NXGN on NASDAQ

NextGen Healthcare Information Systems

Logo: NextGen Healthcare Inc's creative team, CC BY-SA 4.0, via Wikimedia Commons4

American software and services company

NextGen Healthcare, Inc. is an American software and services company headquartered in Irvine, California.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

$653.2MRevenue, fiscal 20235
-$2.7MNet income, fiscal 20235
1976Founded1

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  • TickerNXGN on NASDAQ1
  • Industryhealth information technology1
  • HeadquartersIrvine1
  • Founded inIrvine1
  • Websitewww.nextgen.com
  • Legal formpublic company1
  • Incorporated inDE6
  • Business address18111 Von Karman Avenue, Suite 600, Irvine, Ca 926126
  • Filer categoryLarge accelerated filer6

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NextGen Healthcare, Inc. is an American software and services company headquartered in Irvine, California. The company develops and sells electronic health record (EHR) software and practice management systems to the healthcare industry, as part of a range of software, services and analytics solutions for medical and dental practices. On September 7, 2018, Quality Systems, Inc. changed its name to NextGen Healthcare, Inc. and on September 10, their stock ticker symbol changed to NASDAQ: NXGN.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

47.6%Gross margin5
-0.6%Operating margin5
-0.4%Net margin5
9.5%Revenue growth, 20235
-0.7%Return on equity5
$41.4MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue52¢$342.0M
  • Research and development12¢$82.3M
  • Selling, general and admin34¢$223.4M
  • Interest1¢$6.3M
  • Income tax1¢$7.0M

Out of $653.2M in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2023

  • Capital spending4¢$2.3M
  • Share buybacks96¢$49.9M

Out of $43.7M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.5

Financial statements

Revenue891011125$653.2M in 2023+33% since 2016
0$200.0M$400.0M$600.0M$800.0M2016: $492.5M$492.5M20162017: $509.6M$509.6M2017+3%2018: $531.0M$531.0M2018+4%2019: $529.2M$529.2M2019−0%2020: $540.2M$540.2M2020+2%2021: $556.8M$556.8M2021+3%2022: $596.4M$596.4M2022+7%2023: $653.2M$653.2M2023+10%
Gross profit891011125$311.2M in 2023+17% since 2016
0$100.0M$200.0M$300.0M$400.0M2016: $266.9M$266.9M20162017: $286.5M$286.5M2017+7%2018: $289.5M$289.5M2018+1%2019: $282.5M$282.5M2019−2%2020: $272.8M$272.8M2020−3%2021: $281.4M$281.4M2021+3%2022: $300.9M$300.9M2022+7%2023: $311.2M$311.2M2023+3%
Operating income891011125-$3.9M in 2023
-$10.0M0$10.0M$20.0M$30.0M$40.0M2016: $7.4M$7.4M20162017: $27.0M$27.0M2017+267%2018: $2.8M$2.8M2018−90%2019: $31.6M$31.6M2019+1021%2020: $5.1M$5.1M2020−84%2021: $12.8M$12.8M2021+151%2022: $6.7M$6.7M2022−48%2023: -$3.9M-$3.9M2023
Net income891011125-$2.7M in 2023
-$10.0M0$10.0M$20.0M$30.0M2016: $5.7M$5.7M20162017: $18.2M$18.2M2017+222%2018: $2.4M$2.4M2018−87%2019: $24.5M$24.5M2019+912%2020: $7.5M$7.5M2020−69%2021: $9.5M$9.5M2021+27%2022: $1.6M$1.6M2022−83%2023: -$2.7M-$2.7M2023
Fiscal year20162017201820192020202120222023
Revenue$492.5M8$509.6M9$531.0M10$529.2M11$540.2M12$556.8M5$596.4M5$653.2M5
Cost of revenue$225.6M8$223.1M9$241.5M10$246.7M11$267.4M12$275.4M5$295.4M5$342.0M5
Gross profit$266.9M8$286.5M9$289.5M10$282.5M11$272.8M12$281.4M5$300.9M5$311.2M5
Research and development$65.7M8$78.3M9$81.3M10$81.0M11$83.3M12$75.5M5$76.7M5$82.3M5
Selling, general and admin$156.2M8$163.6M9$193.2M10$164.9M11$165.2M12$180.5M5$209.7M5$223.4M5
Operating income$7.4M8$27.0M9$2.8M10$31.6M11$5.1M12$12.8M5$6.7M5-$3.9M5
Interest$1.3M8$3.2M9$3.3M10$2.8M11$2.0M12$3.5M5$1.5M5$6.3M5
Income tax$663.0K8$5.4M9-$2.8M10$4.8M11-$3.2M12-$240.0K5$3.6M5$7.0M5
Net income$5.7M8$18.2M9$2.4M10$24.5M11$7.5M12$9.5M5$1.6M5-$2.7M5
Earnings per share$0.098$0.309$0.0410$0.3811$0.1112$0.145$0.025-$0.045
Earnings per share (diluted)$0.098$0.299$0.0410$0.3811$0.1112$0.145$0.025-$0.045

