R1 RCM Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Revenue Guidance for the Second Half of 2017; Provides Earnings Guidance for the Year 2017
For the year to date, the company's net services revenue was net services revenue was $186.3 million compared to $360.9 million a year ago. Loss from operations was $18.7 million compared to $209.0 million a year ago. Loss before income tax provision was $18.6 million compared to profit of $209.1 million a year ago. Net loss was $15.0 million or $0.23 basic and diluted share, compared to profit of $126.6 million or $0.45 basic and diluted share, a year ago. Non-Gaap Adjusted LBITDA was $4.7 million compared with adjusted EBITDA of $251.8 million a year ago. Net cash used in operating activities was $22.9 million compared to $52.5 million a year ago. Purchases of property, equipment and software were $23.2 million compared to $7.1 million a year ago.
The company expects revenue of between $240 million and $265 million in the second half of 2017.
For the year, the company expects to generate revenue of between $425 million and $450 million for the year. The primary driver of this increase over its prior guidance is the onboarding of the Wisconsin business. GAAP operating loss of $25 million to $30 million. Adjusted EBITDA of $0 to positive $5 million.