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July 31, 2015 11:45 PM ET

Commercial Services and Supplies

Company Overview of Performant Financial Corporation

Company Overview

Performant Financial Corporation provides technology-enabled recovery and related analytics services in the United States. Its services help identify and recover delinquent or defaulted assets and improper payments for government and private clients in various markets. The company offers recovery services primarily to the government-supported student loan industry, including the Department of Education and various guaranty agencies, as well as private financial institutions; and audit and recovery services to identify improper healthcare payments for public and private healthcare markets. It also provides tax recovery services to state and municipal agencies, as well as financial institution...

333 North Canyons Parkway

Suite 100

Livermore, CA 94551

United States

Founded in 1976

1,484 Employees



Key Executives for Performant Financial Corporation

Chairwoman and Chief Executive Officer
Age: 50
Total Annual Compensation: $403.1K
Chief Financial Officer and Secretary
Age: 57
Total Annual Compensation: $320.0K
Chief Operating Officer
Age: 57
Total Annual Compensation: $352.7K
Compensation as of Fiscal Year 2014.

Performant Financial Corporation Key Developments

Performant Financial Corporation(NasdaqGS:PFMT) dropped from Russell 2000 Index

Performant Financial Corporation will be removed from Russell 2000 Index

Performant Financial Corporation(NasdaqGS:PFMT) dropped from Russell 3000 Index

Performant Financial Corporation will be removed from Russell 3000 Index.

Performant Financial Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Performant Financial Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net loss of $4.4 million, resulting in a net loss per diluted share of $0.09, compared to net income of $6.3 million, or $0.13 per diluted share, in the prior year period. Adjusted net loss of $0.5 million, or $0.01 per diluted share, compared to adjusted net income of $7.6 million and $0.15 per diluted share, respectively, in the prior year period. Adjusted EBITDA of $4.1 million, compared to $17.4 million in the prior year period. Total revenues of $38.6 million, representing a year-over-year decrease of 34.2%. Net cash provided by operating activities was $1,523,000 against $14,275,000 a year ago. Purchase of property, equipment, and leasehold improvements was $1,777,000 against $2,752,000 a year ago. Loss before provision for income taxes was $6,745,000 against income before provision for (benefit from) income taxes of $10,868,000 a year ago.

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