Financial Performance - Total bookings for Q2 2024 reached $23.3 million, a 10.95% increase from $21.0 million in Q2 2023[2] - Total revenue for Q2 2024 was $84.7 million, slightly up from $84.6 million in Q2 2023[2] - Revenue Cycle Management (RCM) revenue was $54.1 million, representing 63.9% of total revenue, compared to $47.8 million in the same quarter last year[2] - GAAP loss per diluted share was $(0.34), compared to $(0.20) in Q2 2023[2] - Non-GAAP earnings per diluted share decreased to $0.16 from $0.40 year-over-year[2] - Adjusted EBITDA for Q2 2024 was $12.6 million, an increase from $11.2 million in Q2 2023[2] - TruBridge reported a net loss of $7,565,000 for Q2 2024, compared to a net income of $247,000 in Q2 2023[12] - Net income for Q2 2024 was reported at a loss of $5,049,000, compared to a loss of $2,837,000 in Q2 2023[17] - Non-GAAP net income for Q2 2024 was $2,318,000, compared to $5,701,000 in Q2 2023, reflecting a decline of 59.3%[17] Guidance and Future Expectations - For Q3 2024, TruBridge expects total revenue between $82 million and $85 million[4] - The full year 2024 revenue guidance remains between $330 million and $340 million[4] - The company plans to continue focusing on operational improvements and strategic planning to enhance financial performance moving forward[20] Cash Flow and Assets - TruBridge reported a significant improvement in cash flow from operations during the quarter[2] - Cash and cash equivalents at the end of Q2 2024 were $7,709,000, up from $3,848,000 at the beginning of the period, marking an increase of approximately 100.0%[12] - Total current assets decreased to $91,583,000 as of June 30, 2024, down from $111,455,000 at the end of 2023, reflecting a decline of approximately 17.8%[11] - Total liabilities decreased to $231,185,000 as of June 30, 2024, down from $247,804,000 at the end of 2023, a reduction of about 6.7%[11] - TruBridge's total stockholders' equity decreased to $181,102,000 as of June 30, 2024, down from $186,618,000 at the end of 2023, a decline of about 3.0%[11] Revenue Breakdown - Total consolidated bookings for Q2 2024 reached $23,290,000, an increase from $20,970,000 in Q2 2023, representing a growth of approximately 11.7%[13] - TruBridge's subscription revenue for Q2 2024 was $5,749,000, a substantial increase from $2,864,000 in Q2 2023, reflecting a growth of approximately 100.0%[14] - Total recurring revenues from EHR for Q2 2024 were $26,666,000, down from $33,742,000 in Q2 2023, indicating a decrease of approximately 20.9%[18] - Total EHR revenues for the first six months of 2024 were $60,831,000, down from $74,464,000 in the same period of 2023, a decrease of 18.3%[18] Expenses and Charges - Stock-based compensation expense for Q2 2024 was $1,501,000, compared to a negative expense of $123,000 in Q2 2023[17] - Severance and other non-recurring charges amounted to $4,586,000 in Q2 2024, down from $6,819,000 in Q2 2023[17] - Interest expense for Q2 2024 was $4,151,000, significantly higher than $2,586,000 in Q2 2023, marking an increase of 60.5%[16] Operational Investments - The company invested $9,324,000 in software development during Q2 2024, compared to $12,143,000 in the same period last year[12] - The company continues to focus on enhancing financial operations and cross-selling efforts to drive future growth[2] Share Information - The company reported a total of 14,313 diluted weighted average shares outstanding for Q2 2024, compared to 14,200 in Q2 2023[17]

TruBridge, Inc. (NASDAQ:TBRG) Q1 2024 Earnings Conference Call May 10, 2024 8:00 AM ET Company Participants Chris Fowler - President and Chief Executive Officer Vinay Bassi - Chief Financial Officer Conference Call Participants Sean Dodge - RBC Capital Markets Jeff Garro - Stephens Stephanie Davis - Barclays George Hill - Deutsche Bank Operator Good morning, and welcome to the TruBridge First Quarter 2024 Earnings Conference Call. Leading today's call are Chris Fowler, President and Chief Executive Officer; ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-49796 TRUBRIDGE, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 74-3032373 (State or Other Jurisdiction of Incorporatio ...

TRUBRIDGE ANNOUNCES FIRST QUARTER 2024 RESULTS MOBILE, ALA. (May 10, 2024) – TruBridge, Inc. (NASDAQ: TBRG), a healthcare solutions company, today announced financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights All comparisons are to the quarter ended March 31, 2023, unless otherwise noted Exhibit 99.1 Commenting on the results, Chris Fowler, chief executive officer of TruBridge, Inc., stated, "We continued to make significant progress on our transformation efforts duri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 000-49796 TruBridge, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 74-3032373 (State or Other Jurisdiction of Incorporatio ...

Computer Programs and Systems, Inc. (CPSI) Q4 2023 Earnings Conference Call February 29, 2024 4:30 PM ET Company Participants Dru Anderson - Investor Relations Chris Fowler - President and Chief Executive Officer Vinay Bassi - Chief Financial Officer Conference Call Participants Jeff Garro - Stephens, Inc. Sarah James - Cantor Fitzgerald Stephanie Davis - Barclays Operator Greetings, and welcome to the CPSI Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. A ...

Revenue Growth and Performance - Q4 2023 total revenue increased to $85.9 million from $83.2 million in Q4 2022, with RCM revenue growing to $51.0 million from $45.7 million, representing 60.7% of total recurring revenue[6] - Full year 2023 total revenue rose to $339.4 million from $326.6 million in 2022, with RCM revenue increasing to $193.9 million from $179.9 million, accounting for 58.9% of total recurring revenue[6] - For Q1 2024, the company expects revenue in the range of $82 million to $84 million and adjusted EBITDA of $8.5 million to $9.5 million[10] - For full year 2024, the company anticipates revenue in the range of $340 million to $350 million and adjusted EBITDA of $45 million to $50 million[10] Earnings and Profitability - Q4 2023 GAAP loss per diluted share was $(2.92), while non-GAAP earnings per diluted share were $0.36, with adjusted EBITDA at $12.0 million compared to $13.2 million in Q4 2022[6] - Full year 2023 GAAP loss per diluted share was $(3.15), while non-GAAP earnings per diluted share were $1.79, with adjusted EBITDA at $47.6 million compared to $55.9 million in 2022[6] - Net income for 2023 was a loss of $45.789 million, compared to a profit of $15.867 million in 2022[18] - Non-GAAP net income for Q4 2023 was $5.129 million, compared to $8.710 million in Q4 2022[30] - Non-GAAP EPS for Q4 2023 was $0.36, down from $0.61 in Q4 2022[30] - Full-year 2023 Non-GAAP net income was $25.410 million, compared to $37.031 million in 2022[30] - Full-year 2023 Non-GAAP EPS was $1.79, down from $2.58 in 2022[30] Bookings and Segment Performance - Q4 2023 bookings were $26.0 million, up from $24.7 million in Q4 2022, while full year 2023 bookings were $85.1 million, down from $89.4 million in 2022[6] - Total bookings for 2023 were $85.102 million, down from $89.405 million in 2022[20] - RCM segment bookings increased from $48.065 million in 2022 to $48.986 million in 2023[20] - EHR segment bookings decreased from $38.152 million in 2022 to $33.143 million in 2023[20] Impairments and Non-Recurring Charges - Q4 2023 operating loss was $(41.8) million, primarily due to a $35.9 million goodwill impairment and $2.3 million trademark intangible impairment[13] - Goodwill impairment charge of $35.913 million recorded in 2023[28] - Goodwill impairment charges for 2023 totaled $35.913 million[30] - Trademark intangible impairment charges for 2023 were $2.342 million[30] - Severance and nonrecurring charges for 2023 amounted to $22.186 million[30] Cash Flow and Financial Position - Cash and cash equivalents decreased from $6.951 million in 2022 to $3.848 million in 2023[18] - Total assets decreased slightly from $430.963 million in 2022 to $434.199 million in 2023[16] Adjusted EBITDA and Margins - Adjusted EBITDA for 2023 was $47.576 million, down from $55.899 million in 2022[26] - Adjusted EBITDA margin decreased from 17.1% in 2022 to 14.0% in 2023[28] Investments and Expenses - Software development investment increased from $19.097 million in 2022 to $23.059 million in 2023[18] - Stock-based compensation for 2023 was $3.271 million[30] - Amortization of acquisition-related intangibles for 2023 was $16.426 million[30] - Non-cash interest expense for 2023 was $359,000[30] Strategic Initiatives - The company completed the acquisition of Viewgol, strengthening its market position and ability to improve the financial health of community hospital partners[5] - The company announced its rebranding to TruBridge, reflecting its transformation and focus on delivering a more cohesive suite of solutions to customers[4]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-49796 COMPUTER PROGRAMS AND SYSTEMS, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 74-3032373 (State or Other Jurisdiction of Incorporation or Organization) 54 St. Emanuel Street, Mobile, Alabama 36602 (Address of Principal Executive Offices) (Zip Code) (I.R.S. Employer Identification No. