Q4 2021 Streamline Health Solutions Inc Earnings Call
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Greetings and welcome to the streamline health solutions fourth quarter 2021 earnings conference call. At this time, all participants are in a listen only mode.
A question and answer session will follow the formal presentation. If anyone should require operator assistance. During the conference. Please press star zero on your telephone keypad. As a reminder, this conference is being recorded I would now like to turn the conference over to your host Jacob Goldberger of director of Investor Relations F. P&A.
Please proceed.
Thank you for joining us for the corporate update and financial results review of streamline health solutions for the fourth quarter and fiscal year 2021, which ended January 31 2022.
As the conference call Operator indicated my name is Jacob Goldberger, joining me on the call today are Tee Green, President and Chief Executive Officer, and Chairman of the board and still President and CEO will evaluate or Javan shake President and CEO of athlete and Tom Gibson, Our Chief Financial Officer at.
At the conclusion of today's prepared remarks, we will open the call for your question and answer session. If anyone participating on today's call does not have a full text copy of our press release announcing these results you can retrieve it from the Companys website at Www Dot streamline health net or numerous financial websites.
Before we begin with prepared remarks, we want to be sure. We are clear for everyone on the record how certain information, which may be provided today as with all of our earnings calls should be viewed we therefore submit for the record. The following statement statements made on this conference call that are not historical facts are considered to be forward looking statements within the meaning of the private Securities Litigation Reform Act 95. These are subject to risks uncertainties.
These and other factors that could cause actual results to differ materially from those discussed please refer to the company's press releases and filings made with the U S Securities and Exchange Commission, including our most recent Form 10-K annual report, which has been filed with the SEC for more information about these risks uncertainties and assumptions and other factors as always we are presenting management's current analysis of these items as.
Today participants on this call should take into account. These risks when evaluating the topics. We will discuss please note streamline health is not undertaking any commitment or obligation to publicly revise any such forward looking statements made today on today's call. We will discuss non-GAAP financial measures such as adjusted EBITDA unaudited figures related to our acquisition of athlete management uses these measures to help provide better insight.
Our financial performance, however, certain items of income and expense are not included in these measures. So these calculations may differ from those which another entity may utilize in calculating their own non-GAAP measures Dolby compare these amounts on consistent terms. Please refer to our website at www Dot streamline health Dot net and our earnings release for a reconciliation of such non-GAAP measures to the most comparable GAAP measures.
I would now like to turn the call over to Tee Green, President and Chief Executive Officer go ahead.
Thank you Jacob.
And thank you all for joining us this morning.
As a reminder, and as we have previously announced on August 16, 2021, we acquired I believe.
And going forward their financial performance will be included in our GAAP results from that date.
With that I'll get started.
Beginning with the financial overview of fiscal year 2021.
We ended the year with roughly $6 $1 million of new SaaS bookings and $13 $9 million of total new bookings we.
We believe operating conditions with an acute care hospital systems are improving as COVID-19 impact lessens.
As a result, we expect to see an accelerated pace of bookings for both Abilene and evaluate our solutions.
Going forward, we expect our bookings performance to be an average range of $3 million to $5 million per quarter.
Fiscal 2020.
<unk> 22, we have already achieved this goal for our first fiscal quarter.
On an unaudited pro forma basis, assuming we had owned I believe for the entirety of this and last year total revenue for the fiscal year 2021 was approximately $22 6 million.
A 15% increase compared to approximately $19 $7 million during fiscal 2020.
Pro forma unaudited SaaS revenue totaled approximately $11 $3 million in fiscal 2021.
And 82% increase compared to approximately $6 $2 million during fiscal 2020.
We are pleased to see the significant expansion of our SaaS revenue, we continue to focus our resources on the growth of our SaaS business.
Moving now to our GAAP consolidated financial results for the 12 months ended January 31.
Total revenue for fiscal year, 2021 was $17 4 million.
53% increase from fiscal 2020.
Notably our SaaS revenue grew 121% from 2020 2021 .
Recurring revenue accounted for 71% of total revenue in fiscal 2021 compared to 73% for fiscal 2020.
We have successfully grown our recurring revenues despite the difficult sales environment. Our industry has experienced for the past two years as a result of the Covid pandemic.
Adjusted EBITDA for fiscal 2021 was a loss of $2 million compared to an adjusted loss of $1 9 million in fiscal 2020.
