Performant Finl Corp Financials
Performant Finl Corp (PHLT) reported $123.0M in revenue for fiscal year 2024, up 8.1% from the prior fiscal year. 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).
Cash generation is being created below the income line, while heavy overhead and reinvestment keep reported profits and free cash flow negative.
In FY2024, a net loss of-$9.9M still became operating cash flow of$6.2M because depreciation of$6.6M and lower receivables helped cash, but capex consumed that cushion at$7.0M , pushing free cash flow to-$832K . That combination says the business can presently fund day-to-day operations from internal cash, yet it is not producing surplus cash after the asset spending needed to run the business.
By FY2024, selling and administrative expense reached
Balance-sheet pressure is lower than it was a few years ago: long-term debt was eliminated by FY2023, and interest expense was 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 Performant Finl Corp'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.
Not available for Performant Finl Corp, and counted as zero in the overall score.
Performant Finl Corp scores 14.69, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($612.2M) relative to total liabilities ($25.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Performant Finl Corp passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Performant Finl Corp reported a net loss of $9.9M while generating $6.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Performant Finl Corp reported an operating loss of $9.5M against $700K 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
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 recorded an outflow of $832K in free cash flow in fiscal year 2024, representing a cash shortfall after capex. This represents a decrease of 194.0% from the prior year.
Performant Finl Corp held $9.3M in cash as of fiscal year 2024; long-term debt is not reported for that period.
Not reported for fiscal year 2024.
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.
Not reported for fiscal year 2024.
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.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
PHLT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $137.4M | $123.0M+8.1% | $113.7M+4.2% | $109.2M-12.2% | $124.4M-20.2% | $155.9M+3.7% | $150.4M-3.4% | $155.7M+17.9% | $132.0M-6.6% | $141.4M-11.3% | $159.4M-18.4% | $195.4M-23.5% | $255.3M+21.5% | $210.1M+28.9% | $163.0M+31.9% | $123.5M |
| SG&A Expenses | $104.9M | $100.4M+11.0% | $90.4M+6.0% | $85.3M-2.4% | $87.4M-13.1% | $100.7M-12.6% | $115.2M+19.8% | $96.1M+17.0% | $82.2M+4.2% | $78.9M-10.5% | $88.1M-6.0% | $93.7M-3.2% | $96.8M+16.6% | $83.0M+23.7% | $67.1M+15.4% | $58.1M |
| Operating Income | -$48K | -$9.5M-55.0% | -$6.1M+11.2% | -$6.9M-424.3% | -$1.3M+90.6% | -$14.0M+28.9% | -$19.6M-993.4% | -$1.8M+74.6% | -$7.1M+10.6% | -$7.9M-218.2% | $6.7M-75.4% | $27.3M-62.6% | $72.9M+30.7% | $55.8M+67.5% | $33.3M+4.9% | $31.8M |
| Interest Expense | $779K | $700K-64.5% | $2.0M+96.0% | $1.0M-91.1% | $11.3M+56.5% | $7.2M-4.8% | $7.6M+61.5% | $4.7M-32.6% | $7.0M-11.7% | $7.9M-11.2% | $8.9M-12.6% | $10.2M-12.0% | $11.6M-6.8% | $12.4M-8.2% | $13.5M-11.2% | $15.2M |
