Latest news with #Ontrak
Business Wire
20-05-2025
- Business
- Business Wire
Ontrak Secures Financing Commitment to Fuel Growth and Innovation
MIAMI--(BUSINESS WIRE)--Ontrak, Inc. (NASDAQ: OTRK), a leading value-based behavioral healthcare company powered by proprietary AI and engagement technology, announced it has secured a $10 million financing commitment from Acuitas Capital, LLC. This financing commitment will support Ontrak's continued growth and innovation in delivering comprehensive behavioral healthcare solutions and is structured to provide Ontrak with the necessary capital to expand its customer base while continuing to drive further advancements in its AI and digital capabilities. The commitment contemplates that Ontrak may raise additional financing from third parties to further support its growth initiatives. Brandon LaVerne, Chief Executive Officer of Ontrak, Inc., expressed enthusiasm about the new financing commitment: "We appreciate the continued support of Acuitas Capital as we advance our mission to transform healthcare. This financing commitment will allow us to accelerate our growth initiatives, enhance our technology platform, and deliver even greater value to our customers and stakeholders." The full text of the agreement with Acuitas Capital, LLC, will be an exhibit to a Current Report on Form 8-K the Company will file with the Securities and Exchange Commission today and is available on the SEC's website or through Ontrak Health's investor relations page. About Ontrak, Inc. Ontrak Health (Nasdaq: OTRK) is a leading value-based behavioral healthcare company powered by proprietary AI and engagement technology, whose mission is to help improve the health and save the lives of as many people as possible. Ontrak uniquely identifies, engages, and delivers care to the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. Through our Advanced Engagement System, we achieve higher engagement rates with individuals with anxiety, depression, substance use disorder and chronic disease by delivering personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socio-economic, medical and health system barriers that exacerbate the severity of their comorbid illnesses. The company's whole-person approach integrates AI, predictive analytics, comprehensive clinical and claims data, patient-generated information, and digital interfaces with care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors. Forward looking statements Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the Company's ability to access the financing provided by the financing commitment and the potential benefits to the Company of such financing, including that it will support the Company's continued growth and innovation, allow the Company to expand its customer base, accelerate its growth initiatives, enhance its technology platform, and deliver greater value to its customers and stakeholders. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including, without limitation, risks and uncertainties related to the Company's ability to satisfy the conditions to obtaining the financing under the financing commitment, the Company's ability to use the proceeds from the financing to successfully execute its business strategy, and the risks and uncertainties described in the Company's most recent Securities and Exchange Commission filings, including its annual report on Form 10-K for the year ended December 31, 2024, which are available at The forward-looking statements in this press release are based upon the Company's current expectations and involve assumptions that may never materialize or may prove to be incorrect. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Learn more at
Yahoo
20-05-2025
- Business
- Yahoo
Ontrak Secures Financing Commitment to Fuel Growth and Innovation
MIAMI, May 20, 2025--(BUSINESS WIRE)--Ontrak, Inc. (NASDAQ: OTRK), a leading value-based behavioral healthcare company powered by proprietary AI and engagement technology, announced it has secured a $10 million financing commitment from Acuitas Capital, LLC. This financing commitment will support Ontrak's continued growth and innovation in delivering comprehensive behavioral healthcare solutions and is structured to provide Ontrak with the necessary capital to expand its customer base while continuing to drive further advancements in its AI and digital capabilities. The commitment contemplates that Ontrak may raise additional financing from third parties to further support its growth initiatives. Brandon LaVerne, Chief Executive Officer of Ontrak, Inc., expressed enthusiasm about the new financing commitment: "We appreciate the continued support of Acuitas Capital as we advance our mission to transform healthcare. This financing commitment will allow us to accelerate our growth initiatives, enhance our technology platform, and deliver even greater value to our customers and stakeholders." The full text of the agreement with Acuitas Capital, LLC, will be an exhibit to a Current Report on Form 8-K the Company will file with the Securities and Exchange Commission today and is available on the SEC's website or through Ontrak Health's investor relations page. About Ontrak, Inc. Ontrak Health (Nasdaq: OTRK) is a leading value-based behavioral healthcare company powered by proprietary AI and engagement technology, whose mission is to help improve the health and save the lives of as many people as possible. Ontrak uniquely identifies, engages, and delivers care to the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. Through our Advanced Engagement System, we achieve higher engagement rates with individuals with anxiety, depression, substance