Streamline Health Solutions Inc. (NASDAQ:STRM) is moving a bit higher in the pre market session on Wednesday.
Major Trigger:
Streamline Health® Reports First Quarter 2021 Financial Results
Key Highlights:
- Total revenues for the first quarter of fiscal 2021 were $3.0 million, compared to $2.8 million in the prior year period. SaaS revenue was up $287,000, approximately 32%, compared to the same quarter a year ago.
- The revenue growth during the quarter was driven by higher revenue from SaaS and software licenses offset by lower revenue from professional services, audit services and maintenance and support.
- Net loss for the first quarter of fiscal 2021 was ($2.1 million) as compared to a net income of $3.7 million during the first quarter of fiscal 2020.
- Adjusted EBITDA for the first quarter of fiscal 2021 was a loss of ($0.7 million), compared to an adjusted EBITDA loss of ($0.6 million) in the first quarter of fiscal 2020.
Key Quote:
“I remain excited about the opportunities for revenue growth via our eValuator solution. As the healthcare provider industry recovers from the Coronavirus crisis, I believe we will see a return to more normal technology purchasing patterns. This won’t happen overnight, but we are seeing signs that the ROI our eValuator technology delivers helps us get to the top of the new initiative list with many of our prospects,” stated Tee Green, President and Chief Executive Officer, Streamline Health.
Market Reaction
As of 8:25, STRM is trading at $1.86, up 0.56%. So far more than 1K shares have exchanged hands.
