Outpatient imaging operator Akumin reported a major spike in second-quarter revenue for fiscal year 2022 compared with the same period last year, due to its acquisition of Alliance HealthCare Services, yet a significant net loss between the periods.
Akumin reported revenue totaling $192 million for the second quarter (end-June 30) of 2022, a 176.5% increase over revenues of $69.5 million in the second quarter of last year. The increase is significantly attributable to its acquisition of Alliance on September 1, 2021, the company said.
Yet the company's net loss was $26.1 million compared to a net loss of $6.9 million in the second quarter of last year. The company said significant management efforts and resources are being allocated to its integration initiatives and to meet challenges facing the industry, including cost inflation, labor shortages, and disrupted supply chains.