Streamline Health Solutions, Inc. released its financial results for the fourth quarter and full fiscal year ended January 31, 2025, on May 1, 2025. For Q4 2024, total revenue was $4.7 million, down from $5.4 million in Q4 2023, while SaaS revenue was $3.1 million, compared to $3.4 million in the prior year's fourth quarter. The net loss for Q4 2024 increased to ($2.1 million) from ($1.4 million) in Q4 2023, primarily due to lower total revenue and higher non-cash interest expense.
For the full fiscal year 2024, total revenue was $17.9 million, a decrease from $22.6 million in fiscal 2023, largely due to previously announced SaaS non-renewals and declines in legacy segments. SaaS revenue for the full year was $11.8 million, down from $14.1 million in fiscal 2023. However, the fiscal year 2024 net loss improved to ($10.2 million) from ($18.7 million) in fiscal 2023, mainly due to the absence of $10.8 million in non-cash impairment charges incurred in 2023.
Adjusted EBITDA for Q4 2024 was $35,000, a decrease from $0.4 million in Q4 2023, while the full fiscal year 2024 adjusted EBITDA was a loss of ($1.3 million), an improvement from a loss of ($1.4 million) in fiscal 2023. Cash and cash equivalents as of January 31, 2025, were $2.2 million, down from $3.2 million a year prior. The company had a $1.0 million outstanding balance on its revolving credit facility.
Booked SaaS Annual Contract Value (ACV) was $14.0 million as of January 31, 2025, reflecting previously reported client non-renewals offset by $3.5 million in new bookings during fiscal year 2025. Management reiterated its expectation to achieve an adjusted EBITDA positive run rate during the first half of fiscal 2025. Subsequent to the quarter, on March 28, 2025, the company amended certain financial covenants and drew an additional $1.0 million from its revolving line of credit.
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