Performant Healthcare, Inc.
7.75+0.00 (+0%)
Oct 20, 4:00:00 PM EDT · NasdaqGS · PHLT · USD
Key Stats
Market Cap
623.41MP/E (TTM)
-Basic EPS (TTM)
-0.01Dividend Yield
0%Recent Filings
8-K
Acquisition closes at $7.75/share
Performant Healthcare completed its acquisition by Continental Buyer on October 21, 2025, via a merger where shareholders received $7.75 per share in cash. The deal terminated the company's credit agreement, delisted shares from Nasdaq, and shifted control to Parent's directors. Stockholders lost public equity rights. Integration starts now.
8-K
Stockholders approve Performant merger
Performant Healthcare stockholders overwhelmingly approved the merger with Continental Buyer on October 17, 2025, with 56.4 million votes in favor against just 4,646 opposed, clearing the path for the deal announced July 31. The advisory vote on executive compensation passed narrowly, while adjournment was backed strongly. Yet risks linger: regulatory approvals could delay closure. Uncertainty clouds completion.
10-Q
Q2 FY2025 results
Performant Healthcare swung to profitability in Q2 FY2025 ended June 30, 2025, with revenues climbing 29% y/y to $37.8M on surging healthcare demand, while operating income flipped from a $2.7M loss to $2.6M gain. Claims-based services jumped 44% y/y to $19.7M, eligibility-based up 27% to $18.1M, fueled by expanded commercial scopes and prior implementations; gross margins held steady amid 9% higher salaries for growth support. Diluted EPS hit $0.03 on 80.7M shares, aligning with net income of $2.1M after minor tax drag. Cash edged to $9.1M with $3.3M operating inflow offsetting $2.7M capex; free cash flow ran $0.6M positive (derived), backed by $16.9M revolver availability against $8.0M debt at 7.1%. A pending merger with Machinify, announced July 31 for $7.75/share cash, eyes year-end close pending approvals. Yet regulatory shifts could crimp audit scopes.
8-K
Performant merger at $7.75/share
Performant Healthcare agreed to merge with Machinify on July 31, 2025, for $7.75 per share in cash, valuing the deal at $670 million—a 139% premium to its 90-day VWAP. The transaction, backed by New Mountain Capital, aims to blend Performant's payment integrity expertise with Machinify's AI platform to cut healthcare costs and boost efficiency for payers. Closing hinges on stockholder approval and regulatory nods by end-2025. Deal failure risks a $19.98 million termination fee.
8-K
Q2 prelims and acquisition deal
Performant Healthcare announced preliminary Q2 2025 results, projecting $37.8 million in revenue, $2.1 million net income, and $6.2 million adjusted EBITDA. Yet the bigger news: a definitive agreement to be acquired by Machinify, a New Mountain Capital portfolio company, prompting withdrawal of full-year guidance. This deal positions Performant for enhanced healthcare intelligence integration, though risks like long contract implementations loom.
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