R1 RCM (NASDAQ: RCM) reported Q4 EPS of ($0.10), $0.01 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $262.9 million versus the consensus estimate of $264.48 million.

Fourth Quarter 2018 Results:

• Revenue of $262.9 million, up $122.6 million and 87.4% compared to the same period last year
• GAAP net loss of $5.7 million, compared to GAAP net loss of $40.2 million in the same period last year
• Adjusted EBITDA of $27.1 million, up $21.4 million compared to the same period last year

Full Year 2018 Results:

• Revenue of $868.5 million, up $418.7 million and 93.1% compared to 2017
• GAAP net loss of $45.3 million, compared to GAAP net loss of $58.8 million in 2017
• Adjusted EBITDA of $57.0 million, up $52.9 million compared to 2017

“2018 was a pivotal year for the company, evidenced by improvement in our financial performance, new business wins, and our expansion into the physician space in a scalable manner with the acquisition of Intermedix,” said Joe Flanagan, President and Chief Executive Officer of R1. “We enter 2019 with strong momentum and a clear, differentiated value proposition. Our investments in initiatives such as digital transformation should drive further value for healthcare providers and patients.”

“Our financial performance improved materially in 2018, driven by successful onboarding of new customer business,” added Chris Ricaurte, Chief Financial Officer and Treasurer of R1. “We remain focused on continued strong operational execution to deliver on the financial goals we have provided for 2019.”

GUIDANCE:

R1 RCM sees FY2019 revenue of $1.15-1.25 billion, versus the consensus of $1.19 billion.

• GAAP operating income of $50 million to $80 million
• Adjusted EBITDA of $145 million to $165 million

For earnings history and earnings-related data on R1 RCM (RCM) click here.