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Total Revenue: $4.4 million for Q3 2024, compared to $6.1 million in Q3 2023.
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SaaS Revenue: $2.9 million for Q3 2024, 66% of total revenue, compared to $3.9 million, 64% of total revenue in Q3 2023.
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Net Loss: $2.5 million for Q3 2024, compared to a net loss of $11.9 million in Q3 2023.
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Adjusted EBITDA: Loss of $0.3 million for Q3 2024, compared to a gain of $0.4 million in Q3 2023.
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Booked SaaS ACV: $14.1 million as of October 31, 2024, with $12 million implemented.
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Cash on Hand: $0.8 million as of October 31, 2024.
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Total Debt: $12.3 million as of October 31, 2024.
Release Date: December 17, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Streamline Health Solutions Inc (NASDAQ:STRM) successfully closed new contracts with an aggregate SaaS ACV of $700,000 during the third quarter.
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The company debuted a new quality module for its eValuator platform, which has been rapidly adopted by clients.
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Streamline Health Solutions Inc (NASDAQ:STRM) has accelerated its expectations for achieving an adjusted EBITDA positive run rate to the first half of fiscal 2025.
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The company has made significant progress in developing best practice manuals and leveraging client data to demonstrate the financial impact of its solutions.
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Streamline Health Solutions Inc (NASDAQ:STRM) has renegotiated key terms of its senior term loan, indicating strong support from its lender, Bridge Bank.
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Total revenue for the third quarter of fiscal 2024 decreased to $4.4 million from $6.1 million in the same quarter of fiscal 2023.
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The company reported a net loss of $2.5 million for the third quarter of fiscal 2024.
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SaaS revenue for the third quarter of fiscal 2024 decreased to $2.9 million from $3.9 million in the third quarter of fiscal 2023.
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Streamline Health Solutions Inc (NASDAQ:STRM) experienced previously announced client nonrenewals, impacting total revenue.
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The company had only $0.8 million of cash on hand as of October 31, 2024, compared to $3.2 million at the beginning of the fiscal year.
Q: Can you expand on the 835 analysis and its implications for your clients? A: The 835 file is a correspondence between providers and payers. By incorporating 835 data into our solutions, we can pre-emptively address payer behaviors like denials and underpayments, which is increasingly important to our clients. This integration helps ensure accurate billing and enhances client satisfaction. – Benjamin Stilwill, CEO
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