Streamline Health Solutions, Inc. , a leading provider of solutions that enable healthcare providers to proactively address revenue leakage and improve financial performance, today announced financial results for the fourth quarter and fiscal year 2022, which ended January 31, 2023.

Fiscal Fourth Quarter and Full Year 2022 Financial Results

The following financial results have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”). Fiscal 2022 financial results reflect the consolidation of the Company with Avelead Consulting, LLC (“Avelead”), which was acquired in the fiscal third quarter of 2021. Fiscal 2021 GAAP financial results reflect results from Avelead’s operations from the date of acquisition, August 16, 2021.

Total revenues for the fourth quarter of fiscal 2022 were $6.7 million, a 12% increase from $6.0 million during the fourth quarter of fiscal 2021. Fiscal year 2022 revenues were $24.9 million, a 43% increase compared to $17.4 million during fiscal year 2021. The increase in revenue for the quarter was the result of higher SaaS revenue due to increased eValuator client volumes, higher software license revenue and increased professional services revenue from the Avelead business. The increase in revenue for the fiscal year was the result of higher SaaS and professional services revenue primarily attributable to the Avelead acquisition.

The Company is focused on the growth of its SaaS solutions. During the fourth quarter of fiscal 2022, SaaS revenue grew $0.4 million or 15% compared to the fourth quarter of fiscal 2021 and $4.2 million or 53% during the fiscal year ended January 31, 2023, compared to the prior fiscal year.