Athenahealth reports first-quarter results
Total revenue for the three months ending March 31 was $69.9 million, compared to $54.5 million in the same period last year, an increase of 28 percent.
For the three months endng March 31, non-GAAP adjusted EBITDA grew to $13.4 million, or 19 percent of total revenue, up from $6.4 million, or 12 percent of total revenue, in the same period last year.
Key metrics and milestones in the first quarter of fiscal year 2011 included:
- $1.6 billion in collections posted to client accounts in the first quarter of 2011, compared to $1.3 billion in the same quarter of 2010;
- 41 average client days in accounts receivable (DAR) in the first quarter of 2011, compared to 40 average Client DAR in the same quarter of 2010;
- 27,944 active medical providers using athenaCollector at March 31, 19,778 of whom were physicians. This compares to 23,978 providers and 16,369 physicians at March 31, 2010;
- 4,161 providers using athenaClinicals as of March 31, 2,910 of whom were physicians, compared to 1,867 providers and 1,275 physicians at March 31, 2010;
- 1,564 active medical providers using athenaCommunicator at March 31, 934 of whom were physicians, compared to 513 providers and 348 physicians at March 31, 2010.
As of March 31, 2011, athenahealth had cash, cash equivalents, short and long-term investments of $125.7 million and short- and long-term debt and capital lease obligations of $8.4 million.