athenahealth reports 26% revenue growth in Q3

In the company's third quarter financial results, athenahealth reported 26 percent revenue growth over the third quarter of 2013.

In the three months ended Sept. 30, athenahealth brought in a total of $190.4 million, compared with $151.5 million during the same period last year. Despite increased revenue, the company experienced a GAAP net loss of $1.6 million, or $0.04 per diluted share, in the third quarter of this year.

The revenue growth came mostly from athenahealth-branded products. Total revenue for these offerings was $175.6 million during the last quarter, compared with $134.3 million during the same period last year. Revenue from Epocrates-branded services was down from the third quarter last year, $9.8 million compared with $13.4 million.

Chairman and CEO Jonathan Bush said athenahealth's third quarter results, combined with the company's growing client base and recent expansions, show a positive trajectory for athenahealth. "We continued to see strong momentum across the business in the third quarter, with record physician additions, the opening of two extraordinary offices in Atlanta and San Francisco, the launch of a brand new user experience across our client base and industry-leading meaningful use stage 2 attestation results," said Mr. Bush. "As we prepare for the next wave of growth, we are intently focused on achieving the ambitious goals we laid out for 2014, as well as refining our 2015 roadmap and priorities."

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