Mar 18, 2025 4:17 PM Eastern Daylight Time-
Veradigm Files Fiscal 2022 Form 10-K and Restated Financial Statements
6 replies (most recent on top)
Hot news off the press… SEC closes its Veradigm investigation with no enforcement action!
And how does this happen??
https://investor.veradigm.com/node/25701/html
I totally agree with last post but an entire leadership structure made up of people who were/are absolutely clueless in all aspects of software development and technical knowledge. This was how it was when I started there over well over 15 years ago. Never looked back after I said Bye Bye.
So sad. It was a GREAT company at one time with loyal and dedicated employees who loved their work and enjoyed working g together. The company was ruined years ago by selfish “leaders” who only cared about themselves and their stock holdings.
Thank you for posting. "The higher net attrition" effecting core. Coin flip? More client attrition than new logos being signed? More employee "quiting" than being hired? Equal parts of "net attrition" .. anyway it's lipstick on this pig, its done for. Hats off to the alumni of the leadership circus. You are well respected . NOT:)
From Histalk last week about earnings call…
From the Veradigm earnings call following release of its FY2022 financials:
The financial impact of the internal control failures was $239 million in asset reduction and $46 million in fees.
Revenue increased 4% in 2021, 3% in 2023 and was down 1% in 2024, with the latter falling short of estimates. The company expects 2025 revenue to be flat.
The company doesn’t expect to get current on its financial reporting until 2026.
Higher net attrition is affecting the core provider business, such as EHR and RCM, and net sales were lower in 2024. Life sciences was also soft outside of the company’s real-world evidence business.
ScienceIO, which Veradigm bought February 2024 for $140 million, generated no revenue in 2024. Interim CEO Tom Langan spoke vaguely in the call that its AI expertise would be incorporated into its other business lines, but he offered no revenue-generating use cases. The company also used a lot of AI buzzwords and observed that the AI market is moving fast, which might suggest that competitors are moving faster.
We're any stock holders/banks or investment firms on the call? Was there a call? Any questions asked by anyone? "Unaudited" another way of saying " we have no clue what the actual numbers are,should be"?