NextGen Healthcare (NYSE:NXGN) Q1 2020 Earnings Conference Call Transcript
Jul 24, 2019 • 05:00 pm ET
Welcome to the NextGen Healthcare Fiscal 2020 First Quarter Results Conference Call. Hosting the call today from NextGen are Rusty Frantz, President and Chief Executive Officer; and Jamie Arnold, Chief Financial Officer.
Before we start, I would like to remind everyone that the comments made on this call may include statements that are forward-looking within the meaning of the federal securities laws, including and without limitations, statements relating to anticipated industry trends, the Company's plans, future performance, products and perspectives and strategies. Risks and uncertainties exist that may cause results to differ materially from those expressed in these forward-looking statements, including among others, those risks set forth in the Company's public filings with the US Securities and Exchange Commission, including the discussion under the heading Risk Factors in the Company's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q. Any forward-looking statements speak only as of today. The Company expressly disclaims any intent or obligation to update these forward-looking statements.
Our remarks on today's call include both our earnings results and guidance, which contains certain non-GAAP financial measures. For our earnings results, the GAAP financial measures most directly comparable to each non-GAAP financial measure used or discussed and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measures can be found within our latest quarterly earnings press release that was filed with the SEC and is posted to the Investors section of our website. This release also provides qualitative descriptions of how we have calculated non-GAAP financial measures contained in our guidance.
At this time, I would like to turn the call over to Mr. Rusty Frantz, President and CEO of NextGen. Sir, you may begin.
Thank you, operator and thank you to everyone for joining us this afternoon to review NextGen Healthcare's fiscal first quarter of FY '20. However, before I do, I would like to welcome Jamie Arnold back to the earnings call.
As I said on the last call, Jamie had been hospitalized and discharged to a rehab facility. From what was a scary moment for all of us only eight weeks ago to now, I can only say that I am so grateful, both personally and professionally to have Jamie back at full speed.
Turning now to NextGen, in Q1, our revenue came in at $131.9 million compared to $133.2 million a year ago, and our non-GAAP of $0.016 compared to $0.19. Bookings for the quarter came in nicely at $31.7 million versus $29.1 million in the same-quarter last year. Operating cash flow for the quarter was $17 million and NextGen generated $9 million in free cash flow, as our cash generation capabilities continue to expand our storehouse of dry powder. While we're excited to see a 9% year-over-year uplift on bookings performance in line with our expectations, we are seeing our recognizable perpetual bookings becoming a smaller than expected percentage of the overall bookings, which is having an impact on full-year revenue.