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 September 30, 2019 ☐ 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 Juri ...

Financial Data and Key Metrics Changes - Q2 2019 revenue and earnings were relatively aligned with expectations, with a nearly 3% decrease in revenues compared to Q2 2018, while adjusted EBITDA increased by 28% and non-GAAP net income increased by 48% [36][37] - Operating cash flows for Q2 2019 were $9.6 million, more than doubling the $4.7 million in Q2 2018, and trailing 12-month operating cash flows reached approximately $33.6 million compared to $15.6 million a year ago [38][39] - The company identified $10 million in cost savings during 2018 and $3 million in 2019, contributing to increased profitability despite revenue fluctuations [35] Business Line Data and Key Metrics Changes - TruBridge bookings experienced a decline of 27% sequentially and 51% year-over-year, while software bookings saw a 19% sequential increase due to improved deal flow for new acute care EHR business [46][47] - The acute EHR system sales within the community market have slowed, with a focus on improving client experience to maintain strong retention rates [15][16] - TruBridge revenues increased by 5% year-over-year, driven by strong volumes in accounts receivable management services [52] Market Data and Key Metrics Changes - The decision-making timeframe for acute EHR systems has more than doubled since 2016, impacting bookings and sales [19] - The company reported a decent increase in post-acute bookings, indicating positive results from improved user experience and workflow [20] - The competitive landscape includes increased activity among existing customers of competitors, with CPSI primarily competing against Cerner and MEDITECH [84] Company Strategy and Development Direction - The acquisition of Get Real Health is aimed at enhancing patient engagement solutions and expanding capabilities in the growing market for chronic care management [22][40] - The company is focusing on providing flexible ownership models to accommodate community hospitals' preferences, including an intra-subscription model [17] - CPSI aims to leverage its core business stability while pursuing growth opportunities and helping clients thrive [65] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth prospects based on the strength of the pipeline, despite challenges in decision-making timelines [35][64] - The company anticipates that the lag in decision-making may lead to opportunities for closing deals in the second half of the year [95] - Management acknowledged the need to navigate a slow decision-making environment to reach long-term growth targets [64] Other Important Information - The company hosted its National Client Conference, which welcomed over 1,000 clients and provided education on product vision and strategy [21] - GRH's contribution to adjusted EBITDA was a loss of $600,000 for Q2, with expectations for potential positive contributions in the future [42][44] - The effective tax rate for Q2 was 22.2%, relatively in line with the previous quarter [62] Q&A Session Summary Question: Impact of regulatory changes on decision-making - Management indicated that regulatory changes are minimal, with the exception of the post-acute market, and emphasized the lack of urgency in decision-making [68][70] Question: Expectations for new facility installations - Management remains optimistic about achieving around 25 installations for the year, based on current pipeline visibility [71] Question: TruBridge revenue growth expectations - Management expects TruBridge revenue growth to be between 5% to 7% for the year, acknowledging challenges from recent client operational decisions [106] Question: Competitive environment insights - Management noted that competitors are not actively pursuing new sales opportunities, focusing instead on retaining existing customers [84] Question: Cost savings and financial receivables - Management confirmed that nearly all identified cost savings are flowing through the P&L, with expectations for continued cash contributions from financing receivables [117] Question: Get Real Health revenue expectations - Management clarified that Get Real Health's 2018 revenue was reported under ASC 605, and future revenues may fluctuate under ASC 606 [119]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Exact Name of Registrant as Specified in Its Charter) Delaware 74-3032373 (State or Other Jurisdiction of Incorporation or Organization) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 6600 Wall Street, Mobile, Alabama 36695 (Address of Principal Executive Offices) (Zip Code) For the quarterly period ended June 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURI ...

