Company earns Gold for its NCQA-accredited health navigation platform for large employers and commercial health plans, immersive medical animation, and doctor-patient communications supportATLANTA, June 23, 2025 (GLOBE NEWSWIRE) -- Sharecare, the health tech company that helps to improve care quality, drive better outcomes, and lower costs across the healthcare ecosystem, today announced it has won 21 Digital Health Awards in the Health Information Resource Center’s Spring 2025 competition. Now in its 27th ...

Utilizing augmented reality, artificial intelligence, and time-based visualization, Sharecare’s newest innovative tools help life sciences brands engage, educate, and activate patientsATLANTA, June 12, 2025 (GLOBE NEWSWIRE) -- Sharecare, the health tech company that helps to improve care quality, drive better outcomes, and lower costs across the healthcare ecosystem, today announced the first two of 10 new innovative solutions designed to engage, educate, and activate patients and providers to better unders ...

Core Insights - Sharecare has appointed Elizabeth Delahoussaye as the chief privacy officer of Health Data Solutions, enhancing its expertise in healthcare compliance and privacy [1][2] - Delahoussaye brings over 20 years of experience in health information management, previously serving as chief privacy officer at CIOX Health and regional vice president at IOD Incorporated [2][3] - Sharecare's Health Data Solutions offers a range of services aimed at improving care quality, driving better outcomes, and lowering costs across the healthcare ecosystem [4][5] Company Overview - Sharecare is a digital healthcare company that provides software and tech-enabled services to various stakeholders in the healthcare ecosystem [5] - The company focuses on improving care quality, driving better outcomes, and reducing costs through data-driven AI insights and a comprehensive platform [5] - Sharecare's services include benefits navigation, care management, health information management, and more, aimed at enabling personalized and value-based care [5] Leadership and Expertise - Elizabeth Delahoussaye is recognized as a thought leader in health information management, having been named to Becker's Hospital Review's lists of Women in Health IT to Know and Women Power Players in Health IT [3] - Delahoussaye has held leadership roles in various health information management associations, including serving as president of the Tennessee Health Information Management Association [3] Service Offerings - Sharecare's Health Data Solutions provides innovative stand-alone and bundled solutions addressing challenges in release of information (ROI), audit fulfillment, medical record support, and more [4] - The solutions are designed to drive value for the healthcare ecosystem and support providers in navigating regulatory challenges while enhancing operational efficiency [4]

Core Message - Sharecare, a health tech company, has launched six new interactive media solutions aimed at improving patient and provider engagement, education, and health outcomes [1] New Interactive Media Solutions - **Condition Cloud**: An interactive tool connecting patients to health education topics based on popular keyword searches related to their condition, covering symptoms, treatments, lifestyle management, and mental health support [3] - **Condition Explorer**: Helps patients and caregivers understand disease progression and the impact of treatment non-adherence, offering risk visualization and tips for improvement [4] - **Condition Matrix**: Uses virtual reality-based graphics to show how diseases affect the entire body, allowing patients to explore primary and secondary effects through interactive modules [5] - **Animated Condition Guide**: Simplifies complex health information using animated narration, providing easy-to-understand facts about symptoms, diagnosis, treatment, and management [6] - **Dx Dialogues**: A physician-focused content platform featuring videos, polls, and articles on treatment innovation, efficacy, access, and health equity [7] - **HealthLink**: An infographic that bridges communication gaps between providers and patients by addressing top concerns and improving alignment during visits [8] Performance and Recognition - Sharecare's programs for life sciences companies and condition education centers have shown 2-3 times better audience quality compared to other data partners and an 83% increase in new prescriptions among primary care physicians [9] - Patients engaging with Sharecare's programs are 63% more likely to discuss related health topics with their doctors [9] - The company has received over 100 awards in the past year for its innovative content, solutions, campaigns, and expertise [9] Company Overview - Sharecare is a digital healthcare company providing software and tech-enabled services to improve care quality, outcomes, and cost efficiency across the healthcare ecosystem [11] - The company leverages data-driven AI insights, evidence-based resources, and a comprehensive platform to help stakeholders manage healthcare effectively [11] - Sharecare operates across three business channels: health plan sponsors, health systems and physician practices, and pharmaceutical brands [11]

