Core Viewpoint - Streamline Health Solutions, Inc. reported a decline in revenue for the fourth quarter and fiscal year 2024, primarily due to SaaS non-renewals and lower revenue from legacy contracts, while emphasizing a focus on innovation and client engagement to drive future growth [1][3][4]. Financial Performance - Total revenue for Q4 2024 was $4.7 million, down from $5.4 million in Q4 2023. For the fiscal year, revenue totaled $17.9 million compared to $22.6 million in the previous year [3]. - SaaS revenue for Q4 2024 was $3.1 million, representing 66% of total revenue, compared to $3.4 million (64%) in Q4 2023. For the fiscal year, SaaS revenue was $11.8 million (66%) versus $14.1 million (62%) in fiscal 2023 [4]. - The net loss for Q4 2024 was ($2.1 million), compared to a net loss of ($1.4 million) in Q4 2023. The total net loss for fiscal 2024 was ($10.2 million), an improvement from ($18.7 million) in fiscal 2023 [5]. Cash Position and Liabilities - Cash and cash equivalents as of January 31, 2025, were $2.2 million, down from $3.2 million a year earlier. The company had an outstanding balance of $1.0 million on its revolving credit facility [6]. - Total liabilities increased to $23.3 million as of January 31, 2025, compared to $22.9 million in the previous year [23]. Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was $35,000, down from $0.4 million in Q4 2023. For the fiscal year, adjusted EBITDA was a loss of ($1.3 million), slightly improved from a loss of ($1.4 million) in fiscal 2023 [7][28]. Booked SaaS Annual Contract Value (ACV) - As of January 31, 2025, the total Booked SaaS ACV was $14.0 million, down from $15.0 million a year earlier, largely due to client non-renewals, but offset by $3.5 million in new bookings during fiscal 2025 [8][9]. Future Outlook - The company expects to achieve an adjusted EBITDA positive run rate during the first half of fiscal 2025, although specific guidance on timing for bookings has not been provided due to unpredictability [11].

Core Insights - Streamline Health Solutions, Inc. has signed a contract with an 1,100 bed health system in Ohio to utilize its eValuator pre-bill code audit technology, aimed at improving coding accuracy and financial performance [1][2]. Company Overview - Streamline Health is at the forefront of enhancing financial performance in healthcare systems through pre-bill technology solutions, specifically with its AI-enhanced eValuator tool that helps providers accurately capture and bill for care, minimizing denials [2][3]. - The CEO of Streamline Health expressed commitment to supporting the health system's revenue cycle, emphasizing the potential for significant financial impact and allowing clients to focus on community care [3]. Industry Context - The adoption of eValuator technology reflects a broader industry movement towards improving financial performance in healthcare, addressing revenue leakage, and ensuring compliance in billing practices [2][3].

Core Insights - Streamline Health Solutions has signed a contract to implement its RevID automated charge reconciliation technology with a 120-bed health system in Kentucky, marking its fourth CommunityWorks Oracle EHR client [1][2][3] - The RevID solution aims to enhance hospital financial performance by capturing 100% of earned revenue and accelerating cash flow through improved charge capture processes [2][3] Company Overview - Streamline Health Solutions focuses on providing integrated solutions and technology-enabled services to help healthcare organizations address revenue leakage and improve financial performance [3] - The partnership with Oracle Health is expected to strengthen Streamline Health's ability to deliver pre-bill solutions that integrate seamlessly with leading EHR platforms [3]

Core Insights - Streamline Health Solutions, Inc. has signed a contract with Deaconess Health System to utilize its eValuator solution for enhancing pre-bill coding accuracy and financial outcomes [1][3][4] - The eValuator solution is designed to improve coding and billing workflows, particularly within the mid-revenue cycle, leveraging automation to enhance accuracy [2][3] - Streamline Health aims to lead an industry movement focused on improving financial performance for health systems through advanced pre-bill technology solutions [3][4] Company Overview - Streamline Health Solutions, Inc. (NASDAQ:STRM) provides integrated solutions and technology-enabled services to help healthcare organizations address revenue leakage and enhance financial performance [5] - The company’s offerings include analytics that drive compliant revenue, contributing to improved financial outcomes across healthcare enterprises [5] Partner Overview - Deaconess Health System serves over 1.5 million residents across southwestern Indiana, western Kentucky, and southeastern Illinois, operating 19 hospital locations [5]

