Allscripts' revenue up 17% in 2018: 5 things to know

Allscripts released earnings results for its 2018 fiscal year on Feb. 21, posting a 17 percent rise in revenue.

Five things to know about the Chicago-based EHR vendor's financial performance:

1. Allscripts posted $1.75 billion in revenue for the year, up 17 percent from $1.5 billion in 2017.

2. Software delivery, support and maintenance accounted for most of the company's revenue in 2018 at $1.13 billion, up 18 percent from 2017. Allscripts attributed its remaining 2018 revenue ($621.7 million) to client services.

3. Allscripts posted $266.4 million in non-GAAP — or generally accepted accounting principles — operating income, up less than 1 percent from $266.2 million in 2017.

4. The company said its total principal debt outstanding was reduced to $696 million after it sold its interests in Netsmart. Allscripts closed the sale of its stake in Netsmart, a developer of behavioral health, human services and post-acute care technologies, in December 2018.

5. Allscripts expects its non-GAAP revenue for the first quarter of its 2019 fiscal year to be in the range of $430 million and $440 million. In 2018, the company posted $519 million in non-GAAP revenue for the first quarter.

"We successfully sold our interests in Netsmart for a significant gain and believe we have positioned Allscripts with the most robust and diversified solutions portfolio in the industry," Allscripts CEO Paul M. Black said in a news release. "Looking ahead, we believe we will continue to benefit from organic growth in the provider end markets as well as double-digit growth from our Veradigm platform, while our strong balance sheet provides us flexibility for balanced capital deployment."

Allscripts rebranded its payer and life sciences division under the name "Veradigm" in late 2018.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars