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NextGen Healthcare (NXGN) Q1 Earnings & Revenues Top Estimates
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NextGen Healthcare, Inc. reported fiscal first-quarter 2022 adjusted earnings per share (EPS) of 25 cents, beating the Zacks Consensus Estimate of 21 cents by 19%. The bottom line improved 19% from the prior-year quarter.
GAAP EPS in the quarter was 63 cents, up 31.3% from the prior-year quarter.
Revenue Details
Revenues were $146.1 million, up 11.6% year over year. The top line surpassed the Zacks Consensus Estimate by 4.4%.
Segment Details
The company reported first-quarter fiscal 2022 revenues under the following segments:
Total Recurring revenues were $132.4 million, up 10.8% from the year-ago quarter.
NEXTGEN HEALTHCARE, INC Price, Consensus and EPS Surprise
Total Software, hardware and other non-recurring revenues amounted to $13.7 million, up 20.7% on a year-over-year basis.
Margins
In the quarter under review, gross profit totaled $73.3 million, up 13.7% from the prior-year quarter. Gross margin was 50.2%, up 90 basis points (bps).
Total operating expenses amounted to $69.6 million, up 11.1% from the year-ago quarter.
Operating profit totaled $3.7 million, up 98.9% year over year. Operating margin in the fiscal first quarter was 2.6%, up 120 bps.
Cash Position
Cash and cash equivalents were $63 million at the end of the fiscal first quarter, compared with $73.3 million in the previous quarter.
Net cash flow from operations in the fiscal first quarter came in at $0.3 million, compared with $17.7 million in the prior-year period.
Fiscal 2022 Guidance Updated
The company projects revenues in the range of $576 million to $586 million (up from the previously guided range of $574-$584 million). The Zacks Consensus Estimate for the same is pegged at $579.5 million.
Adjusted EPS is projected within 89-95 cents. The Zacks Consensus Estimate for the same stands at 92 cents.
Summing Up
NextGen Healthcare exited the fiscal first quarter on a strong note, wherein both the earnings and revenues beat the Zacks Consensus Estimate. The company benefited from its operating segments in the quarter under review. Expansion in both gross and operating margins is another plus. Per management, NextGen Healthcare exhibited solid performance in the quarter under review indicating higher demand for its expansive offerings.
On the flip side, NextGen Healthcare faces intense competition in the MedTech space. Increase in operating expenses remains a concern.
Zacks Rank
NextGen Healthcare currently carries a Zacks Rank #4 (Sell).
Boston Scientific reported second-quarter 2021 adjusted EPS of 40 cents, which beat the Zacks Consensus Estimate by 8.1%. Second-quarter revenues of $3.08 billion outpaced the consensus mark by 4.4%.
West Pharmaceutical reported second-quarter 2021 adjusted EPS of $2.46, which surpassed the Zacks Consensus Estimate by 41.4%. Second-quarter revenues of $723.6 million outpaced the Zacks Consensus Estimate by 8.7%.
LabCorp reported second-quarter 2021 adjusted EPS of $6.13, surpassing the Zacks Consensus Estimate by 8.7%. Revenues of $3.84 billion exceeded the Zacks Consensus Estimate by 6.9%.
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NextGen Healthcare (NXGN) Q1 Earnings & Revenues Top Estimates
NextGen Healthcare, Inc. reported fiscal first-quarter 2022 adjusted earnings per share (EPS) of 25 cents, beating the Zacks Consensus Estimate of 21 cents by 19%. The bottom line improved 19% from the prior-year quarter.
GAAP EPS in the quarter was 63 cents, up 31.3% from the prior-year quarter.
Revenue Details
Revenues were $146.1 million, up 11.6% year over year. The top line surpassed the Zacks Consensus Estimate by 4.4%.
Segment Details
The company reported first-quarter fiscal 2022 revenues under the following segments:
Total Recurring revenues were $132.4 million, up 10.8% from the year-ago quarter.
NEXTGEN HEALTHCARE, INC Price, Consensus and EPS Surprise
NEXTGEN HEALTHCARE, INC price-consensus-eps-surprise-chart | NEXTGEN HEALTHCARE, INC Quote
Total Software, hardware and other non-recurring revenues amounted to $13.7 million, up 20.7% on a year-over-year basis.
Margins
In the quarter under review, gross profit totaled $73.3 million, up 13.7% from the prior-year quarter. Gross margin was 50.2%, up 90 basis points (bps).
Total operating expenses amounted to $69.6 million, up 11.1% from the year-ago quarter.
Operating profit totaled $3.7 million, up 98.9% year over year. Operating margin in the fiscal first quarter was 2.6%, up 120 bps.
Cash Position
Cash and cash equivalents were $63 million at the end of the fiscal first quarter, compared with $73.3 million in the previous quarter.
Net cash flow from operations in the fiscal first quarter came in at $0.3 million, compared with $17.7 million in the prior-year period.
Fiscal 2022 Guidance Updated
The company projects revenues in the range of $576 million to $586 million (up from the previously guided range of $574-$584 million). The Zacks Consensus Estimate for the same is pegged at $579.5 million.
Adjusted EPS is projected within 89-95 cents. The Zacks Consensus Estimate for the same stands at 92 cents.
Summing Up
NextGen Healthcare exited the fiscal first quarter on a strong note, wherein both the earnings and revenues beat the Zacks Consensus Estimate. The company benefited from its operating segments in the quarter under review. Expansion in both gross and operating margins is another plus. Per management, NextGen Healthcare exhibited solid performance in the quarter under review indicating higher demand for its expansive offerings.
On the flip side, NextGen Healthcare faces intense competition in the MedTech space. Increase in operating expenses remains a concern.
Zacks Rank
NextGen Healthcare currently carries a Zacks Rank #4 (Sell).
Earnings of Other MedTech Majors at a Glance
Some better-ranked stocks in the broader medical space that have already announced their quarterly results are Boston Scientific Corporation (BSX - Free Report) , West Pharmaceutical Services, Inc. (WST - Free Report) and Laboratory Corporation of America Holdings (LH - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Boston Scientific reported second-quarter 2021 adjusted EPS of 40 cents, which beat the Zacks Consensus Estimate by 8.1%. Second-quarter revenues of $3.08 billion outpaced the consensus mark by 4.4%.
West Pharmaceutical reported second-quarter 2021 adjusted EPS of $2.46, which surpassed the Zacks Consensus Estimate by 41.4%. Second-quarter revenues of $723.6 million outpaced the Zacks Consensus Estimate by 8.7%.
LabCorp reported second-quarter 2021 adjusted EPS of $6.13, surpassing the Zacks Consensus Estimate by 8.7%. Revenues of $3.84 billion exceeded the Zacks Consensus Estimate by 6.9%.