NH - Earnings call transcript Q1 2021

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the NantHealth 2021 First-Quarter Financial Results Conference Call. [Operator instructions] Thank you. I'd like to turn it over to Mr. Robert Jaffe, investor relations at NantHealth.

You may begin the conference, sir.

Robert Jaffe

you financial us results. thank NantHealth's to and first-quarter XXXX everyone, for today joining discuss Welcome,

officer. being of On and cautionary chief playback NantHealth's Bob of financial website. operating all call will remind officer; call the today three to and everyone Petrou, are be available I'd our that months www.nanthealth.com. like live statement at broadcast Ron for Louks, This A is on chief the information the make information, the stated provisions results the those of or from on safe discussion the company's actual is today's reflecting of differ future, company's forecast forward-looking Reform under covered Litigation implied. today discussed call current certain include The aspects materially could and Act. harbor will management's

Bob, also directly financial GAAP non-GAAP financial quarter discuss moment, more detail. Ron most reconciliation brief will call, this review encouraged of we measures financial a not results the overview measures of who principles release reasons non-GAAP full company's XXXX of course by its used may first-quarter that to to and discuss the company's the from other financial generally the are release non-GAAP for the and during in may measures companies. today. in The measures addition, results prepared earnings those the to In the accepted non-GAAP announcing for a are financial financial announcement. contained financial including financial its business, NantHealth's is by with press results measures accordance press U.S. accounting different refer be earlier In in Investors comparable issued will in followed provide

Ron? will call Ron said, questions. over With then will call Louks. open turn the We I now to that the for

Ron Louks

from a to $XX.X revenue Thanks, and with of Robert. call. million well. Good review software-related revenue hope and results. Nearly our families We everyone, results total of of all of conference margin and as all I'll financial our R&D continued your remain our OpenNMS in investments quarter our you million begin our our AI welcome brief $X.X and million was our NantHealth's discuss detail data to $X XXXX safe expanding financial will more and first-quarter developing was shortly. afternoon, and Bob capabilities gross XX%. acquired we recently our further the business. for financials SaaS offerings, expense increased in

in completed Turning capital financing allow transaction. we and to to transaction few benefits business. debt extending XXXX investments capital from ago, The our of $XXX.X existing our weeks maturity the providing A our structure. include of this XXXX broader for million

pleased this very with obviously transaction. are We

I'll our let's software Eviti services Now and business. discuss business. begin with our

announced Connect, further Evity new May, into platform drug alone, for in an which Connect prestigious payers that providers best we innovative flexibility the and and the We our capability expansion Eviti flexible Connect This Also the business. we aid important Eviti medical our in related announced beyond also Connect. will solution allow Connect's than U.S. won first recognizes is overall people a note, for us disease for which On affect that to payer major that have launched developed that additional a we optimizing patient ability for XX During week, included and represent for plan oncology. area functionality and quarter, review. reduces Eviti for launched treatment oncology. Eviti million added more Earlier making autoimmune Connect diseases we that digital new tech Autoimmune states, Connect this new for this processes a award a award, the breakthrough med expand applications extending diseases, Eviti streamline technology new enables outcomes. payer customization and to health which through in bring Eviti Eviti communication X.X, delays tech milestone provides in markets med software. a

We providing a NaviNet's greater workflows launched integrates payer we that patient. seventh QX, automation contracts recorded enhanced combining into view In usability customer support secured more one we data offering to and to promote of thre into renewal product $XXX,XXX secured NaviNet consecutive launched Turning quarter multiyear tools. solution our recently Population Health new to and sources multiple have its direct-to-provider Management the essential growth. the complete that Health contract Population Management, a engagement. platform, value. AllPayer, of

to continue our to our of expanded cloud I'll Connect a to data services, appliance new that zero-touch our we for retailer. network time, communications network capabilities. significantly sum the expect we to We recently monitoring business, our in to national our financing monitoring the scales over a a analysis flow. aggregating convertible additional overview global discuss our debt The results deployed financial will extended our Eviti And notes. acquired for the detail. OpenNMS, we by which provides that expand in disease the To customer Turning invest business to diseases, more we additional of large important resources in the we initiated over existing in With streams, net new service solution of energy into and initiatives. Bob and solution financing we and SaaS with up, call support growth maturity offerings, And a pilot turn state. an announced Bob? solution a retire data

Bob Petrou

you, Ron. Thank

and The million total is compared For tied the due year. professional of decrease XX% of of was in in higher gross XXXX to in a QX expenses in million quarter. pressure generated mainly cost the the prior-year QX Total the NaviNet margin XX% $XX.X to manage million and $XX.X value and revenue revenue million, our data prior $XX.X operating $XX.X of in by from offerings. prior remain quarters, under total higher offset million expenses Gross increased margin Gross to percent mainly XXXX. million versus $XX.X were the with than the million in decline base is higher QX two to the was OpenNMS. same investments million on profit the for last only $X.X in amortization product continued year. to quarter decrease is million, lower until will from $XX.X was were $XX respectfully. required the the which completion our $XX.X service This operating or marginally projects XX% The quarter. revenue expected first XXXX, The the of driven or revenue,

We products on cost continue expect small in build and we growth continue to a to new as offerings.

million in is This was million attributable $XX.X with of from operations per share. $X.X per a On attributable prior-year $X.X QX with in share. to QX share share XXXX from net the or continuing first XXXX, NetHealth $X.XX $X.XX basis, net is or loss quarter. per last or from operations the compared continuing was This per compared million For $X.XX NetHealth loss $X.X non-GAAP quarter $X.XX to first year. or million

now back balance. front-end Subsequent will to over close, I XXXX, million uses we Finally, by was March of to loaded at XXXX. of the of the with cash mainly and $XX cash our IT be and approximately call cash which $XX.X costs, investments, on our other were million QX cash QX cash. close end in turn that, able Net additional reflected million, will equivalents XX, compared at driven yearly were $XX.X With Robert. usage to was which financing,

Robert Jaffe

now Thanks, we folks. Bob. will questions from Operator, entertain

Operator

this sir. sir. time, Certainly, instructions] [Operator questions any We at don't have

Robert Jaffe

conference sharing progress our everyone, Thanks look joining forward on We scheduled again for to us us joining Thanks, call. next Okay. our today. for today.

Operator

concludes And Thank you call. all today’s participating. this conference for

now disconnect. may You

Robert Jaffe	Investor Relations Officer
Ron Louks	Chief Operating Officer
Bob Petrou	Chief Financial Officer

NantHealth (NHIQ) 8 May 212021 Q1 Earnings call transcript