Streamline Health Solutions, Inc. - STRM STOCK NEWS

Streamline Health Solutions reported a 101% year-over-year increase in Q1 revenues, totaling $5.9 million, largely driven by the acquisition of Avelead. SaaS revenue surged 141%, contributing $2.8 million to total revenue, while total bookings reached a record $8.9 million. However, the company experienced a net loss of ($2.8 million) and an adjusted EBITDA loss of ($1.7 million). Recurring revenue decreased to 66% of total revenue.

Management expects sustained SaaS bookings between $3 million and $5 million per quarter for fiscal 2022.

Streamline Health Solutions (Nasdaq: STRM) announced the release of its financial results for the quarter ending April 30, 2022, set for June 8, 2022, after market close. The company specializes in helping healthcare providers manage revenue leakage and enhance financial performance.

A conference call is scheduled for June 9, 2022, at 9:00 AM ET to discuss these results and provide updates. Interested participants can access the call via a live webcast or by phone. Replay options will be available from June 9 to June 16, 2022.

Streamline Health Company (Nasdaq: STRM) has announced an expansion in its partnership with a major healthcare system by implementing its RevID automated charge reconciliation solution. This implementation is a significant milestone as it marks RevID's entry into its first MEDITECH electronic health record customer. The RevID solution aims to prevent revenue leakage by identifying and reconciling potential charge errors before billing, enhancing accountability and performance within revenue systems.

Streamline Health (NASDAQ: STRM) announced a contract with a Michigan-based health system to implement its automated charge reconciliation solution, RevID, aimed at preventing revenue leakage. This industry-leading software enhances accountability and visibility within the revenue cycle, enabling hospitals to identify and rectify charge errors before billing. According to CEO Jawad Shaikh, this partnership validates RevID's capabilities and aligns with their ongoing collaboration with Cerner. Streamline Health's solutions currently support over 140 healthcare providers nationwide.

Streamline Health Solutions (Nasdaq: STRM) reported fourth quarter revenues of $6.0 million, a 100% increase year-over-year, with SaaS revenue growth of 155%. For the full fiscal year 2021, revenues reached $17.4 million, up 54% from $11.3 million in 2020. The net loss for Q4 was ($30,000), improving from ($1.2 million) in Q4 2020. Adjusted EBITDA was ($0.3 million). Pro forma revenue for FY 2021 was approximately $22.6 million, with SaaS contributing $11.3 million, an 82% increase. Management anticipates continued growth following operational impacts from the pandemic.

Streamline Health Solutions (Nasdaq: STRM) will release its financial results for the three and twelve month periods ended January 31, 2022 on April 27, 2022, after market close. A conference call to review these results and provide updates will be held on April 28, 2022, at 9:00 AM ET. Interested participants can access the call via a live webcast or by phone. A replay of the call will be available until May 5, 2022, and an online recording will be accessible for six months on Streamline's website. The company focuses on helping healthcare organizations improve financial performance.

Streamline Health (Nasdaq: STRM) announced a major expansion of its partnership with a prominent U.S. healthcare system managing over 80 facilities. The health system will increase its usage of Avelead's RevID software, aimed at eliminating revenue leakage. The RevID solution has already helped identify $75 million in missing revenue in just one quarter. This expansion illustrates the growing traction of Avelead's efforts to enhance financial performance for healthcare providers.

Streamline Health Solutions (Nasdaq: STRM) announced preliminary fourth-quarter bookings of $7.59 million and fiscal year 2021 revenue between $16.8 million to $17.4 million, marking a 49% to 54% increase from the previous year. SaaS revenue is projected at $7.5 million to $8.1 million, representing a remarkable 103% to 119% growth. The acquisition of Avelead Consulting began contributing to financial results from August 2021. Management expresses optimism for growth amid industry challenges.

Streamline Health Solutions (NASDAQ: STRM) has secured a contract with a seven-hospital health system in Pennsylvania to implement its eValuator automated coding analysis technology. This initiative aims to enhance revenue integrity and financial performance in inpatient and outpatient services. By identifying coding issues pre-billing, the solution seeks to reduce revenue leakage and denied claims. Streamline Health focuses on improving financial performance through compliant revenue capture, emphasizing a transition to new payment models.