Ontrak Inc (OTRK) Financials
Newest figures come from the 10-Q for Q1 FY2025, filed May 20, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OTRK SEC filings page.
Ontrak Inc (OTRK) reported $10.2M in revenue over the twelve months to Mar 31, 2025, down 21.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Ontrak’s dominant mechanic is a shrinking revenue base, resilient gross margin, and an operating-cost base too large for current scale.
Revenue contracted from$84.1M in FY2021 to$10.8M in FY2024, a scale loss that changes the business economics rather than merely marking a weak year. Yet gross margin held at62.9% in FY2024, indicating the sharper issue is insufficient volume to support overhead, not a collapse in the direct-cost structure.
In FY2024, gross profit of
Cash conversion is not the main distortion: capital expenditures were only
Financial Health Signals
Scored against emerging companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ontrak Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ontrak Inc held $5.7M in cash, cash equivalents and investments at the end of fiscal year 2024, and its operations used $13.4M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Ontrak Inc scores 18/100 among other emerging companies.
Ontrak Inc had 4M shares outstanding at the end of fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Ontrak Inc scores 92/100 among other emerging companies.
Ontrak Inc spent $4.6M on research and development in fiscal year 2024, which was 16.2% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Ontrak Inc scores 46/100 among other emerging companies.
Ontrak Inc reported revenue of $10.8M in fiscal year 2024, against $12.7M in fiscal year 2023. Revenue Progress ranks emerging companies on the three-year path of that line, and Ontrak Inc scores 25/100 among other emerging companies.
Ontrak Inc's operations used $13.4M of cash in fiscal year 2024, against $15.5M used in fiscal year 2023. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Ontrak Inc scores 68/100 among other emerging companies.
Ontrak Inc's cash, cash equivalents and investments came to $5.7M at the end of fiscal year 2024, against $11.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Ontrak Inc scores 43/100 among other emerging companies.
Ontrak Inc scores -38.12, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($426K) relative to total liabilities ($11.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ontrak Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Ontrak Inc reported a net loss of $25.5M while operations used $13.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Ontrak Inc reported an operating loss of $17.8M against $1.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ontrak Inc generated $2.0M in revenue in Q1 2025. This represents a decrease of 24.7% from the same quarter a year earlier. Against the prior quarter it is down 35.9%.
Ontrak Inc's EBITDA was -$5.8M in Q1 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 41.2% from the same quarter a year earlier. Against the prior quarter it is down 34.9%.
Ontrak Inc reported -$6.9M in net income in Q1 2025. This represents a decrease of 54.6% from the same quarter a year earlier. Against the prior quarter it is down 33.5%.
Cash & Balance Sheet
Ontrak Inc recorded an outflow of $2.8M in free cash flow in Q1 2025, representing a cash shortfall after capex. This represents an increase of 15.6% from the same quarter a year earlier. Against the prior quarter it is up 36.3%.
Ontrak Inc held $4.1M in cash against $2.5M in long-term debt as of Q1 2025.
Not reported for Q1 2025.
Margins & Returns
Ontrak Inc's gross margin was 37.0% in Q1 2025, indicating the percentage of revenue retained after direct costs. This is down 26.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 24.0 percentage points.
Ontrak Inc's ROE was -148.3% in Q1 2025, measuring profit generated per dollar of shareholder equity. This is down 127.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 96.0 percentage points.
Not shown for Q1 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q1 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Ontrak Inc invested $1.4M in research and development in Q1 2025. This represents an increase of 30.6% from the same quarter a year earlier. Against the prior quarter it is up 7.5%.
Ontrak Inc invested $58K in capex in Q1 2025, funding long-term assets and infrastructure. This represents an increase of 56.8% from the same quarter a year earlier. Against the prior quarter it is down 22.7%.
Not reported for Q1 2025.
