UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35628 PERFORMANT FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) o If an emerging growth company, ...

Performant Financial Corp (NASDAQ:PFMT) Q2 2021 Earnings Conference Call August 10, 2021 5:00 PM ET Company Participants Richard Zubek - IR Professional Lisa Im - Chairman, CEO & Secretary Simeon Kohl - SVP, Healthcare & GM of Healthcare Rohit Ramchandani - VP, Finance & Strategy Conference Call Participants Kyle Bauser - Colliers Securities George Sutton - Craig-Hallum Chris Krug - Chatham Harbor Capital Operator Greetings and welcome to the Performant Financial Corporation Second Quarter 2021 Earnings Con ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35628 PERFORMANT FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Delaware 20-0484934 (State or ot ...

Financial Data and Key Metrics Changes - For Q1 2021, the company reported revenues of over $31 million, a decrease from $45.9 million in the prior year period due to the impact of the COVID-19 pandemic [7][12] - Adjusted EBITDA for Q1 2021 was essentially breakeven, compared to $7.1 million in the prior year period, reflecting the ongoing challenges from the pandemic [7][12] - The company anticipates achieving annual healthcare revenue in the range of $83 million to $90 million and positive EBITDA for 2021, with over 95% of revenue expectations contracted [8][17] Business Line Data and Key Metrics Changes - Claims-based revenue for Q1 2021 was over $5.3 million, down from $6.6 million in Q1 2020 but up from $4.7 million in Q4 2020, indicating a potential upward trend as activities normalize [13] - Revenue from eligibility services in Q1 2021 was approximately $8 million, down from $10.9 million in Q1 2020 and lower than $14 million in Q4 2020, with expectations for growth as programs ramp up [14][16] - Total non-healthcare recovery revenue in Q1 2021 was $14.5 million, while customer care outsourced services revenues were $3.6 million, both lower than the prior year period [20] Market Data and Key Metrics Changes - The healthcare payment integrity market is expected to grow at a mid-single-digit rate, with the company focusing on taking market share from incumbents like HMS and Cotiviti [33][34] - The company has launched 10 new healthcare programs in Q4 2020 and 5 additional programs in Q1 2021, indicating a strong pipeline for future growth [22][51] Company Strategy and Development Direction - The company is shifting its focus entirely to the healthcare market, winding down non-healthcare recovery operations and dedicating resources to healthcare payment integrity [5][6] - The strategy includes maintaining customer care outsourced services operations to leverage growth opportunities through integration with healthcare offerings [5][20] - The company plans to continue investing in technology and attracting industry talent to scale its healthcare business [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term prospects of the healthcare business, citing strong visibility into future revenues due to contracted expectations [30] - The company anticipates significant growth in the second half of 2021 as existing programs expand and new programs are implemented [17][19] - Management noted that the competitive landscape is based on quality rather than pricing, emphasizing the importance of delivering superior results to clients [42][46] Other Important Information - The company has accrued a $3.3 million liability against revenues due to discrete exposure on eligibility work, which is expected to close out in the coming year [15] - Operating expenses in Q1 2021 were $34.4 million, reflecting a decrease due to cost reductions in response to the pandemic [21] Q&A Session Summary Question: Can you walk me through the timeline for new program implementations? - The company expects all new programs to be fully operational by the end of 2021, with material impacts anticipated in 2022 [29] Question: How confident is the company in its revenue guidance for 2021 and beyond? - The company has strong visibility into future revenues, with over 95% contracted for 2021, and anticipates sustainable double-digit growth rates in the future [30][31] Question: What is the growth rate of the end market, and is the company taking market share? - The healthcare market is growing at mid-single digits, and the company is successfully taking market share from incumbents [33][34] Question: How does the company view pricing competition in the industry? - The company believes that competition is based on quality rather than pricing, as clients prioritize results over lower fees [42][46] Question: How easy is it to expand within the existing customer base? - Expansion opportunities exist within nearly all clients, with a significant portion of new programs being expansions rather than new clients [51]

or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35628 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 PERFORMANT FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Delaware 20-0484934 ...

Financial Data and Key Metrics Changes - In Q4 2020, the company reported revenues of over $40 million and adjusted EBITDA of $5.1 million, both lower compared to Q4 2019 due to the pandemic's impact on the recovery business [6][15] - For the full year 2020, revenues were nearly $156 million with adjusted EBITDA exceeding $20 million, marking the first time since 2016 that annual adjusted EBITDA surpassed $20 million, compared to $150 million in revenue and negative EBITDA of over $3 million in 2019 [7][16] Business Line Data and Key Metrics Changes - Healthcare revenues in Q4 2020 were $18.9 million, reflecting a 32% growth year-over-year, while full-year healthcare revenues reached $68.5 million, a 58% increase from 2019 [17][18] - Recovery revenues in Q4 2020 were $17.5 million, down 31% year-over-year, and full-year recovery revenues totaled $73.4 million, an 18% decrease compared to 2019 [19][20] Market Data and Key Metrics Changes - The healthcare business accounted for almost half of total revenue in 2020, a significant increase from just 7.5% in 2017, indicating a strong growth trend [11][18] - The recovery operations accounted for 47% of total revenue for the first time, reflecting the growth of the healthcare business and COVID-19 related impacts [12] Company Strategy and Development Direction - The company is focusing its long-term strategy on growing its healthcare business, having successfully taken market share from incumbents and proving the superiority of its technology platform [25][26] - The company anticipates that healthcare revenues will drive the majority of overall company revenue and growth moving forward, while recovery business revenues are expected to decline [12][27] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the pandemic's significant impact on operations but expressed confidence in the long-term prospects of the company, expecting to continue reporting positive EBITDA [27] - The company is not providing a detailed outlook for 2021 due to uncertainties surrounding recovery operations but remains optimistic about growth in healthcare markets [27] Other Important Information - The company launched 10 new healthcare programs in Q4 2020, indicating ongoing expansion and diversification within its service offerings [10] - Operating expenses in Q4 2020 were $36.3 million, a decrease of $9.8 million from the prior year, attributed to reduced headcount and expense restructuring [23] Q&A Session Summary - The Q&A session did not contain specific questions or answers as the call concluded with acknowledgments from management [30][31]

Performant Financial Corporation (NASDAQ:PFMT) Q3 2020 Earnings Conference Call November 10, 2020 5:00 PM ET Â Company Participants Richard Zubek - Investor Relations Lisa Im - Chief Executive Officer Rohit Ramchandani - Vice President, Finance and Strategy Operator Greetings. Welcome to Performant Financial Corporation Third Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please note this conference is being recorded. I will now turn the confere ...

INVESTOR PRESENTATION LD Micro 500 – Summer 2020 PERFORMANT FORWARD LOOKING STATEMENTS This presentation contains forward‐looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this presentation are forward‐looking statements. Forward‐looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forwar ...

Performant Financial Corporation (NASDAQ:PFMT) Q2 2020 Earnings Conference Call August 11, 2020 5:00 PM ET Company Participants Richard Zubek - Investor Relations Lisa Im - Chief Executive Officer Rohit Ramchandani - Vice President, Finance and Strategy Operator Greetings, and welcome to the Performant Financial Corp. Second Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please n ...

Performant Financial Corporation (NASDAQ:PFMT) Q1 2020 Earnings Conference Call May 19, 2020 5:00 PM ET Company Participants Richard Zubek - Investor Relations Lisa Im - Chief Executive Officer Rohit Ramchandani - Vice President of Finance & Strategy Conference Call Participants Operator Greetings and welcome to the Performant Financial Corp. First Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operato ...