$PHLT
Performant Healthcare Inc Stock $phlt

$phlt Overview Financials Valuation SEC Filings Company Website

2016 Q4 Form 10-Q Financial Statement

#000162828016021025 Filed on November 08, 2016

Income Statement

Concept	2016 Q4	2016 Q3	2015 Q4
Revenue	$33.81M	$31.20M	$41.05M
YoY Change	-17.64%	-18.99%	3.4%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$18.76M	$18.71M	$20.48M
YoY Change	-8.4%	-13.9%	-8.73%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$3.280M	$2.400M	$3.040M
YoY Change	7.89%	4.35%	-10.32%
% of Gross Profit
Operating Expenses	$33.34M	$31.02M	$36.28M
YoY Change	-8.1%	-13.41%	-10.57%
Operating Profit		$174.0K
YoY Change		-93.51%
Interest Expense	-$1.760M	$1.863M	-$2.090M
YoY Change	-15.79%	-12.82%	-13.28%
% of Operating Profit		1070.69%
Other Income/Expense, Net
YoY Change
Pretax Income	-$16.73M	-$1.689M	$2.690M
YoY Change	-721.93%	-410.48%	-182.01%
Income Tax	-$4.430M	-$974.0K	$490.0K
% Of Pretax Income			18.22%
Net Earnings	-$12.30M	-$715.0K	$2.200M
YoY Change	-659.09%	127.71%	-192.44%
Net Earnings / Revenue	-36.38%	-2.29%	5.36%
Basic Earnings Per Share		-$0.01
Diluted Earnings Per Share	-$244.9K	-$0.01	$44.46K
COMMON SHARES
Basic Shares Outstanding	50.23M shares	50.20M shares	49.48M shares
Diluted Shares Outstanding		50.20M shares

Balance Sheet

Concept	2016 Q4	2016 Q3	2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$33.00M	$48.30M	$71.20M
YoY Change	-53.65%	-38.31%	-11.33%
Cash & Equivalents	$32.98M	$48.30M	$71.18M
Short-Term Investments
Other Short-Term Assets	$25.50M	$28.10M	$20.10M
YoY Change	26.87%	35.75%	-5.19%
Inventory
Prepaid Expenses
Receivables	$11.50M	$10.30M	$18.00M
Other Receivables	$2.000M	$700.0K	$0.00
Total Short-Term Assets	$72.01M	$87.39M	$109.3M
YoY Change	-34.09%	-22.95%	-9.63%
LONG-TERM ASSETS
Property, Plant & Equipment	$23.74M	$23.74M	$25.52M
YoY Change	-6.98%	-7.24%	-7.71%
Goodwill	$82.52M	$82.52M	$82.52M
YoY Change	0.0%	0.0%	0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$900.0K	$200.0K	$200.0K
YoY Change	350.0%	-86.67%	-92.59%
Total Long-Term Assets	$113.1M	$128.7M	$133.3M
YoY Change	-15.17%	-5.12%	-6.09%
TOTAL ASSETS
Total Short-Term Assets	$72.01M	$87.39M	$109.3M
Total Long-Term Assets	$113.1M	$128.7M	$133.3M
Total Assets	$185.1M	$216.1M	$242.5M
YoY Change	-23.69%	-13.24%	-7.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$628.0K	$1.081M	$929.0K
YoY Change	-32.4%	-56.9%	-32.19%
Accrued Expenses	$4.300M	$8.500M	$4.800M
YoY Change	-10.42%	10.39%	-11.11%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$9.700M	$12.40M	$8.000M
YoY Change	21.25%	36.26%	-18.37%
Total Short-Term Liabilities	$51.47M	$57.98M	$53.72M
YoY Change	-4.18%	-0.77%	-3.66%
LONG-TERM LIABILITIES
Long-Term Debt	$43.90M	$51.00M	$84.10M
YoY Change	-47.8%	-41.71%	-17.55%
Other Long-Term Liabilities	$2.356M	$1.776M	$2.006M
YoY Change	17.45%	-31.69%	-11.2%
Total Long-Term Liabilities	$98.83M	$1.776M	$148.7M
YoY Change	-33.53%	-98.88%	-13.38%
TOTAL LIABILITIES
Total Short-Term Liabilities	$51.47M	$57.98M	$53.72M
Total Long-Term Liabilities	$98.83M	$1.776M	$148.7M
Total Liabilities	$98.83M	$118.7M	$148.7M
YoY Change	-33.53%	-45.36%	-34.62%
SHAREHOLDERS EQUITY
Retained Earnings	$20.59M	$32.89M	$32.04M
YoY Change	-35.74%	10.17%	-5.3%
Common Stock	$65.66M	$64.46M	$61.81M
YoY Change	6.22%	6.84%	7.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$86.25M	$97.34M	$93.86M
YoY Change
Total Liabilities & Shareholders Equity	$185.1M	$216.1M	$242.5M
YoY Change	-23.69%	-13.24%	-7.72%

