R1 RCM Q1 revenue up 10.7% to $603.9M; GAAP net loss of $35.1M on cyberattack impact

R1 RCM Inc. /DE

2024-Q1 EPS reported -$0.08 revenue$603,900,000

Revenue $603.9M (+10.7% YoY); GAAP net loss $35.1M vs net income $1.6M prior year.
Adjusted EBITDA $152.2M vs $142.2M prior year; $9.5M hit from Change Healthcare cyberattack and modular customer bankruptcy.
FY2024 guidance updated: revenue $2.60-$2.64B; adjusted EBITDA $625-$650M.
Onboarding of largest new customer began during Q1; CEO cites platform strength and flexibility.
Operating income guidance lowered to $85-$105M due to cyberattack and customer bankruptcy impacts.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

R1 RCM Inc. /DE reported the three months ended March 31, 2024 results: revenue $603.9 million, net income GAAP net loss of $35.1 million. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $603.9 million
Net income: GAAP net loss of $35.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

hospitals, and physician groups, today announced results for the three months ended March 31, 2024 and updated full year 2024 outlook. First Quarter 2024 Results: • Revenue of $603.9 million, up $58.3 million or 10.7% compared to the same period last year. • GAAP net loss of $35.1 million, compared to net income of $1.6 million in the same period last year. •

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Source: SEC EDGAR

accession 0001628280-24-021362

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