NextGen Healthcare Shares Up 8% Since Q3 Announcement

NextGen Healthcare (NASDAQ:NXGN) shares rose more than 8% since the company’s reported Q3 results on Tuesday. EPS came in at $0.26, worse than the Street estimate of $0.27. Revenue was $161.9 million (up 8.1% year-over-year), compared to the Street estimate of $161.58 million.

Recurring revenue grew 10.6% year-over-year on increased subscriptions and higher patient volumes slowly recovering from Covid. Non-recurring revenue declined 13.6% in Q3 on continued lumpiness in the software and hardware business and lower-than-expected software license bookings in the quarter.

Total bookings came in at $44.8 billion (up 19%) on rising client demand for surround solutions with approximately 30% contributed by new clients.