Contracts with the U.S. Department of Veterans Affairs drove more than $250 million in revenue for Cerner in 2018, The Kansas City Business Journal reports.
Cerner CFO Marc Naughton said that the company expects total bookings revenue from the government contracts to reach $1 billion in 2022, assuming revenue from the contracts continues to increase at this rate.
However, Mr. Naughton noted that bookings revenue won't increase "in a straight line at that ramp rate," as government contracts can be affected by implementation timelines.
In its 2018 fiscal year earnings results posted Feb. 5, Cerner reported $5.4 billion in revenue for the year, up 4 percent from $5.1 billion in 2017.