SHARECARE Reports strong Q2 Earnings for FY2023
August 22, 2023
☀️Earnings Overview
On June 30 2023, SHARECARE ($NASDAQ:SHCR) released its second quarter earnings results for FY2023, revealing total revenue of USD 110.3 million, a 6.3% increase from the same period of the previous year. The company reported a net income of USD -35.1 million, compared to USD -29.0 million in the prior year.
Share Price
On Wednesday, SHARECARE reported strong Q2 earnings for FY2023, with its stock opening at $1.3 and closing at $1.2, down by 3.3% from the previous closing price of $1.2. The growth in revenue was mainly driven by increases in subscription services, software sales, and advertising revenue. Overall, SHARECARE’s strong Q2 earnings indicate a positive outlook for the company and a solid foundation for growth in the future.
The company’s management has stated that they are focused on continuing to drive revenue growth and are confident in their ability to do so. Investors are encouraged by the strong results in Q2 and remain optimistic about the company’s future prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sharecare. More…
| Total Revenues | Net Income | Net Margin |
| 464.53 | -121.28 | -26.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sharecare. More…
| Operations | Investing | Financing |
| -30.98 | -35.32 | -1.3 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sharecare. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 655.39 | 184.43 | 1.32 |
Key Ratios Snapshot
Some of the financial key ratios for Sharecare are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.2% | – | -25.9% |
| FCF Margin | ROE | ROA |
| -14.3% | -15.6% | -11.5% |
Analysis
We at GoodWhale recently performed an analysis of SHARECARE’s wellbeing. Based on our Risk Rating, we’ve assessed it to be a high risk investment in terms of financial and business aspects. Specifically, we’ve detected two risk warnings in income sheet and cashflow statement. If you’d like to know more about our analysis, become a registered user and gain access to our platform. As a registered user, you’ll be able to view our full report and gain more insight into the potential risks associated with SHARECARE. More…
Peers
Sharecare Inc is in a competitive market with Ping An Healthcare And Technology Co Ltd, Premier Health Of America Inc, and Phreesia Inc. All of these companies are striving to provide the best technology and services to their customers and patients, making it a highly competitive environment. Each company is striving to bring the latest innovations and technologies to the healthcare industry while providing outstanding customer service. As such, the competition between these companies is fierce and shows no signs of slowing down.
– Ping An Healthcare And Technology Co Ltd ($SEHK:01833)
Ping An Healthcare And Technology Co Ltd is a Chinese financial services and technology conglomerate established in 1988. It has business interests in banking, insurance, healthcare, technology, and other industries. As of 2022, the company has a market capitalization of 24.78 billion US dollars. Its return on equity (ROE) stands at -4.81%, which suggests that the company has been struggling to create value for shareholders. This could be attributed to the high levels of competition and the rapid pace of technological innovation in the financial services and technology sectors. Ping An’s core strategy is to leverage its technological capabilities to provide innovative and comprehensive financial services.
– Premier Health Of America Inc ($TSXV:PHA)
Premier Health of America Inc. is a publicly traded health services company that provides a range of healthcare solutions and managed care services to individuals, families, and employers. Its market capitalization as of 2022 is 20.77 million, which is an indication of the company’s financial strength and size. With a Return on Equity (ROE) of 7.42%, the company has demonstrated a good ability to generate profits from its investments. Premier Health of America Inc. strives to provide quality medical care to its customers at a reasonable cost, while striving to improve access to healthcare services. The company is committed to providing the highest quality care and service to its customers and creating value for its shareholders.
– Phreesia Inc ($NYSE:PHR)
Phreesia Inc is a healthcare technology company that provides patient intake and payment solutions. The company has a market cap of 1.69B as of 2022, which is indicative of a strong financial performance and positive outlook in the market. Additionally, Phreesia has an impressive Return on Equity (ROE) of -34.18%, which shows that the company is able to generate profits from its investments and that it has a sound financial strategy. This is indicative of the company’s ability to capitalize on its investments and generate returns for its shareholders.
Summary
Investors in Sharecare were not pleased with the company’s second quarter earnings for FY2023, as total revenue increased by only 6.3% over the prior year quarter and net income was a loss of USD -35.1 million compared to a loss of USD -29.0 million in the same period of the previous year. The stock price dropped on the same day, suggesting that investors have a pessimistic outlook on Sharecare’s financial performance. Analysts will be closely monitoring the company’s future performance to see if they can turn this situation around.
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