R1 RCM reported revenues of $627.9 million in the second quarter, up $67.2 million (12%) over the same period last year, according to financial results published Aug. 7.
The revenue cycle management company posted $29.1 million in operating income for the period, compared to $23.9 million in the same quarter in 2023. Net loss for the second quarter was $7.6 million, compared to a $1 million net loss in the prior-year period.
Adjusted EBITDA hit $156.1 million, up from $142.9 million.
The company said the quarter reflects impacts to both revenue and costs because of recent vendor and customer outages.
"Our second-quarter results reflect the strength of R1s technology platform, our focus on delivering excellent customer results, and our ability to execute on our growth strategy while navigating industry and customer specific events," CEO Lee Rivas said. "R1 remains committed to executing against our technology roadmap while leveraging our global scale to drive increased value for our customers and partners."
Private equity firms TowerBrook Capital Partners and Clayton, Dubilier & Rice plan to acquire R1 RCM in a deal valued at $8.9 billion this year.