NXGN - NextGen Healthcare down 5% after slashing fiscal 2023 outlook

• NextGen Healthcare ( NASDAQ: NXGN ) is down 5% in after-hours trading after cutting its revenue and earnings estimates for fiscal year 2023.
• Revenue is now expected to be between $621M and $633M, down from between $628M and $640 million
• Non-GAAP EPS is now projected at $0.92-$0.98, down from $0.95-$1.01.
• Fiscal 2023 revenue consensus is $633.9M, while EPS consensus is $0.97.
• Revenue in FQ1 2023 was $153.3M, a 5% increase from the year-ago period, just beating consensus estimate .
• Non-GAAP EPS of $0.16 compared to $0.25 in FQ1 2023. It was in-line with estimates.
• NextGen ( NXGN ) ended the quarter with ~$40.4M in cash and cash equivalents, a 33% decline from the year-ago period.
• Seeking Alpha's Quant Rating views NextGen ( NXGN ) as a hold with high grades for momentum and profitability .

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