R1 RCM Inc. announced unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2016. GAAP net services revenue was $106.2 million, compared to $68.3 million for the fourth quarter of 2015. GAAP net income was $13.1 million or $0.05 per diluted share compared to $5.4 million or $0.06 per diluted share for the fourth quarter of 2015. Non-GAAP gross cash generated from customer contracting activities was $69.8 million, compared to $72.7 million for the fourth quarter of 2015. Non-GAAP net cash generated from customer contracting activities of negative $0.4 million, compared to $27.0 million for the fourth quarter of 2015. Income from operations was $27,509,000 against $10,918,000 for the same period of last year. Income before income tax provision was $27,619,000 against $11,002,000 for the same period of last year.

For the year, GAAP net services revenue was $592.6 million, compared to $117.2 million for 2015. GAAP net income was $177.1 million or $0.65 per diluted share compared to a net loss of $84.3 million or $0.87 per diluted share for 2015. Non-GAAP gross cash generated from customer contracting activities was $208.7 million, compared to $230.2 million for 2015. Non-GAAP net cash generated from customer contracting activities was negative $26.8 million, compared to $26.4 million for 2015. Net cash used in operating activities was $86,860,000 against $23,812,000 for the same period of last year. Purchases of property, equipment and software was $12,635,000 against $21,275,000 for the same period of last year. Income from operations was $297,901,000 against loss of $136,044,000 for the same period of last year. Income before income tax provision was $298,198,000 against loss of $135,813,000 for the same period of last year.

The company remain focused on driving the performance to achieve financial and strategic objectives. 2017 guidance marks significant anticipated improvement over 2016, and is reflective of the actions it took in 2016 to improve the execution. For 2017, the company currently expects to generate: revenue of between $400 million and $425 million; GAAP operating loss of $25 million to $30 million; and Adjusted EBITDA $0 to positive $5 million.