As of January 31, 2022, we had $9.9 million of cash on hand, with $10 million of debt related to a term loan, which we entered into with bridge bank.
Subsequent to the acquisition of Abilene as a reminder.
Closed ablate acquisition, we utilized approximately $12 $5 million of our cash and issued approximately $6 $5 million of restricted stock to the sellers.
In addition to the closing consideration when contracted an earn out over the next two sequential 12 month anniversaries of the closing of that I believe that is tied to Abilene performance and includes a combination of cash and restricted common stock.
Our cap table remains clean with only one class of common stock Tom Gibson, our CFO will provide additional details about our financials during his prepared remarks.
As a company we continue to follow a simple formula for successful growth.
Innovation plus service equals growth.
To back up our innovative industry, leading solutions like evaluated and Rabbi D with World class client success team to create a community of clients and enhances our potential for long term revenue growth.
Today, our flagship solutions evaluated and Rabbi D are leading an industry movement to help our hospital clients capture a 100% of the revenue. They have earned for the care. They have provided through revenue integrity validation before bill goes out the door.
Our focus on shifting revenue integrity practices to the front end of the revenue cycle yields significant return on investment for our clients and is driving our rapid SaaS revenue growth.
Over the course of the past six months, we have made significant investments to upgrade evaluated direct salesforce and most recently, we brought Amy Cibro on board has evaluated <unk>, new chief growth Officer.
Amy is an industry veteran with four decades of experience improving the financial well being of health care organizations, including 28 years within threats.
Joining us on today's call are Ben Stilwell, President and CEO of evaluating solution and <unk> <unk>, President and CEO of Abilene solutions, we will be giving updates on their respective businesses.
Then as a motivated later poised to take evaluated through its growth phase and has been with streamline since 2013 and during his tenure has touched every part of the evaluate your business.
Most recently been was the leader of evaluated client success function.
Directly responsible for creating an industry, leading customer service experience listening numerous record referenced will client.
Dan's relationship with our clients makes him the perfect fit for the leadership position that evaluated.
You were previously introduced <unk>, Shaikh President and CEO of Abilene solutions provide an Avalon have made tremendous progress in adopting our winning processes.
I'll now turn it over to Ben to introduce himself and provide an update regarding evaluated.
Dan.
Thank you Tim and good morning.
I've had the fortune of working with streamline for the last nine years, gaining exposure to functions across the company beginning in finance before moving into <unk> and sales and business strategy.
Over the last two years I've led our client success team focused on aligning our clients' journey and enabling their financial and operational success.
Our clients and prospects are medium to large sized hospital systems <unk>.
I experienced persistent challenges and efficiently capturing and accurately reflecting the value of care they provide.
This can be attributed to the complexities and coding a lack of integration and the systems, which process and report the coating and hardships with staffing.
While many of the prospective clients, we talk to are aware of their hurdles and the potential solutions in the market.
We are also very familiar.
With the disruption that comes with implementing new solutions and changing existing processes.
Evaluate or helps with many of those problems and does so before bills are sent out the door.
Our solution is built on decades of experience in coating auditing and has been constantly updated for both regulatory changes and hyper specific scenarios mine from our data that has been incorporated into our proprietary rules based engine.
Yeah.
And intuitive workflow combined with centralized dashboard reporting empower end users and leadership alike to make agile improvements for efficiency and accuracy.
Being cloud based our solution integrates directly and easily into coating systems. It can be implemented by our clients in under 60 days, enabling remote teams with limited it resources to achieve their return on investment quickly.
One of our newly implemented clients went live in under 60 days and achieved a positive ROI from evaluated in its initial month. Another client was able to add on budget resources using evaluated reporting which identified substantial mis revenue.
Amid a recent staffing shortage another clients turn to us for a process improvement project and we're able to help supplement their staffing.
Our clients our partners and they are becoming raving fans. Thanks to the success they are experiencing with the value there.
I believe these client stories and references supplemented with data analysis, showing positive ROI to potential prospects will allow us to expand our client community.
As Tim mentioned in his introduction Amy Saverio has joined our company to lead the growth area of evaluated solutions. Amy was previously responsible for SaaS revenue in excess of $220 million as well as managing relationships with over 900 health systems, including 37 of the 40 largest healthcare providers in the U S.
Amy's resume speaks for itself and we're looking forward to benefiting from her extensive relationships with hundreds of hospital systems and years of experience operating in our industry.
