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Veradigm (MDRX) - 2022 Q2 - Earnings Call Transcript
2022-08-08 00:02
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) Q2 2022 Earnings Conference Call August 4, 2022 4:30 PM ET Company Participants Jenny Gelinas - VP, IR Rick Poulton - CEO Tom Langan - President and Chief Commercial Officer Leah Jones - CFO Conference Call Participants Stephanie Davis - SVB Securities Cindy Motz - Goldman Sachs Charles Rhyee - Cowen Sean Dodge - RBC Capital Michael Cherny - Bank of America George Hill - Deutsche Bank Jeff Garro - Piper Stanley Dolph Warburton - Nephron Research Operator L ...
Veradigm (MDRX) - 2022 Q2 - Quarterly Report
2022-08-07 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-35547 ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 36-4392754 (State or Other Jurisdiction of Incorporation or Organi ...
Veradigm (MDRX) - 2022 Q1 - Quarterly Report
2022-05-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-35547 ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 36-4392754 (State or Other Jurisdiction of Incorporation or Organ ...
Veradigm (MDRX) - 2021 Q1 - Earnings Call Transcript
2022-05-08 13:22
Financial Data and Key Metrics Changes - The company reported strong year-over-year growth in revenue, gross profit, and adjusted EBITDA, with an overall improvement in margins, earnings per share, and free cash flow [18][24][25] - Consolidated non-GAAP EPS was $0.13 per share, reflecting a 63% increase year-over-year [25] - Free cash flow from continuing operations was $35 million, with $25 million in free cash flow generated [26] Business Line Data and Key Metrics Changes - The Veradigm business segment saw a year-over-year revenue growth of 8% during the quarter [18] - Veradigm non-GAAP gross margin was 52.2%, up 420 basis points year-over-year [21] - Adjusted EBITDA for Veradigm grew 24% year-over-year, resulting in an adjusted EBITDA margin of 25.8%, an increase of 330 basis points year-over-year [24] Market Data and Key Metrics Changes - The Veradigm provider platform added over 500 new practices and 6,100 prescribing physicians during the quarter [19] - The U.S. Department of State selected the company's practice management platform for deployment to over 200 health units globally [19] Company Strategy and Development Direction - The company is focusing on the Veradigm business following the sale of its Hospital Large Physician Practices segment, aiming for continued success and growth opportunities [5][13] - There is potential for future acquisitions to augment organic growth, but the immediate focus remains on organic growth [57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining the revenue growth outlook for Veradigm at 6% to 7% year-over-year and adjusted EBITDA growth of 10% to 15% [29] - The company anticipates generating consolidated free cash flow from continuing operations in the range of $110 million to $120 million for the year [29] Other Important Information - The company amended its credit agreement to extend the maturity of the facility for an additional five years and secured improved pricing [28] - The results of the Hospital & Large Physician Practices business segment are reported as discontinued operations [14] Q&A Session Summary Question: Free cash flow guidance for Veradigm - Management clarified that the guidance reflects the consolidated entity and is indicative of steady-state operations [34][35] Question: Margins comparison between payer and life sciences - Management indicated that gross margins between provider and payer/life sciences are comparable, with improvements expected from operating leverage [37][38] Question: Revenue growth expectations for payer and life sciences - Management noted seasonality in the payer and life sciences segment but remains confident in achieving growth expectations later in the year [45][46] Question: Impact of early-stage biotech funding slowdown - Management stated there has been no significant impact from early-stage biotech funding issues, as their focus is on larger pharma companies [66] Question: Veradigm Touchpoint Media business growth - Management confirmed that the media business is expected to grow significantly, contributing to the overall growth of the payer and life sciences segment [73] Question: Net debt clarification - Management advised to add $68 million of cash to the balance sheet to arrive at the correct net debt figure, estimating it around $230 million [76]
