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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
R1 RCM
R1 RCM (RCM) investor relations material
R1 RCM has been acquired
R1 RCM Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary5 Nov, 2024
Executive summary
Net services revenue rose 15% year-over-year to $656.8 million for Q3 2024, driven by the Acclara acquisition, new customer contracts, and onboarding a major end-to-end partner, partially offset by cyberattack and technology outage impacts.
Net loss for Q3 2024 was $19.9 million, compared to net income of $1.3 million in Q3 2023, reflecting higher costs, vendor and customer outages, and merger-related impacts.
Adjusted EBITDA for Q3 2024 was $148.2 million, down 8% year-over-year.
The company completed the $786 million Acclara acquisition and entered into a take-private merger agreement valued at $14.30 per share.
Financial highlights
Q3 2024 net services revenue: $656.8 million (up 15% year-over-year); nine months: $1,888.6 million (up 12%).
Q3 2024 net loss: $19.9 million; nine months: net loss of $62.6 million.
Q3 2024 Adjusted EBITDA: $148.2 million (down 8% year-over-year); nine months: $456.5 million (up 2%).
Operating expenses increased to $641.0 million from $531.6 million year-over-year.
Cash and cash equivalents at September 30, 2024: $167.3 million; total debt: $2.2 billion.
Outlook and guidance
The pending take-private merger is expected to close by year-end, subject to customary conditions and stockholder approval.
No financial guidance provided due to the proposed acquisition.
Additional costs and revenue impacts from recent cyberattacks and technology outages are expected to affect performance in 2024.
The company anticipates continued investment in technology, global operations, and new business development.
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Latest events from R1 RCM
- Acclara lifted revenue, while cyberattack impacts cut FY24 guidance.RCM
Q1 2024 - FY’23 adjusted EBITDA rose 45.0%; FY’24 guidance includes Acclara and Providence impacts.RCMQ4 2023
- Strong Q1, resilient integration, and stable outlook despite cyber and industry challenges.RCMJefferies Global Healthcare Conference
- Q2 revenue up 12% to $627.9M, net loss widens, and $14.30/share buyout deal announced.RCMQ2 2024
- Generative AI, automation, and data integration drive efficiency, revenue, and patient satisfaction.RCMStatus Update
R1 RCM
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Frequently asked questions
R1 RCM Inc provides revenue cycle management and physician advisory services to healthcare providers. The company offers technology-enabled solutions to optimize financial performance, streamline administrative processes, and improve patient engagement for hospitals and physician groups. The company is headquartered in Murray, Utah, and its shares are listed on the NASDAQ.