<unk> focus is on activating potential clients in the early stages of our pipeline to signed contracts with us I believe her experience in the market combined with a more normalized environment will accelerate bookings.
Additionally, many of the contracts in our pipeline today are on average larger than our historical $300000 annual contract value.
As for our recent performance during the fourth quarter, we signed another North Carolina Hospital system, our third.
Additionally, we signed a seven facility epic EHR health system in Pennsylvania in the first quarter of fiscal 2022.
During the fourth quarter, our inside sales team successfully added $11 $3 million of total contract value to the pipeline, while our reseller partner channel at an additional 17 new prospects.
Before I hand, the call back over I'd like to thank all of our associates are evaluating solutions from software development to client success services sales and finance, but the dedication they have to making sure. Our clients are successful and to our clients who have built a community with one another around bettering their teams improving financial performance and providing us the feedback that is making it.
<unk> rate or better.
I'll now turn the call over to President and CEO of athletes Javad shake to provide a business update for ablative Siobhan.
Thank you Ben and good morning to all.
It's a bit of a background and for those of you who are new to our story I'll begin first with a brief overview of Abilene.
I believe <unk> mission is to put an end to lost revenue for our health care providers.
Those of you follow the revenue cycle management space closely most health care organizations are losing millions of dollars every year as a result of a clerical errors in the increasing complexity in coding and billing.
And I believe we've built a suite of revenue cycle solutions borne out of our consulting practice that just like you've alligator help our health care providers capture 100% of the <unk>.
Revenue they've earned.
Also just like evaluate are absolutely do we go to market through a combination of direct selling and through channel partnerships with industry influencing EHR EHR leaders.
Mike evaluate or our solutions, our EHR agnostic, we enjoy a long standing relationship with Cerner, which has helped drive our growth and help center continued to envelope their clients.
Our flagship <unk> eliminates revenue leakage by ensuring all clinical activities are built.
In addition to <unk> we.
Also sell our powerful compare tool a comprehensive audit and intra interoperability software that assist our hospital clients with the integration and implementation of <unk> and other non outlet products within the revenue cycle management space.
Additionally, we are in the early stages of rolling out <unk> cloud based solutions for different portions of our health care providers revenue cycle management processes that we developed based on client demand.
We'll keep you apprised of our product development progress and future updates.
Today, our solutions and services are utilizing more than 90 facilities and in every case, we have delivered a significant positive ROI for our clients our largest existing clients increased their usage of our solutions by eight new facilities in the first quarter of fiscal 2022.
Abilene is at an exciting point in its history as we continue our mission of enabling hospitals to better capture and accurately billed charges through the revenue cycle processes. We made the strategic decision to expand our leadership team to include a chief Technology Officer, and senior Vice President of services.
By expanding our leadership team, we are better positioned to provide world class service to our existing clients, while executing on our product roadmap.
As a reminder, avalere focus for 2022 is to improve the innovation and service components of our business to set the stage for rapid future growth.
With that said growth opportunity in 2022 is to expand our footprint within existing contracted clients.
Further we have an exhaustive list of opportunities through our large channel partners Cerner. We have successfully worked with cerner to build our existing client base and pipeline.
Within our sales process, we plan to leverage <unk> proven ROI and satisfied client relationships to drive bookings and revenue in fiscal 2022.
Just like evaluated we see opportunities opening up as the impact from Covid retreats within both our direct and partner channels.
I'll now turn the call over to our CFO , Tom Gibson to review our financial results in more detail Tom.
Thank you Giovanni.
Total revenues for the fourth quarter of fiscal 2021 were $6 million, a 103% increase over the comparable period of last year too.
$2 5 million of the increase was attributable to the acquisition of Abilene on August 16 2021.
SaaS revenue increased $1 7 million or approximately 155% compared to the same quarter a year ago.
Total physical 2021 revenue was $17 4 million or 53% increase over fiscal 2020.
$4 $5 million of the increase as a result of the acquisition of Abilene.
SaaS revenue for physical 2021 increased $4 4 million or approximately 121% compared to physical 2020.
Fourth quarter 2021, operating expenses totaled $8 2 million compared to $4 3 million for the prior year period.
$3 million of the increase was related to the acquisition of Abilene $146000 of the increase is related to non routine costs, primarily attributable to the acquisition.
Fiscal 2021 operating expenses were $28 1 million compared to $17 $3 million in fiscal 2000 $26 million of the full year operating cost increase was the result of the Abilene acquisition.
