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Certive Solutions Inc. (C:CBP)

Business Focus: Software

Sector:  Technology Industry:  Software
See Regulatory Filings on SEDAR
Company Contact
Address: Suite 1140 - 1185 West Georgia Street
Tel: N/A
IR: See website
Key People
Business Overview
Certive Solutions Inc. is a technology enabled service provider in the Revenue Cycle Management (RCM) segment of the United States healthcare industry. The Company provides claims audit and recovery solutions. The Company operates its subsidiary Certive Technologies Arizona Inc. (Certive Arizona). Under Certive Arizona there are three operating units, Knowledge Capital Alliance (KCA), Titan Health Management Solutions (Titan) and Omega Technologies Solutions (Omega). Its divisions, Titan and Omega, provide retrospective claim audits against payer contracts, identify underpayments, and rebill and collect revenues for hospital customers. It also specializes in recovering cash for hospitals by auditing charts and comparing them to the medical records to discover items and services performed but never billed to the insurance carriers. Its lines of business include Zero Balance, Billing Support, Early-Out, Clinical Review, Charge Accuracy and Chart Review, and Special Projects.
Financial Overview
For the fiscal year ended 31 May 2020, Certive Solutions Inc revenues increased 27% to $1.4M. Net loss before extraordinary items increased 80% to $2M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Gain from settlement / write-off of debt decrease of 58% to $693K (income), Bank charges and interest increase of 25% to $947K (expense).
Reporting Currency: U.S. Dollars
Enterprise value: $11.91M as of May 31, 2020
Annual revenue (TTM): $1.85M as of May 31, 2020
EBITDA (TTM): -$3.37M as of May 31, 2020
Net annual income (TTM): -$2.62M as of May 31, 2020
Free cash flow (TTM): -$1.80M as of May 31, 2020
Net Debt Last Fiscal Year: $6.34M as of May 31, 2020
Shares outstanding: 139,552,114 as of Aug 25, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization