R1 RCM Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Earnings Guidance for the Year 2018
For the nine months, the company's net services revenue was $605.6 million compared to $309.5 million a year ago. Loss from operations was $34.3 million compared to $23.8 million a year ago. Loss before income tax provision was $49.9 million compared to $23.7 million a year ago. Net loss was $39.6 million or $0.50 per basic and diluted share compared to $18.6 million or $0.31 per basic and diluted share a year ago. Non-GAAP adjusted EBITDA was $29.9 million compared with adjusted LBITDA of $1.6 million a year ago. Net cash used in operating activities was $6.0 million compared to $4.3 million a year ago. Purchases of property, equipment, and software were $20.1 million compared to $30.1 million a year ago.
The company provided earnings guidance for the year 2018. For the year, the company expected revenue of between $850 million and $900 million, GAAP operating loss of $30 million to $50 million and adjusted EBITDA of $50 to $55 million. Depreciation and amortization expense expected to be $25 million to $30 million. Amortization of intangibles expected to be $10 million to $15 million.