NextGen Healthcare, Inc. (Nasdaq: NXGN), a leading provider of innovative, cloud-based healthcare technology solutions, today announced its operating results for the fiscal first quarter ending June 30, 2023.
Fiscal 2024 First Quarter Highlights
- Total revenue was $178.2 million compared to $153.3 million for the same period a year ago, an increase of 16.2%.
- Recurring revenue was $163.4 million compared to $139.8 million for the same period a year ago, an increase of 16.9%.
- Non-recurring revenue was $14.8 million compared to $13.5 million for the same period a year ago, an increase of 9.5%.
- Fully diluted net income per share was $0.09 compared to $0.02 for the same period a year ago.
- On a non-GAAP basis, fully diluted earnings per share was $0.24 compared to $0.16 for the same period a year ago.
- Adjusted EBITDA was $27.7 million compared to $20.1 million for the same period a year ago.
- Bookings, which reflects annual contract value excluding renewals, were $38.9 million and included four deals greater than $1.0 million.
“We are pleased to report solid top and bottom-line results to start the new fiscal year,” said David Sides, president and chief executive officer of NextGen Healthcare. “Building on the momentum created during fiscal 2023, the Company executed across all fronts and is well positioned to deliver double-digit revenue growth, create operating leverage, and demonstrate effective capital management.”
Updating Fiscal 2024 Full-Year Guidance
- Revenue is expected to be in the range of $714 million to $722 million, an increase from prior guidance range of $712 million to $722 million.
- Adjusted EBITDA is expected to be in the range of $125 million to $131 million, consistent with prior guidance.
- Non-GAAP earnings per share is expected to be in the range of $1.04 to $1.11, consistent with prior guidance.
Source: https://www.nextgen.com/
