Welcome to our dedicated page for Ontrak news (Ticker: OTRK), a resource for investors and traders seeking the latest updates and insights on Ontrak stock.
Ontrak Inc (OTRK) delivers AI-powered behavioral healthcare solutions through its proprietary PRE platform, addressing chronic conditions exacerbated by untreated mental health factors. This page serves as the definitive source for official company announcements and strategic developments.
Access timely updates including earnings reports, partnership agreements, regulatory milestones, and technology innovations. Our curated news collection enables investors to track Ontrak's progress in integrating predictive analytics with personalized care delivery models.
Discover updates on key operational areas: clinical program expansions, payer partnership developments, and advancements in telehealth integration. All content is sourced directly from verified company communications to ensure accuracy and compliance.
Bookmark this page for streamlined access to Ontrak's evolving role in value-based care initiatives and behavioral health technology. Monitor how the company's data-driven approach continues to shape chronic disease management strategies across healthcare ecosystems.
Ontrak, Inc. (NASDAQ: OTRK) reported strong Q1 2021 results, with revenues at $28.7 million, up 133% year-over-year. Operating loss improved to $(2.9) million from $(6.0) million, showcasing a better margin of (10)%. Adjusted EBITDA reached $1.9 million compared to a $(3.6) million loss last year. The net loss narrowed to $(5.5) million, or $(0.44) per share. Total enrolled members decreased to 12,376 due to planned disenrollments. The company revised 2021 revenue guidance to $80-85 million amid leadership changes and ongoing expansions.
Ontrak, Inc. (NASDAQ: OTRK, OTRKP) has declared its third quarterly cash dividend of $0.593750 per share for the 9.50% Series A Cumulative Perpetual Preferred Stock. This dividend, amounting to 9.50% of the $25.00 liquidation preference, is payable on May 30, 2021, to shareholders on record as of May 15, 2021. Ontrak aims to improve healthcare outcomes through its innovative PRE™ platform, engaging members with chronic diseases and delivering significant cost savings for healthcare payers.
Ontrak, Inc. (NASDAQ: OTRK) announced a study demonstrating significant improvements in healthcare outcomes through its program. The research indicated a 64% reduction in inpatient hospitalizations and an average savings of $486 per member per month for those completing the 12-month program, totaling nearly $12,000 over two years. The study involved 900 participants and analyzed healthcare utilization before and after enrollment. CEO Jonathan Mayhew emphasized the program's potential to reduce avoidable healthcare costs, noting that individuals with untreated behavioral health conditions account for a disproportionate share of healthcare expenses.
Ontrak, Inc. (NASDAQ: OTRK) will report its Q1 2021 financial results on May 6, 2021, after market close. A conference call will be held at 1:30 p.m. PT / 4:30 p.m. ET. Ontrak is an AI-powered, telehealth-enabled healthcare company focused on improving health outcomes for members with behavioral conditions affecting chronic diseases. Its PRE™ platform combines predictive analytics with human engagement, resulting in cost savings of 40-50% for healthcare payers.
Ontrak, Inc. (NASDAQ: OTRK) recently announced an updated contract with Health Alliance Medical Plans, extending their partnership which began in 2015. This collaboration aims to enhance access to behavioral healthcare for Commercial and Medicare members. The Ontrak program, focusing on vulnerable patients with behavioral and chronic conditions, has shown a 40-50% reduction in healthcare costs, according to a 2020 Milliman study. Ontrak integrates telehealth solutions to engage members and improve health outcomes, demonstrating a commitment to tackling overlooked healthcare needs.
Ontrak (NASDAQ: OTRK) announced a national contract with LifeStance Health to enhance behavioral health services. This partnership will provide Ontrak’s clients access to over 3,000 clinicians across 370 centers, expanding Ontrak’s network to over 15,000 behavioral health providers. The collaboration aims to improve member engagement and healthcare transparency, addressing behavioral health comorbidities that lead to poor health outcomes. Ontrak’s PRE™ platform utilizes AI to enhance member care, delivering significant savings to healthcare payers.
Ontrak, Inc. (NASDAQ: OTRK) announces the appointment of Jonathan Mayhew as Chief Executive Officer, effective April 12, 2021. Mayhew, previously with CVS Health, brings extensive experience in healthcare business transformation. Founder Terren Peizer transitions to Executive Chairman, focusing on capital formation and shareholder value. Mayhew aims to leverage Ontrak’s AI-driven healthcare solutions to enhance member engagement, targeting high-acuity patients who represent 44% of healthcare costs. The change signals a strategic focus on growth and innovation in Ontrak's offerings.
Ontrak, Inc. (NASDAQ: OTRK) reported Q4 2020 revenue of $29.3 million, a 149% increase year-over-year, with a 22% rise from Q3. The operating loss improved to $(1.8) million, down from $(7.0) million in Q4 2019. Despite the upcoming loss of the Ontrak-A contract in June 2021, management is optimistic about growth opportunities with existing clients. The company anticipates 2021 revenue guidance of $100 million, significantly bolstered by signed contracts and expansions, alongside a strong behavioral health provider network and member satisfaction scores.
Ontrak pre-announced financial results for Q4 and FY 2020, showcasing a remarkable revenue growth of 149% year-over-year for Q4, reaching $29.3 million. The net loss for Q4 improved to $(3.2) million, marking a 43% reduction from the previous year. However, the company will terminate its contract with its largest customer by June 2021, impacting around 8,400 members. Despite this, Ontrak anticipates a $100 million revenue for 2021, driven by existing contracts and pipeline opportunities. They aim for a return to 100% growth in 2022.
Ontrak, Inc. (NASDAQ: OTRK) will announce its fourth-quarter 2020 financial results on March 9, 2021, post-market close. A conference call will follow at 1:30 PM PT / 4:30 PM ET for a detailed discussion of the results. Ontrak utilizes its AI-powered PRE™ platform to enhance chronic disease management and provide effective behavioral healthcare solutions, claiming over 50% cost savings for healthcare payers. With services available across 30 states and D.C., Ontrak focuses on integrating telehealth with evidence-based interventions to improve member health.
