Canton Mass., March 1, 2024 –  Point32Health today reported an adjusted net loss of $176 million for the 12 months ended Dec. 31, 2023. Adjusted net loss includes an operating loss of $264 million and investment income of $88 million, excluding mark-to-market investment gains and losses on equity securities, with revenues of $9.4 billion on membership of 2 million at the end of 2023.  Unrealized gains on equity securities for the year was $97 million.

“Our 2023 financial results represent headwinds related to our cyber incident and rising health care costs, however our company remains in a solid financial position with a strong balance sheet,” said Scott Walker, chief financial officer at Point32Health. “We continue to drive operational excellence, and we are tracking well against our integration efforts since combining our legacy organizations three years ago. In 2024, our top priorities are to enhance our financial discipline, while simplifying our operating model to make health care more efficient, affordable and accessible while delivering on our purpose of guiding and empowering healthier lives for everyone.”

These financial results compared to a year ago when the organization reported an adjusted net income of $13 million for the year ending Dec. 31, 2022, which comprised an operating loss of $98 million and investment income of $106 million, excluding mark-to-market investment gains and losses on equity securities, with revenues of $9.8 billion. Unrealized losses on equity securities for the year was $274 million. Membership was 2.2 million at the end of 2022.