OTRK - Ontrak down 24% after hours as quarterly results miss on top and bottom lines

Shares of Ontrak (NASDAQ:OTRK) have plummeted 24% as the artificial intelligence-assisted behavioral health company's Q4 2021 results missed on both the top and bottom lines. Net loss for the quarter was ~$20.1M (-$1.12 per share, basic and diluted) compared to a ~$3.2M loss (-$0.27 per share) in the prior-year period. Revenue of $10.3M in the quarter was a ~65% year-over-year decline. For 2022, Ontrak (OTRK) is projecting revenue of $25M-$30M. Read why Seeking Alpha contributor Charen Investment Research considers Ontrak (OTRK) a hold.

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Ontrak down 24% after hours as quarterly results miss on top and bottom lines