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May 23, 2015 12:33 AM 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

Phone:

925-960-4800

Key Executives for Performant Financial Corporation

Chairwoman and Chief Executive Officer
Age: 49
Total Annual Compensation: $403.1K
Chief Financial Officer and Secretary
Age: 56
Total Annual Compensation: $320.0K
Chief Operating Officer
Age: 56
Total Annual Compensation: $352.7K
Compensation as of Fiscal Year 2014.

Performant Financial Corporation Key Developments

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.

Performant Financial Corporation

Performant Financial Corporation (NasdaqGS:PFMT) is seeking acquisitions. Lisa Im, Chief Executive Officer and Board Chair, said, "We're continuing to grow and our growth rate on healthcare is encouraging because again we're ramping up on many of these contracts, we're winning new contracts, we're also continuing to look at various different types of acquisitions and so an inorganic expansion is certainly not out of the picture. We're going to be very thoughtful and as we've stated in the past, make sure that it is good for shareholders. So, we're continuing to look at different ways that we can accelerate our growth in the market and expand our product services as well."

Performant Financial Corporation to Report Q1, 2015 Results on May 06, 2015

Performant Financial Corporation announced that they will report Q1, 2015 results at 5:00 PM, US Eastern Standard Time on May 06, 2015

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