Core Summary - The Georgia State Health Benefit Plan (SHBP) and Sharecare launched a new OnMed CareStation in Atlanta, offering tech-enabled hybrid-care services at no additional cost to state employees and school system employees covered under SHBP [1] - The CareStation provides primary and urgent care services, including health monitoring, exams, prescriptions, and treatments, available without appointments from 8 a m to 4 p m, Monday through Friday [2] - The launch is part of the Be Well SHBP program, aiming to integrate high-tech solutions with personal care, with a week-long open house and ribbon-cutting ceremony scheduled for September 16-20 [3] - OnMed's hybrid-care delivery solution is designed to improve health equity and access in underserved communities, with plans to expand CareStations across Georgia [4] Industry and Company Details Georgia Department of Community Health (DCH) - DCH oversees Medicaid, PeachCare for Kids®, and the State Health Benefit Plan, covering over 2 million Georgians annually with an annual budget exceeding $20 billion [5] - The agency focuses on providing affordable, quality healthcare to vulnerable and underserved populations [5] Sharecare - Sharecare is a leading digital health company offering a comprehensive virtual health platform to optimize individual and population-wide well-being [6] - The company aims to make high-quality care more accessible and affordable through its data-driven solutions [6] OnMed - OnMed is a tech-enabled hybrid care company specializing in innovative healthcare access solutions through its patented CareStations [7] - The company partners with various organizations to deliver convenient, affordable care to underserved communities [7]

Transaction Details - Sharecare Inc (NASDAQ: SHCR) has agreed to be acquired by investment firm Altaris LLC at a price of $1 43 per share in cash [1] - Following the transaction, Sharecare's shareholders will be cashed out and the company's shares will no longer be publicly traded [1] Investigation Overview - Kaskela Law LLC is investigating whether Sharecare's shareholders are receiving sufficient consideration for their shares [2] - The investigation also examines whether Sharecare's officers and/or directors breached their fiduciary duties or violated securities laws in agreeing to the $1 43 per share buyout price [2] - Notably, at least one stock analyst maintained a price target of over $2 00 per share for SHCR immediately prior to the transaction announcement [2] Legal Representation - Sharecare shareholders are encouraged to contact Kaskela Law LLC for additional information about the investigation and their legal rights [3] - Kaskela Law LLC specializes in representing investors in securities fraud, corporate governance, and merger & acquisition litigation [3]

Blue Zones Project Certification - Salinas, CA has achieved Blue Zones Community® certification, making it the first in Monterey County to earn this designation [1] - The certification recognizes Salinas' success in well-being transformation through the implementation of Blue Zones Project®, which integrates best practices in built environment, policy, and social connection [1] - The initiative was brought to Salinas by Salinas Valley Health, Taylor Farms, and Montage Health in 2018, engaging local leaders, volunteers, and organizations to improve community health [2] Health and Well-being Improvements - Salinas' overall community well-being score improved by 5.9 points since 2019, contrasting with a national downward trend [3] - Each point increase in well-being leads to approximately a 2% reduction in ER visits and hospital utilization, and a 1% reduction in total healthcare costs [3] - Residents reporting they are thriving in daily life rose from 58.8% to 66.6% [3] - 65.5% of individuals report at least 30 minutes of exercise three or more days per week, up from 56.2% in 2019 [3] - High cholesterol reports decreased by 54%, and tobacco use dropped to 2.8%, below state and national averages [3] - Nearly $21.7 million in additional funding was leveraged for well-being projects, and over $43.7 million in avoided medical and lost productivity costs were gained over the last five years [3] Community Engagement and Policy Impact - More than 18,500 individuals and 98 organizations participated in implementing Project programs and best practices [4] - Thirty-six new community policies, plans, and initiatives were implemented, improving built environment infrastructure, food systems, and tobacco use [4] - Twenty-five area schools integrated Blue Zones principles, encouraging healthy eating and physical activity [5] - Twenty-eight local restaurants added over 150 Blue Zones-inspired dishes, and 28 worksites implemented best practices to improve employee well-being [5] - Over 1,280 individuals attended purpose workshops, and residents generated over $250,000 through 5,600 volunteer hours [5] Future Plans and Sponsorship - Local leaders and volunteers will continue to champion Blue Zones Project as it expands across Monterey County, with certification reviews expected in Spring 2025 [7] - The initiative is supported by Salinas Valley Health, Taylor Farms, and Montage Health in collaboration with Sharecare, Inc and Blue Zones, LLC [7] About Blue Zones Project - Blue Zones Project® is a community-led well-being initiative designed to make healthy choices easier through permanent changes to a city's environment, policy, and social networks [8] - The project is based on research by Dan Buettner, who identified five cultures with the highest concentration of centenarians [8] - Currently, more than 75 communities across North America have joined Blue Zones Project, impacting over 4.5 million citizens [8]

