Q3 2022 NantHealth Inc Earnings Call

50000, new members to navigate.

We went live with Navidad open prior authorization for a key customer this capability designed to streamline workflows and data collection to enable automated decision to reduce manual processes. This initial deployment has been completed with further role as planned in the current fourth quarter <unk>.

And we added a new platform functionality to speed up prior authorization process.

This enables more timing patient care.

Turning to our network monitoring business to open <unk>.

Completed shipment of small form factor open internet, many appliances or user testing.

Each hardware appliances are highly optimized for secure scalable and reliable distributed <unk> component.

Made significant progress toward the development of capability that will let customers monitor infrastructure is built using Vmware SD win.

Initiative March significant milestone in the open M. S. Many services provider MSP support program.

And finally, we deliver on several service engagements deposition open <unk> is a strategically significant within the clients I T organizations.

Clients included a large national retail chain and entertainment streaming service and a top wireless communication provider.

Revenues increase for the fourth consecutive quarter and gross margin around 58% was the ice and support order of 2020 or any connect platform or in full your ex accreditation for health utilization management through 2025 during the third quarter and thus far to the fourth we signed multiple renewal agreements and contracts extensions some of them.

Put additional products and services with that overview of our business I'll turn the call over to Bob to discuss our financial results in more detail Bob.

Thank you Ron for Q3, 2022 total revenue was 16.6 million compared with 14, Fortunately in the prior year third quarter.

You're on your increase was mostly due to growth and increased ebony services from the previous year.

Year to date revenue for 2022, this up approximately 6% from the same period last year at $49.5 billion versus $46 six smelly.

Gross profit for the quarter was $9.7 million, which is an increase from the $7.5 million. The same quarter last year gross profit per cent was 58% from 52% this quarter last year.

Year to date gross margin for 2022 was up approximately 9% from the same period last year, which is mostly tied to the increase in revenue.

Total operating expenses increased to 28.3% and $23.9 million from $18.6 million in the prior year third quarter year to date operating expenses for 2022 or approximately 21.2% from the same period last year.

This is a result of the continued investments, we're making in our product portfolios and as much structure technology buildup.

423, 2022 that loss attributable to that health was $13.7 million or 12 cents per share as compared with $10.8 billion.

Nine cents per share in the prior year third quarter <unk>.

The date and that loss and you have to bolt to net <unk> are similar to the same period last year at approximately $42 million.

On the non-GAAP basis that loss from continuing operations in Q3, 2022 was $14 million or 12 cents per share as compared with $11.5 million or 10 cents per share for the third quarter of last year.

Finally fashion cash equivalents four o'clock Somali point $6 million that September 30th which is compared with $5.7 million at June 30th 2022.

Usage of cash was approximately $5.1 million, which was driven by normal working capital needs.

With that I will now turn the call back over to Robert.

Thanks, Bob Operator, we've completed our prepared remarks that we're now open too.

We'd like to open up the call to questions.

Thank you if you'd like to register a question. Please press the one followed by the four on your telephone.

You will hear a three tone prompt technology your request.

If your question has been answered and you would like to try your registration. Please press the one followed by the three.

One moment, please put the first question.

And there appeared to be no questions on the phone rang at this time, Mr. Jaffee I'll turn the call back to Ya for closing remarks.

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

Good night.

That does conclude the conference call for today, we thank you for your participation and ask that you. Please disconnect your lines.

[music].