OTRK Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0M-24.7% | $3.1M-11.1% | $2.6M-30.8% | $2.5M-17.2% | $2.7M+6.0% | $3.5M+41.0% | $3.7M+30.7% | $3.0M-24.2% |
| Cost of Revenue | $1.3M+30.4% | $1.2M-1.9% | $975K-6.3% | $844K+5.0% | $975K+15.1% | $1.3M+28.7% | $1.0M-27.6% | $804K-63.6% |
| Gross Profit | $746K-56.2% | $1.9M-16.1% | $1.6M-40.4% | $1.6M-25.5% | $1.7M+1.4% | $2.3M+48.8% | $2.7M+90.1% | $2.2M+27.0% |
| R&D Expenses | $1.4M+30.6% | $1.3M-30.8% | $1.2M-21.1% | $1.0M-33.2% | $1.1M-34.4% | $1.9M+1.7% | $1.6M-45.2% | $1.5M-46.1% |
| SG&A Expenses | $4.6M+13.4% | $4.3M-8.0% | $4.7M+7.6% | $3.9M-10.7% | $4.1M-29.9% | $4.7M-28.7% | $4.4M-42.2% | $4.4M-53.3% |
| Operating Income | -$5.8M-36.9% | -$4.4M+16.3% | -$5.1M-25.7% | -$4.0M+12.6% | -$4.3M+40.9% | -$5.2M+34.8% | -$4.1M+63.3% | -$4.6M+61.1% |
| EBITDA | -$5.8M-41.2% | -$4.3M-1.2% | -$5.0M-33.0% | -$3.8M+11.1% | -$4.1M+41.2% | -$4.2M+45.3% | -$3.8M+63.3% | -$4.3M+61.0% |
| Interest Expense | $1.0M+460.7% | $752K-37.0% | $471K-80.3% | $311K-86.0% | $183K-86.9% | $1.2M+31.0% | $2.4M+443.6% | $2.2M+92.3% |
| Income Tax | $0 | $0 | $0 | $0+100.0% | $0-100.0% | $0+100.0% | $0-100.0% | -$100K-600.0% |
| Net Income | -$6.9M-54.6% | -$5.2M+19.3% | -$5.6M+13.1% | -$10.3M-52.3% | -$4.5M+46.6% | -$6.4M+29.8% | -$6.4M+49.7% | -$6.8M+55.1% |
| EPS (Basic) | -$1.650.0% | -$10.73-520.8% | -$1.77+93.3% | -$0.19+89.7% | -$1.65+27.0% | $2.55+808.3% | -$26.47-615.4% | -$1.84+63.0% |
| EPS (Diluted) | -$1.65 | -$10.73 | -$1.77 | -$0.19 | -$1.65+27.0% | $2.55+808.3% | -$26.47 | -$1.84 |
| Diluted Shares (Avg) | 6M | N/A | 4M | 66M | 4M-13.4% | N/A | 327,000 | 5M |
OTRK Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $18.3M-31.6% | $21.1M+6.2% | $22.4M+7.8% | $25.3M+11.8% | $26.7M+7.6% | $19.8M-22.9% | $20.8M-32.3% | $22.6M-35.3% |
| Current Assets | $7.9M-16.1% | $9.6M-25.2% | $10.2M-19.8% | $11.1M-19.7% | $9.4M-39.0% | $12.8M-10.4% | $12.7M-33.4% | $13.9M-37.3% |
| Cash & Equivalents | $4.1M-36.1% | $5.7M-41.1% | $8.0M+146.9% | $7.3M+19.7% | $6.4M-13.4% | $9.7M+92.8% | $3.2M-55.5% | $6.1M-39.4% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $602K | $1.0M | $29K | N/A | N/A | $0 | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% |
| Total Liabilities | $13.6M+148.8% | $11.2M+101.0% | $10.9M-56.9% | $9.9M-54.9% | $5.5M-70.0% | $5.6M-72.2% | $25.4M+45.5% | $21.9M+43.7% |
| Current Liabilities | $11.1M+198.2% | $8.8M+122.7% | $8.7M-22.4% | $3.1M-68.6% | $3.7M-54.9% | $3.9M-58.4% | $11.2M+48.4% | $9.7M+19.8% |
| Non-Current Liabilities | $2.6M+45.2% | $2.4M+48.5% | $2.3M-83.9% | $6.8M-43.8% | $1.8M-82.3% | $1.6M-84.6% | $14.2M+43.3% | $12.1M+71.2% |
| Long-Term Debt | $2.5M+53.9% | $2.3M+58.6% | $2.2M-84.6% | $6.7M-44.0% | $1.6M-83.5% | $1.5M-85.4% | $14.1M+52.5% | $11.9M+93.2% |
| Total Equity | $4.6M-78.1% | $9.9M-30.8% | $11.5M+347.5% | $15.4M+1938.8% | $21.2M+221.0% | $14.3M+151.4% | -$4.6M-135.1% | $756K-96.2% |
| Retained Earnings | -$547.6M-15.3% | -$540.7M-14.9% | -$491.0M-5.8% | -$485.4M-6.0% | -$475.1M-5.3% | -$470.7M-6.3% | -$464.3M-7.1% | -$457.8M-8.8% |
Not reported in any period shown, so not listed: Inventory.
