For the third straight quarter since Athenahealth began reporting quarterly bookings, the company booked less business than it did during the same period the year before.
Bookings were down 29% year over year, falling to $46.6 million for the third quarter of 2018.
Revenue was up though, hitting $329.5 million according to the company's new accounting standards and $331.4 million according to the old standards, a 9% increase from the same period the year before.
Athenahealth is confident in its prospects, Chief Financial Officer Marc Levine said in a statement. The company will hold a call to discuss the results on Monday.
Athenahealth has had a tumultuous 12 months. In late 2017, it laid off about 9% of its workforce. It also weathered several takeover attempts, including two by Elliott Management—which currently has a 9.2% stake in Athenahealth.
Shortly after Elliott Management and Athenahealth tussled over the potential takeover in May 2018, then-CEO Jonathan Bush faced a new set of problems. Reports of sexual harassment surfaced, and it was made public that Bush had attacked his now ex-wife during their marriage. Bush stepped down in June 2018. The company has since been helmed by Jeff Immelt as executive chairman and Levine, who took on additional leadership responsibilities.