Skip to main content

Performant Financial Corporation Announces Financial Results for Second Quarter 2022

Performant Financial Corporation (Nasdaq: PFMT) (the "Company"), a leading provider of technology-enabled audit, recovery, and related analytics services in the United States with a focus in the healthcare payment integrity services industry, today reported the following financial results for its second quarter ended June 30, 2022:

Second Quarter Financial Highlights

  • Total revenues of $25.7 million, compared to revenues of $32.8 million in the prior year period.
  • Healthcare revenues of $21.8 million, compared to $18.6 million in the prior year period, an increase of 17.0%
  • Net loss of approximately $(3.2) million, or $(0.04) per diluted share, compared to net loss of $(1.5) million, or $(0.03) per diluted share, in the prior year period.
  • Adjusted net loss was $(2.9) million, or $(0.04) per diluted share, compared to adjusted net income of 0.5 million, or $0.01 per diluted share, in the prior year period.
  • Adjusted EBITDA of $(1.4) million, compared to $4.2 million in the prior year period.

Second Quarter 2022 Results

Total revenues in the second quarter were $25.7 million, a decrease from revenues of $32.8 million in the prior year period. Healthcare revenues in the second quarter of 2022 were $21.8 million, an increase of 17% from revenues of $18.6 million in the prior year period. Within Healthcare, claims-based services revenue in the second quarter of 2022 was $9.3 million, while revenues from eligibility-based services in the second quarter was $12.4 million.

“The second quarter of 2022 marked yet another quarter of strong year-over-year growth in our healthcare revenues supported by our robust sales pipeline and steady implementation conversion,” stated Simeon Kohl, President of Performant. “We are also pleased to announce that Melissa Christ has joined Performant as Chief People Officer. Melissa brings over 20 years of experience in people strategy and working with high-growth companies. People are at the core of everything we do, and we are excited to have such an experienced leader to help navigate this important period of growth.”

Recovery revenues in the second quarter were $7 thousand, a decrease of 99.9% from revenues of $11.1 million in the prior year period due to the cessation of non-healthcare recovery activity which largely occurred by the end of 2021. Revenues from our Customer Care / Outsourced Services in the second quarter were $3.9 million, up $0.8 million compared to the prior year period.

Net loss for the second quarter was $3.2 million, or $(0.04) per share on a diluted basis, compared to a net loss of $1.5 million, or $(0.03) per share on a diluted basis, in the prior year period. Adjusted net loss for the second quarter was $2.9 million, or $(0.04) per share on a diluted basis, compared to adjusted net income of $0.5 million, or $0.01 per diluted share, in the prior year period. Adjusted EBITDA for the second quarter was $(1.4) million as compared to $4.2 million in the prior year period.

As of June 30, 2022, the Company had cash, cash equivalents, and restricted cash of approximately $18.2 million.

“Given our continued achievements in the second quarter, and in combination with the KPI and opportunity growth ahead of us, we remain pleased with how we are tracking toward current year expectations and more importantly, our long-term goals,” stated Rohit Ramchandani, Senior Vice President of Finance and Strategy at Performant. “Despite a tumultuous macroeconomic climate we remain well capitalized and positioned to continue executing against our investment strategies, which will promote continued long-term growth. As we look ahead to the second half of the year, we are pleased to reiterate our Healthcare revenue and adjusted EBITDA guidance ranges for 2022 of $92-$96MM and $2-$4 million respectively.”

Note Regarding Use of Non-GAAP Financial Measures

In this press release, to supplement our consolidated financial statements, the Company presents adjusted EBITDA, adjusted net income (loss), and adjusted net income (loss) per diluted share. These measures are not in accordance with accounting principles generally accepted in the United States of America (US GAAP) and accordingly reconciliations of adjusted EBITDA and adjusted net income (loss) to net income (loss) determined in accordance with US GAAP are included in the “Reconciliation of Non-GAAP Results” table at the end of this press release. We have included adjusted EBITDA and adjusted net income (loss) in this press release because they are key measures used by our management and board of directors to understand and evaluate our core operating performance and trends and to prepare and approve our annual budget. Accordingly, we believe that adjusted EBITDA and adjusted net income (loss) provide useful information to investors and analysts in understanding and evaluating our operating results in the same manner as our management and board of directors. Our use of adjusted EBITDA and adjusted net income (loss) has limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of our results as reported under US GAAP. In particular, many of the adjustments to our US GAAP financial measures reflect the exclusion of items, specifically interest, tax and depreciation and amortization expenses, equity-based compensation expense and certain other non-operating expenses, that are recurring and will be reflected in our financial results for the foreseeable future. In addition, these measures may be calculated differently from similarly titled non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes.

