Performant Financial Corp (OQ:PFMT)
Business Focus: Business Support Services
| Sector: Industrials | Industry: Business Support Services |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 333 North Canyons Parkway LIVERMORE CA 94551 |
| Tel: | N/A |
| Website: | https://www.performantcorp.com/home/default.aspx |
| IR: | See website |
| Key People | ||
| Lisa C. Im Executive Chairman of the Board | Simeon M. Kohl Chief Executive Officer, Director | Rohit Ramchandani Chief Financial Officer | Ian A. Johnston Chief Accounting Officer, Vice President |
| Business Overview |
| Performant Financial Corporation supports healthcare payers in identifying, preventing, and recovering waste and improper payments by leveraging advanced technology, analytics and data assets. The Company works with national and regional healthcare payers to provide eligibility-based, also known as coordination-of-benefits (COB) services, as well as claims-based services, which includes the audit and identification of improperly paid claims. It also provides advanced reporting capabilities, support services, customer care, and stakeholder training programs designed to mitigate future instances of improper payments. The Company offers these services in both government and commercial healthcare markets. It provides audit, eligibility, and recovery services to identify improper healthcare payments. The Company provides its services to government and private clients, such as private healthcare and Center for Medicare and Medicaid Services (CMS). |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Performant Financial Corp revenues increased 4% to $113.7M. Net loss increased 15% to $7.5M. Revenues reflect Healthcare segment increase of 12% to $106.4M. Higher net loss reflects Salaries and Benefits - Balancing value increase of 5% to $86.2M (expense), Gain on sale of land and buildings decrease from $1.1M (income) to $0K. |
| Employees: | 958 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $200.05M as of Dec 31, 2023 |
| Annual revenue (TTM): | $113.74M as of Dec 31, 2023 |
| EBITDA (TTM): | -$0.54M as of Dec 31, 2023 |
| Net annual income (TTM): | -$7.52M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$0.28M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 76,920,460 as of Mar 12, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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