NantHealth (NHIQ) 8 May 222022 Q1 Earnings call transcript

Welcome, everyone, and thank you for joining us today to discuss NantHealth's 2022 First Quarter Financial Results.

On the call today are Ron Louks, Chief Operating Officer; and Bob Petrou, our Chief Financial Officer. This call is being broadcast live at www.nanthealth.com. A playback will be available for three months on NantHealth's website. I'd like to make the cautionary statement and remind everyone that forward-looking information discussed on today's call is covered under the Safe Harbor provisions of the Litigation Reform Act. those will aspects information and of could materially today forecast management's actual discussion differ certain implied. of the from company's include reflecting forward-looking current results The or stated company's future,

press press other addition, to different financial those that Bob financial announcing measures U.S. issued from financial Reconciliation measures non-GAAP release financial results. generally non-GAAP the the who referred accordance a principles, In including review by for accounting reasons by will earlier prepared results measures financial measures directly of call, for financial most in is announcement. financial also company's are this results In the today. XXXX we non-GAAP to companies. during full and encouraged release financial business to Ron non-GAAP followed earnings moment, will first accepted in measures NantHealth's not attached GAAP Investors its discuss the are to with course its may comparable used discuss of be quarter the company's the

I open We said, With that Ron? call now Ron turn for the questions. then the over call to will will Louks.

Thanks, to first financial NantHealth's conference and everyone, quarter Robert. call. XXXX afternoon, results Good welcome

performance, financial Turning briefly momentum million with in QX, revenue reported to our increasing the quarter we million. total $XX positive previous total over $XX.X to revenue of

enhanced enrichment expansion our and These including is product results and growth capabilities. and functionality invest Our delivering the services, development our NantHealth data further our to products In customer OpenNMS to of customer continue on in to main products drive of interactive demand new are help strategy We're in our the cloud cloud access launches investments portal of to form analytics of and data beyond services. services seeing oncology Eviti expanded added and example, pilot Connect, for and partner by services continue programs for also offered autoimmune group. reporting. grow through diseases. interest for a recently

are optimistic across our we increasingly result, about prospects portfolio. As a the

first decisions let's for signed programs. with services radiation multiyear multi-state to of with software services, the new a complete plan renewal to expands had to to The oncology we addition business, we in capabilities oncology portions quarter, customers prior plan, to the sponsored discuss the In delegation assign serving the addition nonprofit patients. significantly enables speeds full including This treatment business. Connect allows services authorization medical Eviti expanded full of based agreement our approve a oncology scope beginning the include This government plan leading services functionality Eviti and to Now, care. We authorization a provided code customers and need health and plan our Also, up a delegation radiation Eviti a evidence to and assign health eliminates to for oncology. that NantHealth. prior plan. treatment resubmission of

earned Turning HITRUST for the is highly Award, prestigious Care processes in new and product has platform's to continues ensures industry security. of digital award. NantHealth recognized and a to Open and May need a with XXXX, status Insurance payer the stringent authorizations health for technology year this collection worldwide the In plan. additional follow NaviNet automating procedure organizations defined NaviNet This ability for code enhanced reducing recognized and requirements. NantHealth certification, which is have And a the innovative health in that we breakthrough markets. manual by second up modifiers an row been for to won NaviNet be of the Health engagement, group this we the regulations received that places Innovation elite MedTech Open security that key Breakthrough This NantHealth Open benchmark information for

products professional to a financial appliance the available our detail. fuel several and profit business, with processing, we network a Turning hardened and for electronics annual hardware launches to our with helped services overview communication completed customers in that XXXX, first subscribers. expanding drive invest optimized OpenNMS Bob maintenance of addresses. analytics QX. XU our released of beta simplified more security, features up, improved OpenNMS existing to with the to signed global NetFlow Group. solid Bob? program platform enhanced over IP delivery gross to We versions monitoring Meridian using growth. XXXX Meridian our the service finally, retailer. continue performance, OpenNMS agreements the We to large our Horizon OpenNMS version To to with hardware and quarter from sum enhanced development our consumer and With I'll we the of geolocation results Recent the further reported appliances, And Minion platform. the new and call Meridian revenues plan and increases in improved to is discuss business, of turn QX of

you, Thank Ron.

in revenue from million growth quarter. year with XX% periods. prior For year. year to was in year-on-year quarter due mainly $X.X total Total XXXX increased in compared our $X.X the This $XX.X quarter. driven expenses quarter first Eviti product million, our QX quarter of by was mostly same the X.X% development the in continued million revenue first prior grew the quarter-on-quarter million first in versus solutions. $XX.X was XXXX. million the $XX.X The million for of the for Gross $XX.X Quarter-on-quarter profit to and XXXX, product for QX funding margin compared were prior with of the a offerings. total operating the increases revenue as was percent the Gross both

approximately operations last from continuing QX loss share. the $X.XX This per with For in compared year or share. $X.XX first per per a quarter million $X.XX from share was $XX.X share prior operations million or the $XX.X quarter. is first loss or in of On QX net with is net basis, $X.XX million $X.X XXXX, non-GAAP or was year. compared $XX This in per continuing million,

required XXXX. was approximately With $XX.X now at that approximately which was $XX.X in at million, OpEx working million are were by driven turn March will other the and quarter Usage XX, back the over equivalents December cash with compared every cash first that, of year. and cash to Robert. growth in capital I of XXXX, call $XX Finally, XX, needs million

Thanks open Bob. to the up the completed Operator, We’d like remarks. now call we've to questions. prepared

Thank Instructions] you. One moment, [Operator please, first the for question.

at [Operator the I will Instructions] no back There are now this to questions the time. turn presentation speaker.

to look planned operator, Thanks, today. call. next joining you, forward everyone, our night. and our on thank progress us a for Have good conference We sharing