Chief executive Ian McCrae said several contracts expected to close before the end of the 2017 financial year did not do so but remained in progress.
The delay in the finalisation of contracts was not attributable to a specific factor, as every potential customer situation was unique. Improved sales processes and forecasting were core areas of focus.
Forecast 2017 operating revenue was now between $194million and $200million.
Although the revenue was now forecast to be a fall on last year, in accounting terms, Orion still expected to see year-on-year revenue growth in currency terms, albeit modest.
The full-year loss before income tax was expected to be between $32million and $38million, an improvement of about $20million from 2016.
''The company has carefully managed costs to ensure the impact on the bottom line is minimised. The ongoing management of costs allows Orion Health to continue to target profitability during the 2018 financial year.''
As the majority shareholder, Mr McCrae said he was directly aligned with all shareholders and the result was not one the company had targeted.
Orion had been taking, and continued to take, direct measures to right size its cost with revenue growth. Despite the slippage, Orion remained on track.
''The board and I remain focused on long-term shareholder value and will evaluate the merits of any partnerships or minority investments to help Orion Health achieve its potential.''
The company had continued to make progress across all regions, Mr McCrae said. The progress included the recent signing of a United-States-based network of more than 1000 independent healthcare providers and a United Kingdom-based integrated electronic health and social care record solution to cover population of more than 750,000 people.
The shares fell as low as $1.62, almost matching the record low $1.56 they plumbed in December, and were recently down 23c to $1.70. They first traded at $6.50 in their NZX debut on November 26, 2014.
In notes to his report, Mr McCrae said Orion's working capital facilities remained in place with ASB Bank, which remained committed to the company.
Discussions with additional investors were confidential and the company would update the market at the appropriate time.
