Birner Dental Management Services reported the following financial results for the second quarter of 2017.
Here are seven things to know:
1. The company's revenue decreased $1.1 million to $14.8 million.
2. Birner Dental Management's adjusted EBITDA fell 118 percent to $145,000.
3. Net losses totaled $901,000, up from $230,000 losses the same quarter of 2016.
4. For the second quarter, Birner Dental Management's net losses per share were $0.48.
5. The company's revenue for the six months ending June 30 decreased $1.9 million.
6. For the first six months of 2017, the company's adjusted EBITDA fell 65.3 percent to $1.2 million.
7. While the company had a decline of dentists within its network between March 31, 2016, and June 30, 2017, this shift may be changing. The company had:
• 112 dentists in its network as of March 31, 2016
• 98 dentists in its network as of December 31, 2016
• 99 dentists in its network at the end of June 30, 2017
• 105 dentists in its network at the end of July 31, 2017
The company expects its revenue and adjusted EBITDA to increase with more dentists joining its network.
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Here are seven things to know:
1. The company's revenue decreased $1.1 million to $14.8 million.
2. Birner Dental Management's adjusted EBITDA fell 118 percent to $145,000.
3. Net losses totaled $901,000, up from $230,000 losses the same quarter of 2016.
4. For the second quarter, Birner Dental Management's net losses per share were $0.48.
5. The company's revenue for the six months ending June 30 decreased $1.9 million.
6. For the first six months of 2017, the company's adjusted EBITDA fell 65.3 percent to $1.2 million.
7. While the company had a decline of dentists within its network between March 31, 2016, and June 30, 2017, this shift may be changing. The company had:
• 112 dentists in its network as of March 31, 2016
• 98 dentists in its network as of December 31, 2016
• 99 dentists in its network at the end of June 30, 2017
• 105 dentists in its network at the end of July 31, 2017
The company expects its revenue and adjusted EBITDA to increase with more dentists joining its network.
More dental news:
Henry Schein authorizes $400M in repurchase stock plan: 5 things to know
Dentists are increasingly eyeing DSOs — Here's why
Insurance commissioner fines Dental Health Services $300k