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Streamline Health® Reports Fiscal Fourth Quarter and Full Year 2024 Financial Results
STRMStreamline Health(STRM) GlobeNewswire·2025-05-01 20:10

Core Viewpoint - Streamline Health Solutions, Inc. reported a decline in revenue for the fourth quarter and fiscal year 2024, primarily due to SaaS non-renewals and lower revenue from legacy contracts, while emphasizing a focus on innovation and client engagement to drive future growth [1][3][4]. Financial Performance - Total revenue for Q4 2024 was 4.7million,downfrom4.7 million, down from 5.4 million in Q4 2023. For the fiscal year, revenue totaled 17.9millioncomparedto17.9 million compared to 22.6 million in the previous year [3]. - SaaS revenue for Q4 2024 was 3.1million,representing663.1 million, representing 66% of total revenue, compared to 3.4 million (64%) in Q4 2023. For the fiscal year, SaaS revenue was 11.8million(6611.8 million (66%) versus 14.1 million (62%) in fiscal 2023 [4]. - The net loss for Q4 2024 was (2.1million),comparedtoanetlossof(2.1 million), compared to a net loss of (1.4 million) in Q4 2023. The total net loss for fiscal 2024 was (10.2million),animprovementfrom(10.2 million), an improvement from (18.7 million) in fiscal 2023 [5]. Cash Position and Liabilities - Cash and cash equivalents as of January 31, 2025, were 2.2million,downfrom2.2 million, down from 3.2 million a year earlier. The company had an outstanding balance of 1.0milliononitsrevolvingcreditfacility[6].−Totalliabilitiesincreasedto1.0 million on its revolving credit facility [6]. - Total liabilities increased to 23.3 million as of January 31, 2025, compared to 22.9millioninthepreviousyear[23].AdjustedEBITDA−AdjustedEBITDAforQ42024was22.9 million in the previous year [23]. Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was 35,000, down from 0.4millioninQ42023.Forthefiscalyear,adjustedEBITDAwasalossof(0.4 million in Q4 2023. For the fiscal year, adjusted EBITDA was a loss of (1.3 million), slightly improved from a loss of (1.4million)infiscal2023[7][28].BookedSaaSAnnualContractValue(ACV)−AsofJanuary31,2025,thetotalBookedSaaSACVwas1.4 million) in fiscal 2023 [7][28]. Booked SaaS Annual Contract Value (ACV) - As of January 31, 2025, the total Booked SaaS ACV was 14.0 million, down from 15.0millionayearearlier,largelyduetoclientnon−renewals,butoffsetby15.0 million a year earlier, largely due to client non-renewals, but offset by 3.5 million in new bookings during fiscal 2025 [8][9]. Future Outlook - The company expects to achieve an adjusted EBITDA positive run rate during the first half of fiscal 2025, although specific guidance on timing for bookings has not been provided due to unpredictability [11].