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The story

Quality Systems, Inc. (QSI) was formed by Sheldon Razin in 1973 in Corona, California, as a dental software company. Sheldon started QSI in his home study with $2,000. It went on to become incorporated in April 1974.

In December 1982, QSI went public through NASDAQ under the symbol QSII.

In 1994, Clinitec was formed by Pat Cline and Bryan Rosenberger to sell software for converting paper medical records into electronic medical records. After acquiring a smaller interest in 1995, QSI purchased the remaining equity of Clinitec in 1996.

In May 1997, QSI purchased Micromed, which provided front- and back office practice management software. In April 1999, QSI combined Clinitec and MicroMed into one operating division to create the MicroMed division, which was later renamed NextGen Healthcare Information Systems division in 2001.

In 2008, NextGen Healthcare then acquired HSI of St. Louis, Missouri, and Practice Management Partners of Hunt Valley, Maryland, to expand its billing services and revenue cycle consulting division.

In 2009, NextGen Healthcare updated the name of its electronic medical record system from NextGen EMR to NextGen EHR.

In February 2010, Quality Systems entered into an agreement to acquire Opus Healthcare Solutions, Inc. and announced it would be integrated with the assets of Sphere Health Systems, Inc., which were acquired by QSI in August 2009. Both software and services companies for the inpatient market would become part of NextGen Healthcare.

Pat Cline retired from NextGen in 2011, and started up a new health informatics venture: Lightbeam Health Solutions.

Read the full text

In 2013, Quality Systems acquired Mirth Corporation, developers of Mirth Connect, a popular open-source integration engine used by thousands of healthcare entities.

In 2013, NextGen was ranked as one of the Top 20 Most Popular EHR Software Solutions on the market by Capterra.

In 2014, NextGen earned KLAS Top Performance Honors for Ambulatory RCM Services.

On October 30, 2015, Quality Systems announced an agreement to acquire HealthFusion for $165 million-plus potential additional contingent consideration of up to $25 million. Based in San Diego, Calif., HealthFusion was a privately held developer of web-based software for physicians, hospitals and medical billing services.

In September 2018, Quality Systems changed its corporate name to NextGen Healthcare, Inc., and its Nasdaq ticker changed from QSII to NXGN.

In October 2019, NextGen Healthcare acquired Topaz Information Solutions.

In November 2019, NextGen Healthcare announced the acquisition of Medfusion and completed the acquisition in December 2019.

In December 2019, NextGen Healthcare announced an agreement to acquire OTTO Health

In September 2023, Thoma Bravo announced it would take NextGen Healthcare private for a total enterprise value of $1.8 billion, which was finalized couple of months later.

