Core Insights - The company is undergoing a leadership transition with Ben Albert stepping in as CEO, focusing on long-term success and addressing challenges with clarity and discipline [5][6][15] - A strategic review is being conducted to maximize shareholder value, with an emphasis on simplifying operations and improving communication about the company's business model [14][31] Financial Performance - For the full year 2025, the company generated $311.1 million in revenue, reflecting a 1% year-over-year growth, while adjusted EBITDA was $41.4 million, representing a 59% increase year-over-year [17][22] - In Q4 2025, total revenue was $74.7 million, down from $79.6 million in the prior year, with technology revenue at $51.9 million and professional services revenue at $22.8 million [18][19] - Adjusted gross margin for Q4 2025 was 53.5%, up from 46.6% in the prior year, while the full year adjusted gross margin was 51.1% [20][22] Strategic Initiatives - The company is focusing on tightening leadership and execution discipline, including appointing general managers for key business areas and searching for a Chief Operating Officer and Chief Marketing Officer [7][8] - A fresh approach to execution is being implemented, with a focus on technology bookings, improving retention, and leveraging intellectual property to solve healthcare challenges [12][13] Market Conditions and Challenges - The company is experiencing pressure from the transition of clients from the DOS platform to the Ignite platform, with an expected revenue decline in Q1 2026 due to various factors including downselling and migration-related challenges [24][25] - Approximately $12.5 million in DOS-related annual recurring revenue (ARR) is at risk, with an additional $52 million subject to negotiation, primarily affecting 2026 and 2027 [56][57] Future Outlook - The company is not providing full-year guidance for 2026 but expects Q1 revenue to be between $68 million and $70 million, with adjusted EBITDA between $7 million and $8 million [23][16] - The focus will remain on operational efficiency and targeted investments to support growth and retention initiatives, with expectations of improved cost structures in the latter half of the year [24][28]