-
Total Q1 Revenue of $22.3 Million, Up 17% from $19.1 Million in
Prior Year Q1
-
SAAS Revenue of $16.2 Million in Q1, Up 9% from $14.8 Million in
Prior Year Q1
-
Total Gross Margin increased to 50% in Q1, Up from 40% in Prior
Year Q1
-
Study Results Demonstrating Benefits of Performing Tumor/Normal DNA
and RNA Sequencing Published in Peer-Reviewed Medical Journal, Oncotarget
-
Molecular Analysis Revenue for Q1 Increases 65% from Prior Year Q1
-
677 GPS Commercial Tests Ordered in Q1, Up 12% from Q4 2017
-
GPS Tests Ordered Continued to Grow in Q1
-
Restructuring Plan and Sale of Provider/Patient Engagement
Solutions Business Continued to Reduce Operating Loss
CULVER CITY, Calif.--(BUSINESS WIRE)--
Changes have been made to the "Supplemental Revenue Schedule" and
"Non-GAAP Net Loss and Non-GAAP Net Loss Per Share" financial tables.
The corrected release reads:
NANTHEALTH REPORTS 2018 FIRST-QUARTER FINANCIAL RESULTS
-
Total Q1 Revenue of $22.3 Million, Up 17% from $19.1 Million in
Prior Year Q1
-
SAAS Revenue of $16.2 Million in Q1, Up 9% from $14.8 Million in
Prior Year Q1
-
Total Gross Margin increased to 50% in Q1, Up from 40% in Prior
Year Q1
-
Study Results Demonstrating Benefits of Performing Tumor/Normal DNA
and RNA Sequencing Published in Peer-Reviewed Medical Journal, Oncotarget
-
Molecular Analysis Revenue for Q1 Increases 65% from Prior Year Q1
-
677 GPS Commercial Tests Ordered in Q1, Up 12% from Q4 2017
-
GPS Tests Ordered Continued to Grow in Q1
-
Restructuring Plan and Sale of Provider/Patient Engagement
Solutions Business Continued to Reduce Operating Loss
NantHealth, Inc. (NASDAQ-GS: NH), a next-generation, evidence-based,
personalized healthcare company, today reported financial results for
its first quarter ended March 31, 2018.
Molecular Analysis – Highlights
-
Expanded Molecular Analysis Portfolio: Molecular Analysis
portfolio expanded to include proprietary blood-based tumor profiling
services, with beta launch of 26-analyte profiling test.
-
In-Vitro Diagnostic (IVD) Filing with FDA for circulating free DNA
(cfDNA) Liquid Biopsy Platform: In Q1 2018, the company submitted
a medical device application with the FDA for its proprietary cfDNA
liquid biopsy platform.
-
Commenced Beta Launch of GPS Ordering and Results Portal
enabling ordering physicians to electronically receive GPS results and
request molecular tumor board and Medical Affairs consultations.
-
Test Growth: The company reported 677 GPS Cancer® commercial
tests were ordered in Q1 2018, up from 606 in Q4 2017.
-
Key Publication: In Q2 2018, results of a company sponsored
study were published in Oncotarget, a peer-reviewed bio-medical
journal. The study results demonstrate the significant gains in
accuracy by performing tumor/normal DNA and RNA sequencing and the
risks associated with high error rates of tumor only sequencing. https://nanthealth.com/Oncotarget
Publication
-
New National GPS Cancer Payer: In Q1 2018, as previously
announced, the company signed a new GPS Cancer reimbursement contract
with a large, national healthcare IT company.
-
New Lab Services Arrangement: In Q1 2018, as previously
announced, the company signed a laboratory services agreement with a
20+ facility hospital system for the availability of GPS Cancer
testing to its patient community.
-
Expanded International Adoption: In Q1 2018, as previously
announced, the company signed a strategic reseller agreement with a
partner in the United Kingdom for the provision of molecular analysis
services for clinical studies and other research initiatives.
-
FDA Submission: In Q1 2018, as previously announced, the
company submitted a 510(k) premarket notification application to the
FDA for tumor/normal DNA sequencing.
