Ontrak, Inc. (OTRK) Reports Q2 Loss, Lags Revenue Estimates

Company Performance - Ontrak, Inc. reported a quarterly loss of $0.19 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.10, representing an earnings surprise of -90% [1] - The company posted revenues of $2.45 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 5.73%, and down from $2.96 million in the same quarter last year [2] - Over the last four quarters, Ontrak has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates during this period [2] Stock Performance - Ontrak shares have declined approximately 47.5% since the beginning of the year, contrasting with the S&P 500's gain of 9% [3] - The current Zacks Rank for Ontrak is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $3 million, while for the current fiscal year, it is -$0.40 on revenues of $11.8 million [7] - The outlook for the Medical - Outpatient and Home Healthcare industry, where Ontrak operates, is currently in the top 29% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]