Cashflow Statement

Concept	2016 Q4	2016 Q3	2015 Q4
OPERATING ACTIVITIES
Net Income	-$12.30M	-$715.0K	$2.200M
YoY Change	-659.09%	127.71%	-192.44%
Depreciation, Depletion And Amortization	$3.280M	$2.400M	$3.040M
YoY Change	7.89%	4.35%	-10.32%
Cash From Operating Activities	-$2.710M	-$160.0K	-$2.840M
YoY Change	-4.58%	-102.31%	-244.9%
INVESTING ACTIVITIES
Capital Expenditures	-$2.340M	-$1.880M	-$2.260M
YoY Change	3.54%	-3.09%	-34.11%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$0.00	$0.00
YoY Change		-100.0%
Cash From Investing Activities	-$2.340M	-$1.880M	-$2.270M
YoY Change	3.08%	184.85%	-33.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-2.770M	-2.840M	-2.020M
YoY Change	37.13%	-29.53%	-37.07%
NET CHANGE
Cash From Operating Activities	-2.710M	-160.0K	-2.840M
Cash From Investing Activities	-2.340M	-1.880M	-2.270M
Cash From Financing Activities	-2.770M	-2.840M	-2.020M
Net Change In Cash	-7.820M	-4.880M	-7.130M
YoY Change	9.68%	-318.83%	52.35%
FREE CASH FLOW
Cash From Operating Activities	-$2.710M	-$160.0K	-$2.840M
Capital Expenditures	-$2.340M	-$1.880M	-$2.260M
Free Cash Flow	-$370.0K	$1.720M	-$580.0K
YoY Change	-36.21%	-80.59%	-110.76%

