Streamline Health Solutions Reports $4.81 Million Revenue with 11% Growth and Strategic Restructuring

Streamline Health Solutions, Inc. reported a total revenue of $4.81 million for the three months ended April 30, 2025, marking an increase of 11% from $4.33 million in the same period last year. The growth was primarily driven by a 23% rise in Software as a Service (SaaS) revenue, which reached $3.36 million, up from $2.72 million. However, revenue from maintenance and support services decreased by 17% to $737,000, while professional fees and licenses remained relatively stable at $714,000. The company recorded a net loss of $1.65 million, an improvement from a net loss of $2.74 million in the prior year, resulting in a basic and diluted loss per share of $0.40 compared to $0.71.

In terms of operational changes, Streamline Health Solutions has undergone a strategic restructuring, which included a reduction of approximately 24% of its workforce, resulting in one-time restructuring costs of $759,000. The company has also focused on enhancing its SaaS offerings, particularly the eValuator and RevID products, which contributed to the increase in SaaS revenue. The company anticipates that maintenance and support revenue will continue to decline due to expected contract non-renewals and limited new sales.

As of April 30, 2025, Streamline Health Solutions reported total assets of $35.83 million, a slight increase from $35.58 million at the end of January 2025. Current liabilities rose to $24.66 million from $23.06 million, primarily due to an increase in deferred revenues and a line of credit. The company’s total stockholders’ equity decreased to $11.06 million from $12.28 million, reflecting the ongoing net losses. The company’s cash and cash equivalents stood at $1.45 million, down from $2.18 million at the end of January 2025.

Looking ahead, Streamline Health Solutions has entered into a merger agreement with Mist Holding Co., which is expected to close in the future, subject to customary conditions. The merger will result in Streamline becoming a wholly owned subsidiary of Mist Holding. The company has expressed concerns regarding its ability to continue as a going concern, citing the need for additional liquidity and the potential inability to maintain compliance with certain financial covenants in the next twelve months. The company is actively seeking to improve its financial position and operational efficiency while navigating the challenges posed by the current market conditions.