From Wikipedia’s article on NextGen Healthcare, shared under CC BY-SA 4.0.7

Leadership

Who has led NextGen Healthcare Information Systems, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Lou Silverman2007–2008
  2. Steven T. Plochocki2008–2015
  3. John R. Frantz2015–2021
  4. David William Sides2021–2023

President

  1. Patrick Cline2006–2011
  2. Steven T. Plochocki2008–2015
  3. Scott D. Decker2009–2012
  4. John R. Frantz2015–2021
  5. David William Sides2021–2023

Chief financial officer

  1. Paul Holt2006–2014
  2. John K. Stumpf2015
  3. James Robert Arnold Jr.2016–2023

Chief operating officer

  1. Daniel Morefield2012–2017
  2. Scott E. Bostick2017–2018
19801990200020102020
Board members and other officers (43)

Products and brands

  • Population Health Management
  • electronic health record
  • health information exchange
  • medical billing
  • patient portal
  • revenue cycle management

Listed on Wikidata.1

NextGen Healthcare's products include:

NextGen Enterprise Ambulatory EHR (Electronic Health Record). The NextGen EHR is primarily a single, all-encompassing database that combines user management, EHR and EPM. This database can run under MS SQL Server 2005, 2008 or Oracle.

NextGen Practice Management. Shares the same database backend as the core EHR product.

NextGen Office

Read the full text

NextGen Patient Portal

NextGen Health Data Hub

NextGen Health Quality Measures

NextGen Advanced Auditing

NextGen Mobile

NextGen Rosetta interface platform

Mirth Connect acquired September 2013

NextGen Healthcare's services include:

Revenue Cycle Management (RCM)

NextGen EDI Services

NextGuard Data Protection

Former products

NextGen Inpatient Clinicals acquired by Quadramed in 2015

NextGen Inpatient Financials acquired by Quadramed in 2015

From Wikipedia’s article on NextGen Healthcare, shared under CC BY-SA 4.0.7

Employees over time

  • 20182,9001

Former names

  • QUALITY SYSTEMS, INCAug 9, 2010 to Aug 16, 20186
  • QUALITY SYSTEMS INCAug 10, 1995 to Aug 3, 20106

Timeline

  1. Sep 24, 2021New chief executive David William Sides becomes CEO18
  2. 2018Went public Listed on NASDAQ1
  3. Jul 2, 2015New chief executive John R. Frantz becomes CEO19
  4. Aug 19, 2008New chief executive Steven T. Plochocki becomes CEO20
  5. Jun 13, 2007New chief executive Lou Silverman becomes CEO21
  6. 1976Founded Founded in Irvine1

Filings

223 filings to the SEC since October 2021: 2 annual reports, 7 quarterly reports, 23 major events, 143 insider forms, 11 large holders, 37 other. The latest 20:

  1. Nov 20, 202315-12G EDGAR
  2. Nov 13, 20234 EDGAR
  3. Nov 13, 20234 EDGAR
  4. Nov 13, 20234 EDGAR
  5. Nov 13, 20234 EDGAR
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  13. Nov 13, 20234 EDGAR
  14. Nov 13, 20234 EDGAR
  15. Nov 13, 20234 EDGAR
  16. Nov 13, 20234 EDGAR
  17. Nov 13, 20234 EDGAR
  18. Nov 13, 20234 EDGAR
  19. Nov 9, 202325-NSE EDGAR
  20. Nov 9, 2023S-8 POS EDGAR

The 223 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 11 such filings since October 2021, the latest 10:

  1. Oct 10, 2023SC 13G/A
  2. Jun 16, 2023SC 13G
  3. Feb 9, 2023SC 13G/A
  4. Jan 27, 2023SC 13G/A
  5. Jan 23, 2023SC 13G/A
  6. Feb 10, 2022SC 13G/A
  7. Jan 27, 2022SC 13G/A
  8. Jan 25, 2022SC 13G/A
  9. Jan 10, 2022SC 13G/A
  10. Nov 10, 2021SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

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