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CareCloud (CCLD) Earnings Call Presentation
2025-06-18 18:56
© CareCloud, Inc. 2025 DRIVING NEXT-GEN HEALTHCARE WITH GENERATIVE AI SOLUTIONS Nasdaq Global Market: CCLD, CCLDO Investor Presentation May 2025 A healthcare technology company with 25 years of experience, delivering AI-driven, end-to-end solutions that power real- world clinical and financial transformation. Safe Harbor Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of o ...
CareCloud to Present on AI Innovation at Maxim Group’s 2025 Virtual Tech Conference on June 3, 2025
Globenewswire· 2025-06-02 12:00
Core Insights - CareCloud, Inc. is participating in the "2025 Virtual Tech Conference" to discuss the impact of AI on healthcare delivery [1][2] - The conference will highlight how emerging growth companies are utilizing transformative technologies like AI and Quantum Computing for long-term success [3] Company Overview - CareCloud specializes in AI-driven healthcare technology solutions, aiming to enhance financial and operational performance, streamline clinical workflows, and improve patient experiences [4] - The company serves over 40,000 providers, focusing on reducing administrative burdens and operating costs while improving patient care [4] Conference Details - The Healthcare IT Panel featuring CareCloud is scheduled for June 3, 2025, at 11:00 a.m. EDT [1] - Participants must register as M-Vest members to attend the conference and view CareCloud's presentation [3]
CareCloud Announces Results from Annual Shareholders’ Meeting
Globenewswire· 2025-05-28 12:05
Core Points - CareCloud, Inc. held its 2025 Annual Shareholders' Meeting on May 27, 2025, where shareholders re-elected three board members and approved executive compensation and the appointment of an accounting firm [1][2][3] - The re-elected board members include Anne Busquet, Bill Korn, and Lawrence Sharnak, all of whom have extensive experience in executive roles [2] - The shareholders approved the advisory compensation for the Company's named executive officers as disclosed in the 2025 Proxy Statement [1][7] - Rosenberg Rich Baker Berman, P.A. was appointed as the independent registered public accounting firm for the year ending December 31, 2025 [1][7] Company Overview - CareCloud is a leader in healthcare technology solutions, providing services that enhance financial and operational performance, streamline clinical workflows, and improve patient experiences [4] - The Company serves over 40,000 providers, helping them reduce administrative burdens and operating costs while improving patient care [4]
CareCloud Announces Results from Annual Shareholders' Meeting
GlobeNewswire News Room· 2025-05-28 12:05
Core Points - CareCloud, Inc. held its 2025 Annual Shareholders' Meeting on May 27, 2025, where shareholders re-elected Anne Busquet, Bill Korn, and Lawrence Sharnak to the Board for another two-year term [1][2] - Shareholders approved the advisory compensation for the Company's named executive officers as disclosed in the 2025 Proxy Statement [1][7] - Rosenberg Rich Baker Berman, P.A. was appointed as the independent registered public accounting firm for the year ending December 31, 2025 [1][7] Group 1 - Anne Busquet has over 30 years of executive experience with American Express and Interactive Corp [2] - Bill Korn served as Chief Financial Officer for 10 years before retiring in October 2023 [2] - Lawrence Sharnak held various senior leadership roles at American Express for more than 30 years [2] Group 2 - CareCloud provides technology-enabled solutions aimed at improving financial and operational performance, streamlining clinical workflows, and enhancing patient experience [4] - The Company serves over 40,000 providers, helping them improve patient care while reducing administrative burdens and operating costs [4]
CareCloud(CCLD) - 2025 Q1 - Quarterly Report
2025-05-06 20:30
