LIVERMORE, Calif., Jan. 23, 2020 (GLOBE NEWSWIRE) -- Performant Financial Corporation (PFMT),(“the Company”), a provider of technology-enabled recovery and related analytics services, announced today that it received a letter dated January 22, 2020 from the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it has regained compliance with the minimum bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules and that Nasdaq considers the matter closed.
In response to receiving the notification, Lisa Im, CEO of Performant said, “We want to reiterate our thanks to our shareholders for their continued support through our transformation over the past two years into a more diversified business with strong healthcare growth. We continue to execute on our goals and anticipate reporting positive EBITDA in Q4 of 2019, which we believe will lead to revenue growth and positive EBITDA in 2020.”
About Performant Financial Corporation
Performant Financial Corporation is a leading provider of technology-enabled recovery and related analytics services. The Company's services help identify and recover delinquent or defaulted assets and improper payments for various government, healthcare and financial services markets in the United States. The Company was founded in 1976 and is headquartered in Livermore, California. To learn more about Performant Financial, please visithttp://performantcorp.com/
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our outlook for revenues, and EBITDA in 2019 and 2020. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, that the Company may not have sufficient cash flows from operations or the availability of funds under its credit agreement to fund ongoing operations and other liquidity needs, that the Company’s indebtedness could adversely affect its business and financial condition and could reduce the funds available for other purposes and the failure to comply with covenants contained in its credit agreement could result in an event of default that could adversely affect its results of operations, that the Company faces a long period to implement a new contract which may result in the incurrence of expenses before the receipt of revenues from new client relationships, the high level of revenue concentration among the Company's largest customers and any termination in the Company’s relationship with any of our significant clients would result in a material decline in our revenues, that many of the Company's customer contracts are subject to periodic renewal, are not exclusive, do not provide for committed business volumes and may be changed or terminated unilaterally and on short notice that the Company may not be able to manage its potential growth effectively, that the Company faces significant competition in all of its markets, that continuing limitations on the scope of our audit activity under our RAC contracts have significantly reduced our revenue opportunities with this client, that the U.S. federal government accounts for a significant portion of the Company's revenues, that future legislative and regulatory changes may have significant effects on the Company's business, that failure of the Company's or third parties' operating systems and technology infrastructure could disrupt the operation of the Company's business and the threat of breach of the Company's security measures or failure or unauthorized access to confidential data that the Company possesses. More information on potential factors that could affect the Company's financial condition and operating results is included from time to time in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's annual report on Form 10-K for the year ended December 31, 2018 and subsequently filed reports on Forms 10-Q and 8-K. The forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking statements to conform these statements to actual results or revised expectations.
Contact Information:
Richard Zubek
Investor Relations
925-960-4988
investors@performantcorp.com
利弗莫爾,加利福尼亞州,2020年1月23日(環球新聞社)--績效金融公司(PFMT),一家提供技術支持的恢復和相關分析服務的供應商,今天宣佈收到納斯達克股票市場有限責任公司(納斯達克)的一封日期為2020年1月22日的信,通知該公司它已恢復遵守納斯達克上市規則第5450(A)(1)條規定的最低投標價格要求,納斯達克認為此事已經結束。
在收到通知後,執行者首席執行官莉薩·林姆(Lisa IM)説:“我們要再次感謝我們的股東們在過去兩年裏通過轉變為一個更加多元化、醫療保健增長強勁的業務而提供的持續支持。我們繼續實現我們的目標,並預計在2019年第四季度報告正的EBITDA,我們認為這將導致收入增長,並在2020年實現EBITDA的正增長。“
關於績效金融公司
Performant金融公司是一家領先的技術支持恢復和相關分析服務提供商.該公司的服務有助於查明和收回拖欠或拖欠的資產,以及對美國各種政府、醫療和金融服務市場的不當付款。該公司成立於1976年,總部設在加利福尼亞州利弗莫爾。要了解更多關於績效財務的信息,請訪問http://performantcorp.com/
前瞻性陳述
本新聞稿載有1995年“私人證券訴訟改革法”所指的某些前瞻性聲明,包括關於我們收入前景的聲明,以及2019年和2020年的EBITDA。這些前瞻性陳述是基於當前的預期、估計、假設和預測,這些預期、估計、假設和預測可能會發生變化,實際結果可能與前瞻性聲明大不相同。可能導致實際結果大相徑庭的因素包括,但不限於:公司可能沒有足夠的業務現金流量或根據其信貸協議沒有足夠的資金為進行中的業務和其他流動性需求提供資金;公司的負債可能對其業務和財務狀況產生不利影響,並可能減少可用於其他目的的資金,不遵守其信貸協議中所載的契約可能導致違約,可能對其經營結果產生不利影響,該公司面臨長期執行一項新合同的風險,這可能導致在收到新客户關係收入之前發生開支,公司最大客户的收入高度集中,公司與任何重要客户的關係終止,將導致我們的收入大幅度下降,公司的許多客户合同定期續簽,不是排他性的,不提供承諾的業務量,可能單方面改變或終止,並在短時間內通知公司可能無法有效管理其潛在的增長,公司在其所有市場上都面臨重大競爭, 我們根據RAC合同對審計活動範圍的持續限制大大減少了我們與這一客户的收入機會,美國聯邦政府佔公司收入的很大一部分,未來的立法和監管變化可能對公司的業務產生重大影響,公司或第三方操作系統和技術基礎設施的失敗可能會擾亂公司的業務運作,並可能破壞公司的安全措施,或無法或未經授權地訪問公司擁有的機密數據。公司2018年12月31日終了年度年度報告中的“風險因素”和“管理層對財務狀況和經營結果的討論和分析”一節中不時列入關於可能影響公司財務狀況和經營結果的潛在因素的更多信息,並隨後就表10-Q和8-K提交了報告。前瞻性聲明是在本新聞稿發佈之日作出的,本公司不承諾更新任何前瞻性報表,以使這些報表與實際結果或修訂後的預期相一致。
聯繫方式:
理查德·祖貝克
投資者關係
925-960-4988
投資者@playtcorp.com