| Income Tax | $17K | -$351K-3.2% | -$340K-357.6% | $132K+112.9% | $62K+100.9% | -$7.2M-1805.0% | -$377K-124.4% | $1.5M+216.4% | -$1.3M+69.7% | -$4.4M-1032.1% | -$386K-105.0% | $7.7M-69.2% | $25.0M+48.7% | $16.8M+123.3% | $7.5M+12.8% | $6.7M |
| Net Income | -$885K | -$9.9M-31.6% | -$7.5M-15.0% | -$6.5M+36.5% | -$10.3M+26.5% | -$14.0M+47.8% | -$26.8M-234.8% | -$8.0M+37.1% | -$12.7M-11.1% | -$11.5M-538.1% | -$1.8M-119.1% | $9.4M-74.1% | $36.3M+58.3% | $23.0M+85.5% | $12.4M+24.0% | $10.0M |
| EPS (Diluted) | — | -$0.13-30.0% | -$0.10-11.1% | -$0.09+47.1% | -$0.17+34.6% | -$0.26+48.0% | -$0.50-233.3% | -$0.15+40.0% | -$0.25-8.7% | -$0.23-475.0% | -$0.04-121.1% | $0.19-74.3% | $0.74+68.2% | $0.44 | $0.13+44.4% | $0.09 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TTM is the trailing twelve months, Q3 FY2024 through Q2 FY2025, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PHLT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $101.8M+2.8% | $99.0M-16.7% | $118.8M-2.6% | $122.0M-3.4% | $126.2M-9.1% | $138.9M+0.8% | $137.8M-16.2% | $164.4M-11.2% | $185.1M-23.7% | $242.5M-7.7% | $262.8M+2.2% | $257.3M+21.5% | $211.7M+16.2% | $182.3M | N/A |
| Current Assets | $38.4M-3.6% | $39.8M-30.8% | $57.5M+5.1% | $54.7M+0.3% | $54.5M+47.4% | $37.0M+16.5% | $31.8M-42.8% | $55.5M-22.9% | $72.0M-34.1% | $109.3M-9.6% | $120.9M+6.2% | $113.9M+65.8% | $68.7M+41.2% | $48.6M | N/A |
| Cash & Equivalents | $9.3M+28.1% | $7.3M-69.0% | $23.4M+34.8% | $17.3M+8.1% | $16.0M+375.6% | $3.4M-38.2% | $5.5M-74.9% | $21.7M-34.1% | $33.0M-53.7% | $71.2M-11.4% | $80.3M-2.0% | $81.9M+116.4% | $37.8M+89.2% | $20.0M+80.6% | $11.1M |
| Accounts Receivable | $14.2M-19.4% | $17.6M+11.3% | $15.8M-24.1% | $20.8M-10.4% | $23.2M-14.6% | $27.2M+30.1% | $20.9M | N/A | N/A | N/A | N/A | N/A | N/A | $500K | N/A |
| Goodwill | $47.4M0.0% | $47.4M0.0% | $47.4M0.0% | $47.4M0.0% | $47.4M-36.3% | $74.4M-8.8% | $81.6M0.0% | $81.6M-1.2% | $82.5M0.0% | $82.5M0.0% | $82.5M+1.2% | $81.6M0.0% | $81.6M0.0% | $81.6M | N/A |
| Total Liabilities | $25.3M+37.9% | $18.3M-46.7% | $34.3M-13.2% | $39.6M-53.0% | $84.2M-1.2% | $85.2M+40.8% | $60.5M-28.0% | $84.1M-14.9% | $98.8M-33.5% | $148.7M-13.4% | $171.7M-6.2% | $183.0M-2.5% | $187.7M-5.2% | $198.0M | N/A |
| Current Liabilities | $14.0M+12.9% | $12.4M-12.9% | $14.2M-18.8% | $17.5M-77.3% | $77.2M+297.4% | $19.4M+37.9% | $14.1M-67.3% | $43.1M-16.3% | $51.5M-4.2% | $53.7M-3.7% | $55.8M+22.1% | $45.7M+23.5% | $37.0M+37.3% | $26.9M | N/A |
| Long-Term Debt | N/A | $0-100.0% | $18.2M-4.7% | $19.1M | N/A | $58.6M+42.5% | $41.1M+6.6% | $38.6M-30.1% | $55.2M-41.5% | $94.3M-15.7% | $111.8M-16.1% | $133.3M-3.9% | $138.7M-7.9% | $150.5M | N/A |
| Total Equity | $76.5M-5.2% | $80.7M-4.5% | $84.5M+2.5% | $82.4M+96.3% | $42.0M-21.7% | $53.6M-30.6% | $77.2M-3.9% | $80.3M-6.9% | $86.2M-8.1% | $93.9M+2.9% | $91.2M+22.8% | $74.2M+208.4% | $24.1M+253.3% | -$15.7M+27.3% | -$21.6M |
| Retained Earnings | -$75.2M-15.2% | -$65.3M-13.0% | -$57.8M-12.8% | -$51.2M-25.1% | -$41.0M-51.9% | -$27.0M-18000.0% | -$149K-101.9% | $7.9M-61.8% | $20.6M-35.7% | $32.0M-5.3% | $33.8M+38.5% | $24.4M+305.3% | -$11.9M+63.7% | -$32.8M | N/A |
Not reported in any period shown, so not listed: Inventory.
PHLT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.8M | $6.2M+60.1% | $3.9M+234.2% | -$2.9M-414.1% | $916K-95.6% | $20.8M+234.9% | -$15.4M-26.9% | -$12.1M-508.5% | $3.0M-83.3% | $17.8M+10.0% | $16.2M-42.0% | $27.9M-54.5% | $61.2M+65.4% | $37.0M+27.7% | $29.0M+59.1% | $18.2M |
| Capital Expenditures | $5.2M | $7.0M+69.2% | $4.1M+15.6% | $3.6M+4.9% | $3.4M-9.9% | $3.8M-21.9% | $4.9M-36.5% | $7.6M+5.3% | $7.3M-7.7% | $7.9M-0.4% | $7.9M-22.2% | $10.1M-18.9% | $12.5M+10.1% | $11.4M+85.8% | $6.1M+24.2% | $4.9M |
| Free Cash Flow | -$441K | -$832K-194.0% | -$283K+95.6% | -$6.5M-158.5% | -$2.5M-114.7% | $17.0M+183.9% | -$20.3M-2.5% | -$19.8M-361.9% | -$4.3M-143.2% | $9.9M+19.8% | $8.3M-53.3% | $17.7M-63.6% | $48.7M+89.9% | $25.6M+12.1% | $22.9M+72.1% | $13.3M |
| Investing Cash Flow | -$5.2M | -$7.0M-69.3% | -$4.1M-339.2% | $1.7M+741.1% | -$270K+92.9% | -$3.8M+21.9% | -$4.9M+9.4% | -$5.4M+26.2% | -$7.3M+7.7% | -$7.9M-18.7% | -$6.6M+34.7% | -$10.1M+18.9% | -$12.5M-2.5% | -$12.2M-99.5% | -$6.1M-24.2% | -$4.9M |
| Financing Cash Flow | -$907K | $2.8M+117.6% | -$15.9M-413.2% | $5.1M+732.4% | $608K+116.4% | -$3.7M-120.6% | $18.0M+1287.7% | $1.3M+110.2% | -$12.7M+68.8% | -$40.6M-117.4% | -$18.7M+3.3% | -$19.3M-316.9% | -$4.6M+33.5% | -$7.0M+50.0% | -$13.9M-25.2% | -$11.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $1.8M | $0 | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $1.2M | $0 | N/A |
TTM is the trailing twelve months, Q3 FY2024 through Q2 FY2025, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PHLT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -7.7%-2.3pp | -5.4%+0.9pp | -6.3%-5.3pp | -1.1%+7.9pp | -9.0%+4.1pp | -13.1%-11.9pp | -1.1%+4.2pp | -5.4%+0.2pp | -5.6%-9.8pp | 4.2%-9.8pp | 14.0%-14.6pp | 28.5%+2.0pp | 26.6%+6.1pp | 20.4%-5.3pp | 25.7% |
| Net Margin | -8.1%-1.4pp | -6.6%-0.6pp | -6.0%+2.3pp | -8.3%+0.7pp | -9.0%+8.9pp | -17.8%-12.7pp | -5.1%+4.5pp | -9.6%-1.5pp | -8.1%-7.0pp | -1.1%-5.9pp | 4.8%-9.4pp | 14.2%+3.3pp | 10.9%+3.3pp | 7.6%-0.5pp | 8.1% |
| Return on Equity | -12.9%-3.6pp | -9.3%-1.6pp | -7.7%+4.7pp | -12.5%+20.8pp | -33.3%+16.7pp | -50.0%-39.6pp | -10.4%+5.5pp | -15.8%-2.6pp | -13.3%-11.4pp | -1.9%-12.2pp | 10.3%-38.6pp | 48.9%-46.4pp | 95.3% | N/A | N/A |
| Return on Assets | -9.7%-2.1pp | -7.6%-2.1pp | -5.5%+2.9pp | -8.4%+2.6pp | -11.1%+8.2pp | -19.3%-13.5pp | -5.8%+1.9pp | -7.7%-1.6pp | -6.2%-5.4pp | -0.7%-4.3pp | 3.6%-10.6pp | 14.1%+3.3pp | 10.8%+4.0pp | 6.8% | N/A |
| Current Ratio | 2.75-0.5x | 3.21-0.8x | 4.05+0.9x | 3.12+2.4x | 0.71-1.2x | 1.90-0.4x | 2.25+1.0x | 1.29-0.1x | 1.40-0.6x | 2.03-0.1x | 2.17-0.3x | 2.49+0.6x | 1.86+0.1x | 1.81 | N/A |
| Debt-to-Equity | 0.33+0.3x | 0.00-0.2x | 0.220.0x | 0.23-1.8x | 2.01+0.9x | 1.09+0.6x | 0.53+0.1x | 0.48-0.2x | 0.64-0.4x | 1.00-0.2x | 1.23-0.6x | 1.80-4.0x | 5.76 | N/A | N/A |
| FCF Margin | -0.7%-0.4pp | -0.3%+5.7pp | -5.9%-3.9pp | -2.0%-12.9pp | 10.9%+24.4pp | -13.5%-0.8pp | -12.7%-9.5pp | -3.3%-10.3pp | 7.0%+1.8pp | 5.2%-3.9pp | 9.1%-10.0pp | 19.1%+6.9pp | 12.2%-1.8pp | 14.0%+3.3pp | 10.8% |
Not reported in any period shown, so not listed: Gross Margin.
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Where Performant Finl Corp Ranks
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) recorded an outflow of $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 Altman Z-Score?
Performant Finl Corp (PHLT) has an Altman Z-Score of 14.69, placing it in the Safe Zone (low 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 Performant Finl Corp's Piotroski F-Score?
Performant Finl Corp (PHLT) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Performant Finl Corp's earnings high quality?
Performant Finl Corp (PHLT) reported a net loss of $9.9M while generating $6.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, 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 Performant Finl Corp cover its interest payments?
Performant Finl Corp (PHLT) reported an operating loss of $9.5M against $700K 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 Performant Finl Corp?
Performant Finl Corp (PHLT) scores 57 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.