Financial Performance - For the three months ended March 31, 2025, net revenue was $27,632,000, an increase of 6.4% from $25,962,000 in the same period of 2024[161] - Adjusted EBITDA for the same period was $5,595,000, up 51.8% from $3,687,000 in 2024[161] - GAAP net income for Q1 2025 was $1,948,000 compared to a loss of $241,000 in Q1 2024[161] - The adjusted operating margin improved to 8.5% in Q1 2025 from 2.3% in Q1 2024[161] - Non-GAAP adjusted net income for Q1 2025 was $2,290,000, compared to $220,000 in Q1 2024[164] - The GAAP operating margin for Q1 2025 was 7.3%, significantly higher than 0.5% in Q1 2024[161] - Non-GAAP adjusted earnings per share for Q1 2025 was $0.05, compared to $0.01 in Q1 2024[164] - Net income for the three months ended March 31, 2025, was $1.96 million, compared to a net loss of $0.23 million in the same period of 2024[179] - The company recorded net income of $7.9 million for fiscal year 2024, a significant improvement from a net loss of $48.7 million in fiscal year 2023[195] Revenue Composition - Revenue for the three months ended March 31, 2025, was $27.6 million, an increase of $1.7 million or 6% from $25.9 million in the same period of 2024[180] - Technology-enabled business solutions accounted for approximately 64% of total revenue for the three months ended March 31, 2025[167] Expenses - Direct operating costs increased by $287,000 or 2% to $15.5 million for the three months ended March 31, 2025, compared to $15.2 million in 2024[182] - Selling and marketing expenses decreased by $639,000 or 36% to $1.1 million for the three months ended March 31, 2025[183] - General and administrative expenses increased by $611,000 or 16% to $4.3 million for the three months ended March 31, 2025[184] - Research and development expenses increased by $322,000 or 35% to $1.2 million for the three months ended March 31, 2025[185] Cash Flow and Capital Expenditures - As of March 31, 2025, the company had total cash of $6.8 million and net working capital of $11.7 million[194] - Net cash provided by operating activities increased to $5.1 million for the three months ended March 31, 2025, up 26% from $4.1 million in the same period of 2024[199] - Net cash used in investing activities decreased to $1.5 million in Q1 2025 from $1.9 million in Q1 2024, reflecting a 19% reduction[201] - Net cash used in financing activities increased to $1.9 million in Q1 2025, compared to $1.4 million in Q1 2024, representing a 41% increase[202] - Capital expenditures for Q1 2025 were $624,000, up from $298,000 in Q1 2024, primarily for computer equipment and leasehold improvements[201] - Software development costs capitalized were $846,000 in Q1 2025, down from $1.6 million in Q1 2024[201] Operational Insights - The company served approximately 40,000 providers as of March 31, 2025, maintaining the same level as in 2024[166] - The company has approximately 290 experienced health industry experts in the U.S. and a specialized offshore workforce of about 3,400[154] - Offshore operations in Pakistan and Sri Lanka accounted for approximately 17% and 15% of total expenses for Q1 2025 and 2024, respectively[156] Financial Strategy and Outlook - Management expects to continue enhancing liquidity and financial position over the next twelve months[196] - The company maintained a revolving line of credit with an unused borrowing base of $10 million as of March 31, 2025[198] - The company has been able to monitor and mitigate the impact of inflation through pricing strategies and productivity improvements[197] - The interest rate on the company's line of credit is based on the prime rate, which has shown slight fluctuations in 2023 and 2024[197]
CareCloud(CCLD) - 2025 Q1 - Earnings Call Transcript
2025-05-06 13:32
Financial Performance - Revenue for Q1 2025 was $27.6 million, an increase from $26 million in Q1 2024, reflecting ongoing demand for integrated AI-enabled RCM solutions [8][29] - GAAP net income was $1.9 million, a significant turnaround from a net loss of $241,000 in Q1 2024 [8][30] - Adjusted EBITDA rose to $5.6 million, up 52% year over year, representing 20% of revenue [9][31] - Free cash flow for Q1 2025 was $3.6 million, with a significant reduction in dividend obligations from $3.9 million to approximately $1.5 million per quarter following the conversion of Series A preferred stock [11][29] Business Lines and Market Data - Recurring technology-enabled business solution revenue was $17.7 million, up approximately $400,000 year over year, while non-recurring professional services revenue from MSR increased by approximately $1.5 million [29] - Remote Patient Monitoring (RPM) and Chronic Care Management (CCM) revenue grew by approximately 25-30% year over year, although it still represents a small portion of overall revenue [67] Company Strategy and Industry Competition - The company has re-entered the M&A market, completing two strategic acquisitions in early 2025, which are expected to be accretive within 90 days [13][14] - The launch of the AI Center of