“We are excited about the opportunity to feature GPS Cancer and our new
liquid biopsy platform in 11 presentations at next month’s American
Society of Clinical Oncology (ASCO) Annual Meeting, a significant and
auspicious milestone for NantHealth,” said Sandeep (Bobby) Reddy, M.D.,
Chief Medical Officer of NantHealth. “In conjunction with these
presentations, we plan to unveil to the oncology community at ASCO and
commence the commercial launch of our liquid biopsy test, a 26 analyte
test for circulating-free DNA (cfDNA) and RNA (cfRNA) extracted from
patient blood permits non-invasive detection of expressed
biomarkers and monitoring of response to immunotherapies such as
Keytruda® or Opdivo® or resistance to anti-androgens such as Xtandi®.”
Software and Services Highlights:
-
Payer Engagement (NaviNet):
-
In Q1 2018, NantHealth’s industry leading Document Exchange
solution was upgraded to include an enhanced document viewer and
the ability for payers to tag and categorize documents.
-
In Q1 2018, as previously announced, the company signed a
three-year renewal contract with a total contract value of
approximately $17 million.
-
Clinical Decision Support (Eviti):
-
In Q1 2018, introduced new dual eligibility features, enabling
payers to concurrently manage dual membership patients covered
under Medicare and Medicaid, and drug shortage configuration
features that provide improved management of high cost drugs.
-
Connected Care:
-
In Q1 2018, released DeviceConX5.14 (MDE), the first MDI solution
to adopt the Fast Healthcare Interoperability Resources (FHIR)
standard.
-
In Q1 2018, released VitalsConX2.1, with support for offline mode,
enabling clinicians to continue nurse rounding when connectivity
is lost and to submit data to the EMR once connectivity is
restored.
-
In Q2 2018, completed first CE Mark submission for the DeviceConX
software platform.
“Our 2018 first quarter performance reflects a 17% increase in
consolidated revenue and a substantially improved gross margin over the
prior year period,” said Paul Holt, Chief Financial Officer of
NantHealth. “We were delighted to see continued growth of our SaaS
business, with revenue increasing 9% over the same quarter last year.
Our year over year improvement in operating results was positively
impacted by our revenue growth and the restructuring program,
implemented late last year.”
Business and Financial Highlights
In August 2017, NantHealth sold its provider/patient engagement assets
to Allscripts to focus on core competencies and accelerate the plan to
achieve profitability. As a result, the company has classified the
current and prior period operating results of its provider/patient
engagement business as discontinued operations. All results presented
below represent the company’s continuing operations.
The company adopted a new revenue recognition standard on January 1,
2018. Please note that the financial results presented below include
both amounts “as presented,” which reflect implementation of the new
revenue recognition standard, as well as amounts prior to the impact of
the new revenue recognition standard to allow for comparability against
historical results. Starting in fiscal year 2019, the company will no
longer present its GAAP and Non-GAAP financial results under the
previous revenue recognition standard. For additional information and
reconciliations of our financial results between the new and previous
revenue recognition standard, see the additional tables included in this
press release and in the company’s Form 10-Q to be filed with the
Securities and Exchange Commission.
For the 2018 first quarter, total net revenue as presented was $22.3
million. Total 2018 first quarter net revenue prior to the impact of the
new revenue recognition standard increased 14% to $21.7 million from
$19.1 million in 2017 first quarter. Gross profit as presented was $11.2
million, or 50% of total net revenue. Gross profit prior to the impact
of the new revenue recognition standard was $10.7 million, or 49% of
total net revenue, compared with $7.6 million, or 40% of total net
revenue, for the prior-year first quarter. Selling, general and
administrative (SG&A) expenses as presented were $20.7 million. SG&A
prior to the impact of the new revenue recognition standard was $21.2
million compared with $17.4 million. Research and development (R&D)
expenses as presented was $5.2 million decreased from $8.9 million; the
new revenue recognition standard did not impact R&D expenses.
