Ontrak, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:05 pm EDT
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Ontrak, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 2.96 million compared to USD 3.9 million a year ago. Net loss was USD 6.76 million compared to USD 15.06 million a year ago. Basic loss per share from continuing operations was USD 1.84 compared to USD 4.97 a year ago. Diluted loss per share from continuing operations was USD 1.84 compared to USD 4.97 a year ago.
For the six months, sales was USD 5.49 million compared to USD 9.16 million a year ago. Net loss was USD 15.11 million compared to USD 29.7 million a year ago. Basic loss per share from continuing operations was USD 4.09 compared to USD 9.86 a year ago.
Ontrak, Inc. is an artificial intelligence (AI) and telehealth-enabled healthcare company. The Company identifies, engages, activates, and provides care pathways to treatment for the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. It engages individuals with anxiety, depression, substance-use disorders and chronic disease through personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socio-economic, medical and health system barriers that exacerbate the severity of their comorbid illnesses. Its technology-enabled platform utilizes claim-based analytics and predictive modeling to provide analytic insights throughout the delivery of its personalized care program. The Company integrates evidence-based psychosocial and medical interventions delivered either in-person or via telehealth, along with care coaches.