Wondrous Stock: Performant Financial Corporation (NASDAQ: PFMT)

On 20 Jan 2020, Performant Financial Corporation (NASDAQ: PFMT) spotted trading -61.59% off 52-week high price. On the other end, the stock has been noted 39.24% away from the low price over the last 52-weeks. The stock changed 0.00% to recent value of $1.1. The stock transacted 13829 shares during most recent day however it has an average volume of 15.89K shares. The company has 51.73M of outstanding shares and 32.87M shares were floated in the market.

Performant Financial Corporation (PFMT) recently stated the following financial results for its third quarter ended September 30, 2019:

Third Quarter 2019 Results

Total revenues in the third quarter were $35.9M, a raise of 30.1% from revenues of $27.6M in the previous year period. Healthcare revenues in the third quarter of 2019 were $10.8M, a raise of 50.0% from revenues of $7.2M in the previous year period. Combined CMS MSP and other CMS audit recovery revenues were $7.1M in the third quarter, a 69.0% increase over the previous year period. Commercial healthcare clients contributed revenues of $3.7M, a raise of $0.7M or 23.3% from the previous year period. Recovery revenues in the third quarter were $20.9M, a raise of $4.8M, or 29.8% from revenues of $16.1M in the previous year period. Revenues from our Consumer Care / Outsourced Services in the third quarter were $4.2M, a decrease of $56 thousand from the previous year period.

Net loss for the third quarter of 2019 was $8.1M, or $(0.15) per share on a fully diluted basis, contrast to net loss of $7.6M or $(0.15) per share on a fully diluted basis in the previous year period. Adjusted net loss for the third quarter of 2019 was $7.3M, resulting in $(0.14) per share on a fully diluted basis. This compares to an adjusted net loss of $7.1M or $(0.14) per fully diluted share in the previous year period. Adjusted EBITDA for the third quarter of 2019 was $(3.1M) as contrast to $(4.5M) in the previous year period.

As of September 30, 2019, the Company had cash, cash equivalents and restricted cash of about $8.5M.

“We are reiterating our full year 2019 adjusted EBITDA guidance range of ($6M) to ($2M). However, following the identification of some data matching issues related to a single line of business within Healthcare and potential delay in the recovery of a large-dollar claim under one of our third-party-liability contracts, we are revising our 2019 revenue guidance range to $147 to $152M, from $158 to $168M. This change has no impact on our long-term plan to successfully execute on our strategy, and we remain committed to our long-term revenue and EBITDA margin goals of $200M and 20% by 2021 respectively,” concluded Im.

Its earnings per share (EPS) expected to touch remained 38.70% for this year while earning per share for the next 5-years is expected to reach at 20.00%. PFMT has an operating margin of -14.20% while its profit margin remained -19.30% for the last 12 months. According to the most recent quarter its current ratio was 1.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of 10.86% from the mean of 20 days, 15.15% from mean of 50 days SMA and performed -13.58% from mean of 200 days price. Company’s performance for the week was -5.17%, 29.41% for month and YTD performance remained 7.84%.

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