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-49796 COMPUTER PROGRAMS AND SYSTEMS, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 74-3032373 (State or Other Jurisdict ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%2E%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Q1 2023 financial statements show 11% revenue growth from RCM, but net income significantly decreased due to higher costs and interest expense - Commencing in Q4 2022, the company realigned its reportable segments to **Revenue Cycle Management (RCM)**, **EHR**, and **Patient Engagement**, with prior periods recast for comparability[21](index=21&type=chunk) [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2023, total assets increased to **$436.8 million**, liabilities to **$203.3 million**, and stockholders' equity to **$233.6 million** Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $82,300 | $74,559 | | Software development costs, net | $32,004 | $27,257 | | **Total Assets** | **$436,847** | **$430,963** | | **Total Current Liabilities** | $49,149 | $44,455 | | Long-term debt, net | $135,603 | $136,388 | | **Total Liabilities** | **$203,289** | **$199,252** | | **Total Stockholders' Equity** | **$233,558** | **$231,711** | [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q1 2023 total sales revenues increased to **$86.2 million**, but net income significantly dropped to **$3.1 million** due to higher costs and increased interest expense Q1 2023 vs Q1 2022 Income Statement (in thousands, except per share data) | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | **Total Sales Revenues** | **$86,233** | **$77,871** | | Gross Profit | $42,056 | $41,190 | | Operating Income | $6,295 | $8,986 | | Interest Expense | ($2,669) | ($917) | | **Net Income** | **$3,084** | **$8,113** | | Diluted EPS | $0.21 | $0.55 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations decreased to **$9.5 million** in Q1 2023, while investing activities used **$6.2 million** and financing activities used **$3.4 million** Cash Flow Summary (in thousands) | Activity | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $9,473 | $11,817 | | Net cash used in investing activities | ($6,249) | ($47,680) | | Net cash (used in) provided by financing activities | ($3,359) | $40,413 | | **(Decrease) increase in cash** | **($135)** | **$4,550** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail the HRG acquisition, SaaS model shift, credit facility, segment changes, and ongoing legal and SEC accounting inquiries - The company acquired **Healthcare Resource Group (HRG)** on March 1, 2022, for **$43.6 million** net cash, adding **$24.2 million** in intangible assets and **$20.8 million** in goodwill[49](index=49&type=chunk)[50](index=50&type=chunk)[52](index=52&type=chunk) - The company faces a qui tam complaint alleging False Claims Act violations and an **SEC subpoena** from November 2, 2022, regarding accounting matters including revenue recognition and goodwill impairment[98](index=98&type=chunk)[191](index=191&type=chunk) - Customer preference has shifted to a **SaaS license model**, comprising **100%** of new acute care EHR installations in 2022 and Q1 2023, increasing recurring revenue[75](index=75&type=chunk) Segment Revenues and Adjusted EBITDA (in thousands) | Segment | Revenue Q1 2023 | Revenue Q1 2022 | Adj. EBITDA Q1 2023 | Adj. EBITDA Q1 2022 | | :--- | :--- | :--- | :--- | :--- | | RCM | $48,631 | $40,511 | $7,898 | $9,581 | | EHR | $35,191 | $34,763 | $6,157 | $6,163 | | Patient Engagement | $2,411 | $2,597 | $588 | $409 | | **Total** | **$86,233** | **$77,871** | **$14,643** | **$16,153** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes 11% revenue growth to HRG acquisition and RCM organic growth, with net income decline due to increased costs and interest [Results of Operations](index=37&type=section&id=Results%20of%20Operations) Q1 2023 total revenues increased 11% to **$86.2 million** driven by RCM, but gross margin declined and pre-tax income fell due to higher costs and interest - **RCM revenues** increased by **$8.1 million (20%)** year-over-year, with **HRG acquisition** contributing **$6.1 million** and organic growth adding **$2.0 million**[144](index=144&type=chunk) - General and administrative expenses increased by **$1.5 million (11%)**, primarily due to a **$1.3 million** rise in employee health benefit costs from switching to a fully-insured plan[152](index=152&type=chunk) - Product development costs rose by **$1.8 million (22%)** due to increased public cloud migration costs and higher capitalized software amortization[150](index=150&type=chunk) - Total other expense was **$2.4 million**, driven by a **$1.8 million** increase in interest expense and the absence of a **$1.3 million** gain on contingent consideration from the prior year[155](index=155&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2023, liquidity included **$6.8 million** cash and **$86.3 million** available credit, with **$140.2 million** total debt outstanding - As of March 31, 2023, the company held **$6.8 million** in cash and **$86.3 million** in remaining revolving credit facility capacity[166](index=166&type=chunk) - The company's **$230 million credit facility** includes a **$70 million** term loan and **$160 million** revolving credit, with **$140.2 million** outstanding as of March 31, 2023[166](index=166&type=chunk)[167](index=167&type=chunk) - The stock repurchase program was extended to September 4, 2024, with **$16.5 million** remaining for repurchases, while quarterly dividends remain suspended[71](index=71&type=chunk)[171](index=171&type=chunk) [Backlog and Bookings](index=45&type=section&id=Backlog%20and%20Bookings) As of March 31, 2023, the twelve-month backlog was **$332 million**, with Q1 2023 bookings at **$20.9 million**, driven by **41% RCM growth** Twelve-Month Backlog (in millions) | Backlog Type | March 31, 2023 | March 31, 2022 | | :--- | :--- | :--- | | Non-recurring system purchases | ~$8 | ~$6 | | Recurring support, maintenance & RCM | ~$324 | ~$324 | Bookings by Segment (in thousands) | Segment | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | RCM | $12,100 | $8,573 | | EHR | $8,318 | $10,246 | | Patient engagement | $476 | $1,578 | | **Total Bookings** | **$20,894** | **$20,397** | [Quantitative and Qualitative Disclosures about Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Primary market risk is interest rate fluctuation on **$140.2 million** variable-rate debt, where a **100 basis point** change impacts annual interest expense by **$1.4 million** - The company is exposed to interest rate risk on **$140.2 million** of outstanding borrowings, where a **100 basis point** change impacts annual interest expense by approximately **$1.4 million**[185](index=185&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures are effective at a reasonable assurance level as of the period end[187](index=187&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended March 31, 2023[188](index=188&type=chunk) [PART II. OTHER INFORMATION](index=47&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company is cooperating with an **SEC subpoena** regarding accounting matters and defending a qui tam complaint alleging False Claims Act violations - On November 2, 2022, the company received an **SEC subpoena** related to accounting matters from May 1, 2019, onwards, and is cooperating with the investigation[191](index=191&type=chunk) - The company is defending against a qui tam complaint alleging **False Claims Act violations**, which it believes are without merit[98](index=98&type=chunk)[190](index=190&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) No material changes to 10-K risk factors, except for revisions to economic decline and a new risk regarding potential adverse impact of bank failures - A new risk factor was added concerning the potential adverse impact of **bank failures**, noting cash deposits may exceed FDIC insurance limits[194](index=194&type=chunk)[195](index=195&type=chunk) - The risk factor related to economic conditions was updated to include the potential negative impact of a **U.S. government shutdown** or **debt ceiling failure** on customer spending[193](index=193&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=49&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2023, the company repurchased **85,884 shares** at **$28.92** average, with **$16.5 million** remaining for future repurchases Share Repurchases for Q1 2023 | Description | Shares | Average Price Paid | | :--- | :--- | :--- | | Total Shares Purchased | 85,884 | $28.92 | | Purchased as Part of Public Plan | 49,789 | - | | Purchased for Tax Withholdings | 36,095 | - |