R1 RCM reports mixed Q3 results, revenue beats estimates

MURRAY, Utah - R1 RCM Inc . (NASDAQ:RCM ), a provider of technology-driven healthcare revenue cycle management solutions, reported mixed third quarter results, with revenue beating expectations but earnings falling short.

The company reported a net loss of $19.9 million, or $0.05 per share, compared to net income of $1.3 million in the same quarter last year. Adjusted earnings per share came in at ($0.05), missing analyst estimates of ($0.01).

Revenue for the quarter rose 14.7% year-over-year to $656.8 million, surpassing the consensus estimate of $640.93 million. The increase was driven by growth across all segments, with modular and other revenue up 26.7% to $221.4 million.

"R1 continued to successfully execute the onboarding of our newest end-to-end partner while navigating previously disclosed industry and customer-specific technology outages," said Jennifer Williams, R1 CFO.

Adjusted EBITDA declined 8.2% year-over-year to $148.2 million, which the company attributed to impacts on both revenue and costs from recent vendor and customer outages.

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Source: Investing.com