Excellence aims to position the company at the forefront of intelligent healthcare automation, with plans to scale the team to 500 AI professionals by the end of the year [12][17] - The company is focused on transforming the care journey through intelligent automation across clinical workflows and revenue cycle operations [17][22] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive sustainable value for shareholders and clients, reaffirming guidance for 2025 with expected revenue of approximately $111 million to $114 million [32][34] - The company does not anticipate significant pressure on demand for its services due to external economic factors such as tariffs or inflation [32] Other Important Information - The company has improved its financial position significantly over the past year, returning to profitability and generating strong free cash flow [34] - The AI initiatives are fully self-funded through operating cash flow, reflecting the strength of the underlying business model [17][18] Q&A Session Summary Question: Key factors for revenue growth and expectations for the quarter - Management noted that the revenue growth was driven by a large project in MedSR and emphasized a focus on existing client sales and new opportunities facilitated by specialty-specific EHRs [36][38] Question: Timeline for AI product development - Management indicated that they will provide quarterly updates on AI projects and progress, with ongoing improvements in backend processes and various AI initiatives already in development [42][44] Question: Seasonality of the business - Management acknowledged that Q1 is typically lower due to deductibles but expressed optimism about achieving overall revenue targets for the year [45][46] Question: Capital allocation priorities - The company plans to prioritize reinvestment in the business, particularly in AI, while also pursuing tuck-in acquisitions that align with existing capabilities [50][52] Question: Expense efficiencies and targeted areas - Management highlighted that AI will play a key role in driving efficiencies, particularly in automating revenue cycle functions and improving internal workflows [55][60] Question: Remote patient monitoring and chronic care management opportunities - Management expressed excitement about RPM and CCM growth, noting it as a natural fit for upselling and expanding revenue opportunities, although it remains a small portion of overall revenue [66][68] Question: Sustainability of cost of goods sold and tax rate - Management indicated that the decline in cost of goods sold as a percentage of revenue is sustainable and that the low tax rate is expected to remain consistent due to sufficient NOLs [70][76]
CareCloud(CCLD) - 2025 Q1 - Earnings Call Transcript
2025-05-06 12:30
Financial Performance - Revenue for Q1 2025 was $27.6 million, an increase from $26 million in Q1 2024, reflecting ongoing demand for integrated AI-enabled RCM solutions [6][29] - GAAP net income for Q1 2025 was $1.9 million, a significant turnaround from a net loss of $241,000 in Q1 2024 [6][30] - Adjusted EBITDA rose to $5.6 million, up 52% year over year, representing 20% of revenue [7][30] - Free cash flow for Q1 2025 was $3.6 million, with a reduction in quarterly dividend obligations from approximately $3.9 million to $1.5 million following the conversion of Series A preferred stock [10][30] Business Lines and Market Data - Recurring technology-enabled business solution revenue was $17.7 million in Q1 2025, up approximately $400,000 from the previous year [29] - Non-recurring professional services revenue from MSR increased by approximately $1.5 million [29] - Remote Patient Monitoring (RPM) and Chronic Care Management (CCM) revenue grew by approximately 30% year over year, although it still represents a small portion of overall revenue [66] Company Strategy and Industry Competition - The company has launched an AI Center of Excellence, targeting a team of 500 AI professionals by the end of 2025, focusing on automating various healthcare processes [11][16] - Two strategic acquisitions were completed in early 2025, marking a return to M&A after nearly four years, aimed at disciplined accretive growth [12][14] - The company aims to leverage AI for operational efficiency and long-term product innovation, positioning itself as a leader in intelligent healthcare automation [20][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive sustainable value for shareholders and clients, reaffirming