use disorder and chronic disease by delivering personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socio-economic, medical and health system barriers that exacerbate the severity of their comorbid illnesses. The company's whole-person approach integrates AI, predictive analytics, comprehensive clinical and claims data, patient-generated information, and digital interfaces with care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors. Forward looking statements Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the Company's ability to access the financing provided by the financing commitment and the potential benefits to the Company of such financing, including that it will support the Company's continued growth and innovation, allow the Company to expand its customer base, accelerate its growth initiatives, enhance its technology platform, and deliver greater value to its customers and stakeholders. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including, without limitation, risks and uncertainties related to the Company's ability to satisfy the conditions to obtaining the financing under the financing commitment, the Company's ability to use the proceeds from the financing to successfully execute its business strategy, and the risks and uncertainties described in the Company's most recent Securities and Exchange Commission filings, including its annual report on Form 10-K for the year ended December 31, 2024, which are available at The forward-looking statements in this press release are based upon the Company's current expectations and involve assumptions that may never materialize or may prove to be incorrect. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Learn more at View source version on Contacts Company Contact: Brandon LaVerneChief Executive Officerblaverne@ Investor Relations: Ryan HalstedGilmartin Groupinvestors@ Sign in to access your portfolio
Yahoo
19-05-2025
- Business
- Yahoo
Ontrak Health to Report 2025 First Quarter Financial Results on May 20, 2025
MIAMI, May 19, 2025--(BUSINESS WIRE)--Ontrak Health (NASDAQ: OTRK) ("Ontrak" or the "Company"), a leading AI-powered and telehealth-enabled healthcare company, today announced it will report financial results for the first quarter 2025 on Tuesday, May 20, 2025, after market close. Company management will host a corresponding conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Conference Call & Webcast Details The conference call can be accessed by registering online for dial-in information or via live audio webcast at: . Participants interested in dialing in to the conference call are requested to register a day in advance or at a minimum 15 minutes before the start of the call to obtain a unique pin for the call. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days. About Ontrak Health Ontrak Health (Nasdaq: OTRK) is a leading value-based behavioral healthcare company powered by proprietary AI and engagement technology, whose mission is to help improve the health and save the lives of as many people as possible. Ontrak uniquely identifies, engages, and delivers care to the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. Through our Advanced Engagement System, we achieve higher engagement rates with individuals with anxiety, depression, substance use disorder and chronic disease by delivering personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socio-economic, medical and health system barriers that exacerbate the severity of their comorbid illnesses. The company's whole-person approach integrates AI, predictive analytics, comprehensive clinical and claims data, patient-generated information, and digital interfaces with care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors. View source version on Contacts Investors: Ryan HalstedGilmartin Groupinvestors@
Business Wire
19-05-2025
- Business
- Business Wire
Ontrak Health to Report 2025 First Quarter Financial Results on May 20, 2025
MIAMI--(BUSINESS WIRE)--Ontrak Health (NASDAQ: OTRK) ('Ontrak' or the 'Company'), a leading AI-powered and telehealth-enabled healthcare company, today announced it will report financial results for the first quarter 2025 on Tuesday, May 20, 2025, after market close. Company management will host a corresponding conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Conference Call & Webcast Details The conference call can be accessed by registering online for dial-in information or via live audio webcast at: . Participants interested in dialing in to the conference call are requested to register a day in advance or at a minimum 15 minutes before the start of the call to obtain a unique pin for the call. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days. About Ontrak Health Ontrak Health (Nasdaq: OTRK) is a leading value-based behavioral healthcare company powered by proprietary AI and engagement technology, whose mission is to help improve the health and save the lives of as many people as possible. Ontrak uniquely identifies, engages, and delivers care to the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. Through our Advanced Engagement System, we achieve higher engagement rates with individuals with anxiety, depression, substance use disorder and chronic disease by delivering personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socio-economic, medical and health system barriers that exacerbate the severity of their comorbid illnesses. The company's whole-person approach integrates AI, predictive analytics, comprehensive clinical and claims data, patient-generated information, and digital interfaces with care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors.