Allscripts Healthcare Solutions (MDRX) Investor Presentation - Slideshow
2022-03-07 19:11
Transaction Overview - Allscripts has reached an agreement to sell the net assets of its Hospitals & Large Physician Practices business segment to Harris Health for up to $700 million[3] - The purchase consideration includes a fixed price of $670 million paid at closing, plus contingent consideration up to $30 million based on revenue performance[3] - The after-tax proceeds from the deal are expected to be approximately $600 million[9] Business Segment Performance (Hospitals & Large Physician Practices) - The business segment's TTM revenue through 12/31/21 was $928 million, and TTM adjusted EBITDA was $145 million[7] - Management expects the business segment's revenue to be down approximately 3-4% year-over-year in 2022[7] - Management expects the business segment's adjusted EBITDA to be down approximately 10-15% year-over-year in 2022[7] - The business segment is estimated to generate approximately $50-60 million in free cash flow in 2022[7] Veradigm Business - Veradigm's overall revenue is expected to grow 6-7% in 2022[16] - Veradigm's adjusted EBITDA is expected to grow 10-15% year-over-year in 2022[17] - Free cash flow from continuing operations for Veradigm is expected to be in the range of $110 million to $120 million in 2022[17] - In 2021, Provider revenue accounted for 82% and Payer & Life Sciences revenue accounted for 18% of the total $552 million revenue[16]
Veradigm (MDRX) - 2021 Q4 - Earnings Call Transcript
2022-02-25 12:47
Allscripts Healthcare Solutions, Inc. (OTC:MDRX) Q4 2021 Earnings Conference Call February 24, 2022 4:30 PM ET Company Participants Jenny Gelinas - Vice President, Investor Relations Paul Black - Chief Executive Officer Rick Poulton - President and Chief Financial Officer Conference Call Participants Michael Cherny - Bank of America Sean Dodge - RBC Capital Markets Charles Rhyee - Cowen and Company Jeff Garro - Piper Sandler Stephanie Demko - SVB Leerink Don Hooker - KeyBanc Operator Greetings and welcome t ...
Veradigm (MDRX) - 2021 Q4 - Annual Report
2022-02-24 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-35547 ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. (Exact name of registrant as specified in its charter) Delaware 36-4392754 (State or other jurisdiction of incorporation or organizati ...
Veradigm (MDRX) - 2021 Q3 - Earnings Call Transcript
2021-11-07 18:24
Allscripts Healthcare Solutions, Inc. (OTC:MDRX) Q3 2021 Earnings Conference Call November 4, 2021 4:30 PM ET Company Participants Jenny Gelinas - Vice President, Investor Relations Paul Black - Chief Executive Officer Rick Poulton - President & Chief Financial Officer Conference Call Participants George Hill - Deutsche Bank Sean Dodge - RBC Capital Markets Charles Rhyee - Cowen Donald Hooker - SVB Leerink Operator Good day, ladies and gentlemen, and welcome to the Allscripts' Third Quarter 2021 Earnings Co ...
Veradigm (MDRX) - 2021 Q3 - Quarterly Report
2021-11-04 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. Washington, D.C. 20549 (Exact Name of Registrant as Specified in Its Charter) FORM 10-Q Delaware 36-4392754 (State or Other Jurisdiction of Incorporation or Organization) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 (I.R.S. Employer Identification No.) 222 Merchandise Mart, Suite 2024 Chicago, IL 60654 (Address of Principal Exec ...
Veradigm (MDRX) - 2021 Q2 - Earnings Call Transcript
2021-08-08 14:08
Allscripts Healthcare Solutions, Inc. (OTC:MDRX) Q2 2021 Earnings Conference Call August 5, 2021 4:30 PM ET Company Participants Stephen Shulstein - Vice President, Investor Relations Paul Black - Chief Executive Officer Rick Poulton - President & Chief Financial Officer Conference Call Participants Thomas Keller - RBC Capital Markets George Hill - Deutsche Bank Eric Percher - Nephron Research Charlie Rhyee - Cowen Operator Greetings, and welcome to Allscripts' Second Quarter 2021 Earnings Call. At this tim ...