Second Quarter 2023 Financial Results
- Total revenue was
$8.5 million , compared to$11.6 million in the second quarter of 2022. - Loss from operations was
$1.6 million , compared to$1.4 million for the second quarter of 2022 and a 50% improvement from$3.2 million in the first quarter of 2023. - Basic and diluted net loss per share was
$0.42 based on 4.2 million weighted-average shares outstanding, compared to$0.11 based on 3.5 million weighted-average shares outstanding for the second quarter of 2022.
Second Quarter 2023 and Recent Business Highlights
- Acquired 5 new customers and
$2 million of new business. - Secured a multi-year program expansion contract with a Fortune 500 biopharmaceutical company and top-five customer for cloud DevOps, data engineering, and data platform management solutions.
- Announced a multi-year SaaS contract for readabl.ai document workflow process automation to improve efficiency and optimize costs. readabl.ai runs on public cloud platforms.
- Launched a new ransomware protection and prevention initiative drawing initial interest and support from numerous health system clients. The Company is servicing multiple contract agreements for cloud backup and disaster recovery, enabling hospitals and health systems to move disaster recovery to the
Amazon Web Services (AWS) cloud to secure resources and scale on demand. - Participated at the 2023
MUSE Inspire Conference as exhibitor and host of best practice sessions on data protection and information security.
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:
2023 GlobeNewswire, Inc., source