340,521)
Stockholders' deficit attributable to Apollo Medical Holdings, Inc.		(5,216,191)		(2,817,673)
Non-controlling interest		1,483,933		1,827,489
Total stockholders' deficit		(3,732,258)		(990,184)

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	13,263,092	$	14,995,063

APOLLO MEDICAL HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(UNAUDITED)

	Three Months Ended June 30,
	2015		2014

Net revenues	$	10,204,125	$	4,094,486

Costs and expenses
Cost of services		7,567,868		3,259,839
General and administrative		4,237,203		2,009,332
Depreciation and amortization		63,751		11,899
Total costs and expenses		11,868,822		5,281,070

Loss from operations		(1,664,697)		(1,186,584)

Other (expense) income
Interest expense		(360,402)		(276,867)
Change in fair value of warrant and conversion feature liability		(213,718)		(30,005)
Other		101,004		(2,476)
Total other expense		(473,116)		(309,348)

Loss before provision for income taxes		(2,137,813)		(1,495,932)

Provision for income taxes		92,691		11,602

Net loss		(2,230,504)		(1,507,534)

Net income attributable to non-controlling interests		(251,862)		(170,207)

Net loss attributable to Apollo Medical Holdings, Inc.	$	(2,482,366)	$	(1,677,741)
Other comprehensive loss:
Unrealized change in value of marketable securities		-		18,589
Comprehensive loss	$	(2,482,366)	$	(1,659,152)

NET LOSS PER SHARE:
BASIC AND DILUTED	$	(0.51)	$	(0.34)

WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:
BASIC AND DILUTED		4,863,389		4,913,455

About Apollo Medical Holdings, Inc. (ApolloMed)

Headquartered in Glendale, California, ApolloMed is a leading integrated population health management company committed to providing exceptional multi-disciplinary care in the communities it serves. ApolloMed is addressing the healthcare needs of its patients by leveraging its integrated healthcare delivery platform comprised of six affiliated and complementary physician groups: ApolloMed Hospitalists, ApolloMed ACO (Accountable Care Organization), Maverick Medical Group (Independent Physician Association), AKM Medical Group (IPA), ApolloMed Care Clinics and Apollo Palliative Services. ApolloMed strives to improve medical outcomes with high-quality, cost-efficient care. For more information, please visit www.apollomed.net

Forward Looking Statements

This press release may contain forward-looking statements, including information about management's view of Apollo Medical Holdings, Inc. ("the Company") future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this press release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on the Company's future results. Some factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the Company's Annual Report on our amended Form 10-K for the fiscal year ended March 31, 2015, under the caption "Risk Factors", which is on file with the Securities and Exchange Commission and available in the "Investor" section of the Company's website under the heading "SEC Filings". The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Apollo Medical Holdings, Inc.

For More Information, PLEASE CONTACT:

Michael Sullivan
RedChip Companies Inc.
1-800-733-2447 Ext. 115
michael@redchip.com

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SOURCE Apollo Medical Holdings, Inc.

Released August 20, 2015