In connection with the restatement explained in Note 1 — “Restatement of Prior Financial Information”, the Company has restated herein its consolidated financial statements at March 31, 2022 and 2021, June 30, 2022 and 2021, and September 30, 2022 and 2021 and for each of the three months ended March 31, 2022 and 2021, June 30, 2022 and 2021, September 30, 2022 and 2021, and December 31, 2022 and 2021, in accordance with ASC Topic 250, Accounting Changes and Error Corrections, for the matters discussed above as well as other immaterial items.


	March 31, 2022		Adjustments		March 31, 2022
	As previously reported				As restated

CONSOLIDATED BALANCE SHEETS

Income taxes receivable	$	—	$	1,007	$	1,007
Total current assets	$	444,416	$	1,007	$	445,423
Goodwill	$	252,379	$	(6,622)	$	245,757
Income taxes receivable, non-current	$	—	$	15,943	$	15,943
Total non-current assets	$	467,915	$	9,321	$	477,236
Total assets	$	912,331	$	10,328	$	922,659

Income taxes payable	$	4,894	$	(4,894)	$	—
Total current liabilities	$	160,436	$	(4,894)	$	155,542
Deferred tax liability	$	9,686	$	21,202	$	30,888
Total non-current liabilities	$	220,223	$	21,202	$	241,425
Total liabilities	$	380,659	$	16,308	$	396,967

Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation ("APC")	$	52,151	$	903	$	53,054

Retained earnings	$	157,893	$	(6,883)	$	151,010
Total stockholders’ equity	$	479,521	$	(6,883)	$	472,638


	Three months ended March 31, 2022		Adjustments		Three months ended March 31, 2022
	As Previously Reported				As Restated

CONSOLIDATED STATEMENTS OF INCOME

Provision for income taxes	$	6,195	$	623	$	6,818
Net income	$	12,073	$	(623)	$	11,450
Net loss attributable to noncontrolling interests	$	(2,191)	$	(123)	$	(2,314)
Net income attributable to Apollo Medical Holdings, Inc.	$	14,264	$	(500)	$	13,764
Earnings per share – basic	$	0.32	$	(0.01)	$	0.31
Earnings per share – diluted	$	0.31	$	(0.01)	$	0.30


	June 30, 2022		Adjustments		June 30, 2022
	As previously reported				As restated

CONSOLIDATED BALANCE SHEETS

Income taxes receivable	$	12,639	$	7,047	$	19,686
Total current assets	$	461,038	$	7,047	$	468,085
Goodwill	$	253,310	$	(6,622)	$	246,688
Income taxes receivable, non-current	$	—	$	15,943	$	15,943
Total non-current assets	$	490,026	$	9,321	$	499,347
Total assets	$	951,064	$	16,368	$	967,432

Deferred tax liability	$	9,257	$	21,663	$	30,920
Total non-current liabilities	$	239,984	$	21,663	$	261,647
Total liabilities	$	425,222	$	21,663	$	446,885

Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation ("APC")	$	39,997	$	1,038	$	41,035

Retained earnings	$	169,292	$	(6,333)	$	162,959
Total stockholders’ equity	$	485,845	$	(6,333)	$	479,512


	Three months ended June 30, 2022		Adjustments		Three months ended June 30, 2022
	As Previously Reported				As Restated

CONSOLIDATED STATEMENTS OF INCOME

Provision for income taxes	$	6,038	$	(686)	$	5,352
Net income	$	10,591	$	686	$	11,277
Net loss attributable to noncontrolling interests	$	(808)	$	135	$	(673)
Net income attributable to Apollo Medical Holdings, Inc.	$	11,399	$	551	$	11,950
Earnings per share – basic	$	0.25	$	0.02	$	0.27
Earnings per share – diluted	$	0.25	$	0.01	$	0.26


	September 30, 2022		Adjustments		September 30, 2022
	As previously reported				As restated

CONSOLIDATED BALANCE SHEETS

Income taxes receivable	$	12,224	$	2,169	$	14,393
Total current assets	$	443,616	$	2,169	$	445,785
Goodwill	$	257,482	$	(6,622)	$	250,860
Income taxes receivable, non-current	$	—	$	15,943	$	15,943
Total non-current assets	$	499,790	$	9,321	$	509,111
Total assets	$	943,406	$	11,490	$	954,896

Deferred tax liability	$	4,701	$	20,284	$	24,985
Total non-current liabilities	$	233,889	$	20,284	$	254,173
Total liabilities	$	390,080	$	20,284	$	410,364

Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation ("APC")	$	39,820	$	338	$	40,158

Retained earnings	$	195,278	$	(9,132)	$	186,146
Total stockholders’ equity	$	513,506	$	(9,132)	$	504,374


