Streamline Health Solutions, Inc., provider of the Looking Glass platform of integrated solutions and analytics supporting revenue cycle optimization for healthcare enterprises in the new value-based world, announced financial results for the first quarter of fiscal 2016, which ended April 30, 2016.

Revenues for the three-month period ended April 30 2016 increased approximately 8% to $6.7 million over the April 30, 2015 quarter revenue of $6.2 million.  Recurring revenue comprised 86% of total revenue in the quarter.  Adjusted EBITDA for the first quarter 2016 was $600,000, up appreciably from a negative $(1.3) million in first quarter of 2015. Net loss for the first quarter was $1.5 million, improved from a $1.9 million net loss in the same period a year ago.

"Our first quarter financial performance was as expected, with modest revenue growth over same quarter a year ago, and positive Adjusted EBITDA contribution of $600,000," stated David Sides, President and Chief Executive Officer, Streamline Health.  "We had previously communicated that our bookings in Q1 would not be what we expect going forward, and that was, in fact, the case. However, our significant investment in, and renewed focus on, sales and marketing is already generating results.  Our bookings in the first five weeks of the second quarter are already in excess of our first quarter bookings, and I am confident that our performance will improve throughout the remainder of this year based on the activity we are experiencing in all four channels of sales: current clients; new clients; resellers and key strategic partners."

Highlights for the first quarter ended April 30, 2016 included:

• Revenue for the first quarter 2016 was $6.7 million;

• Adjusted EBITDA for the first quarter 2016 was $0.6 million;

• Net loss for the first quarter 2016 was $1.5 million;

• New sales bookings for the quarter were $0.5 million; and

• Backlog at the end of the quarter was $62.7 million.