The remaining cost increases over fiscal 2020 can be explained by investments in the sales and marketing teams and innovation costs for the evaluated solutions.
And $2 9 million.
Related to non routine costs.
Fairly attributable to the acquisition.
Loss from continuing operations for the three months ended January 31, 2022 was $4000 compared to loss from continuing operations of $1 6 million for the three months ended January 31 2021.
Loss from continuing operations for the three months ended January 31, 2022 included $146000 of non routine cost in other income.
Two 3 million primarily related to the acquisition of Abilene.
The income of $2 3 million was a direct result of a valuation adjustment on the acquisition liabilities that were set up on the I believe the opening balance sheet.
Loss from continuing operations for fiscal 2021.
$6 $9 million compared to $4 $8 million in fiscal 2020.
Loss from continuing operations for fiscal 2021 included $2 $9 million of non routine costs and other income of one $9 million.
H are primarily related to the acquisition of Abilene.
The company also reported $2 $3 million of other income as a result of the of the forgiveness of the PPP loan for the full fiscal year ended January 31 2022.
For fiscal year 2020, the company recorded an income tax benefit of $1 3 million to reduce its loss from continuing operations.
Adjusted EBITDA for the fourth quarter of fiscal 2021 was a loss of $299000 compared.
Compared to an adjusted EBITDA loss of $122000 in the same quarter of fiscal 2020 adjust.
Adjusted EBITDA for fiscal 2021 was a loss of $2 million.
<unk> to an adjusted EBITDA loss of $1 9 million in fiscal 2020.
Moving to the balance sheet as of January 31, 2022, we had $9 $9 million of cash on hand, compared to $4 million at the end of fiscal 2000 20-F T indicated in his remarks the company completed the acquisition of <unk>.
Utilizing approximately $12 $5 million of cash and $6 $5 million of restricted stock at closing.
Under the acquisition agreement the company will provide additional consideration on each of the next to 12 month anniversaries of the closing date.
These will be paid to the sellers and cash and stock and are valued on the balance sheet at approximately eight $8 million.
These liabilities are referred to as acquisition earn out liabilities.
Our estimate of the present value of the future amounts that will be paid in.
Both cash and restricted common stock upon the anniversary dates of the acquisition.
Subsequent to the closing of the Abilene acquisition, we entered into a five year $10 million term loan with bridge bank.
There is no repayment of the term loan required in the first year following the close.
$500000 is required in the second year, following the close which equates to a 41667 dollar monthly payment bigger.
Beginning in September 2022.
The company maintains its position that the uncertainty related to the effects of the novel Corona virus on the health care market prevents us from providing detailed guidance.
We're targeting an average go forward SaaS booking space of $3 million to $5 million of TCE per quarter for 2022.
The company is well positioned to achieve its target bookings in 2022.
Streamline remains focused on continued growth of SaaS revenue with <unk>.
Growth of our SaaS revenue tempered on a sequential basis this quarter as a result of an outside payment recognized in Q3 2021.
Going forward, we expect SaaS revenue to remain at its current levels in the fiscal first quarter of 2022 before resuming the strong sequential growth that the company experienced through all of fiscal 2021.
The company continues to evaluate its consolidated forecast with Abilene as noticed on our previous update we are optimistic that the combined entity will reach cash generation by Q3 2023.
That concludes my remarks, I will now turn the call back to sea.
Green for his closing remarks.
Thank you Tom as.
As we close out fiscal 2021, I want to recognize the tremendous change that has occurred in our organization over the past 12 months from.
From our transformational acquisition of Abilene, two new leadership and clients. We've added we have taken major steps forward to drive more diversified recurring revenue streams and better position our company for long term growth.
Proud and grateful for the hard work that our teams exhibited through tenuous macro conditions in large scale evolutions of our business before.
Before we begin our Q&A session I'd like to once again, thank the entire streamline team for all their hard work and dedication. During these uncertain times their contributions are central for us to support our health care, providing clients and ensure they have the necessary tools to free up time and resources to provide.
Quality care for the communities they serve.
You all for your support of streamline health and for your support of our vision.
Now I'd like to open the call up to your questions operator.
Sure.
At this time, we'll be conducting a question and answer session. If you would like to ask a question. Please press star one on your telephone keypad.
Confirmation tone will indicate your line is in the question queue. You May press star two if he would like to remove your question from the queue for.
Participants using speaker equipment, it may be necessary to pick up your handset before pressing the star key one.
