NEXTGEN HEALTHCARE Reports Earnings Results for First Quarter of FY2024
August 9, 2023
🌥️Earnings Overview
On July 24 2023, NEXTGEN HEALTHCARE ($NASDAQ:NXGN) announced its financial results for the first quarter of FY2024, ending June 30 2023. The company reported total revenue of USD 178.2 million, an increase of 16.2% year-over-year. Net income for the quarter was USD 6.2 million, a significant improvement compared to the 1.2 million reported in the same quarter the year prior.
Price History
Despite the overall decline in share price, NEXTGEN HEALTHCARE‘s stock performance was relatively positive compared to the overall market decline of 1.2%. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nextgen Healthcare. More…
| Total Revenues | Net Income | Net Margin |
| 678.08 | 2.35 | 0.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nextgen Healthcare. More…
| Operations | Investing | Financing |
| 40.21 | -224.13 | 213.48 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nextgen Healthcare. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 868.47 | 457.95 | 6.12 |
Key Ratios Snapshot
Some of the financial key ratios for Nextgen Healthcare are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.9% | -23.1% | 3.1% |
| FCF Margin | ROE | ROA |
| 0.5% | 3.3% | 1.5% |
Analysis
At GoodWhale, we conducted an analysis of NEXTGEN HEALTHCARE‘s fundamentals. Our Star Chart showed that NEXTGEN HEALTHCARE has a high health score of 8/10, considering its cashflows and debt. The company is capable of paying off debt and funding future operations. In terms of market fundamentals, NEXTGEN HEALTHCARE is strong in profitability, medium in asset, growth and weak in dividend. We also classified NEXTGEN HEALTHCARE as a ‘gorilla’ company – one that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given the results of our analysis, NEXTGEN HEALTHCARE may be of interest to investors looking for a stable, high-growth company with strong competitive advantages. Those seeking to invest in competitively advantaged businesses may find NEXTGEN HEALTHCARE to be a promising option. More…
Peers
In the healthcare industry, there is intense competition between NextGen Healthcare Inc and its competitors: MobileSmith Inc, Spok Holdings Inc, and Carepay Inc. All four companies are vying for market share in the healthcare industry, and each has its own unique strengths and weaknesses. In order to succeed, each company must carefully craft its strategy and execution in order to outmaneuver its competitors.
– MobileSmith Inc ($NASDAQ:SPOK)
Spok Holdings Inc is a provider of healthcare communications solutions. The company operates in two segments: Spok Healthcare and Spok Business Solutions. The Spok Healthcare segment provides workflow solutions, including paging, clinical alerting, nurse call, and cellular telecommunications to healthcare organizations. The Spok Business Solutions segment provides two-way radio, paging, and other communication solutions to business and government organizations.
– Spok Holdings Inc ($OTCPK:SOFE)
Carepay Inc is a health technology company that provides a mobile platform for patients and providers to manage care coordination and payments. The company has a market cap of 109.37k and a ROE of 18.06%. The company’s platform enables patients to track their health data, schedule appointments, and pay for their care. The platform also allows providers to manage their patients’ care, schedule appointments, and accept payments.
Summary
NEXTGEN HEALTHCARE reported strong financial performance in its first quarter of FY2024, with total revenue increasing 16.2% year-over-year and net income improving by fivefold. This indicates a favorable business climate and presents an attractive opportunity for investors. The company has a solid balance sheet with solid cash flow and a healthy debt-to-equity ratio.
Analysts also note that NEXTGEN HEALTHCARE’s robust growth outlook and efficient cost structure should continue to drive long-term returns. This, combined with the company’s strong fundamentals, makes it a compelling investment option for those seeking a reliable healthcare stock.
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