Q1 2022 NantHealth Inc Earnings Call

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We signed several new professional service agreements with customers using horizon in Meridian versions of the open <unk> platform.

And finally, we completed global delivery of one new hardware appliances, expanding the existing hardware appliance beta program with a large consumer electronics electronics retailer.

To sum up we reported a solid first quarter with increases to Q1 revenues and gross profit from Q4 recent launches to help fuel our improved performance and our plan is to continue to invest in the development of our products and services to drive further growth.

With that over Europe business, I'll turn the call over to Bob to discuss our financial results in more detail Bob.

Thank you Ron for the first quarter 2022, total revenue was $16 4 million compared with $16 2 million in the prior year first quarter.

Quarter on quarter revenue grew two 2% in Q1 2022 versus Q4 of 2021.

The year on year and quarter on quarter were increases were mostly due to the growth in our equity products solutions.

Gross profit for the quarter was $9 2 million compared with $9 1 million for the same quarter in the prior year gross margin as a percent of total revenue was 56% for both periods.

Total operating expenses increased to $21 7 million from $18 5 million in the prior year first quarter.

This was mainly driven by the continued funding of the development of our product offerings.

For Q1 2022 net loss from continuing operations was approximately $16 million or <unk> 14 per share. This is compared with $15 5 million or <unk> 14 per cent per share in the prior year first quarter.

On a non-GAAP basis net loss from continuing operations in Q1 was $12 2 million or <unk> 11 per share. This is compared with $9 6 million or <unk> <unk> per share in the first quarter of last year.

Finally, cash and cash equivalents were approximately $16 1 million at March 31, 2022, compared with $29 1 million at December 31, 2021 usage of cash was approximately $13 million, which was driven by growth in opex and other working capital needs that are required in.

In the first quarter of every year with that I will now turn the call back over to Robert.

Thanks, Bob Operator, we've completed the prepared remarks, we'd now like to open up the call to questions.

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One moment please for the first question.

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There are no questions at this time I will now turn the presentation back to the speakers.

Thanks, operator, and thank you everyone for joining us today, we look forward to sharing our progress on our next planned conference call.

Have a good night.

That does conclude today's conference. We thank you for your participation and ask that you. Please disconnect your line.

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