OTRK Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.7M+16.4% | -$4.3M-18.8% | -$1.4M+22.2% | -$4.5M+12.6% | -$3.3M+34.2% | -$3.6M-150.1% | -$1.8M+78.2% | -$5.1M-37.4% |
| Depreciation & Amortization | $100K-50.0% | $100K-90.0% | $100K-66.7% | $200K-33.3% | $200K-33.3% | $1.0M+233.3% | $300K-62.5% | $300K-62.5% |
| Stock-Based Compensation | $1.4M+303.7% | N/A | $1.7M+112.5% | $400K-55.6% | $352K-45.9% | N/A | $800K-33.3% | $900K-57.1% |
| Capital Expenditures | $58K+56.8% | $75K-15.7% | $28K-61.6% | $37K-62.2% | $37K+48.0% | $89K-41.4% | $73K-70.8% | $98K-80.4% |
| Free Cash Flow | -$2.8M+15.6% | -$4.4M-17.9% | -$1.4M+23.7% | -$4.5M+13.5% | -$3.3M+33.8% | -$3.7M-131.9% | -$1.9M+77.9% | -$5.2M-23.4% |
| Investing Cash Flow | -$58K-56.8% | -$75K+15.7% | -$28K+61.6% | -$37K+62.2% | -$37K-48.0% | -$89K+41.4% | -$73K+70.8% | -$98K+80.4% |
| Financing Cash Flow | $1.2M+23260.0% | $2.1M-49.4% | $2.1M+107.3% | $5.4M+67.0% | -$5K-100.1% | $4.2M+770.8% | $1.0M-81.6% | $3.2M+124.9% |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | $0 | $0 | $0 |
Not reported in any period shown, so not listed: Share Buybacks.
OTRK Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.0%-26.6pp | 61.0%-3.6pp | 62.1%-10.0pp | 65.6%-7.3pp | 63.6%-2.9pp | 64.6%+3.4pp | 72.0%+22.5pp | 72.8%+29.4pp |
| Operating Margin | -290.0% | -138.7% | -198.8% | -165.1% | -159.4% | -147.3% | -109.4% | -156.3% |
| Net Margin | -341.7% | -164.1% | -217.2% | -419.8% | -166.3% | -180.7% | -172.8% | -228.2% |
| Return on Equity | -148.3%-127.3pp | -52.3%-7.5pp | -48.7% | -66.8%+826.9pp | -21.0%+105.2pp | -44.8%+115.6pp | N/A | -893.7%-817.3pp |
| Return on Assets | -37.7%-21.0pp | -24.5%+7.7pp | -24.9%+6.0pp | -40.7%-10.8pp | -16.7%+16.9pp | -32.2%+3.1pp | -30.9%+10.7pp | -29.9%+13.2pp |
| Current Ratio | 0.72-1.8x | 1.09-2.2x | 1.170.0x | 3.64+2.2x | 2.54+0.7x | 3.24+1.7x | 1.14-1.4x | 1.42-1.3x |
| Debt-to-Equity | 0.54+0.5x | 0.24+0.1x | 0.19 | 0.43-15.3x | 0.08-1.4x | 0.10-1.7x | N/A | 15.76+15.4x |
| Asset Turnover | 0.110.0x | 0.150.0x | 0.11-0.1x | 0.100.0x | 0.100.0x | 0.18+0.1x | 0.18+0.1x | 0.130.0x |
| FCF Margin | -137.9% | -138.9% | -56.0%-5.3pp | -183.9% | -123.0% | -104.7% | -50.8% | -176.1% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Ontrak Inc OTRK | FY2024 | $10.8M | -$25.5M | N/A | $426K | 49/100 |
| FOXO TECHNOLOGIES FOXO | FY2025 | $16.4M | -$12.4M | -75.9% | $1.0M | — |
| Scworx Corp WORX | FY2025 | $2.9M | -$4.4M | N/A | $1.6M | — |
| Heartbeam Inc BEAT | FY2025 | N/A | -$21.0M | N/A | $25.6M | — |
| Dariohealth Corp DRIO | FY2025 | $22.4M | -$41.7M | N/A | $71.5M | 54/100 |
| BULLFROG AI HLDGS INC BFRG | FY2025 | $117K | -$6.5M | N/A | $9.0M | — |
Where Ontrak Inc Ranks
Frequently Asked Questions
What is Ontrak Inc's annual revenue?
