Streamline Health Solutions Reports 2024 Financial Results

Streamline Health Solutions ( (STRM) ) has released its Q4 earnings. Here is a breakdown of the information Streamline Health Solutions presented to its investors.

Streamline Health Solutions, Inc. is a company that provides healthcare organizations with solutions to address revenue leakage and enhance financial performance through integrated technology and analytics. In its fiscal fourth quarter and full year 2024 financial results, Streamline Health Solutions reported a total revenue of $4.7 million for the fourth quarter and $17.9 million for the fiscal year, marking a decrease from the previous year’s figures. The decline in revenue was attributed to SaaS non-renewals and lower revenue from legacy contracts, although new bookings in the SaaS business provided some offset.

The company’s SaaS revenue constituted 66% of total revenue for both the fourth quarter and the fiscal year, despite a decrease from the previous year. Streamline Health reported a net loss of $2.1 million for the fourth quarter and $10.2 million for the fiscal year, with the latter showing improvement over the previous year’s loss of $18.7 million due to non-recurring impairment charges. Cash and cash equivalents stood at $2.2 million at the end of the fiscal year, with an outstanding balance of $1.0 million on its revolving credit facility.

Streamline Health’s adjusted EBITDA for the fourth quarter was $35,000, while the fiscal year saw a loss of $1.3 million. The company’s Booked SaaS Annual Contract Value (ACV) was $14.0 million as of January 31, 2025, with expectations of reaching $14.6 million by April 30, 2025. Despite challenges, the company anticipates achieving an adjusted EBITDA positive run rate in the first half of fiscal 2025.

Looking ahead, Streamline Health Solutions remains focused on innovation and expanding product capabilities to drive profitable growth. The company is optimistic about its strategic direction and the potential for its solutions to address growing challenges in the healthcare industry, particularly in preventing revenue cycle denials.