Performant Healthcare, Inc. (Nasdaq: PHLT) has reported its financial results for the first quarter ended March 31, 2025. The company announced a total revenue of $33.3 million, marking an increase from the previous year's $27.3 million. The healthcare revenue saw a significant rise to $33.2 million from $25.8 million in the prior year period, reflecting a growth of approximately 29%. The net loss for the first quarter was reported at $0.1 million, a notable improvement from the net loss of $4.0 million during the same period last year. Adjusted EBITDA also showed positive growth, reaching $3.3 million compared to a negative $1.2 million in the prior year period. Additionally, adjusted net income was $1.2 million, or $0.02 per share on a diluted basis, which contrasts with the adjusted net loss of $3.0 million, or $(0.04) per diluted share, in the previous year. CEO Simeon Kohl highlighted the company's robust performance and demand for its services, particularly from commercial clients. Performant implemented 13 commercial programs in the first quarter, projected to contribute between $4.5 million and $5.0 million in annualized revenue at steady state. The company has increased its guidance for the year, expecting healthcare revenues to range between $133 million and $135 million, with adjusted EBITDA projected between $9 million and $10 million.