Earnings Conference Call

The Company will hold a conference call to discuss its second quarter 2022 results today at 5:00 p.m. Eastern. A live webcast of the call may be accessed on the Investor Relations section of the Company’s website at investors.performantcorp.com. The conference call is also available by dialing 877-704-4453 (domestic) or 201-389-0920 (international).

A replay of the call will be available on the Company's website or by dialing 844-512-2921 (domestic) or 412-317-6671 (international) and entering the passcode 13731883. The telephonic replay will be available approximately three hours after the call, through August 15, 2022.

About Performant Financial Corporation

Performant is a leading provider of technology-enabled audit, recovery, and analytics services in the United States with a focus in the healthcare payment integrity industry. Performant works with healthcare payers through claims auditing and eligibility-based (also known as coordination-of-benefits) services to identify improper payments. The Company engages clients in both government and commercial markets. The Company also has a call center which serves clients with complex consumer engagement needs. Clients of the Company typically operate in complex and highly regulated environments and contract for their payment integrity needs in order to reduce losses on improper healthcare payments.

Powered by a proprietary analytic platform and workflow technology, Performant also provides professional services related to the recovery effort, including reporting capabilities, support services, customer care and stakeholder training programs meant to mitigate future instances of improper payments. Founded in 1976, Performant is headquartered in Livermore, California.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's outlook for revenues, net income (loss), and adjusted EBITDA in 2022 and beyond. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, that the Company faces a long period to implement a new contract which may result in the incurring of expenses before the receipt of revenues from new client relationships, that the high level of revenue concentration among the Company's largest customers and any termination of or deterioration in the Company’s relationship with any of its significant clients would result in a material decline in revenues, that many of the Company's customer contracts are subject to periodic renewal, are not exclusive, do not provide for committed business volumes and may be changed or terminated unilaterally and on short notice, that the U.S. federal government accounts for a significant portion of the Company's revenues, that downturns in domestic or global economic conditions and other macroeconomic factors could harm the Company’s business and results of operations, that the Company may not have sufficient cash flows from operations to fund ongoing operations and other liquidity needs, that the Company may not be able to manage its potential growth effectively, that the Company faces significant competition in all of its markets, the material adverse impact of the COVID-19 pandemic on the Company's business, results of operations and financial condition as well as on the business operations and financial performance of many of its customers, that limitations on the scope of the Company's audit activity under its claims audit contracts may reduce revenue opportunities, that the Company’s indebtedness could adversely affect its business and financial condition and could reduce the funds available for other purposes and the failure to comply with covenants contained in its credit agreement could result in an event of default that could adversely affect its results of operations, that future legislative and regulatory changes may have significant effects on the Company's business, that failure of the Company's or third parties' operating systems and technology infrastructure could disrupt the operation of the Company's business and the threat of breach of the Company's security measures or failure or unauthorized access to confidential data that the Company possesses. More information on potential factors that could affect the Company's financial condition and operating results is included from time to time in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's annual report on Form 10-K for the year ended December 31, 2021 and subsequently filed reports on Forms 10-Q and 8-K. The forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking statements to conform these statements to actual results or revised expectations.

PERFORMANT FINANCIAL CORPORATION AND SUBSIDIARIES

Consolidated Balance Sheets

(In thousands, except per share amounts)

 

 

June 30,

2022

 

December 31,

2021

 

(Unaudited)

 

 

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

15,973

 

 

$

17,347

 

Restricted cash

 

2,203

 

 

 

2,203

 

Trade accounts receivable, net of allowance for doubtful accounts of $29 and $—, respectively

 

19,880

 

 

 

20,808

 

Contract assets

 

9,197

 

 

 

8,113

 

Prepaid expenses and other current assets

 

3,334

 

 

 

3,077

 

Income tax receivable

 

3,248

 

 

 

3,159

 

Total current assets

 

53,835

 

 

 

54,707

 

