The stock of Ontrak Inc (OTRK) closed the recent trading session at $2.54, gaining 9.96% from the previous trading session. On the last check, the stock of OTRK followed a bearish trend in the after-market, losing 27.17% to $1.85. The company released the fiscal performance for Q4 and FY2021. OTRK also filed form 8-K with the SEC for the release of fiscal performance.
OTRK Financials
On 8 March 2022, the company released the financial performance of Q4 and FY2021, which concluded on 31 December 2021. The highlights of the fiscal performance are
- Ontrak’s total sales for Q4 of FY21 were reduced by 64.6% to $10.3 million versus $29.2 million in Q4 of FY20. Also, the total sales in FY2021 grew by 1.56% to $84.1 million compared to $82.8 million in FY2020.
- Moreover, the company’s profit saw a decline of 60.5% to $6.2 million in Q4 of FY21 against $15.8 million in the same year-ago period. Also, the profit in FY2021 saw a growth of 34.8% to $52.9 million compared to $39.2 million in FY2020.
- OTRK had a total loss of $20.05 million in Q4 of FY21 versus $3.2 million in Q4 of FY20. The total loss in Q4 of FY21 saw an increase of 520.0%. Also, the total loss in FY2021 expanded by 63.5% to $37.1 million against $22.7 million in FY2020.
- Further, the loss of $1.12 and $2.47 in Q4 and FY2021, respectively.
CEO Remarks
The CEO of Ontrak Inc (OTRK), Jonathan Mayhew, commented that they tracked down critical ways of setting up the firm for accelerated improvement and advantage during the last quarter of 2021. He further added that they have started the execution of their AI-improved clinical model, which will incorporate their wellbeing treatment network.
FY2022 stance
Ontrak Inc (OTRK) estimates the revenue for FY2022 to be between $25 million and $30 million.
About OTRK
Ontrak Inc gives information examination based on social wellbeing to the board and incorporated treatment administrations into wellbeing plans. The company has a market cap of $52.55 million with 20.69 million pending shares. OTRK has its base in Santa Monica, California, United States of America (USA).