Core Insights - Streamline Health Solutions, Inc. has signed a new contract for the use of its RevID technology with a 400-bed health system in Western Texas, in partnership with Oracle Health [1] - RevID's automated charge reconciliation aims to capture 100% of earned revenue for hospitals, eliminating charge capture gaps and accelerating cash flow [2] - The integration of RevID with Oracle Health's Soarian billing platform enhances financial operations for health systems by automating charge reconciliation processes [2] Company Overview - Streamline Health Solutions focuses on enabling healthcare organizations to address revenue leakage and improve financial performance through integrated solutions and analytics [3] - The company is expanding its presence in Texas, a market identified as ideal for growth due to its innovative healthcare providers [3]

Financial Data and Key Metrics Changes - Total revenue for Q3 2024 was $4.4 million, down from $6.1 million in Q3 2023, with a nine-month total of $13.2 million compared to $17.2 million in the same period last year [37] - SaaS revenue for Q3 2024 was $2.9 million, representing 66% of total revenue, compared to $3.9 million (64%) in Q3 2023, with a nine-month total of $8.7 million (66%) versus $10.6 million (62%) in the prior year [38] - Net loss for Q3 2024 was $2.5 million, significantly improved from a net loss of $11.9 million in Q3 2023, with a nine-month loss of $8 million compared to $17.3 million in the previous year [39] - Adjusted EBITDA for Q3 2024 was a loss of $0.3 million, compared to a gain of $0.4 million in Q3 2023, reflecting lower total revenue and higher interest expenses [40] Business Line Data and Key Metrics Changes - Booked SaaS ACV as of October 31, 2024, totaled $14.1 million, with $12 million already implemented, indicating a strong pipeline for future revenue growth [36] - The company successfully closed new contracts with an aggregate SaaS ACV of $700,000 during Q3 2024, including the launch of the new eValuator quality module [12][13] Market Data and Key Metrics Changes - The healthcare revenue cycle departments are facing challenges due to complex reimbursement systems and labor market issues, which Streamline Health Solutions aims to address through its automation and insights [15][16] - The company is focusing on enhancing its solutions to provide actionable insights that help health systems improve their revenue cycle management [17][18] Company Strategy and Development Direction - Streamline Health Solutions is prioritizing the development of its eValuator and RevID platforms, with a focus on automation and quality measurement as key strategic initiatives [20][21] - The company is exploring additional non-equity capital sources to accelerate growth plans and enhance its product offerings [43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving an adjusted EBITDA positive run rate in the first half of fiscal 2025, earlier than previously expected, due to strong client interest and successful contract implementations [13][36] - The company anticipates significant revenue growth in fiscal 2025, driven by new bookings and the expansion of existing client relationships [43] Other Important Information - The new quality module for eValuator was developed through a nine-month pilot program and has already seen rapid adoption among clients, indicating strong market demand [19][22] - The company has made significant progress in developing best practice manuals for clients to enhance the implementation of its solutions [25] Q&A Session Summary Question: Can you expand on the 835 analysis and its implications for clients? - Management explained that incorporating 835 data allows for preemptive addressing of payer behaviors, enhancing the accuracy of billing and reimbursement processes [46][48] Question: How does the ROI for eValuator change with this implementation? - The response highlighted that the new approach allows leaders to compare cash impacts directly, potentially driving higher ROI by focusing on higher reimbursement rates [49][50] Question: What gives confidence to bring breakeven guidance forward? - Management noted strong client success stories and significant interest generated from recent marketing efforts, which are expected to translate into new contracts [52][55]