Ontrak Inc (OTRK) reported $10.8M in total revenue for fiscal year 2024. This represents a -14.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ontrak Inc's revenue growing?
Ontrak Inc (OTRK) revenue declined by 14.9% year-over-year, from $12.7M to $10.8M in fiscal year 2024.
Is Ontrak Inc profitable?
No, Ontrak Inc (OTRK) reported a net income of -$25.5M in fiscal year 2024.
What is Ontrak Inc's EBITDA?
Ontrak Inc (OTRK) had EBITDA of -$17.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ontrak Inc have?
As of fiscal year 2024, Ontrak Inc (OTRK) had $5.7M in cash and equivalents against $2.3M in long-term debt.
What is Ontrak Inc's gross margin?
Ontrak Inc (OTRK) had a gross margin of 62.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ontrak Inc's return on equity (ROE)?
Ontrak Inc (OTRK) has a return on equity of -258.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Ontrak Inc's free cash flow?
Ontrak Inc (OTRK) recorded an outflow of $13.6M in free cash flow during fiscal year 2024. This represents a 13.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ontrak Inc's operating cash flow?
Ontrak Inc (OTRK) recorded an outflow of $13.4M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are Ontrak Inc's total assets?
Ontrak Inc (OTRK) had $21.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Ontrak Inc's capital expenditures?
Ontrak Inc (OTRK) invested $177K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Ontrak Inc spend on research and development?
Ontrak Inc (OTRK) invested $4.6M in research and development during fiscal year 2024.
What is Ontrak Inc's current ratio?
Ontrak Inc (OTRK) had a current ratio of 1.09 as of fiscal year 2024, which is considered adequate.
What is Ontrak Inc's debt-to-equity ratio?
Ontrak Inc (OTRK) had a debt-to-equity ratio of 0.24 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ontrak Inc's return on assets (ROA)?
Ontrak Inc (OTRK) had a return on assets of -120.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does Ontrak Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, Ontrak Inc (OTRK) held $5.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $13.4M over that year. Dividing the one by the other, the reported balance equals about 5 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Ontrak Inc's Altman Z-Score?
Ontrak Inc (OTRK) has an Altman Z-Score of -38.12, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ontrak Inc's Piotroski F-Score?
Ontrak Inc (OTRK) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ontrak Inc's earnings high quality?
Ontrak Inc (OTRK) reported a net loss of $25.5M while operations used $13.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ontrak Inc cover its interest payments?
Ontrak Inc (OTRK) reported an operating loss of $17.8M against $1.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ontrak Inc?
Ontrak Inc (OTRK) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.