Performant Financial Inc. (PFMT) stock fell during pre-market trading. Let’s see why?

0
539
CLNE Stock
CLNE Stock

Performant Financial Inc. (NASDAQ: PFMT) stock declined by 5.57% at the last close while the PFMT stock price plunge by 1.26% in the pre-market trading session. In the United States, Performant offers technology-enabled audit, restoration, and analytics services, with an emphasis on the healthcare payment integrity market. Performant helps healthcare payers to identify erroneous payments using claim auditing and eligibility-based services.

>> 7 Top Picks for the Post-Pandemic Economy << 

PFMT stock, Financial Highlights

Performant Financial announced its second-quarter 2021 financial results, the main points are stated below:


Will You Miss Out On This Growth Stock Boom?

A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.

And this is just one of our 5 Best Growth Stocks To Own For 2023.

Sponsored


  • For the second quarter of 2021, the revenue generated was $32.8 million whereas the revenue for the second quarter of 2020 was $33.8 million.
  • In the prior year quarter, the company had a net loss of $7.2 million, or $0.13 per diluted share, relative to a net loss of $1.5 million, or $0.03 per diluted share for second-quarter 2021.
  • Adjusted net income was $0.5 million, or $0.01 per diluted share for the second quarter of 2021, relative to an adjusted net loss of $0.7 million, or $0.01 per diluted share for Q2 2020.
  • Adjusted EBITDA was $4.2 million, down from $4.3 million the previous year.
  • PFMT has about $12.2 million in cash, cash equivalents, and restricted cash as of June 30, 2021.

Read More

Lisa Im, CEO of Performant commented,

Their plan to transition mainly into a healthcare payment integrity services firm is on track, as seen by their second-quarter results, which saw healthcare revenues increase by more than 27% year over year.

They feel there is a huge possibility for them to acquire market share and develop in the healthcare industry. However, the recent increase in the Delta variant of COVID-19 raises some doubts about probable activity slowdowns or stops in the next quarters. They are adopting a measured approach in light of the uncertainties, refining our 2021 healthcare revenue estimate to a range of $80 – $85 million while remaining confident in delivering positive EBITDA results.

LEAVE A REPLY

Please enter your comment!
Please enter your name here