Last10K.com

Tabula Rasa Healthcare, Inc. (TRHC) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Tabula Rasa Healthcare, Inc.

HISTORY TOOLS
CIK: 1651561 Ticker: TRHC

Exhibit 99.1

Tabula Rasa HealthCare Reports Fourth Quarter and Full Year 2021 Results

​

●Fourth quarter and full year 2021 revenue grew 11% and 11% (7% on an organic basis), respectively, year-over-year.
●Fourth quarter and full year 2021 CareVention HealthCare revenue grew 16% and 20% (14% on an organic basis), respectively, year-over-year. The positive trends in our key annual metrics for PACE disclosed below, combined with our strong contracted PACE backlog of $45 million, give us confidence in our growth outlook entering 2022.
●Fourth quarter and full year 2021 MedWise HealthCare software subscriptions revenue grew 24% and 10%, respectively, driven by our PrescribeWellness cloud-based software platform serving more than 15,000 independent community pharmacies.
●Fourth quarter and full year 2021 free cash flow totaled a positive $1.5 million and negative $19.7 million, respectively. The return to positive free cash flow is one of several important steps we are taking to materially strengthen our balance sheet.

​

​

​

​

​

​

​

​

​

​

​

​

​

Key Financial Results

(in millions except percentages)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Actual

​

Year over year change

​

​

​

Guidance Low

​

​

Guidance High

Three Months Ended December 31, 2021

​

​

​

​

​

​

​

​

​

​

​

​

Total revenue

​

$

85.7

​

11.2

%

​

$

84.0

​

$

86.0

GAAP net loss

​

​

(21.4)

​

(30.2)

%

​

​

(19.8)

​

​

(18.8)

Non-GAAP Adjusted EBITDA

​

​

4.3

​

(8.6)

%

​

​

4.0

​

​

5.0

​

​

​

​

​

​

​

​

​

​

​

​

​

Twelve Months Ended December 31, 2021

​

​

​

​

​

​

​

​

​

​

​

​

Total revenue

​

​

331.3

​

11.5

%

​

​

329.6

​

​

331.6

GAAP net loss

​

​

(79.1)

​

(2.4)

%

​

​

(77.5)

​

​

(76.5)

Non-GAAP Adjusted EBITDA

​

​

19.6

​

(9.9)

%

​

​

19.3

​

​

20.3

​

​

MOORESTOWN, N.J., February 24, 2022 /PRNewswire/ -- Tabula Rasa HealthCare, Inc. (“TRHC”) (Nasdaq: TRHC), a leading healthcare technology company advancing the safe use of medications, today reported financial results for the fourth quarter and full year ended December 31, 2021.

​

“Our fourth quarter results represent solid execution with double-digit growth across three of our four major revenue streams. We have made material progress on the three strategic objectives we outlined in our third quarter earnings report, specifically, leadership changes, the further consideration of the sale of non-core assets, and transformational partnerships. We believe that the actions we are taking will position the company to deliver increased revenue growth, greater profitability and free cash flow in 2022 and beyond,” said Calvin H. Knowlton, PhD, TRHC’s Chief Executive Officer, Chairman and Founder.

​

Recent Developments and Management Addition

​

Strategic Initiatives

​

In an effort to drive greater future internal efficiencies and increased client satisfaction, we are undertaking a number of initiatives including: 1) the outsourcing of our IT infrastructure to Accenture; 2) a more favorable pharmacy benefit manager (PBM) rebate agreement within our Pharmastar operations; and 3) a newly signed business processing outsourcing (BPO) contract within our third-party administrative (TPA) services that will take effect in late February 2022. These actions and additional ongoing efforts, such as our decision to divest non-core assets, give us confidence in our ability to materially strengthen our balance sheet and cash position in 2022 while managing the growing business. We expect to generate positive free cash flow on a quarterly basis beginning in the third quarter of 2022 and consistently thereafter.

​

New Chief Financial Officer

The following information was filed by Tabula Rasa Healthcare, Inc. (TRHC) on Friday, February 25, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Tabula Rasa Healthcare, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Tabula Rasa Healthcare, Inc..

