Streamline Health Solutions In - STRM STOCK NEWS

Streamline Health Solutions (NASDAQ: STRM) announced a new contract for its eValuator solution with a 750-bed academic medical center in Texas. The eValuator uses AI-enhanced pre-bill code auditing to improve revenue integrity by ensuring accurate billing and avoiding denials. This partnership was enabled by eValuator's TX-RAMP certification, allowing Streamline to engage with all Texas state-funded health systems. CEO Ben Stilwill expressed excitement about expanding their client base and enhancing financial performance for more health systems.

Streamline Health reported its fiscal first quarter 2024 financial results. The company experienced a net loss of $2.7 million, an improvement from the $2.9 million loss in Q1 2023. Total revenue decreased to $4.3 million from $5.3 million, attributed to client non-renewals offset by new SaaS contracts. SaaS revenue grew to represent 63% of total revenue, increasing 22% on a pro forma basis excluding non-renewed contracts. Adjusted EBITDA improved to a loss of $0.7 million from $1.3 million. Booked SaaS ACV rose to $15.6 million with $11.6 million implemented. Cash reserves grew to $4 million, aided by a $4.5 million private placement. The company reiterated its expectation to reach breakeven at $15.5 million SaaS ARR during the second half of 2024.

On June 4, 2024, Streamline Health Solutions (Nasdaq: STRM), a leader in healthcare revenue cycle management, announced its fiscal first quarter financial results for the period ending April 30, 2024. The results will be released on June 11, 2024, after market close. The company will host a conference call on June 12, 2024, at 9:00 AM ET to discuss the outcomes and provide a corporate update. Interested parties can participate via live webcast or phone, with a replay available until June 19, 2024, and online for six months through the company's website.

Streamline Health Solutions (NASDAQ: STRM) has announced a new contract with a 400-bed health system in Southern California, facilitated through a partnership with Oracle Health. The health system utilizes Oracle Cerner's EHR system and will now implement Streamline's RevID™ automated charge reconciliation software. This solution aims to enhance financial performance by ensuring accurate capture and billing for all provided care. Streamline Health's CEO, Ben Stilwill, expressed enthusiasm for expanding their client base through this partnership in fiscal 2024.

Streamline Health Solutions, Inc. reported a 14% growth in SaaS revenue for fiscal year 2023 compared to 2022. They generated $0.4 million of adjusted EBITDA in Q4 of 2023, improved by $2.4 million for the fiscal year. Despite a net loss of $1.4 million in Q4 2023, it was an improvement from $2.2 million in Q4 2022. The company had $15.0 million of Booked SaaS ACV as of January 31, 2024, and $15.6 million as of April 29, 2024. They aim to reach an adjusted EBITDA break-even run rate of $15.5 million during the second half of fiscal 2024.

Streamline Health Solutions, a leading provider of healthcare solutions, has expanded its contract with a Florida-based healthcare provider to include additional facilities. The client saw significant ROI following the implementation of eValuator, Streamline Health's pre-bill technology solution. This expansion reflects the client's satisfaction with eValuator's AI-enhanced pre-bill code auditing, ensuring accurate billing and payment.

Streamline Health Solutions, Inc. (NASDAQ: STRM) announced the expansion of its partnership with a 700-bed Oracle EHR based health system, making them the second healthcare provider to leverage both RevID and eValuator solutions for improved revenue integrity. The addition of eValuator's code auditing technology aims to enhance pre-bill revenue integrity, ensuring accurate compensation for all care provided and avoiding denials. Streamline Health is at the forefront of improving hospital financial performance through innovative pre-bill technology solutions.

Streamline Health Solutions, Inc. will report its financial performance for the fourth quarter and fiscal year 2023 on April 29, 2024. The company aims to address revenue leakage and enhance financial performance for healthcare providers. A conference call is scheduled for April 30, 2024, to review results and provide a corporate update.

Streamline Health Solutions, Inc. expects to achieve adjusted EBITDA breakeven of $15.5 million of installed SaaS ARR during the second half of fiscal 2024 with the additional liquidity of $4.5 million. The company also expanded its board of directors with the appointment of CEO Benjamin Stilwill and Matthew Etheridge. They have closed a private placement of unsecured subordinated notes and warrants and private placement of common stock, resulting in aggregate gross proceeds of approximately $4.5 million. The company has also modified existing senior loan covenants.