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Premier Inc. (PINC-1.67%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a decrease in net revenue to $240.3 million from $279.9 million in the same quarter the previous year, primarily due to declines in both the Supply Chain Services and Performance Services segments.
Net administrative fees revenue dropped to $131.4 million from $150.5 million, attributed to increased fee share paid to members.
The Performance Services segment saw a decrease in revenue to $91.5 million from $113.6 million, with declines in consulting services and SaaS-based products subscriptions.
Operating expenses increased significantly to $264.0 million from $151.0 million, largely due to a goodwill impairment charge of $126.8 million.
Net loss from continuing operations was reported at $45.8 million, compared to net income of $50.4 million in the previous year.
The company recorded a net loss from discontinued operations of $39.4 million, related to the divestiture of its direct sourcing business.
Cash and cash equivalents at the end of the period were $85.9 million, down from $125.1 million at the beginning of the period.
Premier reported a net cash inflow from operating activities of $193.7 million, with a significant increase from the prior year's $15.5 million.
The company also disclosed a share repurchase program, completing $200 million in market repurchases during the quarter.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Premier Inc. quarterly 10-Q report dated February 4, 2025. To report an error, please email earnings@qz.com.