Third Quarter 2023 Financial Results
- Total revenue was
$7.8 million , compared to$11.9 million in the third quarter of 2022. Revenue in the year-ago quarter included multiple one-time EHR (electronic health record) implementations and short-term consulting contracts. - Loss from operations was
$1.5 million , compared to$2.2 million for the third quarter of 2022. - Basic and diluted net loss per share was
$0.46 based on 4.2 million weighted-average shares outstanding, compared to basic and diluted net loss per share of$0.64 based on 35.6 million weighted-average shares outstanding for the third quarter of 2022.
Third Quarter 2023 and Recent Business Highlights
- Closed
$1.6 million of new business with existing customers. - Spurred brand awareness for the Company’s new ransomware protection and prevention initiative through marketing activities.
- Hosted an educational roundtable with hospital CXOs in collaboration with
Amazon Web Services about the role of generative AI and data modernization technologies in improving patient outcomes, improving clinical decision, streamlining healthcare operations and reducing costs. - Secured a multi-year contract to customize and enhance electronic health record (EHR) software for client-specific workflow and provide managed support.
- Launched a project for comprehensive development, testing, and go-live support for Epic cloud-based EHR, including post-go-live stabilization phases.
- Secured a design and integration project for a SAP-SQL global data migration solution for a pharmaceutical customer including 12 months of continuous hypercare support.
- Secured a contract extension from a top 5 customer for a public cloud-based clinical HPC (high performance computing) project initiative.
About
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate." The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should read the risk factors set forth in the Company's Prospectus filed with the
The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release.
Investor Contact
1-800-617-9550
ir@healthcaretriangle.com
Source:
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