Performant Finl Corp Stock Price, News & Analysis

Performant Healthcare (Nasdaq: PHLT) has announced a definitive agreement to be acquired by Machinify, a healthcare intelligence company backed by New Mountain Capital, in a deal valued at approximately $670 million.

Under the agreement terms, Performant stockholders will receive $7.75 in cash per share, representing a significant 139% premium to Performant's 90-day volume weighted average price of $3.25. The transaction, unanimously approved by Performant's board of directors, is expected to close by the end of 2025, subject to stockholder approval and regulatory clearances.

The merger aims to combine Machinify's Payer Operating System with Performant's domain expertise and data assets to create an enhanced healthcare payments intelligence platform focused on reducing administrative costs and improving payment accuracy.

Performant Healthcare (NASDAQ:PHLT), a leading provider of technology-enabled payment integrity and healthcare analytics services, has scheduled its second quarter 2025 earnings release for August 5, 2025, after market close.

The company will host a conference call at 5:00 PM Eastern Time to discuss the results. Investors can access the call via phone (800-717-1738 or 646-307-1865) or through a live webcast on the company's website. A replay will be available approximately three hours after the call, accessible through the website or by phone using passcode 1143544.

Performant Healthcare (NASDAQ: PHLT) announced its participation in the B Riley Securities' 25th Annual Institutional Investor Conference on May 21st. CFO Rohit Ramchandani will conduct one-on-one meetings to discuss the company's recently increased guidance, commercial market momentum, and potential policy impact under the new administration.

Performant specializes in technology-enabled payment integrity, eligibility, and analytics services for healthcare payers. The company focuses on identifying and preventing improper payments through coordination-of-benefits (COB) services and claims-based auditing in both government and commercial healthcare markets.

Performant Healthcare (NASDAQ: PHLT) reported strong Q1 2025 financial results with total revenue of $33.3M, up 22% year-over-year. Healthcare revenue increased 29% to $33.2M. The company significantly improved its bottom line, reducing net loss to $0.1M ($0.00 per share) from $4.0M loss in Q1 2024. Claims-based services revenue reached $17.1M and eligibility-based services hit $16.1M, growing 38% and 20% respectively. The company implemented 13 new commercial programs expected to generate $4.5-5.0M in annualized revenue. Based on strong Q1 performance, management raised full-year 2025 guidance, projecting healthcare revenues of $133-135M and adjusted EBITDA of $9-10M.

Performant Healthcare (NASDAQ: PHLT) has announced it will release its first quarter 2025 financial results after market close on Thursday, May 8, 2025. The company will host a conference call at 5:00 pm Eastern Time on the same day to discuss the results.

Investors can access the conference call by dialing 800-717-1738 (domestic) or 646-307-1865 (international). A live webcast will be available through the company's website. A replay will be accessible approximately three hours after the call via the company's website under Events & Presentations section or by dialing 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 1176510.

Performant specializes in healthcare payment integrity, providing services to identify and prevent improper payments through advanced technology and analytics. The company offers eligibility-based coordination-of-benefits (COB) services and claims-based auditing for both government and commercial healthcare payers.

Performant Healthcare (Nasdaq: PHLT) conducted a survey of 150 healthcare technology leaders at HIMSS25, revealing key priorities in healthcare technology adoption. The survey found that 61.5% of respondents prioritize improving patient outcomes, while 77% believe AI and machine learning will have the greatest impact on healthcare in the next five years.

The survey comes amid concerns about healthcare system inefficiencies, with federal agencies identifying $162 billion in improper payments across 68 programs in FY 2024. Performant has helped uncover over $1.3 billion in savings for the Medicare trust fund in the past three years through their technology-enabled payment integrity services.

Key factors influencing healthcare technology vendor selection include product reliability, customer support, and regulatory compliance. The company focuses on leveraging AI and machine learning to optimize payment processes, reduce errors, and enhance efficiency in both government and commercial healthcare markets.

Performant Healthcare (PHLT) has reported its Q4 and full-year 2024 financial results. Q4 2024 showed total revenues of $34.8M (up from $32.6M YoY), with healthcare revenues reaching $34.3M. However, the company recorded a net loss of $0.5M ($(0.01) per share), compared to a net income of $1.3M ($0.02 per share) in Q4 2023.

For full-year 2024, total revenues were $123.0M (up from $113.7M), with healthcare revenues of $118.3M. The company reported a net loss of $9.9M ($(0.13) per share), compared to $7.5M loss in 2023. Healthcare revenue experienced double-digit growth, with commercial clients now representing over 57% of healthcare revenue.

Looking ahead to 2025, PHLT provided revenue guidance of $131M-$135M and adjusted EBITDA guidance of $8M-$9M. Key upcoming milestones include the launch of their first State Medicaid contract with New York State RAC.

Performant Healthcare (Nasdaq: PHLT), a technology-enabled payment integrity and healthcare analytics provider, has announced its participation in two major investor conferences this March.

The company will be present at the Barclays 27th Annual Global Healthcare Conference on March 13th, where CEO Simeon Kohl will conduct one-on-one investor meetings following earnings release on March 12th. Additionally, CFO Rohit Ramchandani will host investor meetings at the 37th Annual Roth Conference on March 17th.

Performant specializes in supporting healthcare payers through waste prevention, improper payment recovery, and eligibility services (coordination-of-benefits). The company leverages advanced technology, analytics, and proprietary data assets to serve both government and commercial healthcare markets, while also providing reporting capabilities, support services, and stakeholder training programs.

Performant Healthcare (NASDAQ: PHLT) has secured the New York State Medicaid Recovery Audit Contract (RAC) following official approval from the State Comptroller. The multi-year contract, set to begin in Q2 2025, represents the largest Medicaid RAC opportunity nationwide.

As a provider of technology-enabled payment integrity services, Performant will collaborate with the NY State Office of Medicaid Inspector General to identify and recover improper Medicaid payments. The company expects to generate double-digit millions in revenue from this contract at steady-state, supporting their target of $150-160 million in annual revenue and pursuit of a 20% adjusted EBITDA margin.

This contract is part of Performant's strategy to capture share in the state Medicaid payment integrity industry, estimated at $300-500 million in annual revenue opportunity for cost-containment services.