TRHC - Tabula Rasa HealthCare stock gains postmarket on raised Q2 revenue guidance

• Tabula Rasa HealthCare ( NASDAQ: TRHC ) stock rose 8.9% postmarket on Wednesday after the firm said it expects to report Q2 revenue above Street estimates, helped by increased demand for TRHC's core offering.
• Q2 revenue from continuing operations is projected to be $72M–$73M vs. consensus estimate of $67.55M. TRHC's prior guidance was $66M–$69M.
• TRHC will report Q2 financial results in early Aug.
• The company also responded to statements made by its largest shareholder Indaba Capital Management on Tuesday, calling for management changes and board rejig .
• "The board and management have spoken with Indaba on multiple occasions since their initial investment in TRHC in Apr. to understand their point of view, and we expect to continue our dialogue with them and other stockholders as part of our normal investor relations process," said Gordon Tunstall, TRHC's lead independent director.
• Shares of TRHC have declined 83.4% YTD.

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