Streamline Health Solutions, Inc. announced its financial results for the fiscal first quarter of 2025, which ended April 30, 2025, on June 16, 2025. Total revenue for the quarter increased approximately 12% to $4.8 million, compared to $4.3 million in Q1 2024. This growth was primarily driven by successful implementation of new SaaS contracts.
SaaS revenue for Q1 2025 increased by 23% to $3.4 million, up from $2.7 million in Q1 2024, representing 70% of total revenue. The company reported a net loss of ($1.6 million), an improvement from a net loss of ($2.7 million) in Q1 2024. This improved net loss resulted from increased revenue and cost savings from the fiscal 2023 strategic restructuring, partially offset by higher interest expense.
Adjusted EBITDA for Q1 2025 was positive at $0.2 million, a significant improvement from a loss of ($0.7 million) in Q1 2024. This improvement reflects the company's focus on SaaS revenue growth and substantial cost savings. Cash and cash equivalents as of April 30, 2025, were $1.4 million, down from $2.2 million at January 31, 2025.
The company also reiterated the definitive merger agreement with MDaudit, announced on May 29, 2025. Under this agreement, MDaudit will acquire Streamline in an all-cash transaction valued at approximately $37.4 million, or $5.34 per share. The merger is expected to close during the third quarter of calendar year 2025.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.