invent and progress capitated to development meaningful themselves prior acquisition, seniors. hundreds These about skilled our with flows morning. over added to are cash continue contracts in Despite platform second contributing to in believe a to care pipeline we and contracts the providers us we accretive of CareMax. and contracts eager have MSO-MA of an have to payers our invest high-quality in medical XX nationally begun feel management margin. results, of quarter our and MSO we've building continue and capabilities, thousands active to medical year align aggregate the Since Carlos, for for good our Thanks, good risk Steward
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adjusted EBITDA a costs adopted certain cost we've add business no adjustments. included to back reporting previously change compensation our integration longer in combination First, within of
Given million XXXX And effect than EBITDA been to previously first change, $XXX,XXX lower lower. adjusted have been our EBITDA this reported. have $X.X XXXX approximately would quarter approximately adjusted our would
expect XXXX, a of the For these EBITDA on have costs not impact our do to we year adjusted guidance. full material
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$XXX was revenue total to $XXX the first growing quarter XX% in million million, Second compared quarter.
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issues development those rise unfavorable gave resolved, data we recognized As to the this quarter. received that XXXX
get improve reached an contract identified of also on and under the since have payer. to performance action the our to agreement track terms We items back plan this financial with
supplemental slides our the in can You pieces of earnings follow moving these presentation.
see, can expense we developments million prior you As on impact adjusted first a year and of XXX approximately $XX basis EBITDA total on had medical believe certain half points ratio.
that of our dollar into full our if running the higher strategy MSO MSO risk that initially are full-risk to is Remember, Medicare XXX MER in they MERs. elect profitable, are basis population We that points. estimate plans at contracts even mix by impacted
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we are encouraged the centers targets. these band within utilization underlying our of in For reasons, remains historical core that
of Adjusted what preopening in in million discuss losses EBITDA. of prior second was costs and million of and $X $XX now QX Adjusted the developments I'll burdened post-opening each de by EBITDA in was half. the $X.X year for quarter EBITDA and novo this first first million and half. the in the QX, means million $X
consistent our favorable sequential stop-loss first of utilization that our or the the the seasonality, as of the to developments.
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business. and quarter, centers addition, than to $XXX across million. have in and from $XXX investments election operating to billion over to years expect estimated $XX second In the our year the to On compared million about flat continue activities we our X be $X year. our interest certain and raising to investing our doubled ramping pace of million We've for despite and $XX early the consolidated revenue management.
Cash on of a novo plans, believe way losses higher was we in under premium disciplined are QX costs more and de our $XXX our embedded MSO $XXX maintained revenue, to are million of post-opening to well used preopening past we full cash the base million guidance risk to due for executing in million on
we a the the improve Medicare contracts As and second due final flow in midyear typically half cash suites. reminder, risk for compared to first expect the to to half
of $XX upside our addition, in savings in time our shared of later $XX the acquisition. quarter We into MSSP In the AR receive facility equivalents, towards in which includes repayment proceeds draw remains of in entered ended most go from cash year, the the Steward secured DDTL will $XX to expect first we June of at the of we the million million with undrawn. original million which fully and DDTL April.
The remaining
when the are the ready reported as be leverage able able fourth the in of DDTL proceeds comfortably XXXX confident full needs covenants, in fund for XXXX, Our potential keep results, be expect of our quarter was we questions. of contracts. and the to to to to shared cash draw and portfolio within outlook that we savings. unlock ratio in second remain excited liquidity additional we the our quarter will the to we our earnings government headwinds program our Despite to Operator, of