Yahoo
15-04-2025
- Business
- Yahoo
Ontrak Inc (OTRK) Q4 2024 Earnings Call Highlights: Navigating Challenges and Seizing Opportunities
Revenue: $3.1 million in Q4, an 11% decrease year-over-year. Gross Margin: 61% in Q4, down from 62% in Q3 2024 and 64.6% in Q4 2023. Operating Cash Flow: Negative $4.3 million in Q4. Cash Reserves: $5.7 million at year-end, down from $9.7 million the previous year. Revenue per Member: Approximately $500 per month, down from $546 in Q4 2023. Membership Enrollment: 1,641 new members in Q4, highest since Q3 2021. Disenrollment Rate: 19% in Q4, compared to 11% in Q3 2024 and 16% in Q4 2023. Q1 2025 Revenue Guidance: Expected to be between $2 million and $2.3 million. Warning! GuruFocus has detected 5 Warning Signs with OTRK. Release Date: April 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ontrak Inc (NASDAQ:OTRK) secured three new regional health plan customers and four health plan expansions in the last 14 months, showcasing the versatility of their offerings. The launch of the WholeHealth+ solution with Intermountain Health is progressing well, with over 325 members enrolled in just over a month. Ontrak Inc (NASDAQ:OTRK) is in late-stage strategic discussions with a large Midwest plan, which could potentially double the company's run rate revenue. The company has been designated as a value-based provider, allowing for greater access to reimbursable fees and reshaping their economic model. Ontrak Inc (NASDAQ:OTRK) has a strong sales pipeline with six active prospects requesting financial and clinical proposals, representing significant potential revenue opportunities. Q4 2024 revenue decreased by 11% compared to the same period last year, primarily due to the loss of a customer. The company anticipates a sequential revenue decrease of 27% to 36% in Q1 2025 due to the lost customer and new customers still in the ramp-up phase. Gross margins decreased slightly to 61% in Q4 2024, with expectations to decrease further into the mid-50s due to current pricing and revenue mix. Operating cash flow for Q4 was negative $4.3 million, a deterioration from the previous quarters. Ontrak Inc (NASDAQ:OTRK) is actively seeking financing options to access capital needed for executing their sales pipeline and business plan. Q: Can you provide an update on the progress with new customer acquisitions and expansions? A: Brandon LaVerne, CEO, stated that Ontrak has secured three new regional health plan customers and four health plan expansions over the past 14 months. This includes a recent launch with Intermountain Health, enrolling over 325 members, and a three-year contract extension with Sentara Health plans. Additionally, strategic discussions are ongoing for further expansions, including potential new offerings for adolescents and chronic pain conditions. Q: What is the status of Ontrak's sales pipeline and potential revenue growth? A: Mary Osborne, President and Chief Commercial Officer, highlighted that Ontrak is in late-stage discussions with a large Midwestern plan, which could double the company's run rate revenue. The company is also in active discussions with six additional health plan prospects and has 20 more in the pipeline, representing over 15 million lives. The company anticipates doubling its revenue in 2025 and again in the following year. Q: How has Ontrak's financial performance been impacted by recent customer changes? A: James Park, CFO, reported a Q4 2024 revenue of $3.1 million, an 11% decrease from the previous year, primarily due to the loss of a customer. However, new customer acquisitions have slightly offset this decline. The company expects overall revenues to increase despite a decrease in per member per month revenue due to newer customers with different pricing structures. Q: What are the expectations for Ontrak's revenue and member enrollment in the near term? A: James Park, CFO, projected Q1 2025 revenue to be between $2 million and $2.3 million, a sequential decrease due to the loss of a customer and ramp-up phases for new customers. However, the company expects to achieve its revenue run rate by Q2 2025, driven by recent launches and member engagement expansions. Q: How is Ontrak positioning itself in the market as a value-based provider? A: Brandon LaVerne, CEO, explained that Ontrak is engaging with payer partners as a value-based provider, aligning quality outcomes with medical cost savings and financial incentives. This shift allows greater access to reimbursable fees and enhances pipeline opportunities, providing payers with more flexibility in working with Ontrak. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