Facts In Submission

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	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
	dei	Document Period End Date DocumentPeriodEndDate	2016-09-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0001550695
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	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	Performant Financial Corporation
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CY2016Q3	pfmt	Estimated Liability EstimatedLiability	0	USD
	pfmt	Estimated Liability For Appeals EstimatedLiabilityForAppeals	318000	USD
	pfmt	Estimated Liability For Appeals EstimatedLiabilityForAppeals	438000	USD
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	pfmt	Excess Tax Benefit Shortfallfrom Sharebased Compensation Financing Activities ExcessTaxBenefitShortfallfromSharebasedCompensationFinancingActivities	103000	USD
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CY2016Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	0	USD
CY2016Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	0	USD
CY2016Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	51223000	USD
CY2016Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	3959000	USD
CY2016Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	9769000	USD
CY2015Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	84144000	USD
CY2016Q3	us-gaap	Long Term Notes Payable LongTermNotesPayable	50955000	USD
CY2016Q3	us-gaap	Loss Contingency Estimate Of Possible Loss LossContingencyEstimateOfPossibleLoss	5400000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-16671000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-37866000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-4363000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-5529000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	19013000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	20491000	USD
CY2015Q3	us-gaap	Net Income Loss NetIncomeLoss	-314000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-3990000	USD
CY2016Q3	us-gaap	Net Income Loss NetIncomeLoss	-715000	USD
	us-gaap	Net Income Loss NetIncomeLoss	842000	USD
CY2015Q4	us-gaap	Notes Payable Current NotesPayableCurrent	7998000	USD
CY2016Q3	us-gaap	Notes Payable Current NotesPayableCurrent	12422000	USD
CY2016Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	174000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	7040000	USD
CY2016Q3	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	5363000	USD
CY2016Q3	us-gaap	Operating Leases Future Minimum Payments Due In Five Years OperatingLeasesFutureMinimumPaymentsDueInFiveYears	847000	USD
CY2016Q3	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	890000	USD
CY2016Q3	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	964000	USD
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	segment
CY2015Q3	us-gaap	Operating Expenses OperatingExpenses	35825000	USD
	us-gaap	Operating Expenses OperatingExpenses	116396000	USD
CY2016Q3	us-gaap	Operating Expenses OperatingExpenses	31021000	USD
	us-gaap	Operating Expenses OperatingExpenses	100508000	USD
CY2015Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	2681000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	1931000	USD
CY2016Q3	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	1794000	USD
CY2016Q3	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	310000	USD
CY2016Q3	us-gaap	Operating Leases Future Minimum Payments Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear	558000	USD
CY2015Q3	us-gaap	Operating Leases Rent Expense Minimum Rentals OperatingLeasesRentExpenseMinimumRentals	700000	USD
	us-gaap	Operating Leases Rent Expense Minimum Rentals OperatingLeasesRentExpenseMinimumRentals	2200000	USD
CY2016Q3	us-gaap	Operating Leases Rent Expense Minimum Rentals OperatingLeasesRentExpenseMinimumRentals	700000	USD
	us-gaap	Operating Leases Rent Expense Minimum Rentals OperatingLeasesRentExpenseMinimumRentals	2100000	USD
CY2015Q3	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	0	USD
	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	0	USD
CY2016Q3	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	-1000	USD
	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	24000	USD
CY2015Q3	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	14096000	USD
	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	48801000	USD
CY2016Q3	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	12311000	USD
	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	40401000	USD
CY2015Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	5615000	USD
CY2016Q3	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	2979000	USD
CY2015Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	2006000	USD
CY2016Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1776000	USD
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	800000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	90000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	261000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	5635000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	5529000	USD
CY2015Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	12933000	USD
CY2016Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	12878000	USD
CY2016Q1	us-gaap	Proceeds From Repayments Of Restricted Cash Financing Activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities	-7500000	USD
	us-gaap	Proceeds From Repayments Of Restricted Cash Financing Activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities	0	USD
	us-gaap	Proceeds From Repayments Of Restricted Cash Financing Activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities	-7507000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	1272000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	0	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	26000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	333000	USD
	us-gaap	Profit Loss ProfitLoss	-3990000	USD
	us-gaap	Profit Loss ProfitLoss	842000	USD
CY2015Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	79918000	USD
CY2016Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	78847000	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	25515000	USD
CY2016Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	23740000	USD
CY2015Q4	us-gaap	Receivables Net Current ReceivablesNetCurrent	17965000	USD
CY2016Q3	us-gaap	Receivables Net Current ReceivablesNetCurrent	10309000	USD
CY2015Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	0	USD