Net loss from continuing operations, net of tax, as presented was $22.0
million, or $0.20 per share. Net loss from continuing operations, net of
tax, prior to the impact of the new revenue recognition standard
narrowed to $22.8 million, or $0.21 per share, from $28.1 million, or
$0.23 per share for the 2017 first quarter. Loss from discontinued
operations, net of tax, as presented was $193,000, or breakeven on per
share basis, compared with $13.0 million, or $0.11 per share; the new
revenue recognition standard did not impact loss from discontinued
operations. Net loss as presented was $22.2 million, or $0.20 per share.
Net loss prior to the impact of the new revenue recognition standard was
$23.0 million, or $0.21 per share, compared with $41.1 million, or $0.34
per share, for 2017 first quarter.
Financial results for the 2018 first quarter included approximately $3.3
million loss from related party equity method investment including
impairment loss, $2.7 million of stock-based compensation expense, $2.2
million of intangible amortization, and $1.2 million of non-cash
interest expense related to convertible notes, totaling $0.09 per share.
On a non-GAAP basis, adjusted net loss from continuing operations as
presented was $13.5 million, or $0.12 per share, for the 2018 first
quarter. On a non-GAAP basis, adjusted net loss from continuing
operations prior to the impact of the new revenue recognition standard
was $14.3 million, or $0.13 per share, compared with $18.8 million, or
$0.15 per share, for the 2017 first quarter.
Conference Call Information and Forward-Looking Statements
Later today, the company will host a conference call at 1:30 p.m. PT
(4:30 p.m. ET) to review its results of operations for the first quarter
ended March 31, 2018. The conference call will be available to
interested parties by dialing 844-309-3709 from the U.S. or Canada, or
281-962-4864 from international locations, passcode 8963439. The call
will be broadcast via the Internet at www.nanthealth.com.
Listeners are encouraged to visit the website at least 10 minutes prior
to the start of the scheduled presentation to register, download and
install any necessary audio software. A playback of the call will be
archived and accessible on the same website for at least three months.
Discussion during the conference call may include forward-looking
statements regarding topics such as the company’s financial status and
performance, regulatory and operational developments, and other comments
the company may make about its future plans or prospects in response to
questions from participants on the conference call.
Use of Non-GAAP Financial Measures
This news release contains references to Non-GAAP financial measures,
including adjusted net loss and adjusted net loss per share, which are
financial measures that are not prepared in conformity with United
States generally accepted accounting principles (U.S. GAAP). The
Company’s management believes that the presentation of Non-GAAP
financial measures provides useful supplementary information regarding
operational performance, because it enhances an investor’s overall
understanding of the financial results for the Company’s core business.
Additionally, it provides a basis for the comparison of the financial
results for the Company’s core business between current, past and future
periods. Other companies may define these measures in different ways.
Non-GAAP financial measures should be considered only as a supplement
to, and not as a substitute for or as a superior measure to, financial
measures prepared in accordance with U.S. GAAP. Non-GAAP per share
numbers are calculated based on one class of common stock and do not
incorporate the effects, if any, of using the two-class method.
About NantHealth, Inc.
NantHealth, Inc., a member of the NantWorks ecosystem of companies, is a
next-generation, evidence-based, personalized healthcare company
enabling improved patient outcomes and more effective treatment
decisions for critical illnesses. NantHealth's unique systems-based
approach to personalized healthcare applies novel diagnostics tailored
to the specific molecular profiles of patient tissue and integrates this
molecular data in a clinical setting with large-scale, real-time
biometric signal and phenotypic data to track patient outcomes and
deliver precision medicine. For nearly a decade, NantHealth has
developed an adaptive learning system that integrates our unique
molecular profiling solution, software and hardware. Our system
infrastructure collects, indexes, analyzes and interprets billions of
molecular, clinical, operational and financial data points derived from
novel and traditional sources to continuously improve decision-making
and optimize our clinical pathways and decision algorithms over time.
For more information please visit www.nanthealth.com.
About GPS Cancer®
GPS Cancer® is a unique, comprehensive test available through
NantHealth. GPS Cancer integrates tumor/normal DNA and RNA sequencing,
with enhanced expression analysis and bioinformatics of complex biologic
pathway systems, providing oncologists with a comprehensive molecular
profile of a patient’s cancer to inform personalized treatment
strategies. GPS Cancer testing is conducted in CLIA-certified and
CAP-accredited laboratories. For more information, visit www.gpscancer.com.
