- Digital health company Sharecare Inc (NASDAQ:SHCR) reported Q4 FY22 sales of $123.30 million, up 4% Y/Y, beating the consensus of $120.25 million.
- Adjusted net loss per share was $(0.02) compared to $(0.01) a year ago.
- Jeff Arnold, chairman & CEO of Sharecare, said, “Last year, we announced plans to conduct a strategic review…We have expanded the review to include potential business combinations to complement our thriving Enterprise channel…”
- “Further, the strategic review has also affirmed the value of our Provider channel, garnering attractive valuations on a standalone basis, and we continue to actively evaluate ways to unlock that value while increasing profitability through global outsourcing and growing and retaining clients,” Arnold added.
- Adjusted EBITDA of $4.6 million declined from $5.4 million a year ago, primarily attributable to the sunsetting of the COVID-19 health security program.
- Guidance: For Q1 FY23, Sharecare expects revenues of $111-$113 million versus the consensus of $118.80 million, with adjusted EBITDA of $1-$2 million.
- For FY23, the company expects revenues of $450-$460 million, down from the consensus of $518.49 million, with adjusted EBITDA of $25-$30 million.
- Price Action: SHCR shares are down 24.43% at $1.61 on the last check Wednesday.
Despite Efforts, Vulnerable Patients Still Face Barriers to Essential Medicines, Says New Report
Despite significant initiatives by generic drug companies to broaden access to vital medicines, many vulnerable patients remain underserved, according to findings from a new study from the Access to Medicine Foundation.
