Performant Financial Corporation (“Performant”) was notified on December 9, 2016 that the Department of Education has issued awards for its new student loan recovery services contract. Performant was not among the seven contractors named as recipients of the contract awards. Performant has requested a debriefing from the Department of Education in order to understand the rationale for the contract award decision. Following this debriefing process, Performant will determine whether to protest the decision.

About Performant Financial Corporation (NASDAQ:PFMT)

Performant Financial Corporation (Performant) provides technology-enabled recovery and related analytics services in the United States. The Company’s services identify and recover delinquent or defaulted assets and improper payments for both government and private clients in a range of markets. The Company provides its services on an outsourced basis where the Company handles many or all aspects of its clients’ recovery processes. The Company uses its technology-enabled services platform to provide recovery and analytics services in a range of markets for the identification and recovery of student loans, improper healthcare payments and delinquent state tax and federal treasury receivables. It provides recovery services to the government-supported student loan industry and its clients include the Department of Education and Guaranty Agencies, as well as private financial institutions. The Company provides recovery services related to improper payments in the healthcare market.

Performant Financial Corporation (NASDAQ:PFMT) Recent Trading Information

Performant Financial Corporation (NASDAQ:PFMT) closed its last trading session down -1.66 at 2.20 with 660,318 shares trading hands.