CY2016Q3	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	7507000	USD
CY2016Q3	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	7500000	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	32043000	USD
CY2016Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	32885000	USD
CY2015Q3	us-gaap	Revenues Revenues	38506000	USD
	us-gaap	Revenues Revenues	118327000	USD
CY2016Q3	us-gaap	Revenues Revenues	31195000	USD
	us-gaap	Revenues Revenues	107548000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	3398000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	3546000	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	93856000	USD
CY2016Q3	us-gaap	Stockholders Equity StockholdersEquity	97341000	USD
CY2015Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	49436000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	49394000	shares
CY2016Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	50200000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	50401000	shares
CY2015Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	49436000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	49394000	shares
CY2016Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	50200000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	49974000	shares
	us-gaap	Write Off Of Deferred Debt Issuance Cost WriteOffOfDeferredDebtIssuanceCost	0	USD
	us-gaap	Write Off Of Deferred Debt Issuance Cost WriteOffOfDeferredDebtIssuanceCost	468000	USD
	us-gaap	Revenue Recognition Interest RevenueRecognitionInterest	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenues, Accounts Receivable, and Estimated Liability for Appeals</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenue is recognized upon the collection of defaulted loan and debt payments. Loan rehabilitation revenue is recognized when the rehabilitated loans are sold (funded) by clients. Incentive revenue is recognized upon receipt of official notification of incentive award from customers. Under the Company’s Medicare Recovery Audit Contractor, or RAC, contract with Centers for Medicare and Medicaid Services, or CMS, the Company recognizes revenues when the healthcare provider has paid CMS for a given claim or has agreed to an offset against other claims by the provider. Providers have the right to appeal a claim and may pursue additional appeals if the initial appeal is found in favor of CMS. The Company accrues an estimated liability for appeals at the time revenue is recognized based on the Company's estimate of the amount of revenue probable of being refunded to CMS following successful appeal. In addition, if the Company's estimate of the liability for appeals with respect to revenues recognized during a prior period changes, the Company increases or decreases current period accruals based on such change in estimated liability. At </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;"> a total of </font><font style="font-family:inherit;font-size:10pt;">$19.2 million</font><font style="font-family:inherit;font-size:10pt;"> was presented as an allowance against revenue, representing the Company’s estimate of claims audited under the CMS contract that may be overturned. Of this, an immaterial amount was related to accounts receivable and </font><font style="font-family:inherit;font-size:10pt;">$19.2 million</font><font style="font-family:inherit;font-size:10pt;"> was related to commissions which had already been received. The </font><font style="font-family:inherit;font-size:10pt;">zero</font><font style="font-family:inherit;font-size:10pt;"> allowance against accounts receivable at </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;"> is due to the fact that the receivable from CMS is netted against an offsetting payable for overturned audits, and at </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;">, the amount of the payable exceeded the amount of the receivable as discussed in note 1(c). In addition to the </font><font style="font-family:inherit;font-size:10pt;">$19.2 million</font><font style="font-family:inherit;font-size:10pt;"> related to the RAC contract with CMS, the Company has accrued </font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">$0.4 million</font><font style="font-family:inherit;font-size:10pt;"> of additional estimated liability for appeals related to other healthcare contracts. The total accrued liability for appeals of </font><font style="font-family:inherit;font-size:10pt;">$19.6 million</font><font style="font-family:inherit;font-size:10pt;"> has been presented in the caption estimated liability for appeals at </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;">.  At December 31, 2015, the total appeals-related liability was </font><font style="font-family:inherit;font-size:10pt;">$19.1 million</font><font style="font-family:inherit;font-size:10pt;">. The </font><font style="font-family:inherit;font-size:10pt;">$19.6 million</font><font style="font-family:inherit;font-size:10pt;"> balance at September 30, 2016 and </font><font style="font-family:inherit;font-size:10pt;">$19.1 million</font><font style="font-family:inherit;font-size:10pt;"> balance at December 31, 2015, represent the Company’s best estimate of the probable amount of losses related to appeals of claims for which commissions were previously collected. In addition to the </font><font style="font-family:inherit;font-size:10pt;">$19.6 million</font><font style="font-family:inherit;font-size:10pt;"> amount accrued at </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company estimates that it is reasonably possible that it could be required to pay an additional amount up to approximately </font><font style="font-family:inherit;font-size:10pt;">$5.4 million</font><font style="font-family:inherit;font-size:10pt;"> as a result of potentially successful appeals. To the extent that required payments by the Company exceed the amount accrued, revenues in the applicable period would be reduced by the amount of the excess.</font></div></div>

Files In Submission

Name	View Source	Status
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$PHLT
Performant Healthcare Inc Stock $phlt

2016 Q4 Form 10-Q Financial Statement

#000162828016021025 Filed on November 08, 2016

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$PHLT Performant Healthcare Inc Stock $phlt

2016 Q4 Form 10-Q Financial Statement

#000162828016021025 Filed on November 08, 2016

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$PHLT
Performant Healthcare Inc Stock $phlt