Tabula Rasa HealthCare Inc. (TRHC) surged 8.45% in after-hours on Friday, November 05, 2021, and close the weekly trading at $15.40. However, in the regular trading session, TRHC’s stock lost 52.28%. TRHC shares have fallen 58.62% over the last 12 months, and they have moved down 47.70% in the past week. Over the past three months, the stock has lost 61.42%, while over the past six months, it has declined 68.32%.
Let’s see what are the latest news about the company?
TRHC recent financial results
On November 4, 2021, Tabula Rasa HealthCare, Inc. (TRHC), reported financial results for the third quarter ended September 30, 2021.
Q3 2021 financial highlights
- TRHC reported total revenue of $86.6 million in Q3 2021 compared to $70.5 million in Q3 2020.
- The total cost of revenue was $61.16 million in Q3 2021 compared to $49.25 million in Q3 2020.
- Total operating expenses were $40.17 million in Q3 2021 compared to $39.95 million in Q3 2020.
- It suffered a net loss of $17.1 million in Q3 2021 compared to a net loss of $21.6 million in Q3 2020.
- Non-GAAP adjusted EBITDA was $5.7 million in Q3 2021 compared to $5.1 million in 2020.
Q4 2021 financial outlook
For Q4, 2021, the company is expecting
- Revenue in the range of $84 million to $86 million.
- Adjusted EBITDA in the range of $4 million to $5 million.
FY 2021 financial outlook
- For full FY 2021, total revenue is to be expected in the range of $329.6 million to $331.6 million.
- Adjusted EBITDA is expected to be $19.3 million to $20.3 million.
TRHC partnership with TrackMy Solutions
On November 2, 2021, Tabula Rasa HealthCare, Inc (TRHC), announced a partnership with TrackMy® Solutions Inc. to provide opt-in and secure, verified vaccine status information for its TrackMy VeriVax vaccine verification management service.
TRHC agreement with PAI
On October 18, 2021, Tabula Rasa HealthCare, Inc.® (TRHC) signed a Letter of Intent with the Pharmaceutical Association of Israel (PAI) to promote TRHC’s propriety MedWise® Science among pharmacists in community, hospital, and academic settings in Israel and the Palestinian Authority.
TRHC collaboration with NADSA
On October 13, 2021, CareVention HealthCare, a Tabula Rasa HealthCare, Inc. (TRHC) division partnered with the National Adult Day Services Association (NADSA) to help support NADSA’s mission to advance the development, recognition, and use of adult day services nationwide.
TRHC deal with ASCP
On October 7, 2021, Tabula Rasa HealthCare, Inc. (TRHC) announced the findings of a MedWise® ASCP member-tested demonstration at the ASCP’s Annual meeting November 4-7, 2021 in San Diego, CA. the findings showed that implementing MedWise clinical decision support tools can decrease the risk of adverse drug events in the long-term-care population.
Conclusion
The TRHC early significant loss was due to its poor financial results which missed the estimates but we were unable to find any reason behind its minor recovery in the after-hours on Friday.
