Ontrak Inc Stock Price, News & Analysis

Ontrak, Inc. (NASDAQ: OTRK) has announced its participation in the Inaugural Gilmartin Group Emerging Growth Company Showcase, set for August 31, 2022, at 1:00 p.m. ET. The virtual event will feature a presentation by company management. Interested parties can access the live webcast here, and an archived version will be available on the company’s website, highlighting Ontrak's mission to improve healthcare for vulnerable populations using AI and telehealth solutions.

Ontrak, Inc. (NASDAQ: OTRK) reported Q2 2022 revenue of $3.9 million, an 85% decrease from the previous year, with a net loss of $15.1 million ($0.83 per share).

To manage its finances, the company fully repaid a $19.2 million loan, with a $5 million draw from its Keep Well Agreement.

Ontrak raised $3.5 million via a registered direct offering and partnered with Eleos for AI integration, reflecting progress in their sales pipeline with 19 health plan prospects.

The company forecasts 2022 revenue between $14 million and $16 million.

Ontrak, Inc. (NASDAQ: OTRK) has completed a registered direct offering, raising approximately $4.0 million by selling shares at $0.80 each, adhering to Nasdaq's at-the-market rules. Roth Capital Partners acted as the placement agent. The funds will be utilized for working capital and to reduce outstanding debt. This transaction followed a previously filed shelf registration statement with the SEC. The offering aims to strengthen Ontrak's financial position and support its mission in healthcare.

Ontrak, Inc. (NASDAQ: OTRK) announced a securities purchase agreement for a registered direct offering of its common stock at $0.80 per share, raising approximately $4.0 million before fees. The offering, expected to close by August 4, 2022, aims to fund working capital and reduce debt. Roth Capital Partners serves as the exclusive placement agent. The shares are being offered under a previously filed shelf registration statement with the SEC.

Ontrak, Inc. (NASDAQ: OTRK) announced it will release its financial results for Q2 2022 on August 9, 2022, after market close. The company will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss these results. As a leading AI and telehealth-enabled healthcare provider, Ontrak focuses on improving behavioral health outcomes for vulnerable populations through personalized care pathways and predictive analytics.

Ontrak, Inc. (NASDAQ: OTRK) has appointed Dr. Judith Feld as the new Chief Medical Officer, succeeding Dr. Robert Accordino, who leaves to focus on his private practice. Dr. Feld, who joined the company in 2019, has played a key role in developing Ontrak's clinical model aimed at engaging hard-to-reach health plan members. With over 30 years of experience and multiple accolades, she aims to enhance the health outcomes of members and improve services for health plan customers. The transition is seen as a positive step for Ontrak as it emphasizes internal talent and continuity in leadership.

Ontrak, Inc. (NASDAQ: OTRK) announced the resignation of CEO Jonathan Mayhew effective August 12, 2022, due to family health reasons. Founder Terren Peizer will assume the CEO role, focusing on strategic direction and capital initiatives. The company promoted several executives, including Brandon LaVerne to Co-President and COO, and Mary Lou Osborne to Co-President and Chief Commercial Officer. Historical revenue growth includes $2.7 million in 2015 to $84.1 million in 2021. Peizer's investment arm remains the largest shareholder.

Ontrak, Inc. (NASDAQ: OTRK), a leader in AI-powered telehealth, will participate in the Lytham Partners Summer 2022 Investor Conference. The presentation will be accessible from June 21, 2022, at 9:00 a.m. Eastern Time, via the company's website. Ontrak's mission focuses on enhancing healthcare for vulnerable populations facing mental health issues, including anxiety and substance use disorders. Their robust platform combines AI and personalized care pathways to improve member health and optimize healthcare utilization.

Ontrak Health (NASDAQ: OTRK) and Eleos Health announce a partnership to integrate their AI platforms, aiming to enhance member care in behavioral health. This collaboration will reduce administrative tasks and improve insights into treatment sessions. Eleos' voice-to-insights technology will streamline documentation, cutting completion time by up to 40%. This integration is expected to provide Ontrak's care teams with better visibility into patient needs and treatment effectiveness, ultimately supporting its mission to improve clinical outcomes for vulnerable populations.