One moment, please Holly Paul for your question.
Our first question is from Matt Hewitt with Craig Hallum Capital Group. Please proceed with your question.
Good morning, and thank you for taking the questions. Maybe the first one is if you could provide an update on what's you're hearing from customers and potential customers.
Regarding the sales process I know that the last couple of years has been incredibly challenging.
Hospitals or in some cases reluctant.
You bring in new software or even applications or services because of the pandemic just feeling that their employees are already dealing with too much but as we kind of exit there appear to be exiting.
Yeah.
Stricter confines are you starting to see things open up a little bit.
Hey, Matt Hey, Thanks, Thanks for the question and thanks for joining us this morning.
The quick answer is yes.
You're seeing it in our in our regional Vice presidents being able to travel again and go on site and have dinners and do presentations, what so you know.
That's a that's an early indicators that.
Things are beginning to fall and then the other one that I'd point to as is.
R R.
Trade shows like.
It's H F <unk>.
We did a region five show and created just seven plus opportunities just for evaluated just at that show I mean people are.
People are re engaging I guess is the right word and that's that's a welcome for sure.
That's great and then since then is on the call. This morning, I actually have a couple of questions for you.
I'm curious if you've been with the firm for a while but obviously in your new role.
Have you implemented any changes and with Amy coming onboard what have you been able to learn something.
She joined obviously in the past month.
Okay.
Got it thanks for the question so.
Having been in the client success organization for the last two years and seeing.
Some good progress just focusing and putting the client more at the center of things that's kind of the mentality that I'm trying to bring to our management team. So whether it's getting the development team more in front of the client stories and I kind of mentioned.
Getting the sales team more familiar with how our successful clients are able to work I think that's really started to make a difference and people are more aware of the use cases, which helps define our road maps and how we approach prospects.
So I think that's the major change that will kind of see as in our purpose statement and things like that it's much more partner and client focused.
And then as far as Amy I really enjoy working with her so far.
He has a good balance of both the art and the science of selling so on the science side. She is put in place new reporting and dashboard. She has quantitative expectations around trade shows.
Our prospects fit tool to make sure we're approaching the health systems that sort of thing, but like I said the number of connections actually has in the industry is very helpful. She has already reached out to a number of CFO is just to talk about our market applicability in how we're approaching potential prospects and then obviously you're trying to bring the ones that.
We do make a good fit for us into that into the fold more more significantly. So she is very helpful. On the sales front, but just being on the on the leadership team that we have as well as we talk about where the product is going to go over the next couple of years and defining that vision her industry expertise as you know.
Very very helpful.
That's great and then maybe one more from me and I'll hop back in the queue, but in the presentation. I think you mentioned that that 17 new.
Customers have been added to the pipeline from your reseller channel, maybe just an update on on which partners youre starting to see some traction with and how quickly those could translate from pipeline opportunities to potential signed contracts. Thank you.
Sure Yeah. So we have both what we call value added resellers, which there is some level of integration with the technology itself.
And they have pretty good footprints and we see a lot of opportunity. There. So right now we're going through the motions of talking to their to their sales teams to their integration teams.
Some of which we already have.
Integration at a client or two but trying to expand upon that relationship I think that one is probably a little bit.
It's probably a little bit easier to do because we have a proven use case and I think we will see that towards the I still think it's.
Probably Q3 or Q4 that we'll see a lot of increase there and then we have sort of traditional resellers, who are our people who are going out in the market. They have relationships and they have maybe a consulting relationship for something like that already in place and its and its been advising based on the needs that they currently have that evaluated what would be the appropriate product.
And so it's a different profile and so theirs.
A little bit longer of a pipeline or a tail I should say than than the ones that are value added, but both we're trying to hit both of them because we see them as.
Really a multiplier of growth as opposed to individual relationships that we've set up with our direct sales team.
That's great. Thank you very much.
Sure.
Yeah.
Okay.
Okay. Please standby one second.
Yeah.
Our next question comes from <unk> Gupta with GCI Partners. Please proceed with your question.
Thank you.
Everybody I. Appreciate you guys are doing this expanded format for this call very helpful.
I guess my first question.
I could ask a Dubai the couple if I could you talk a little bit about you know the.
The client expansion.
The <unk> that you guys announced recently that meaning.
Meaningful expansion.
What what drove that and can you also just give us a little bit of history on the duration.
The relationship just to kind of give us some perspective.
Sure yes, thanks for the question neurons.
