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Ontrak (OTRK) investor relations material
Ontrak SEO filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Company overview and business model
Operates a value-based behavioral healthcare platform using analytics and human engagement to improve outcomes and reduce costs for payors.
Focuses on members with behavioral conditions that exacerbate chronic medical issues, contracting with national and regional health plans.
Revenue is generated from commercial and government-funded health insurance programs.
Recent customer loss: a health plan representing 59% of 2024 revenue will not renew after December 2024.
As of June 2025, has five late-stage sales prospects and 20 additional prospects, but no firm commitments.
Financial performance and metrics
As of March 31, 2025, total cash was $4.1 million with negative working capital of $3.1 million.
Average monthly cash burn rate from operations was $0.9 million for Q1 2025.
$15.8 million outstanding under the Keep Well Agreement as of May 31, 2025, with $13.0 million payable after September 1, 2026 or earlier under certain conditions.
Substantial doubt exists about ability to continue as a going concern; additional capital will be needed even after this offering.
Use of proceeds and capital allocation
Estimated net proceeds of $6.0 million (assuming full sale at $1.50 per share and no pre-funded warrants), to be used for working capital and general corporate purposes.
Proceeds may be required to pay down $5.0 million of August Demand Notes unless a new agreement is reached.
Management has broad discretion over use of proceeds; funds may be invested in short-term, investment-grade instruments pending use.
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