Ontrak, Inc. ( ($OTRK) ) has released its Q1 earnings. Here is a breakdown of the information Ontrak, Inc. presented to its investors.
Ontrak, Inc. is a value-based behavioral healthcare company leveraging AI and technology to improve clinical outcomes and reduce healthcare costs for vulnerable populations. In its latest earnings report, Ontrak announced a first-quarter revenue of $2.0 million, marking a 25% decrease from the previous year, alongside an operating loss of $5.9 million, which increased by 37% year over year. Despite these financial setbacks, the company has secured a $10 million financing commitment from Acuitas Capital LLC and achieved recertification by the National Committee for Quality Assurance as a Credentials Verification Organization. Key financial metrics for the first quarter of 2025 include an adjusted EBITDA of negative $4.3 million, a net loss of $6.9 million, and a non-GAAP net loss of $5.5 million. Ontrak also reported significant growth in its membership programs, with the Ontrak Engage solution seeing a substantial increase in enrolled members. Looking ahead, Ontrak’s management remains optimistic about doubling its run-rate revenue in 2025, driven by its AI-driven engagement system and strategic partnerships, positioning the company for potential growth in the coming quarters.