This news release contains certain statements of a forward-looking
nature relating to future events or future business performance. Forward-looking
statements can be identified by the words “expects,” “anticipates,”
“believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and
similar expressions. Forward-looking statements are based on
management’s current plans, estimates, assumptions and projections, and
speak only as of the date they are made. Risks and uncertainties
include, but are not limited to: our ability to successfully integrate a
complex learning system to address a wide range of healthcare issues;
our ability to successfully amass the requisite data to achieve maximum
network effects; appropriately allocating financial and human resources
across a broad array of product and service offerings; raising
additional capital as necessary to fund our operations; achieving
significant commercial market acceptance for our sequencing and
molecular analysis solutions; establish relationships with, key thought
leaders or payers’ key decision makers in order to establish GPS Cancer
as a standard of care for patients with cancer; our ability to grow the
market for our Systems Infrastructure, and applications; successfully
enhancing our Systems Infrastructure and applications to achieve market
acceptance and keep pace with technological developments; customer
concentration; competition; security breaches; bandwidth limitations;
our ability to continue our relationship with NantOmics; our ability to
obtain regulatory approvals; dependence upon senior management; the need
to comply with and meet applicable laws and regulations; unexpected
adverse events; clinical adoption and market acceptance of GPS Cancer;
and anticipated cost savings. We undertake no obligation to update any
forward-looking statement in light of new information or future events,
except as otherwise required by law. Forward-looking statements
involve inherent risks and uncertainties, most of which are difficult to
predict and are generally beyond our control. Actual results or
outcomes may differ materially from those implied by the forward-looking
statements as a result of the impact of a number of factors, many of
which are discussed in more detail in our reports filed with the
Securities and Exchange Commission.
|
NantHealth, Inc.
|
Condensed Consolidated Balance Sheets
|
(Dollars in thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
March 31,
|
|
December 31,
|
|
|
2018
|
|
2017
|
|
|
(Unaudited)
|
|
|
Assets
|
|
|
|
|
Current assets
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
46,390
|
|
|
$
|
61,660
|
|
Accounts receivable, net
|
|
|
14,701
|
|
|
|
11,491
|
|
Inventories
|
|
|
805
|
|
|
|
839
|
|
Deferred implementation costs
|
|
|
11
|
|
|
|
1,960
|
|
Related party receivables, net
|
|
|
643
|
|
|
|
585
|
|
Prepaid expenses and other current assets
|
|
|
6,995
|
|
|
|
5,358
|
|
Total current assets
|
|
|
69,545
|
|
|
|
81,893
|
|
Property, plant, and equipment, net
|
|
|
23,570
|
|
|
|
18,517
|
|
Deferred implementation costs, net of current
|
|
|
2
|
|
|
|
3,951
|
|
Goodwill
|
|
|
115,930
|
|
|
|
114,625
|
|
Intangible assets, net
|
|
|
71,626
|
|
|
|
69,424
|
|
Investment in related party
|
|
|
145,169
|
|
|
|
156,863
|
|
Related party receivable, net of current
|
|
|
1,706
|
|
|
|
1,727
|
|
Other assets
|
|
|
3,777
|
|
|
|
2,195
|
|
Total assets
|
|
$
|
431,325
|
|
|
$
|
449,195
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity
|
|
|
|
|
Current liabilities
|
|
|
|
|
Accounts payable
|
|
$
|
5,149
|
|
|
$
|
3,164
|
|
Accrued and other current liabilities
|
|
|
12,413
|
|
|
|
18,134
|
|
Deferred revenue
|
|
|
13,080
|
|
|
|
10,057
|
|
Related party payables, net
|
|
|
5,973
|
|
|
|
4,504
|
|
Total current liabilities
|
|
|
36,615
|
|
|
|
35,859
|
|
Deferred revenue, net of current
|
|
|
8,729
|
|
|
|
7,126
|
|
Related party liabilities
|
|
|
13,029
|
|
|
|
11,500
|
|
Related party promissory note
|
|
|
112,666
|
|
|
|
112,666
|
|
Related party convertible note, net
|
|
|
8,049
|
|
|
|
7,947
|
|
Convertible notes, net
|
|
|
75,937
|
|
|
|
74,845
|
|
Other liabilities
|
|
|
5,262
|
|
|
|
5,950
|
|
Total liabilities
|
|
|
260,287
|
|
|
|
255,893
|
|
|
|
|
|
|
Stockholders' equity
|
|
|
|
|
Common stock, $0.0001 par value per share, 750,000,000 shares
authorized; 108,591,946 and 108,383,602 shares issued and
outstanding at March 31, 2018 and December 31, 2017, respectively
(including 3,490 shares of restricted stock)
|
|
|
10
|
|
|
|
10
|
|
Additional paid-in capital
|
|
|
885,200
|
|
|
|
886,669
|
|
Accumulated deficit
|
|
|
(714,138
|
)
|
|
|
(693,233
|
)
|
Accumulated other comprehensive loss
|
|
|
(34
|
)
|
|
|
(144
|
)
|
Total stockholders' equity
|
|
|
171,038
|
|
|
|
193,302
|
|
Total liabilities and stockholders' equity
|
|
$
|
431,325
|
|
|
$
|
449,195
|
|
|
|
|
|
|
|
NantHealth, Inc.
