MEDecision has reported an increase in total revenues and a slight uptick in net losses for the first quarter of 2008, which ended March 31.
For the quarter, the Wayne, Pa.-based company reported total revenues of $10.8 million for the first quarter of 2008, a 9.6 percent increase compared to $9.8 million for the year-ago quarter. The revenue by category for quarter was as follows: Subscription, maintenance and transactions fees of $6.9 million; term license revenue of $300,000 and professional services revenue of $3.6 million.
Total operating expenses for the first quarter 2008 were $7.9 million, resulting in a loss from operations of $2.4 million, compared to $7.9 million in total operating expenses in the first quarter of 2007, resulting in a loss from operations of $2.5 million.
For the three months ended March 31, the company reported a net loss to common shareholders of $2.51 million. Net loss available to common shareholders for the three-month period last year was $2.5 million.
MEDecision also booked a net loss from operation of $2.43 million for the quarter, compared to a net loss from operation of $2.55 million in the same quarter last year.
During the first quarter, MEDecision introduced Alineo Clinical Programs and Alineo Care Management Analytics, which are new components of the recently released Alineo collaborative healthcare management platform.
“Now that we successfully launched Alineo and after spending most of last year developing this simple, smart, state-of-the-art solution, our focus as a company now turns to strengthening and streamlining certain key functions that will determine the future of our Alineo and Nexalign solutions and our ability to capitalize on the significant collaborative healthcare market opportunities,” said David St.Clair, founder and CEO of MEDecision. “We still have work to do, but we are well on our way to improving our internal organization and fundamentally transforming how we approach clients, particularly after bringing in the seasoned professionals that we announced over the last couple of weeks.”