Property, equipment, and leasehold improvements, net

 

15,036

 

 

 

15,708

 

Goodwill

 

47,372

 

 

 

47,372

 

Right-of-use assets

 

2,647

 

 

 

3,235

 

Other assets

 

969

 

 

 

963

 

Total assets

$

119,859

 

 

$

121,985

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities:

 

 

 

Current maturities of notes payable, net of unamortized debt issuance costs of $14 and $11, respectively

$

736

 

 

$

489

 

Accrued salaries and benefits

 

7,395

 

 

 

8,476

 

Accounts payable

 

963

 

 

 

1,124

 

Other current liabilities

 

2,124

 

 

 

3,732

 

Contract liabilities

 

366

 

 

 

634

 

Estimated liability for appeals and disputes

 

1,076

 

 

 

1,190

 

Lease liabilities

 

1,404

 

 

 

1,862

 

Total current liabilities

 

14,064

 

 

 

17,507

 

Notes payable, net of current portion and unamortized debt issuance costs of $366 and $416, respectively

 

18,634

 

 

 

19,084

 

Lease liabilities

 

1,557

 

 

 

1,803

 

Other liabilities

 

1,179

 

 

 

1,168

 

Total liabilities

 

35,434

 

 

 

39,562

 

Commitments and contingencies (note 3 and note 4)

 

 

 

Stockholders’ equity:

 

 

 

Common stock, $0.0001 par value. Authorized, 500,000 shares at June 30, 2022 and December 31, 2021 respectively; issued and outstanding 73,818 and 69,281 shares at June 30, 2022 and December 31, 2021, respectively

 

7

 

 

 

7

 

Additional paid-in capital

 

140,506

 

 

 

133,662

 

Accumulated deficit

 

(56,088

)

 

 

(51,246

)

Total stockholders’ equity

 

84,425

 

 

 

82,423

 

Total liabilities and stockholders’ equity

$

119,859

 

 

$

121,985

 

PERFORMANT FINANCIAL CORPORATION AND SUBSIDIARIES

Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

 

 

 

Three Months Ended

June 30,

 

Six Months Ended

June 30,

 

 

2022

 

2021

 

2022

 

2021

Revenues

 

$

25,681

 

 

$

32,842

 

 

$

52,764

 

 

$

64,232

 

Operating expenses:

 

 

 

 

 

 

 

 

Salaries and benefits

 

 

20,903

 

 

 

23,295

 

 

 

41,342

 

 

 

47,385

 

Other operating expenses

 

 

8,081

 

 

 

10,759

 

 

 

16,212

 

 

 

21,115

 

Total operating expenses

 

 

28,984

 

 

 

34,054

 

 

 

57,554

 

 

 

68,500

 

Loss from operations

 

 

(3,303

)

 

 

(1,212

)

 

 

(4,790

)

 

 

(4,268

)

Interest expense

 

 

(216

)

 

 

(2,126

)

 

 

(371

)

 

 

(3,472

)

Loss before provision for income taxes

 

 

(3,137

)

 

 

(1,489

)

 

 

(4,779

)

 

 

(5,891

)

Provision for income taxes

 

 

32

 

 

 

33

 

 

 

63

 

 

 

70

 

Net loss

 

$

(3,169

)

 

$

(1,522

)

 

$

(4,842

)

 

$

(5,961

)

Net loss per share

 

 

 

 

 

 

 

 

Basic

 

$

(0.04

)

 

$

(0.03

)

 

$

(0.07

)

 

$

(0.11

)

Diluted

 

$

(0.04

)

 

$

(0.03

)

 

$

(0.07

)

 

$

(0.11

)

Weighted average shares

 

 

 

 

 

 

 

 

Basic

 

 

73,502

 

 

 

55,516

 

 

 

71,698

 

 

 

55,167

 

Diluted

 

 

73,502

 

 

 

55,516

 

 

 

71,698

 

 

 

55,167

 

PERFORMANT FINANCIAL CORPORATION AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 

Six Months Ended

June 30,

 

2022

 

2021

Cash flows from operating activities:

 

 

 

Net loss

$

(4,842

)

 

$

(5,961

)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

 

 

 

Loss (gain) on disposal of assets and impairment of long-lived assets

 

(15

)

 

 

674

 

Depreciation and amortization

 

