Inovalon Reports Second Quarter 2021 Results
Second Quarter 2021 Highlights Q2 revenue of $190.4 million, up 17% YoY and 8% sequentiallyQ2 subscription-based platform revenue of $168.7 million, up 19% YoY and 7% sequentially, equating to 89% of Q2 total revenueQ2 net income of $9.6 million, resulting in diluted net income of $0.06 per shareQ2 Non-GAAP net income of $27.9 million, resulting in Non-GAAP net income of $0.19 per share, up 27% YoYQ2 Adjusted EBITDA of $64.1 million, up 13% YoY and 9% sequentially, resulting in adjusted EBITDA margin of 33.7%Q2 new sales Annual Contract Value (ACV)1 totaled $60.5 million and platform new sales ACV totaled $43.2 million Debt & Cash Highlights Cash balance as of June 30, 2021 totaling $117.
