Inovalon (INOV) Tops Q1 EPS by 2c, Beat on Revenues

Inovalon (NASDAQ: INOV) reported Q1 EPS of $0.07, $0.02 better than the analyst estimate of $0.05. Revenue for the quarter came in at $108.3 million versus the consensus estimate of $101.89 million.

First Quarter 2017 Financial Results

• Revenue for the first quarter of 2017 was $108.3 million, compared with $102.7 million for the first quarter of 2016.
• Cost of revenue for the first quarter of 2017 was $38.3 million, or 35.3% of revenue, compared with 40.8% of revenue for the first quarter of 2016. This translates into gross margin for the first quarter of 2017 of 64.7% compared with 59.2% for the first quarter of 2016, an increase of 550 basis points.
• Net income for the first quarter of 2017 was $3.6 million resulting in diluted net income per share of $0.02, compared with $2.4 million and $0.02 per share, respectively, for the first quarter of 2016.
• Adjusted EBITDA was $25.0 million for the first quarter of 2017, compared with $18.5 million for the first quarter of 2016, an increase of 35%. Adjusted EBITDA margin was 23.0% in the first quarter of 2017, compared with 18.1% for the first quarter of 2016, an increase of 490 basis points.
• Non-GAAP net income was $9.7 million for the first quarter of 2017, compared with $7.5 million for the first quarter of 2016, an increase of 29%. Non-GAAP diluted net income per share for the first quarter of 2017 was $0.07, compared with $0.05 per share for the first quarter of 2016.

For earnings history and earnings-related data on Inovalon (INOV) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c
• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance