Ontrak Has Been Notified By A Health Plan Customer That They Will Not Continue Using The Co's Services After Feb 2024, Decision Not Expected To Have A Significant Negative Impact On Revenue
Portfolio Pulse from Benzinga Newsdesk
Ontrak, Inc. has been informed by a health plan customer that they will cease using the company's services after February 2024. This customer accounted for 32% of Ontrak's revenue for the first half of 2023. However, Ontrak does not anticipate a significant negative impact on its revenue due to this decision. The company has four active prospects, including one existing customer considering expanding utilization of their services.
October 16, 2023 | 12:14 pm
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NEUTRAL IMPACT
Ontrak's revenue may be impacted by a customer's decision to stop using their services after February 2024. However, the company does not expect a significant negative impact and has potential growth opportunities with four active prospects.
The customer that intends to stop using Ontrak's services accounted for 32% of the company's revenue for the first half of 2023. This could potentially impact Ontrak's revenue. However, the company does not expect a significant negative impact and is optimistic about its growth opportunities with four active prospects, including one existing customer considering expanding utilization of their services.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100