|
Condensed Consolidated Statements of Operations
|
(Dollars in thousands, except per share amounts)
|
(Unaudited)
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
|
|
2018
|
|
2017
|
|
|
|
|
|
Total net revenue
|
|
$
|
22,263
|
|
|
$
|
19,104
|
|
|
|
|
|
|
Total cost of revenue
|
|
|
11,068
|
|
|
|
11,518
|
|
Gross profit
|
|
|
11,195
|
|
|
|
7,586
|
|
|
|
|
|
|
Operating Expenses:
|
|
|
|
|
Selling, general and administrative
|
|
|
20,737
|
|
|
|
17,435
|
|
Research and development
|
|
|
5,151
|
|
|
|
8,926
|
|
Amortization of acquisition-related assets
|
|
|
1,054
|
|
|
|
1,054
|
|
Total operating expenses
|
|
|
26,942
|
|
|
|
27,415
|
|
|
|
|
|
|
Loss from operations
|
|
|
(15,747
|
)
|
|
|
(19,829
|
)
|
Interest expense, net
|
|
|
(4,197
|
)
|
|
|
(3,969
|
)
|
Other income, net
|
|
|
180
|
|
|
|
235
|
|
Loss from related party equity method investment
|
|
|
(3,261
|
)
|
|
|
(4,526
|
)
|
Loss from continuing operations before income taxes
|
|
|
(23,025
|
)
|
|
|
(28,089
|
)
|
(Benefit from) provision for income taxes
|
|
|
(1,050
|
)
|
|
|
37
|
|
Net loss from continuing operations
|
|
|
(21,975
|
)
|
|
|
(28,126
|
)
|
Loss from discontinued operations, net of tax
|
|
|
(193
|
)
|
|
|
(12,989
|
)
|
Net loss
|
|
$
|
(22,168
|
)
|
|
$
|
(41,115
|
)
|
|
|
|
|
|
Net income (loss) per share:
|
|
|
|
|
Continuing operations
|
|
|
|
|
Basic and diluted - common stock
|
|
$
|
(0.20
|
)
|
|
$
|
(0.23
|
)
|
|
|
|
|
|
Discontinued operations
|
|
|
|
|
Basic and diluted - common stock
|
|
$
|
—
|
|
|
$
|
(0.11
|
)
|
|
|
|
|
|
Total net income (loss) per share
|
|
|
|
|
Basic and diluted - common stock
|
|
$
|
(0.20
|
)
|
|
$
|
(0.34
|
)
|
|
|
|
|
|
Weighted average shares outstanding:
|
|
|
|
|
Basic and diluted - common stock
|
|
|
108,579,271
|
|
|
|
121,618,039
|
|
|
|
|
|
|
|
|
|
|
|
NantHealth, Inc.
