Sharecare, Inc. (SHCR) stock plummeted 18.33% in the current-market trading session at the price of $2.70 after reporting its earnings report for the fourth quarter and year 2021.
SHCR is the leader in digital health that enables individuals to manage and track their health on one site. The company is devoted to supporting people by making quality care systems more convenient, accessible, and reasonable.
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SHCR Q4 2021 Financial Results
On 31st March 2022, SHCR published its financial results for Q4 and the year ended 31st December 2021 and provided its business updates.
For Q4 of 2021, revenues totaled US$118.5M. It represents a growth of 34%, or US$30.1M, from $88.4M in Q4 of 2020. The company has US$9.5M in net income for Q4 of 2021. Net loss was US$28.7M for the same quarter last year. For Q4 of 2021, adjusted EBITDA was US$5.4M, representing a drop of US$2.4M from US$7.8M in Q4 of 2020. The company has US$0.03 in earnings per share for Q4 of 2021.
SHCR Year 2021 Summary
SHCR calculated revenue of US$412.8M for the year 2021. It represents a growth of 26%, or US$84.0M, from US$328.8M last year. For the year 2021, the net loss was US$85.1M compared to US$60.5M the previous year. The company has a US$0.30 loss per share for 2021.
CEO of SHCR, Jeff Arnold, commented that their growth during 2021 illustrates the implementation of their business strategy. The company has continued making investments to improve and incorporate more credentials into its digital platform. They believe to have a powerful digital-first medium that can expand access to quality care, reduce healthcare expenses, and enhance the healthcare experience.
Mr. Arnold further added that in fiscal 2022, their marketing and sales measures are centered on extensive digital opportunities. They are hopeful that these efforts will accelerate their development in the upcoming years and improve their value. They are confident to deliver revenue growth in fiscal 2022 with a robust balance sheet, Jeff concluded.