Performant Finl Corp Financials
This page shows Performant Finl Corp (PHLT) financial statements, including the 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Performant Finl Corp has an operating margin of -7.7%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 5/100, suggesting thin profitability after operating expenses. This is down from -5.4% the prior year.
Performant Finl Corp's revenue grew 8.1% year-over-year to $123.0M, a solid pace of expansion. This earns a growth score of 47/100.
Performant Finl Corp carries a low D/E ratio of 0.33, meaning only $0.33 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
Performant Finl Corp's current ratio of 2.75 indicates adequate short-term liquidity, earning a score of 52/100. The company can meet its near-term obligations, though with limited headroom.
While Performant Finl Corp generated $6.2M in operating cash flow, capex of $7.0M consumed most of it, leaving -$832K in free cash flow. This results in a low score of 23/100, reflecting heavy capital investment rather than weak cash generation.
Performant Finl Corp generates a -12.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -9.3% the prior year.
Performant Finl Corp passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Performant Finl Corp generates $-0.62 in operating cash flow ($6.2M OCF vs -$9.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Performant Finl Corp earns $-13.6 in operating income for every $1 of interest expense (-$9.5M vs $700K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Performant Finl Corp generated $123.0M in revenue in fiscal year 2024. This represents an increase of 8.1% from the prior year.
Performant Finl Corp's EBITDA was -$2.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 208.4% from the prior year.
Performant Finl Corp reported -$9.9M in net income in fiscal year 2024. This represents a decrease of 31.6% from the prior year.
Performant Finl Corp earned $-0.13 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 30.0% from the prior year.
Cash & Balance Sheet
Performant Finl Corp generated -$832K in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 194.0% from the prior year.
Performant Finl Corp held $9.3M in cash against $0 in long-term debt as of fiscal year 2024.
Performant Finl Corp had 78M shares outstanding in fiscal year 2024. This represents an increase of 1.8% from the prior year.
Margins & Returns
Performant Finl Corp's operating margin was -7.7% in fiscal year 2024, reflecting core business profitability. This is down 2.3 percentage points from the prior year.
Performant Finl Corp's net profit margin was -8.1% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.4 percentage points from the prior year.
Performant Finl Corp's ROE was -12.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 3.6 percentage points from the prior year.
Capital Allocation
Performant Finl Corp invested $7.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 69.2% from the prior year.
PHLT Income Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $37.8M+13.6% | $33.3M-4.3% | $34.8M+10.3% | $31.5M+7.3% | $29.4M+7.4% | $27.3M-16.1% | $32.6M+8.7% | $30.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $2.6M+1660.0% | $150K+121.8% | -$689K+67.9% | -$2.1M+21.6% | -$2.7M+30.1% | -$3.9M-305.1% | $1.9M+394.2% | -$650K |
| Interest Expense | $276K-4.5% | $289K+391.9% | -$99K-131.6% | $313K+4.3% | $300K+61.3% | $186K-76.3% | $786K+85.8% | $423K |
| Income Tax | $360K+800.0% | $40K+110.1% | -$398K-2753.3% | $15K-6.3% | $16K0.0% | $16K-36.0% | $25K+106.1% | -$407K |
| Net Income | $2.1M+2665.4% | -$81K+83.7% | -$498K+79.1% | -$2.4M+20.4% | -$3.0M+25.4% | -$4.0M-420.1% | $1.3M+316.4% | -$580K |
| EPS (Diluted) | $0.03 | $0.00 | N/A | $-0.03+25.0% | $-0.04+20.0% | $-0.05 | N/A | $-0.01 |
PHLT Balance Sheet
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $111.0M+5.3% | $105.4M+3.5% | $101.8M-0.1% | $101.8M-0.6% | $102.4M+3.2% | $99.2M+0.2% | $99.0M-1.7% | $100.7M |
| Current Assets | $47.5M+13.2% | $42.0M+9.4% | $38.4M+0.1% | $38.3M+0.5% | $38.1M+11.9% | $34.1M-14.3% | $39.8M-5.3% | $42.0M |
| Cash & Equivalents | $9.1M-9.1% | $10.0M+7.4% | $9.3M+19.5% | $7.8M-25.4% | $10.4M+175.2% | $3.8M-47.8% | $7.3M-58.1% | $17.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $17.7M+20.6% | $14.7M+3.9% | $14.2M-21.1% | $18.0M+27.6% | $14.1M-1.5% | $14.3M-18.8% | $17.6M+24.5% | $14.1M |
| Goodwill | $47.4M0.0% | $47.4M0.0% | $47.4M0.0% | $47.4M0.0% | $47.4M0.0% | $47.4M0.0% | $47.4M0.0% | $47.4M |
| Total Liabilities | $28.7M+5.4% | $27.2M+7.7% | $25.3M-5.0% | $26.6M+0.1% | $26.6M+23.1% | $21.6M+17.8% | $18.3M-18.1% | $22.4M |
| Current Liabilities | $18.0M+9.6% | $16.4M+17.4% | $14.0M-2.8% | $14.4M0.0% | $14.4M+15.9% | $12.4M+0.2% | $12.4M+2.5% | $12.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $9.1M |
| Total Equity | $82.2M+5.3% | $78.1M+2.1% | $76.5M+1.7% | $75.2M-0.8% | $75.9M-2.3% | $77.6M-3.8% | $80.7M+3.0% | $78.3M |
| Retained Earnings | -$73.2M+2.8% | -$75.3M-0.1% | -$75.2M-0.7% | -$74.7M-3.3% | -$72.3M-4.3% | -$69.3M-6.2% | -$65.3M+1.9% | -$66.6M |
PHLT Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $430K-85.2% | $2.9M+4.3% | $2.8M+312.3% | -$1.3M-128.6% | $4.6M+3689.3% | $121K+106.4% | -$1.9M-154.2% | $3.5M |
| Capital Expenditures | $1.3M-10.6% | $1.4M+14.5% | $1.3M+2.6% | $1.2M+43.8% | $858K-76.5% | $3.7M+207.7% | $1.2M+92.4% | $617K |
| Free Cash Flow | -$867K-159.6% | $1.5M-4.2% | $1.5M+159.6% | -$2.5M-168.3% | $3.7M+205.6% | -$3.5M-14.9% | -$3.1M-207.3% | $2.9M |
| Investing Cash Flow | -$1.3M+10.6% | -$1.4M-14.5% | -$1.3M-2.6% | -$1.2M-43.8% | -$858K+76.5% | -$3.7M-207.7% | -$1.2M-92.4% | -$617K |
| Financing Cash Flow | -$38K+95.0% | -$765K | $0+100.0% | -$104K-103.6% | $2.9M+20878.6% | -$14K+99.8% | -$7.0M-1195.4% | -$539K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PHLT Financial Ratios
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 7.0%+6.5pp | 0.4%+2.4pp | -2.0%+4.8pp | -6.8%+2.5pp | -9.3%+5.0pp | -14.3%-20.2pp | 5.9%+8.0pp | -2.2% |
| Net Margin | 5.5%+5.7pp | -0.2%+1.2pp | -1.4%+6.1pp | -7.6%+2.6pp | -10.2%+4.5pp | -14.7%-18.6pp | 3.9%+5.8pp | -1.9% |
| Return on Equity | 2.5%+2.6pp | -0.1%+0.5pp | -0.7%+2.5pp | -3.2%+0.8pp | -4.0%+1.2pp | -5.2%-6.7pp | 1.6%+2.3pp | -0.7% |
| Return on Assets | 1.9%+1.9pp | -0.1%+0.4pp | -0.5%+1.9pp | -2.3%+0.6pp | -2.9%+1.1pp | -4.0%-5.3pp | 1.3%+1.8pp | -0.6% |
| Current Ratio | 2.64+0.1 | 2.56-0.2 | 2.75+0.1 | 2.67+0.0 | 2.65-0.1 | 2.75-0.5 | 3.21-0.3 | 3.48 |
| Debt-to-Equity | 0.350.0 | 0.35+0.0 | 0.33-0.0 | 0.350.0 | 0.35+0.1 | 0.28+0.3 | 0.00-0.1 | 0.12 |
| FCF Margin | -2.3%-6.7pp | 4.4%+0.0pp | 4.4%+12.4pp | -8.1%-20.8pp | 12.7%+25.6pp | -12.9%-3.5pp | -9.4%-19.0pp | 9.6% |
Similar Companies
Frequently Asked Questions
What is Performant Finl Corp's annual revenue?
Performant Finl Corp (PHLT) reported $123.0M in total revenue for fiscal year 2024. This represents a 8.1% 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 Performant Finl Corp's revenue growing?
Performant Finl Corp (PHLT) revenue grew by 8.1% year-over-year, from $113.7M to $123.0M in fiscal year 2024.
Is Performant Finl Corp profitable?
No, Performant Finl Corp (PHLT) reported a net income of -$9.9M in fiscal year 2024, with a net profit margin of -8.1%.
What is Performant Finl Corp's EBITDA?
Performant Finl Corp (PHLT) had EBITDA of -$2.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Performant Finl Corp's operating margin?
Performant Finl Corp (PHLT) had an operating margin of -7.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Performant Finl Corp's net profit margin?
Performant Finl Corp (PHLT) had a net profit margin of -8.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Performant Finl Corp's return on equity (ROE)?
Performant Finl Corp (PHLT) has a return on equity of -12.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Performant Finl Corp's free cash flow?
Performant Finl Corp (PHLT) generated -$832K in free cash flow during fiscal year 2024. This represents a -194.0% 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 Performant Finl Corp's operating cash flow?
Performant Finl Corp (PHLT) generated $6.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Performant Finl Corp's total assets?
Performant Finl Corp (PHLT) had $101.8M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Performant Finl Corp's capital expenditures?
Performant Finl Corp (PHLT) invested $7.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Performant Finl Corp's current ratio?
Performant Finl Corp (PHLT) had a current ratio of 2.75 as of fiscal year 2024, which is generally considered healthy.
What is Performant Finl Corp's debt-to-equity ratio?
Performant Finl Corp (PHLT) had a debt-to-equity ratio of 0.33 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Performant Finl Corp's return on assets (ROA)?
Performant Finl Corp (PHLT) had a return on assets of -9.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Performant Finl Corp's Piotroski F-Score?
Performant Finl Corp (PHLT) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Performant Finl Corp's earnings high quality?
Performant Finl Corp (PHLT) has an earnings quality ratio of -0.62x, considered mixed quality. 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 Performant Finl Corp cover its interest payments?
Performant Finl Corp (PHLT) has an interest coverage ratio of -13.6x, meaning it can struggle to cover its interest obligations. 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 Performant Finl Corp?
Performant Finl Corp (PHLT) scores 37 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.