INOV - Inovalon stock higher on expecting Q4 revenue above consensus

Inovalon ([[INOV]] +6.7%) expects Q4 total revenue of $189M-$190M, +9% Y/Y and +17% Q/Q and vs. consensus of $181.43M.Subscription-based platform revenue to grow 14% Y/Y and +15% Q/Q to $163M-$163.5M. Income before taxes +234% Y/Y and +800% Q/Q to $17M-$19M.Adjusted EBITDA of $67M-$69M, resulting in Adjusted EBITDA margin of 35.4%-36.3%.Total new sales Annual Contract Value ((ACV)) totaled $93.5M, up 27% Y/Y and +60% Q/Q.Cash balance as of December 31, 2020 was $123.9M. The company reaffirms previously announced revenue and profit guidance for FY2021.

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Inovalon stock higher on expecting Q4 revenue above consensus