Core Insights - Streamline Health Solutions, Inc. reported a net loss of $2.5 million in Q3 fiscal 2024, a significant improvement from a net loss of $11.9 million in Q3 fiscal 2023 [1][5] - The company reiterated its expectation for a $15.5 million implemented SaaS ARR adjusted EBITDA breakeven run rate and has accelerated this expectation to the first half of fiscal 2025 [1][10] Financial Performance - Total revenue for Q3 fiscal 2024 was $4.4 million, down from $6.1 million in Q3 fiscal 2023. For the nine months ended October 31, 2024, revenue totaled $13.2 million compared to $17.2 million in the same period of fiscal 2023 [3][21] - SaaS revenue for Q3 fiscal 2024 was $2.9 million, representing 66% of total revenue, compared to $3.9 million (64% of total revenue) in Q3 fiscal 2023. For the nine months ended October 31, 2024, SaaS revenue was $8.7 million (66% of total revenue) compared to $10.6 million (62% of total revenue) in the same period of fiscal 2023 [4][21] Cost Management - The net loss for the nine months ended October 31, 2024, was $8.0 million, down from $17.3 million in the same period of fiscal 2023. This improvement was attributed to lower total revenues and higher interest expenses, offset by reductions in cost of sales, SG&A, and R&D expenses totaling $1.9 million and $5.3 million, respectively [5][7] - Adjusted EBITDA for Q3 fiscal 2024 was a loss of $0.3 million, compared to a gain of $0.4 million in Q3 fiscal 2023. For the nine months ended October 31, 2024, adjusted EBITDA was a loss of $1.3 million, an improvement from a loss of $1.8 million in the same period of fiscal 2023 [7][10] Cash Position - As of October 31, 2024, cash and cash equivalents were $0.8 million, down from $3.2 million as of January 31, 2024. The company had no outstanding balance on its revolving credit facility as of October 31, 2024, compared to $1.5 million as of January 31, 2024 [6][21] - The company received a $1.0 million draw from its revolving line of credit on November 20, 2024 [6] Strategic Outlook - The company’s total Booked SaaS Annual Contract Value (ACV) was $14.1 million as of October 31, 2024, down from $15.0 million as of January 31, 2024. However, $12.0 million of the Booked SaaS ACV was implemented as of October 31, 2024, compared to $11.1 million as of January 31, 2024 [8][10] - Management expressed optimism about expanding client relationships and improving financial performance, leading to an accelerated timeline for achieving adjusted EBITDA breakeven [11]

ATLANTA, Oct. 23, 2024 (GLOBE NEWSWIRE) --  Streamline Health Solutions, Inc. (NASDAQ: STRM), a leading provider of solutions that enable healthcare providers to improve financial performance, announced that it has expanded its relationship with an existing eValuator client include the recently released eValuator Quality Module. Streamline expects that this module will increase the SaaS revenues from its eValuator relationship with this client by 25%. Streamline Health is leading an industry movement to imp ...

ATLANTA, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Streamline Health Solutions, Inc. ("Streamline" or the "Company") (NASDAQ: STRM), a leading provider of solutions that enable healthcare providers to improve financial performance, today announced that it will proceed with a 1-for-15 reverse stock split (the "Reverse Stock Split") of its outstanding shares of Common Stock (the "Common Stock") following approval by its Board of Directors. The 1-for-15 ratio is within the range approved by the Company's stockholders ...

Net loss of ($2.8 million) during the second quarter of fiscal 2024 compared to a net loss of ($2.5 million) during the second quarter of fiscal 2023 Adjusted EBITDA improved to a loss of ($0.3 million) for the second quarter of fiscal 2024 compared to a loss of ($0.9 million) for the second quarter of fiscal 2023 Company reiterated $15.5 million implemented SaaS ARR adjusted EBITDA breakeven run rate expectation Company updated expectation for achievement of SaaS ARR adjusted EBITDA breakeven run rate to t ...