Welcome to our dedicated page for Performant Finl news (Ticker: PFMT), a resource for investors and traders seeking the latest updates and insights on Performant Finl stock.
PFMT is the historical ticker symbol associated with Performant Financial Corporation, later known as Performant Healthcare, Inc., a company that focused on healthcare payment integrity, eligibility, and analytics services. News linked to this symbol covers the company’s strategic shift into healthcare, its government and commercial contracts, financial performance while public, the change of its name and ticker, and its eventual acquisition.
Coverage includes announcements describing Performant as a provider that helps healthcare payers identify, prevent, and recover waste and improper payments using advanced technology, analytics, and proprietary data assets. Press releases have highlighted its work with national and regional payers, its roles in Medicare and Medicaid programs, and awards such as CMS Recovery Audit Contractor (RAC) contracts and a New York State Medicaid RAC award. Financial news under PFMT has included quarterly earnings results, revenue mix between healthcare and customer care services, and commentary on efficiency initiatives and growth in healthcare revenues.
Later news items document the company’s corporate evolution, including its decision to change its name to Performant Healthcare, Inc., the planned ticker change from PFMT to PHLT, and the rationale of becoming a pure-play healthcare payment integrity company. Subsequent coverage reports on Machinify’s acquisition of Performant Healthcare, Inc., noting stockholder approval, the transaction value, and the delisting of the company’s shares from Nasdaq as it became privately held.
Investors and researchers using this news page can review historical press releases, conference participation announcements, contract awards, and transaction updates tied to PFMT. This archive helps explain how the business evolved from a broader financial recovery background into a healthcare-focused payment integrity specialist and ultimately into part of Machinify’s healthcare intelligence platform.
Performant Financial (Nasdaq: PFMT) reported its Q2 2024 financial results, showing significant growth in healthcare revenues. Key highlights include:
- Healthcare revenues increased 17% to $27.9 million
- Total revenues rose 15% to $29.4 million
- Net loss improved to $3.0 million or $(0.04) per diluted share
- Adjusted EBITDA improved to $0.5 million
The company implemented 10 commercial programs in Q2, totaling 20 for 2024, estimated to contribute $9 million in annualized steady-state revenue. Performant reiterated its 2024 guidance, expecting healthcare revenues of $117-122 million, total revenues of $124-129 million, and adjusted EBITDA of $4-5 million.
Performant Financial (Nasdaq: PFMT), operating as Performant Healthcare Solutions, will report its second quarter 2024 results on August 7, 2024, after market close. The company will host a conference call at 5:00 pm ET to discuss the results. Investors can join via phone or webcast, with replay options available.
Performant specializes in technology-enabled payment integrity, eligibility, and analytics services for commercial healthcare and government payers. The company helps identify and prevent waste, improper payments, and defaulted assets, serving markets including Medicare, Medicaid, and commercial healthcare. With over a decade of experience in healthcare recovery audits, Performant utilizes a proprietary analytics platform and workflow technology to provide comprehensive services.
Performant Financial (Nasdaq: PFMT) announced its participation in several June investor conferences. On June 6, Performant's Investor Relations will present and meet with investors at the Spring MicroCap Rodeo Conference in NYC. On June 13, they will be present at the East Coast IDEAS Investor Conference, again with 1:1 investor meetings. On June 26, CEO Simeon Kohl will host a panel on reducing fraud in healthcare at the Truist 2024 Healthcare Disruptors & Digital Health Summit, with both Kohl and CFO Rohit Ramchandani available for investor meetings. Performant specializes in payment integrity and analytics services, offering solutions to prevent and recover improper payments for healthcare payers. Detailed schedules and presentation materials will be available on Performant's website.
Performant Financial (Nasdaq: PFMT) reported healthcare revenues of $25.8 million, a 13% increase from the prior year. Total revenues were $27.3 million. Net loss was $4.0 million, and adjusted EBITDA was $(1.2) million. The acquisition of AI technology from RecordsOne aims to enhance efficiency and growth strategy.
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