Continue

Assess how Tabula Rasa Healthcare, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Tabula Rasa Healthcare, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
M & A
Legal
Other
Filter Subcategory:
All
Expense
Cash Flow
Earnings
Product
Shares
Geography
Income
Other
Inside Tabula Rasa Healthcare, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accrued Expenses And Other Liabilities
Accrued Expenses And Other Liabilities (Details)
Accrued Expenses And Other Liabilities (Tables)
Acquisitions
Acquisitions (Tables)
Acquisitions - Doseme (Details)
Acquisitions - Personica (Details)
Acquisitions - Prescribe Wellness (Details)
Acquisitions - Pro Forma (Unaudited) (Details)
Commitments And Contingencies
Commitments And Contingencies - Vendor Purchase Agreements (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Contingent Consideration (Details)
Fair Value Measurements - Contingent Consideration Liability (Details)
Fair Value Measurements - Financial Instruments (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Amortization (Details)
Goodwill And Intangible Assets - Goodwill (Details)
Goodwill And Intangible Assets - Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components (Details)
Income Taxes - Deferred Taxes (Details)
Income Taxes - Effective Tax Rate (Details)
Income Taxes - Expense (Benefit) (Details)
Income Taxes - Nols (Details)
Income Taxes - Rate Reconciliation (Details)
Income Taxes - Valuation Allowance (Details)
Leases
Leases (Tables)
Leases - Additional Operating Lease Commitments (Details)
Leases - Components Of Lease Expense (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Lines Of Credit And Long-Term Debt
Lines Of Credit And Long-Term Debt (Tables)
Lines Of Credit And Long-Term Debt - Convertible Note Hedge And Warrant Transactions (Details)
Lines Of Credit And Long-Term Debt - Convertible Senior Subordinated Notes (Details)
Lines Of Credit And Long-Term Debt - Lines Of Credit (Details)
Lines Of Credit And Long-Term Debt - Long-Term Debt (Details)
Nature Of Business
Nature Of Business (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Anti-Dilutive Securities (Details)
Net Loss Per Share - Eps (Details)
Notes Payable Related To Acquisition
Notes Payable Related To Acquisition (Details)
Other Current Assets
Other Current Assets (Details)
Other Current Assets (Tables)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Related Party Transactions
Related Party Transactions (Details)
Retirement Plan
Retirement Plan (Details)
Revenue
Revenue (Tables)
Revenue - Change In Contract Balances (Details)
Revenue - Contract Balances (Details)
Revenue - Disaggregation (Details)
Revenue - General (Details)
Schedule Ii - Valuation And Qualifying Accounts (Details)
Schedule Ii-Valuation And Qualifying Accounts
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Ebitda (Details)
Segment Reporting - Reconciliation Of Net Loss To Adjusted Ebitda (Details)
Segment Reporting - Revenue (Details)
Software Development Costs
Software Development Costs (Details)
Software Development Costs (Tables)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Employee Stock Purchase Plan (Details)
Stock-Based Compensation - Expense (Details)
Stock-Based Compensation - Options Activity (Details)
Stock-Based Compensation - Options Valuation (Details)
Stock-Based Compensation - Other Stock Awards (Details)
Stock-Based Compensation - Performance Based Equity Awards (Details)
Stock-Based Compensation - Plans (Details)
Stock-Based Compensation - Restricted Common Stock And Restricted Stock Units (Details)
Stockholders' Equity
Stockholders' Equity - Warrants (Details)
Subsequent Event
Subsequent Event (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Accounts Receivable, Net (Details)
Summary Of Significant Accounting Policies - Advertising Costs And Segment Data (Details)
Summary Of Significant Accounting Policies - Basis Of Presentation (Details)
Summary Of Significant Accounting Policies - Concentrations (Details)
Summary Of Significant Accounting Policies - Goodwill And Impairment Of Long-Lived Assets (Details)
Summary Of Significant Accounting Policies - Property And Equipment And Software Development Costs, Net (Details)
Summary Of Significant Accounting Policies - Recent Accounting Pronouncements (Details)
Summary Of Significant Accounting Policies - Shipping And Handling (Details)
Summary Of Significant Accounting Policies - Stock-Based Compensation (Details)
Ticker: TRHC
CIK: 1651561
Form Type: 10-K Annual Report
Accession Number: 0001558370-22-002164
Submitted to the SEC: Fri Feb 25 2022 4:38:45 PM EST
Accepted by the SEC: Fri Feb 25 2022
Period: Friday, December 31, 2021
Industry: Business Services

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/trhc/0001558370-22-002164.htm