Watertown, Mass.-based athenahealth reported non-GAAP adjusted net income of $20.5 million, or $0.51 per diluted share, compared with $13.4 million, or $0.34 per diluted share, in the year-ago period. Revenue rose 15% year-over-year to $301 million.
Shares of athenahealth were trading at $155.50 after the close on Thursday, up 8%.
The company also said that its board, in consultation with its advisers, is evaluating shareholder feedback received over the past several months. The company said it plans to provide an update "in due course."
Athenahealth is a provider of medical record, revenue cycle, patient engagement, care coordination and population health services.
In May, Elliott Management Corp.'s Paul Singer launched a campaign at company, urging it to consider "strategic opportunities."
In a 13D filing on May 18, Elliott said it believed that Athenahealth operates in a "highly strategic area at the intersection of technology and health care with a disruptive value proposition, a leading competitive position and a compelling product set, the value of which is not reflected in [athenahealth's] current market value."
The activist fund added it believes "there are numerous operational and strategic opportunities to maximize shareholder value" and the fund will be seeking to talk to the company's board.
In a note on July 19, Leerink Partners LLC analyst David Larsen said he thinks athenahealth CEO Jonathan Bush "is likely willing to work with activist shareholder Elliott Management in an effort to better allocate capital in a way that is more shareholder friendly and reflective of a maturing business."
For athenahealth, the release of its second-quarter results comes days after it announced on July 14 that Chief Financial Officer Karl Stubelis was leaving to pursue other opportunities. The company tapped director John A. "Jack" Kane as interim CFO effective July 21.