guidance for 2025 revenue of approximately $111 million to $114 million [32][34] - The company does not anticipate significant pressure on demand for its services due to external economic factors such as tariffs or inflation [31][32] Other Important Information - The company has improved its financial position significantly over the past year, returning to profitability and reducing dividend commitments [34] - A Form S-3 shelf registration statement has been filed and is now effective, providing flexibility for future capital needs [33] Q&A Session Summary Question: Key factors for revenue growth and quarter performance - Management noted that the revenue growth was driven by a large project in MedSR and emphasized a focus on existing client sales and new opportunities facilitated by specialty-specific EHRs [36][38] Question: Timeline for AI product development - Management indicated that over 50 employees have been hired for the AI initiative, with regular updates on project progress and performance metrics to be communicated quarterly [41][42] Question: Seasonality of the business - Management acknowledged that Q1 is typically lower due to deductibles but expressed optimism about achieving overall revenue targets for the year [44][45] Question: Capital allocation priorities - The company plans to prioritize reinvestment in AI while also pursuing tuck-in acquisitions that align with existing capabilities [49][51] Question: Sustainability of cost efficiencies - Management believes that the reduction in cost of goods sold as a percentage of revenue is sustainable and will continue to seek further efficiencies [68][70] Question: Tax rate expectations - The company expects its low tax rate to remain consistent due to sufficient net operating losses [73]
CareCloud(CCLD) - 2025 Q1 - Earnings Call Presentation
2025-05-06 11:11
RESULTS NASDAQ GLOBAL MARKET: CCLD, CCLDO A healthcare technology company with 25 years of experience, delivering AI-driven, end-to-end solutions that power real-world clinical and financial transformation. © CareCloud, Inc. 2025 This presentation contains forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by ...
CareCloud(CCLD) - 2025 Q1 - Quarterly Results
2025-05-06 11:05
Exhibit 99.1 CareCloud Delivers Growth and Strong Cash Flow in Q1 2025, Advances AI and Acquisition Strategy SOMERSET, N.J. May 6, 2025 (GLOBE NEWSWIRE) - CareCloud, Inc. (Nasdaq: CCLD, CCLDO), a leader in healthcare technology and generative AI solutions, today announced strong financial results for the three months ended March 31, 2025. CareCloud's strategic execution, AI-driven innovation, and disciplined financial management have fueled a transformational turnaround, positioning the Company for sustaine ...
CareCloud Launches Healthcare AI Center Set to Become World’s Largest with 500 AI Professionals
Globenewswire· 2025-04-28 12:00
Core Insights - CareCloud, Inc. has launched its AI Center of Excellence (AI CoE), aimed at delivering scalable, domain-specific AI solutions for healthcare [1][2] - The AI CoE began operations with a team of over 50 professionals and plans to expand to 500 by Q4 2025, positioning itself as the largest dedicated healthcare AI initiative globally [2][3] - The initiative is fully self-funded, showcasing CareCloud's strong cash flows and efficient cost structure, which allows for accelerated innovation and cost-effective solutions [2][4] Company Strategy - The AI CoE is a pivotal part of CareCloud's growth strategy, emphasizing the need for innovation in the healthcare sector to remain competitive [3][5] - CareCloud aims to integrate AI across its technology stack, enhancing operational efficiency and clinical outcomes while reducing administrative burdens [4][5] - The company is focused on developing proprietary healthcare AI models, streamlining clinical workflows, and improving patient engagement through AI-driven personalization [7] Industry Impact - The healthcare industry is rapidly adopting AI, and CareCloud's AI CoE is positioned to lead this transformation by driving operational changes and improving care delivery [5][6] - By leveraging 25 years of clinical and financial data, CareCloud is developing AI solutions that are compliant with HIPAA regulations, ensuring immediate real-world impact [2][4] - The focus on predictive analytics will enable earlier identification of reimbursement risks and operational bottlenecks, further enhancing the efficiency of healthcare providers [7]