athenahealth reports 24% revenue growth in Q1

For the first quarter of 2016, Watertown, Mass.-based athenahealth grew its revenue over the previous year's quarter and also reduced its total net loss for the quarter.

The health IT vendor reported $256.1 million in revenue for the three months ended March 31, a 24 percent increase from the $206.4 million in revenue reported for the same time period last year.

Additionally, athenahealth reported a net loss of about $800,000 in the first quarter of 2016, compared to a net loss of $8.8 million in the previous year’s quarter.

"athenahealth's first quarter performance indicates that we are executing as planned against our growth and innovation goals for 2016," said Kristi Matus, chief financial and administrative officer of athenahealth, in an earnings statement. "For example, we added 2,742 providers to our network, grew consolidated revenue by 24%, and continued to execute on extending our suite of network-enabled services into the inpatient setting."

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