Earnings Performance - Sharecare reported a quarterly loss of $0 04 per share, missing the Zacks Consensus Estimate of a loss of $0 03 per share, representing an earnings surprise of -33 33% [1] - The company's loss per share increased from $0 03 in the same quarter last year [1] - Over the last four quarters, Sharecare has surpassed consensus EPS estimates only once [2] Revenue Performance - Sharecare posted revenues of $94 27 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4 55% [2] - This represents a decline from year-ago revenues of $110 35 million [2] - The company has topped consensus revenue estimates twice over the last four quarters [2] Stock Performance - Sharecare shares have gained approximately 26 9% since the beginning of the year, outperforming the S&P 500's gain of 11 5% [3] - The stock's immediate price movement will depend on management's commentary during the earnings call [3] Earnings Outlook - The current consensus EPS estimate for the coming quarter is -$0 02 on $97 63 million in revenues [7] - For the current fiscal year, the consensus EPS estimate is -$0 10 on $384 16 million in revenues [7] - The estimate revisions trend for Sharecare is mixed, translating into a Zacks Rank 3 (Hold) [6] Industry Context - Sharecare belongs to the Zacks Medical Services industry, which is currently in the bottom 41% of the 250 plus Zacks industries [8] - The top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Comparison - Premier, Inc (PINC), another company in the Medical Services industry, is expected to report quarterly earnings of $0 49 per share, representing a year-over-year decline of 27 9% [9] - Premier, Inc's revenues are expected to be $311 82 million, down 8 4% from the year-ago quarter [9]

Revenue Opportunities and Growth Strategies - Sharecare's revenue opportunities from existing clients in high-cost areas represent a potential $1 billion revenue opportunity[91] - Sharecare aims to expand its existing client relationships by increasing engagement and enrollment through targeted marketing efforts[91] - The company is focused on cross-selling provider solutions to approximately 6,000 health system clients[92] - The company is actively investing in sales and marketing to acquire new clients across various sectors[91] - The company continues to explore acquisitions to drive growth and value, leveraging its expanding member base and client channels[95] Product Development and Innovation - The company launched Sharecare+, a digital-first advocacy solution, in January 2023 to enhance benefits navigation and clinical engagement[93] - Sharecare's platform is designed to integrate fragmented healthcare solutions into a comprehensive virtual care platform[79] - The company is committed to evolving its products to meet the changing demands of the digital healthcare industry, accelerated by the COVID-19 pandemic[94] - Sharecare's enterprise solutions cater to a diverse client base, including large employers and government organizations[81] Financial Performance and Revenue Trends - Revenue decreased by $16.1 million, or 15%, from $110.4 million in Q2 2023 to $94.3 million in Q2 2024, primarily due to declines in the enterprise channel[109] - Revenue decreased by $41.5 million, or 18%, from $226.6 million in 2023 to $185.1 million in 2024[119] - The enterprise channel revenue decreased by $17.9 million, or 28%, from $64.1 million in Q2 2023 to $46.2 million in Q2 2024, attributed to customer terminations and the shutdown of unprofitable operations[110] - The enterprise channel revenue decreased by $41.1 million, or 31%, from $134.2 million in 2023 to $93.1 million in 2024[120] - The provider channel revenue increased by $0.9 million, or 2%, from $58.2 million in 2023 to $59.1 million in 2024[120] Expenses and Cost Management - Costs of revenue decreased by $11.8 million, or 19%, from $62.9 million in Q2 2023 to $51.2 million in Q2 2024, due to revenue decreases and optimization efforts[111] - Sales and marketing expenses decreased by $1.4 million, or 9%, from $15.0 million in Q2 2023 to $13.6 million in Q2 2024, driven by reduced headcount and sponsorship costs[112] - Product and technology expenses decreased by $2.3 million, or 14%, from $17.0 million in Q2 2023 to $14.7 million in Q2 2024, due to lower labor costs and amortization of a non-cash asset[113] - General and administrative expenses increased by $4.3 million, or 12%, from $35.4 million in Q2 2023 to $39.7 million in Q2 2024, influenced by increased share-based compensation and legal costs related to a pending merger[114] - Depreciation and amortization increased by $2.1 million, or 15%, from $14.2 million in Q2 2023 to $16.3 million in Q2 2024, primarily due to new software being placed into service[115] Merger and Acquisition Activities - The pending merger with Altaris is expected to complete in the second half of 2024, subject to stockholder approval and other closing conditions[88] - The completion of the merger is subject to customary closing conditions, including stockholder approval and regulatory clearances[86] - The company has agreed to a termination fee of $17.7 million under specified limited circumstances as part of the Merger Agreement[147] - The company may be obligated to pay a termination fee of $17.7 million under certain circumstances related to the Merger Agreement[154] - The company incurred $4.730 million in acquisition-related costs for the three months ended June 30, 2024, compared to $267,000 for the same period in 2023, showing a substantial rise in costs associated with acquisitions[140] Cash Flow and Financial Position - The company had $85.2 million in cash and cash equivalents as of June 30, 2024, with $52.4 million available for borrowing under the Revolving Facility[146] - The company believes its cash on hand will be sufficient to meet its operating cash flow and working capital needs in the short term[148] - Net cash used in operating activities for the six months ended June 30, 2024 was $23.6 million, an increase of $2.4 million from $21.2 million in the same period of 2023[150] - Net cash used in investing activities for the six months ended June 30, 2024 was $15.7 million, compared to $15.2 million for the same period in 2023[151] - Net cash used in financing activities for the six months ended June 30, 2024 was $3.6 million, primarily due to share repurchases of $3.7 million[153] Market Risks and Future Outlook - The company has been exposed to market risks such as interest rate, foreign currency exchange, and financial instrument risks, although currently these risks are not material to its financial condition or results of operations[175] - Future exposure to market risks may increase as the business continues to evolve[175] - The company expects capital expenditures and working capital requirements to continue to increase in the immediate future as it seeks to expand its solution offerings[148] Adjusted Financial Metrics - Adjusted EBITDA is used by management to assess operating performance, excluding various non-recurring costs[127] - Adjusted EBITDA for the three months ended June 30, 2024, was $7,000, while for the same period in 2023, it was $3,288, indicating a significant improvement[140] - Adjusted net loss for the six months ended June 30, 2024, was $27.438 million, compared to $20.826 million for the same period in 2023, reflecting an increase of approximately 31.5%[140] - The adjusted loss per share for the three months ended June 30, 2024, was $(0.04), compared to $(0.03) for the same period in 2023, reflecting a slight increase in loss per share[140] Legal and Compliance Matters - The company is pursuing recovery of $50 million in fees from a customer in a contract dispute, which has negatively impacted financial results[97] - Non-operating, non-recurring costs included legal matters and ERP implementation costs, which are not expected to recur in the foreseeable future[128][130]

Revenue and Financial Performance - Revenue for Q2 2024 was $94.3 million, a decrease of $16.1 million (14.6%) compared to $110.4 million in Q2 2023[2] - Revenue for Q2 2024 decreased to $94.265 million from $110.353 million in Q2 2023, a decline of 14.6%[25] - Net loss attributable to Sharecare increased to $42.0 million in Q2 2024 from $35.1 million in Q2 2023, with an adjusted net loss of $14.1 million after excluding non-cash and non-operational expenses[2] - Net loss for Q2 2024 widened to $42.037 million compared to $35.143 million in Q2 2023[25] - Net loss for Q2 2024 was $42.0 million, compared to $35.6 million in Q2 2023, representing an 18% increase in losses[27] - Adjusted net loss for Q2 2024 was $14.1 million, compared to $10.2 million in Q2 2023[28] - Adjusted net loss per share increased to $0.04 in Q2 2024 from $0.03 in Q2 2023, excluding non-cash and non-operational amounts[2] - Adjusted loss per share was $0.04 in Q2 2024, compared to $0.03 in Q2 2023[28] - Net loss per share attributable to common stockholders was $0.12 in Q2 2024, compared to $0.10 in Q2 2023[25] Adjusted EBITDA and Operational Metrics - Adjusted EBITDA was near break-even in Q2 2024, compared to $3.3 million in Q2 2023, reflecting a decrease of $3.3 million[2] - Adjusted EBITDA for Q2 2024 was $7.0 million, a significant decrease from $3.3 million in Q2 2023[27] Costs and Expenses - Total costs and operating expenses for Q2 2024 were $135.418 million, down from $144.497 million in Q2 2023[25] - Non-operating, non-recurring costs in Q2 2024 included $1.8 million related to legal matters and contractual obligations with a financially distressed vendor[8] - Non-operating, non-recurring costs for Q2 2024 were $1.8 million, primarily related to legal matters and vendor obligations[28] - Reorganizational and severance costs in Q2 2024 amounted to $2.6 million, part of the company's globalization and cost-saving initiatives[13] - Reorganizational and severance costs decreased to $2.6 million in Q2 2024, down 69% from $8.2 million in Q2 2023[27] - Global workforce restructuring costs decreased to $1.8 million in Q2 2024, down 75% from $7.3 million in Q2 2023[28] - Acquisition-related costs in Q2 2024 were $4.7 million, reflecting expenses tied to the pending acquisition by Altaris[2] - Acquisition-related costs surged to $4.7 million in Q2 2024, compared to $0.3 million in Q2 2023, primarily due to pending Merger expenses[27] - Share-based compensation increased to $15.8 million in Q2 2024, up 30% from $12.1 million in Q2 2023[27] Balance Sheet and Cash Flow - Cash and cash equivalents decreased to $85.151 million as of June 30, 2024, from $128.187 million at the end of 2023[26] - Accounts receivable increased slightly to $130.519 million as of June 30, 2024, from $128.173 million at the end of 2023[26] - Total assets decreased to $560.202 million as of June 30, 2024, from $613.634 million at the end of 2023[26] - Total liabilities decreased to $122.395 million as of June 30, 2024, from $125.565 million at the end of 2023[26] - Accumulated deficit increased to $802.497 million as of June 30, 2024, from $725.373 million at the end of 2023[26] Shareholder and Stock Information - Weighted-average common shares outstanding increased to 360,401,283 in Q2 2024 from 354,049,808 in Q2 2023[25] - Weighted-average common shares outstanding increased to 360.4 million in Q2 2024, up 1.8% from 354.0 million in Q2 2023[28] Strategic Initiatives and Acquisitions - Sharecare successfully launched a new platform for Medicaid, reaching 750,000 members on July 1, 2024, as part of its Enterprise channel strategy[1] - The company entered into a definitive agreement to be acquired by Altaris, LLC, with Sharecare stockholders to receive $1.43 per common share upon closing, expected by the end of 2024[3][4] - Sharecare will not host an earnings conference call or provide financial guidance for Q2 2024 due to the pending acquisition by Altaris[5]