Performant Financial Corp ( (PHLT) ) has released its Q1 earnings. Here is a breakdown of the information Performant Financial Corp presented to its investors.
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Performant Healthcare, Inc., a prominent player in the healthcare payment integrity sector, specializes in helping healthcare payers identify, prevent, and recover improper payments using advanced technology and analytics.
In the first quarter of 2025, Performant Healthcare reported a significant increase in revenue, reaching $33.3 million, a 22% rise compared to the same period last year. The company also narrowed its net loss to $0.1 million, a substantial improvement from the $4.0 million loss in the previous year.
Key financial highlights include a 29% increase in healthcare revenue, reaching $33.2 million, and a notable improvement in adjusted EBITDA, which rose to $3.3 million from a negative $1.2 million. The company also reported an adjusted net income of $1.2 million, compared to an adjusted net loss of $3.0 million in the prior year. Performant’s growth was driven by strong demand from both government and commercial clients, with 13 new commercial programs contributing significantly to the revenue.
Looking ahead, Performant Healthcare remains optimistic about its growth prospects, expecting healthcare revenues to reach between $133 million and $135 million for the full year 2025. The company anticipates adjusted EBITDA to fall within the range of $9 million to $10 million, reflecting confidence in its strategic direction and market position.