- Q3 2018 Record Billings of $6.3 Million, Up 210% Year over Year and Up 21% from Q2
- Q3 2018 Record GAAP Revenue of $4.4 Million, Up 266% Year over Year and up 33% from Q2
- Reiterates 2018 Billings Guidance of $20.0 Million
- Company Issues 2019 GAAP Revenue Guidance of $35 Million
- Company to Host Conference Call at 4:30 pm ET Today
Key Quote: “Billings for the third quarter of 2018 were in line with our expectations, given our strong performance in July. ... With our continued success in expanding relationships with existing health plan partners and launching enrollment with new customers in the first nine months of 2018, we have achieved $14.5 million in billings for the period and are on track to achieve our previously provided guidance of $20.0 million in annual billings for 2018.” Mr. Terren Peizer, Chairman and CEO of Catasys (NASDAQ: CATS)
The Backstory: Catasys’s OnTrak solution improves member health while reducing inpatient and emergency-room utilization, driving a reduction of more than 50% in enrolled health insurers’ costs. OnTrak is currently available in 22 states to members of several leading health plans, including six of the nation’s largest plans. Company’s billings increased 210% to $6.3 million and GAAP revenues increased 266% to $4.4 million in 3Q18. Going forward, the Company reiterates 2018 billing guidance of $20 million and has provided revenue guidance of $35 million for FY19.
Disclosure
Catasys (NASDAQ: CATS) is a client of RedChip Companies, Inc. CATS agreed to pay RedChip Companies, Inc. a monthly cash fee for RedChip investor awareness services and consulting services.
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