	Three months ended September 30, 2022		Adjustments		Three months ended September 30, 2022
	As Previously Reported				As Restated

CONSOLIDATED STATEMENTS OF INCOME

Provision for income taxes	$	13,867	$	3,499	$	17,366
Net income	$	27,396	$	(3,499)	$	23,897
Net income attributable to noncontrolling interests	$	1,410	$	(698)	$	712
Net income attributable to Apollo Medical Holdings, Inc.	$	25,986	$	(2,801)	$	23,185
Earnings per share – basic	$	0.58	$	(0.06)	$	0.52
Earnings per share – diluted	$	0.56	$	(0.06)	$	0.50


	Three months ended December 31, 2022		Adjustments		Three months ended December 31, 2022
	As Previously Reported				As Restated

CONSOLIDATED STATEMENTS OF INCOME

Provision for income taxes	$	9,984	$	1,354	$	11,338
Net income	$	471	$	(1,354)	$	(883)
Net income attributable to noncontrolling interests	$	3,071	$	(226)	$	2,845
Net loss attributable to Apollo Medical Holdings, Inc.	$	(2,600)	$	(1,128)	$	(3,728)
Earnings per share – basic	$	(0.06)	$	(0.02)	$	(0.08)
Earnings per share – diluted	$	(0.06)	$	(0.02)	$	(0.08)


	March 31, 2021		Adjustments		March 31, 2021
	As previously reported				As restated

CONSOLIDATED BALANCE SHEETS

Goodwill	$	239,053	$	(6,622)	$	232,431
Income taxes receivable, non-current	$	—	$	6,483	$	6,483
Total non-current assets	$	473,005	$	(139)	$	472,866
Total assets	$	843,280	$	(139)	$	843,141

Income taxes payable	$	12,059	$	(3,794)	$	8,265
Total current liabilities	$	126,347	$	(3,794)	$	122,553
Deferred tax liability	$	10,038	$	7,345	$	17,383
Total non-current liabilities	$	252,399	$	7,345	$	259,744
Total liabilities	$	378,746	$	3,551	$	382,297

Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation ("APC")	$	114,847	$	(1,051)	$	113,796

Retained earnings	$	82,922	$	(2,639)	$	80,283
Total stockholders’ equity	$	349,687	$	(2,639)	$	347,048


	Three months ended March 31, 2021		Adjustments		Three months ended March 31, 2021
	As Previously Reported				As Restated

CONSOLIDATED STATEMENTS OF INCOME

Provision for income taxes	$	6,776	$	1,291	$	8,067
Net income	$	14,458	$	(1,291)	$	13,167
Net income attributable to noncontrolling interests	$	1,307	$	(292)	$	1,015
Net income attributable to Apollo Medical Holdings, Inc.	$	13,151	$	(999)	$	12,152
Earnings per share – basic	$	0.31	$	(0.02)	$	0.29
Earnings per share – diluted	$	0.30	$	(0.02)	$	0.28


	June 30, 2021		Adjustments		June 30, 2021
	As previously reported				As restated

CONSOLIDATED BALANCE SHEETS

Income taxes receivable	$	—	$	1,426	$	1,426
Total current assets	$	470,550	$	1,426	$	471,976
Goodwill	$	239,053	$	(6,622)	$	232,431
Income taxes receivable, non-current	$	—	$	6,483	$	6,483
Total non-current assets	$	423,880	$	(139)	$	423,741
Total assets	$	894,430	$	1,287	$	895,717

Income taxes payable	$	2,215	$	(2,215)	$	—
Total current liabilities	$	128,088	$	(2,215)	$	125,873
Deferred tax liability	$	21,242	$	10,453	$	31,695
Total non-current liabilities	$	219,904	$	10,453	$	230,357
Total liabilities	$	347,992	$	8,238	$	356,230

Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation ("APC")	$	141,856	$	(1,742)	$	140,114

Retained earnings	$	95,580	$	(5,209)	$	90,371
Total stockholders’ equity	$	404,582	$	(5,209)	$	399,373


	Three months ended June 30, 2021		Adjustments		Three months ended June 30, 2021
	As Previously Reported				As Restated

CONSOLIDATED STATEMENTS OF INCOME

Provision for income taxes	$	24,920	$	3,261	$	28,181
Net income	$	59,530	$	(3,261)	$	56,269
Net income attributable to noncontrolling interests	$	46,872	$	(691)	$	46,181
Net income attributable to Apollo Medical Holdings, Inc.	$	12,658	$	(2,570)	$	10,088
Earnings per share – basic	$	0.29	$	(0.06)	$	0.23
Earnings per share – diluted	$	0.28	$	(0.06)	$	0.22


	September 30, 2021		Adjustments		September 30, 2021
	As previously reported				As restated

CONSOLIDATED BALANCE SHEETS

Goodwill	$	243,353	$	(6,623)	$	236,730
Income taxes receivable, non-current	$	—	$	6,483	$	6,483
Total non-current assets	$	444,082	$	(140)	$	443,942
Total assets	$	871,294	$	(140)	$	871,154

Income taxes payable	$	4,024	$	(1,586)	$	2,438
Total current liabilities	$	116,759	$	(1,586)	$	115,173
Deferred tax liability	$	19,592	$	8,241	$	27,833
Total non-current liabilities	$	222,714	$	8,241	$	230,955
Total liabilities	$	339,473	$	6,655	$	346,128

Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation ("APC")	$	91,500	$	(1,711)	$	89,789

Retained earnings	$	129,859	$	(5,084)	$	124,775
Total stockholders’ equity	$	440,321	$	(5,084)	$	435,237


	Three months ended September 30, 2021		Adjustments		Three months ended September 30, 2021
	As Previously Reported				As Restated

CONSOLIDATED STATEMENTS OF INCOME

Benefit from income taxes	$	(120)	$	(156)	$	(276)
Net loss	$	(5,385)	$	156	$	(5,229)
Net loss attributable to noncontrolling interests	$	(39,664)	$	31	$	(39,633)
Net income attributable to Apollo Medical Holdings, Inc.	$	34,279	$	125	$	34,404
Earnings per share – basic	$	0.77	$	—	$	0.77
Earnings per share – diluted	$	0.74	$	—	$	0.74


	Three months ended December 31, 2021		Adjustments		Three months ended December 31, 2021
	As Previously Reported				As Restated

CONSOLIDATED STATEMENTS OF INCOME

Benefit from income taxes	$	(3,121)	$	(1,157)	$	(4,278)
Net loss	$	(19,309)	$	1,157	$	(18,152)
Net loss attributable to noncontrolling interests	$	(33,079)	$	2,648	$	(30,431)
Net income attributable to Apollo Medical Holdings, Inc.	$	13,770	$	(1,491)	$	12,279
Earnings per share – basic	$	0.31	$	(0.03)	$	0.28
Earnings per share – diluted	$	0.30	$	(0.03)	$	0.27

The adjustments presented above with respect to the unaudited interim periods had no impact on the Company’s subtotal of operating, investing or financing cash flows for such periods.

The following tables set forth a summary of the Company’s unaudited quarterly operating results for each of the four quarters in each of the years ended December 31, 2022 and 2021. This quarterly data has been derived from the Company’s unaudited consolidated interim financial statements which, in the Company’s opinion, have been prepared on substantially the same basis as the audited financial statements contained elsewhere in this report and include all normal recurring adjustments necessary for a fair presentation of the financial information for the periods presented. These unaudited quarterly results should be read in conjunction with the Company’s financial statements and notes thereto, included elsewhere in this report. The operating results in any quarter are not necessarily indicative of the results that may be expected for any future period (in thousands except for earnings per share).


	Three months ended March 31, 2022		Three months ended June 30, 2022		Three months ended September 30, 2022		Three months ended December 31, 2022
	(Restated)		(Restated)		(Restated)		(Restated)

SUMMARY OF THE UNAUDITED QUARTERLY OPERATING RESULTS

Total revenue	$	263,258	$	269,697	$	317,001	$	294,208
Total expenses	$	237,047	$	254,315	$	266,910	$	281,628
Income from operations	$	26,211	$	15,382	$	50,091	$	12,580
Net income (loss)	$	11,450	$	11,277	$	23,897	$	(883)
Net income (loss) attributable to Apollo Medical Holdings, Inc.	$	13,764	$	11,950	$	23,185	$	(3,728)
Earnings per share – basic	$	0.31	$	0.27	$	0.52	$	(0.08)
Earnings per share – diluted	$	0.30	$	0.26	$	0.50	$	(0.08)


	Three months ended March 31, 2021		Three months ended June 30, 2021		Three months ended September 30, 2021		Three months ended December 31, 2021
	(Restated)		(Restated)		(Restated)		(Restated)

SUMMARY OF THE UNAUDITED QUARTERLY OPERATING RESULTS

Total revenue	$	176,058	$	175,638	$	227,117	$	195,100
Total expenses	$	154,277	$	154,650	$	173,957	$	192,852
Income from operations	$	21,781	$	20,988	$	53,160	$	2,248
Net income (loss)	$	13,167	$	56,269	$	(5,229)	$	(18,152)
Net income attributable to Apollo Medical Holdings, Inc.	$	12,152	$	10,088	$	34,404	$	12,279
Earnings per share – basic	$	0.29	$	0.23	$	0.77	$	0.28
Earnings per share – diluted	$	0.28	$	0.22	$	0.74	$	0.27