OTRK - Ontrak gains in premarket after setting guidance ahead of consensus

Announcing its Q4 2020 financial results, Ontrak (OTRK) has reiterated its previously issued 2021 revenue guidance of $100M.With the projection beating the current consensus, the stock has climbed in pre-market with a ~9.9% gain so far.Recording $2.2M as adjusted EBITDA compared to negative ~$4.6M in the previous year, the company has for the first time witnessed positive quarterly adjusted EBITDA.With revenue rising ~136.0% YoY for the full year to reach $82.8M, the cash and equivalents have surged ~538.6% from the previous year to reach $86.9M as of 2020 year-end.“While we are extremely disappointed by the upcoming loss of our Ontrak-A contract in June 2021, we are focused on the growth opportunities ahead of us with existing and new customers," noted Terren Peizer, the Chairman and CEO.This month, the shares have lost more than 50% in value since it announced the loss of the largest customer with effect from June 2021.

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Ontrak gains in premarket after setting guidance ahead of consensus