Ontrak Inc
NASDAQ:OTRK
Ontrak Inc
Ontrak, Inc. provides data analytics based behavioral health management and integrated treatment services to health plans. The company is headquartered in Santa Monica, California and currently employs 231 full-time employees. The company went IPO on 2002-09-27. The Company’s predict-recommend-engage (PRE) platform organizes and automates healthcare data integration and analytics through the application of machine intelligence to deliver analytic insights. The firm's PRE platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages people who are not getting the care they need. By combining predictive analytics with human engagement, the Company delivers member health and validated outcomes and savings to healthcare payors. Its integrated, technology enabled Ontrak programs, are designed to provide healthcare solutions to members with behavioral conditions that cause or exacerbate chronic medical conditions such as diabetes, hypertension, coronary artery disease, chronic obstructive pulmonary disease, and congestive heart failure.
Ontrak, Inc. provides data analytics based behavioral health management and integrated treatment services to health plans. The company is headquartered in Santa Monica, California and currently employs 231 full-time employees. The company went IPO on 2002-09-27. The Company’s predict-recommend-engage (PRE) platform organizes and automates healthcare data integration and analytics through the application of machine intelligence to deliver analytic insights. The firm's PRE platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages people who are not getting the care they need. By combining predictive analytics with human engagement, the Company delivers member health and validated outcomes and savings to healthcare payors. Its integrated, technology enabled Ontrak programs, are designed to provide healthcare solutions to members with behavioral conditions that cause or exacerbate chronic medical conditions such as diabetes, hypertension, coronary artery disease, chronic obstructive pulmonary disease, and congestive heart failure.
Revenue Decline: Q1 revenue was $2 million, marking a 25% decrease year-over-year due to the loss of a customer at the end of 2024.
Membership Growth: Enrolled members nearly doubled year-over-year to 3,165 at quarter end, with significant growth in the Engage program.
Gross Margin Drop: Gross margin fell to 37%, down from 61% last quarter and 63.6% a year ago, primarily due to customer loss and product mix shift.
Operational Efficiency: The company now serves members with less than half the employees compared to late 2021, thanks to technology and AI-driven productivity gains.
Pipeline & Outlook: Management is optimistic about significant new business, including a potential large Medicaid plan and several other health plan proposals, with revenue guidance for Q2 between $2.2 million and $2.6 million—an 8% to 22% sequential increase.
Financing Update: Ontrak has secured up to $10 million in additional short-term financing to support operations.
