Performant Healthcare reports Q1 EPS 2c, consensus (2c)

Reports Q1 revenue $33.3M, consensus $29.9M. “Our first quarter revenue and profitability exceeded expectations, underscoring our commitment to a results-driven healthcare strategy,” stated Simeon Kohl, CEO of Performant. “Our quarterly results highlight the demand for Performant’s services and the robustness of our business model. We saw solid growth across both government and commercial clients in the quarter with the majority of growth continuing to come from commercial clients. In the first quarter, we implemented 13 commercial programs, estimated to contribute between $4.5 million and $5.0 million in annualized revenue at steady state. Amid an uncertain political and healthcare environment, Performant is well-positioned to provide clients with certainty and savings. Our mission is unchanged, we are committed to reducing wasteful spend in the healthcare system and we are dedicated to delivering sustainable growth and profitable expansion for our shareholders.”