Athenahealth revenue up 17% but ends Q2 with $1.9M net loss

For the second quarter of 2016, Watertown, Mass.-based athenahealth reported year-over-year revenue growth, but posted an overall $1.9 million loss, a downturn from last year's second quarter $9.3 million profit.

This quarter's $261.9 million in revenue is a 17 percent growth from the $224.7 million in revenue during the same quarter last year. Revenue for the six months ended June 30 was $518.1 million, up 20 percent from last year's $431.1 million during the same period.

The number of new physicians and providers using athenahealth's platforms remained relatively stagnant year-over-year.

Karl Stubelis, CFO, said the company is optimistic about meeting 2016 goals and landing at or above the midpoint of fiscal year 2016 guidance ranges. The guidance range for the fiscal year ending Dec. 31, 2016 notes total revenue falling between $1.085 billion and $1.115 billion.

More articles on athenahealth:

Athenahealth COO Ed Park to step down
Athenahealth to renovate, expand campus 
Athenahealth partners with YMCA to curb diabetes 

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