|
Condensed Consolidated Statements of Operations
|
Reconciliation of results under ASC 606 and ASC 605
|
(Dollars in thousands, except per share amounts)
|
(Unaudited)
|
|
|
|
|
|
Three Months Ended March 31,
|
|
|
|
|
Adjustments due to
|
|
Without new
|
|
|
As Reported
|
|
ASC 606(1)
|
|
Revenue Standard
|
|
|
2018
|
|
|
|
2018
|
|
|
|
|
|
|
|
Total net revenue
|
|
|
22,263
|
|
|
|
(533
|
)
|
|
|
21,730
|
|
|
|
|
|
|
|
|
Total cost of revenue
|
|
|
11,068
|
|
|
|
(37
|
)
|
|
|
11,031
|
|
Gross profit
|
|
|
11,195
|
|
|
|
(496
|
)
|
|
|
10,699
|
|
|
|
|
|
|
|
|
Operating Expenses:
|
|
|
|
|
|
|
Selling, general and administrative
|
|
|
20,737
|
|
|
|
470
|
|
|
|
21,207
|
|
Research and development
|
|
|
5,151
|
|
|
|
—
|
|
|
|
5,151
|
|
Amortization of acquisition-related assets
|
|
|
1,054
|
|
|
|
—
|
|
|
|
1,054
|
|
Total operating expenses
|
|
|
26,942
|
|
|
|
470
|
|
|
|
27,412
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
|
(15,747
|
)
|
|
|
(966
|
)
|
|
|
(16,713
|
)
|
Interest expense, net
|
|
|
(4,197
|
)
|
|
|
—
|
|
|
|
(4,197
|
)
|
Other income, net
|
|
|
180
|
|
|
|
—
|
|
|
|
180
|
|
Loss from related party equity method investment
|
|
|
(3,261
|
)
|
|
|
—
|
|
|
|
(3,261
|
)
|
Loss from continuing operations before income taxes
|
|
|
(23,025
|
)
|
|
|
(966
|
)
|
|
|
(23,991
|
)
|
(Benefit from) provision for income taxes
|
|
|
(1,050
|
)
|
|
|
(119
|
)
|
|
|
(1,169
|
)
|
Net loss from continuing operations
|
|
|
(21,975
|
)
|
|
|
(847
|
)
|
|
|
(22,822
|
)
|
Loss from discontinued operations, net of tax
|
|
|
(193
|
)
|
|
|
—
|
|
|
|
(193
|
)
|
Net loss
|
|
$
|
(22,168
|
)
|
|
$
|
(847
|
)
|
|
$
|
(23,015
|
)
|
|
|
|
|
|
|
|
Net income (loss) per share:
|
|
|
|
|
|
|
Basic and diluted - common stock
|
|
$
|
(0.20
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
(0.21
|
)
|
|
|
|
|
|
|
|
Weighted average shares outstanding:
|
|
|
|
|
|
|
Basic and diluted - common stock
|
|
|
108,579,271
|
|
|
|
—
|
|
|
|
108,579,271
|
|
|
|
|
|
|
|
|
1 Financial Accounting Standards Board, ASC 606, Revenue
from Contracts with Customers
|
|
|
NantHealth, Inc.
|
Supplemental Revenue Schedule
|
(Dollars in thousands)
|
(Unaudited)
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
|
|
2018
|
|
2017
|
|
|
|
|
|
Revenue:
|
|
|
|
|
Software-as-a-service related
|
|
$
|
16,166
|
|
$
|
14,797
|
Software and hardware related
|
|
|
1,455
|
|
|
598
|
Maintenance
|
|
|
2,446
|
|
|
2,019
|
Total software-related revenue
|
|
|
20,067
|
|
|
17,414
|
Sequencing and molecular analysis
|
|
|
840
|
|
|
510
|
Home health care services
|
|
|
1,356
|
|
|
1,180
|
Total net revenue
|
|
$
|
22,263
|
|
$
|
19,104
|
|
|
|
|
|
Cost of Revenue:
|
|
|
|
|
Software-as-a-service related
|
|
$
|
6,602
|
|
$
|
6,233
|
Software and hardware related
|
|
|
885
|
|
|
1,004
|
Maintenance
|
|
|
215
|
|
|
161
|
Amortization of developed technologies
|
|
|
1,173
|
|
|
1,743
|
Total software-related cost of revenue
|
|
|
8,875
|
|
|
9,141
|
Sequencing and molecular analysis
|
|
|
1,431
|
|
|
1,593
|
Home health care services
|
|
|
762
|
|
|
784
|
Total cost of revenue
|
|
$
|
11,068
|
|
$
|
11,518
|
|
|
|
|
|
|
NantHealth, Inc.
|
Non-GAAP Net Loss and Non-GAAP Net Loss Per Share
|
(Dollars in thousands, except per share amounts)
|
(Unaudited)
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
|
|
2018
|
|
2017
|
|
|
|
|
|
Net loss from continuing operations
|
|
$
|
(21,975
|
)
|
|
$
|
(28,126
|
)
|
Adjustments to GAAP net loss:
|
|
|
|
|
Loss from related party equity method investment including
impairment loss
|
|
|
3,261
|
|
|
|
4,526
|
|
Stock-based compensation expense from continuing operations
|
|
|
2,718
|
|
|
|
250
|
|
Corporate restructuring from continuing operations
|
|
|
—
|
|
|
|
220
|
|
Acquisition related compensation expense
|
|
|
—
|
|
|
|
—
|
|
Acquisition related sales incentive
|
|
|
145
|
|
|
|
662
|
|
Change in fair value of derivatives liability
|
|
|
(1
|
)
|
|
|
(215
|
)
|
Non-cash interest expense related to convertible notes
|
|
|
1,194
|
|
|
|
1,051
|
|
Intangible amortization from continuing operations
|
|
|
2,227
|
|
|
|
2,797
|
|
Securities litigation costs
|
|
|
73
|
|
|
|
—
|
|
Tax benefit resulting from certain non-operating activity
|
|
|
(1,123
|
)
|
|
|
—
|
|
Total adjustments to GAAP net loss from continuing operations
|
|
|
8,494
|
|
|
|
9,291
|
|
Net loss - Non-GAAP from continuing operations
|
|
$
|
(13,481
|
)
|
|
$
|
(18,835
|
)
|
|
|
|
|
|
Weighted average shares outstanding
|
|
|
108,579,271
|
|
|
|
121,618,039
|
|
|
|
|
|
|
Net loss per share from continuing operations - Non-GAAP
|
|
$
|
(0.12
|
)
|
|
$
|
(0.15
|
)
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Net Loss per Common Share to Net Loss per
Common Share - Non-GAAP (Unaudited):
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
|
|
2018
|
|
2017
|
Net loss per common share from continuing operations
|
|
$
|
(0.20
|
)
|
|
$
|
(0.23
|
)
|
Adjustments to GAAP net loss per common share from continuing
operations:
|
|
|
|
|
Loss from related party equity method investment including
impairment loss
|
|
|
0.03
|
|
|
|
0.04
|
|
Stock-based compensation expense from continuing operations
|
|
|
0.03
|
|
|
|
—
|
|
Corporate restructuring from continuing operations
|
|
|
—
|
|
|
|
—
|
|
Acquisition related compensation expense
|
|
|
—
|
|
|
|
—
|
|
Acquisition related sales incentive
|
|
|
—
|
|
|
|
0.01
|
|
Change in fair value of derivatives liability
|
|
|
—
|
|
|
|
—
|
|
Non-cash interest expense related to convertible notes
|
|
|
0.01
|
|
|
|
0.01
|
|
Intangible amortization from continuing operations
|
|
|
0.02
|
|
|
|
0.02
|
|
Securities litigation costs
|
|
|
—
|
|
|
|
—
|
|
Tax benefit resulting from certain non-operating activity
|
|
|
(0.01
|
)
|
|
|
—
|
|
Total adjustments to GAAP net loss per common share from continuing
operations
|
|
|
0.08
|
|
|
|
0.08
|
|
Net loss per common share from continuing operations - Non-GAAP
|
|
$
|
(0.12
|
)
|
|
$
|
(0.15
|
)
|
|
|
|
|
|
|
|
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20180509006370/en/
NantHealth, Inc.
Investor Contact:
Robert Jaffe
424.288.4098
rjaffe@rjaffeco.com
Source: NantHealth, Inc.