NextGen Healthcare (NYSE:NXGN) Q1 2020 Earnings Conference Call - Final Transcript
Jul 24, 2019 • 05:00 pm ET
Additionally, on the revenue line, one of our larger client bookings from last year has run into challenges. As we moved into this year, we expected to see that turn into recurring revenue. Unfortunately, the client has had significant operational and financial troubles and we no longer expect to see revenue from this client, putting further pressure on our FY '20 full-year top line. Jamie will dive deeper into the impacts in a few minutes.
As for EPS, our $0.16 came in line with our expectations and should increase nicely through the year, as the benefit of both revenue growth and our focus on efficiency enable increased earnings production. Legacy maintenance retention came in at 89% over the trailing 12 months or right there at FY '20 modeled level. As we stated on the last call, we anticipate some volatility in the retention rate as we move forward and believe our modeled level as appropriate.
As we look at Q1 deal flow, 14 clients entered into arrangements over $500,000 in the quarter. These larger deals continue to show how our broader platform and all-in deal approach are driving increased deal sizes and how our cross-sell capabilities continue to support our bookings growth.
As we look into the accomplishments since the last earnings call, a number of key achievements and events stand out. From a client satisfaction standpoint, we are very gratified to once again be recognized by KLAS. In February, we were awarded Best in KLAS for project management for 11 to 75 providers. Just recently, KLAS updated their analysis announcing that NextGen now has the top scores across all ambulatory organizations greater than 11 providers. In fact, 50% of our large practice clients with greater than 75 providers reporting high satisfaction, the most among all measured vendors. We are very proud of this accomplishment, but are by no means resting on our laurels.
In addition, we recently received the results of our internal voice of client scores for our Enterprise Financial Services Solutions, which primarily include our revenue cycle management business. We've completely reinvented and replatformed this part of NextGen, a path that has great benefit, as well as some risk during the transition. As we emerge from this significant change, we are very proud to see amazingly positive feedback from our clients. Our net promoter score for NextGen Enterprise Financial Services rose 33 points from a year ago, up to 46.3. In fact, 90% of our clients responded that they are likely to recommend our services. Great to see the progress and the resulting client satisfaction increases.
In June, we had our large client user group. We get together with 100 to 150 of our largest clients twice a year to discuss market dynamics, our strategic response and to get feedback on how we are performing for them. It was great to get both a good bit of positive feedback, but also to identify some key needs that span our clients and discuss some areas where we can