STREAMLINE HEALTH SOLUTIONS INC. SEC 10-Q Report

Streamline Health Solutions Inc., a leading provider of healthcare software solutions, has released its latest Form 10-Q report, highlighting significant improvements in financial performance and strategic shifts in its business operations. The report covers the company's financial and operational results for the most recent quarter, showcasing growth in key areas and outlining future expectations.

Financial Highlights

• Total Revenues: $4.81 million, increased by 11% compared to the prior year period, driven by growth in Software as a Service (SaaS) revenue.
• Operating Loss: $1.10 million, improved from a loss of $2.25 million in the prior year period, reflecting cost management and increased revenue.
• Net Loss: $1.65 million, improved from a net loss of $2.74 million in the prior year period, indicating better operational efficiency.
• Net Loss Per Common Share – Basic and Diluted: $(0.40), improved from $(0.71) in the prior year period, reflecting reduced losses and increased share count.

Business Highlights

• Revenue Segments: The company reported an increase in Software as a Service (SaaS) revenue by $636,000, driven by successful implementations of the eValuator and RevID products. However, there was a net decrease of $452,000 due to customer non-renewals.
• Revenue Segments: Maintenance and support revenue decreased by $153,000, reflecting the company's strategic shift towards prioritizing SaaS products over traditional maintenance and support services.
• Revenue Segments: Professional fees and licenses saw a slight decrease of $3,000, with a notable decline in license revenue by $135,000, as the company focuses on transitioning from perpetual software licenses to a SaaS model.
• Revenue Segments: Audit services revenue increased by $148,000, attributed to both existing and new clients utilizing the company's audit services, indicating strong demand for these services in the market.
• Future Outlook: The company anticipates that SaaS revenue will remain relatively flat for the remainder of fiscal 2025 as it continues to execute and deliver on signed agreements.
• Future Outlook: Maintenance and support revenue is expected to continue declining due to anticipated contract non-renewals and limited new sales.
• Future Outlook: The company expects professional services revenue to fluctuate based on the timing and combination of products currently being implemented.
• Future Outlook: The company believes that demand for its audit and coding services will remain strong, with expectations for these services to remain relatively flat throughout the remainder of fiscal 2025.

SEC Filing: STREAMLINE HEALTH SOLUTIONS INC. [ STRM ] - 10-Q - Jun. 16, 2025