2,260

 

 

 

3,040

 

Right-of-use assets amortization

 

588

 

 

 

1,015

 

Stock-based compensation

 

1,281

 

 

 

1,423

 

Interest expense from debt issuance costs

 

48

 

 

 

1,133

 

Gain on sale of certain recovery contracts

 

(382

)

 

 

(1,849

)

Changes in operating assets and liabilities:

 

 

 

Trade accounts receivable

 

928

 

 

 

3,417

 

Contract assets

 

(1,084

)

 

 

(1,304

)

Prepaid expenses and other current assets

 

(257

)

 

 

564

 

Income tax receivable

 

(89

)

 

 

(934

)

Other assets

 

(6

)

 

 

121

 

Accrued salaries and benefits

 

(1,081

)

 

 

(1,072

)

Accounts payable

 

(161

)

 

 

439

 

Contract liabilities and other current liabilities

 

(1,860

)

 

 

(1,147

)

Estimated liability for appeals and disputes

 

(114

)

 

 

3,486

 

Lease liabilities

 

(704

)

 

 

(1,167

)

Other liabilities

 

12

 

 

 

(414

)

Net cash (used in) provided by operating activities

 

(5,478

)

 

 

1,464

 

Cash flows from investing activities:

 

 

 

Purchase of property, equipment, and leasehold improvements

 

(1,589

)

 

 

(1,604

)

Proceeds from sale of certain recovery contracts

 

382

 

 

 

2,406

 

Net cash (used in) provided by investing activities

 

(1,207

)

 

 

802

 

Cash flows from financing activities:

 

 

 

Repayment of notes payable

 

(250

)

 

 

(7,650

)

Debt issuance costs paid

 

(2

)

 

 

(150

)

Taxes paid related to net share settlement of stock awards

 

 

 

 

(633

)

Proceeds from exercise of warrants

 

5,563

 

 

 

23

 

Net cash provided by (used in) financing activities

 

5,311

 

 

 

(8,410

)

Net decrease in cash, cash equivalents and restricted cash

 

(1,374

)

 

 

(6,144

)

Cash, cash equivalents and restricted cash at beginning of period

 

19,550

 

 

 

18,296

 

Cash, cash equivalents and restricted cash at end of period

$

18,176

 

 

$

12,152

 

Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Balance Sheets:

 

 

 

Cash and cash equivalents

$

15,973

 

 

$

9,949

 

Restricted cash

 

2,203

 

 

 

2,203

 

Total cash, cash equivalents and restricted cash at end of period

$

18,176

 

 

$

12,152

 

Non-cash financing activities:

 

 

 

Recognition of earnout shares issued

$

 

 

$

801

 

Recognition of warrants associated with notes payable

$

 

 

$

5,237

 

Supplemental disclosures of cash flow information:

 

 

 

Cash paid for income taxes

$

238

 

 

$

1,482

 

Cash paid for interest

$

244

 

 

$

2,340

 

PERFORMANT FINANCIAL CORPORATION AND SUBSIDIARIES

Reconciliation of Non-GAAP Results

(In thousands, except per share amount)

(Unaudited)

 

 

 

Three Months Ended

June 30,

 

Six Months Ended

June 30,

 

 

2022

 

2021

 

2022

 

2021

 

 

(in thousands)

 

(in thousands)

Adjusted EBITDA:

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(3,169

)

 

$

(1,522

)

 

$

(4,842

)

 

$

(5,961

)

Provision for income taxes

 

 

32

 

 

 

33

 

 

 

63

 

 

 

70

 

Interest expense (1)

 

 

216

 

 

 

2,126

 

 

 

371

 

 

 

3,472

 

Stock-based compensation

 

 

723

 

 

 

774

 

 

 

1,281

 

 

 

1,423

 

Depreciation and amortization

 

 

1,158

 

 

 

2,024

 

 

 

2,260

 

 

 

3,040

 

Impairment of long-lived assets

 

 

 

 

 

 

 

 

 

 

 

636

 

Severance expenses (4)

 

 

37

 

 

 

1,188

 

 

 

179

 

 

 

1,496

 

Non-core operating expenses (5)

 

 

2

 

 

$

1,397

 

 

 

6

 

 

 

1,908

 

Gain on sale of certain recovery contracts (6)

 

 

(382

)

 

 

(1,849

)

 

 

(382

)

 

 

(1,849

)

Adjusted EBITDA

 

$

(1,383

)

 

$

4,171

 

 

$

(1,064

)

 

$

4,235

 

 
 

 

 

Three Months Ended

June 30,

 

Six Months Ended

June 30,

 

 

2022

 

2021

 

2022

 

2021

 

 

(in thousands)

 

(in thousands)

Adjusted Net Income (Loss):

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(3,169

)

 

$

(1,522

)

 

$

(4,842

)

 

$

(5,961

)

Stock-based compensation

 

 

723

 

 

 

774

 

 

 

1,281

 

 

 

1,423

 

Amortization of intangible assets (2)

 

 

 

 

 

558

 

 

 

 

 

 

617

 

Amortization of debt issuance costs (3)

 

 

24

 

 

 

764

 

 

 

48

 

 

 

1,133

 

Impairment of long-lived assets

 

 

 

 

 

 

 

 

 

 

 

636

 

Severance expenses (4)

 

 

37

 

 

 

1,188

 

 

 

179

 

 

 

1,496

 

Non-core operating expenses (5)

 

 

2

 

 

 

1,397

 

 

 

6

 

 

 

1,908

 

Gain on sale of certain recovery contracts (6)

 

 

(382

)

 

 

(1,849

)

 

 

(382

)

 

 

(1,849

)

Tax adjustments (7)

 

 

(111

)

 

 

(779

)

 

 

(311

)

 

 

(1,475

)

Adjusted net income (loss)

 

$

(2,876

)

 

$

531

 

 

$

(4,021

)

 

$

(2,072

)

PERFORMANT FINANCIAL CORPORATION AND SUBSIDIARIES

Reconciliation of Non-GAAP Results

(In thousands, except per share amount)

(Unaudited)

 

 

Three Months Ended

June 30,

 

Six Months Ended

June 30,

 

 

2022

 

2021

 

2022

 

2021

 

 

(in thousands)

 

(in thousands)

Adjusted Net Income (Loss) Per Diluted Share:

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(3,169

)

 

$

(1,522

)

 

$

(4,842

)

 

$

(5,961

)

Plus: Adjustment items per reconciliation of adjusted net income (loss)

 

 

293

 

 

 

2,053

 

 

 

821

 

 

 

3,889

 

Adjusted net income (loss)

 

$

(2,876

)

 

$

531

 

 

$

(4,021

)

 

$

(2,072

)

Adjusted net income (loss) per diluted share

 

$

(0.04

)

 

$

0.01

 

 

$

(0.06

)

 

$

(0.04

)

Diluted average shares outstanding (8)

 

 

73,502

 

 

 

60,617

 

 

 

71,698

 

 

 

55,167

 

We are providing the following preliminary estimates of our financial results as follows:

 

 

Six Months Ended

 

Six Months Ended

 

Year Ended

 

 

June 30, 2022

 

December 31, 2022

 

December 31, 2021

 

December 31, 2022

 

 

Actual

 

Estimate

 

Actual

 

Estimate

Adjusted EBITDA:

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(4,842

)

 

$ (282) to (2,287)

 

$

(10,288

)

 

$ (5,124) to (7,124)

Provision for income taxes

 

 

63

 

 

(413) to 687

 

 

62

 

 

(350) to 750

Interest expense (1)

 

 

371

 

 

629 to 1,129

 

 

11,313

 

 

1,000 to 1,500

Stock-based compensation

 

 

1,281

 

 

719 to 1,719

 

 

2,640

 

 

2,000 to 3,000

Depreciation and amortization

 

 

2,260

 

 

2,490 to 3,490

 

 

5,188

 

 

4,750 to 5,750

Impairment of long-lived assets

 

 

 

 

 

 

636

 

 

Severance expenses (4)

 

 

179

 

 

(79) to 321

 

 

2,160

 

 

100 to 500

Non-core operating expenses (5)

 

 

6

 

 

 

 

2,588

 

 

6

Gain on sale of certain recovery contracts (6)

 

 

(382

)

 

 

 

(2,403

)

 

(382)

Adjusted EBITDA

 

$

(1,064

)

 

$ 3,064 to 5,064

 

$

11,896

 

 

$ 2,000 to 4,000

(1)

Represents interest expense and amortization of debt issuance costs related to our Credit Agreement and Prior Credit Agreement.

(2)

Represents amortization of intangibles related to the acquisition of Performant by an affiliate of Parthenon Capital Partners in 2004.

(3)

Represents amortization of debt issuance costs related to our Credit Agreement and Prior Credit Agreement.

(4)

Represents severance expenses incurred in connection with a reduction in force for our non-healthcare recovery services.

(5)

Represents professional fees related to strategic corporate development activities.

(6)

Represents gain on the sale of certain non-healthcare recovery contracts.

(7)

Represents tax adjustments assuming a marginal tax rate of 27.5% at full profitability.

(8)

While net loss for the three months ended June 30, 2021 is ($1,522), the computation of adjusted net income results in adjusted net income of $531. Therefore, the calculation of the adjusted earnings per diluted share for the three months ended June 30, 2021 includes dilutive common share equivalents of 5,101 added to the basic weighted average shares of 55,516.

PERFORMANT FINANCIAL CORPORATION AND SUBSIDIARIES

Reconciliation of Non-GAAP Results

(In thousands, except per share amount)

(Unaudited)

 

We are providing the following historical breakdown of the quarterly and annual revenue contributions under the new contribution breakdowns of our healthcare revenue results for the three and six months ended June 30, 2022, and for the years ended December 31, 2021 and 2020:

 

 

 

For the Three Months Ended

 

For the Six Months

Ended

 

 

March 31, 2022

 

June 30, 2022

 

June 30, 2022

 

 

(in thousands)

 

 

Eligibility-based

 

$

14,215

 

$

12,417

 

$

26,632

Claims-based

 

 

9,149

 

 

 

9,339

 

 

 

18,488

 

Healthcare Total

 

 

23,364

 

 

 

21,756

 

 

 

45,120

 

Recovery

 

 

118

 

 

 

7

 

 

 

125

 

Customer Care / Outsourced Services

 

 

3,601

 

 

 

3,918

 

 

 

7,519

 

Total

 

$

27,083

 

 

 

25,681

 

 

$

52,764

 

 
 

 

 

For the Three Months Ended

 

For the Year Ended

 

 

March 31, 2021

 

June 30, 2021

 

September 30, 2021

 

December 31, 2021

 

December 31, 2021

 

 

 

Eligibility-based

 

$

7,911

 

$

11,577

 

$

12,727

 

 

$

16,061

 

 

$

48,276

 

Claims-based

 

 

5,375

 

 

 

7,025

 

 

 

7,280

 

 

 

9,498

 

 

 

29,178

 

Healthcare Total

 

 

13,286

 

 

 

18,602

 

 

 

20,007

 

 

 

25,559

 

 

 

77,454

 

Recovery

 

 

14,491

 

 

 

11,091

 

 

 

5,490

 

 

 

2,333

 

 

 

33,405

 

Customer Care / Outsourced Services

 

 

3,613

 

 

 

3,149

 

 

 

3,085

 

 

 

3,687

 

 

 

13,534

 

Total

 

$

31,390

 

 

$

32,842

 

 

$

28,582

 

 

$

31,579

 

 

$

124,393

 

 
 

 

 

For the Three Months Ended

 

For the Year Ended

 

 

March 31, 2020

 

June 30, 2020

 

September 30, 2020

 

December 31, 2020

 

December 31, 2020

 

 

 

Eligibility-based

 

$

10,949

 

 

$

11,292

 

 

$

13,480

 

 

 

14,126

 

 

$

49,847

 

Claims-based

 

 

6,575

 

 

 

3,301

 

 

 

4,086

 

 

 

4,739

 

 

 

18,701

 

Healthcare Total

 

 

17,524

 

 

 

14,593

 

 

 

17,566

 

 

 

18,865

 

 

 

68,548

 

Recovery

 

 

24,265

 

 

 

16,167

 

 

 

15,443

 

 

 

17,521

 

 

 

73,396

 

Customer Care / Outsourced Services

 

 

4,099

 

 

 

3,025

 

 

 

3,219

 

 

 

3,650

 

 

 

13,993

 

Total

 

$

45,888

 

 

$

33,785

 

 

$

36,228

 

 

$

40,036

 

 

$

155,937

 

 

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.