Yes, the expansion was with an existing client that has actually been getting a lot of value and utilization out of the tool. They have seen the successes that they had they have a large footprint of hospitals. So we're just probably about a third of their hospitals. So we're slowly kind of expanding that and we've proven it working really well.
There and they just wanted to try and expand that into additional one of their their hospital sets as well too. So that's what's driving that growth just our success their existing facilities and are trying to expand it to the rest of their facilities.
And they're one of our early adopter. So we've been with this client or they've had been live on a red body product for roughly over two years.
Okay. So you've had that relationship for kidney errors and.
With this expansion that you're doing would you say you're closer to the 50% penetrated in the in the systems.
System is that fair.
Yeah that'd be accurate.
Okay. So is that another way of saying you got another you know you have an opportunity to further double your revenue with this customer over time is that.
Reasonably likely possibility.
Yes, likely kind of over time as well too there are different models with different type of facilities and hospitals that they have so it's kind of a mix I don't know if it'll be ever be 100%, but it is something that we're going to continue to grow into and there is still definitely room for more expansion within even within that client base.
Okay and do you think that this client base, just again, just kind of thinking about the opportunity just with one really large customer.
Think that there is an opportunity for other solutions like compare that you announced today and also are they you know potentially a candidate for evaluate over time.
Yes, one of the things that are kind of strategy is like we're going to do it really well, we're doing really well with this client and others and doing that kind of land and expand approach because once we have a great relationship with them and we can solve some of the problems, especially some of the things that the industry is dealing with around staffing and then coding issues as always obviously.
One of them are small to just naturally opens the door to add from the additional product that I mentioned earlier as well as evaluate or to that mix. So that's the strategy and that's the plan and that we will open the gateway to hopefully do that more with this client as well as others.
So another question just about lead Gen right.
I'm thinking about like piloting my understanding is you're working on a pretty large pilot right now with another large health system.
Just speak to kind of.
How thats progressing at this early stage and also is this something like you know how how are you driving these relationships is this again an extension of the Cerner cerner.
Cerner relationships.
Yeah.
A detailed hang on hang on hang on the yes.
Yes.
Go on to the next question if we can.
Okay.
Alright, then.
Maybe one for Ben.
Ben could you.
Then could you speak to.
Maybe just how your experience with evaluate or has evolved over the last couple of years.
For us sitting on the outside it's kind of hard.
See what what's been going on because they've been dealing with them.
Watching from a distance while you guys have been dealing with COVID-19 et cetera, but can you talk about kind of the changes that you now have you've implemented in the U C and implemented in the organization over the last 10 years period of time and how our go to market is different versus what it was.
Two years ago, and why you feel so optimistic going forward.
Sure.
I would say that the clients that we've added in the last.
Maybe going back three or four years now.
Have been very successful and I think the reason for that is our emphasis on the.
The client success. So we have a team that meets with our clients on a monthly basis to say, what's being most effective how do we make sure that the resources you do have are being able to review the most encounters the rules that we have which ones need to be turned on and turned off and really a level of customization for that.
Client that has.
Packer high water, they're going to be successful because we're making sure that they're reviewing exactly the rain counters and then that feeds back into the features we developed and then the rules. We we write et cetera. So I think that has started to really be an additive process and so.
The latest clients that we have coming on now are going live in less than 60 days, because we don't have any technical.
Barriers to getting them live and then we're basically day, one we already have things configured so that they can review the better encounters and it kind of is.
Just accelerated everything.
The thing that I would say is.
As Covid has gone on the demographics of the encounters coming through we've been able to learn from that but as we come out of hopefully come out of.
Covid, we're now shifting the rule sets and we're able to shift the rule sets.
To a place where we see how those demographics change and really pivot towards that so I think the clients that we have there are raving fans like I said.
And they are willing to be references they want more people within that client community because they see talking to each other and building on that as being a plus.
Great.
Thanks, So much guys I appreciate again, all the updates and.
It's nice to see things coming together good luck going forward.
Thanks very much.
It appears that there are no further questions at this time I would like to turn the floor back over to Jacob Goldberger for closing remarks.
Thank you all again for your interest and support of streamline health. If you have any additional questions or need more information. Please contact me at Jacob Goldberger at streamline health Dot net we look forward to speaking with you all again when we discuss our results for the first quarter of fiscal 2022 good day.
This concludes today's conference you may disconnect your lines at this time, thank you for participation.
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