```markdown [PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Q1 2019 revenues were $69.1 million, with net income of $3.4 million and operating cash flow of $7.9 million [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$329.8 million** due to new lease accounting, while liabilities decreased and equity rose to **$164.2 million** Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2019 | December 31, 2018 | | :--- | :--- | :--- | | **Total Assets** | **$329,839** | **$327,746** | | Cash and cash equivalents | $4,409 | $5,732 | | Goodwill | $140,449 | $140,449 | | **Total Liabilities** | **$165,598** | **$167,963** | | Long-term debt, net | $115,448 | $124,583 | | **Total Stockholders' Equity** | **$164,241** | **$159,783** | - The company adopted a new lease accounting standard (ASU 2016-02) on January 1, 2019, resulting in the recognition of **$5.9 million** in operating lease assets and **$5.9 million** in operating lease liabilities[12](index=12&type=chunk)[25](index=25&type=chunk)[79](index=79&type=chunk) [Condensed Consolidated Statements of Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q1 2019 revenues decreased to **$69.1 million**, resulting in lower operating income and net income of **$3.4 million** Q1 2019 vs Q1 2018 Income Statement (in thousands, except per share data) | Metric | Q1 2019 | Q1 2018 | | :--- | :--- | :--- | | Total sales revenues | $69,141 | $70,882 | | Gross profit | $37,115 | $39,085 | | Operating income | $6,048 | $7,648 | | Net income | $3,444 | $3,967 | | Net income per share—diluted | $0.24 | $0.29 | | Dividends declared per common share | $0.10 | $0.10 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow significantly increased to **$7.9 million**, while financing activities used **$8.7 million**, ending with **$4.4 million** cash Q1 2019 vs Q1 2018 Cash Flow Summary (in thousands) | Activity | Q1 2019 | Q1 2018 | | :--- | :--- | :--- | | Net cash provided by operating activities | $7,888 | $3,125 | | Net cash used in investing activities | ($473) | ($60) | | Net cash used in financing activities | ($8,738) | ($1,858) | | **Increase (decrease) in cash** | **($1,323)** | **$1,207** | | **Cash and cash equivalents at end of period** | **$4,409** | **$1,727** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes cover new lease accounting, segment performance, a reduced effective tax rate of **23.3%**, and the Get Real Health acquisition - The company adopted ASU 2016-02, Leases, on January 1, 2019, which resulted in the recognition of lease assets and liabilities of **$4.9 million** on the balance sheet without impacting net earnings or cash flows[25](index=25&type=chunk) - The effective tax rate for Q1 2019 decreased to **23.3%** from **32.4%** YoY, primarily due to increased R&D tax credits and a decrease in tax shortfalls related to stock-based compensation[48](index=48&type=chunk) - On May 3, 2019, the company acquired Get Real Health for a total consideration of **$11 million** in cash, plus a potential earnout payment of up to **$14 million**[92](index=92&type=chunk) Segment Revenue and Gross Profit (in thousands) | Segment | Q1 2019 Revenue | Q1 2018 Revenue | Q1 2019 Gross Profit | Q1 2018 Gross Profit | | :--- | :--- | :--- | :--- | :--- | | Acute Care EHR | $37,448 | $40,182 | $20,382 | $23,426 | | Post-acute Care EHR | $5,799 | $5,569 | $4,528 | $3,908 | | TruBridge | $25,894 | $25,131 | $12,205 | $11,751 | | **Total** | **$69,141** | **$70,882** | **$37,115** | **$39,085** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 2019 revenue declined **2%** due to EHR installations, offset by TruBridge growth, with bookings down **37%** and solid liquidity - The company's long-term growth strategy is dependent on selling new and additional products to its existing customer base, with a focus on cross-selling opportunities between its Acute Care EHR, Post-acute Care EHR, and TruBridge segments[100](index=100&type=chunk) - An increasing prevalence of SaaS arrangements is expected to continue, which reduces upfront system sales revenues in exchange for increased recurring periodic revenues over the contract term[109](index=109&type=chunk) - On May 3, 2019, the company acquired Get Real Health to strengthen its patient engagement solutions, financed with an **$11.0 million** draw on its revolving credit facility[110](index=110&type=chunk)[136](index=136&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Total revenues decreased **2%** to **$69.1 million**, with system sales down, TruBridge up **3%**, and a lower effective tax rate of **23.3%** Revenue Breakdown (in thousands) | Revenue Category | Q1 2019 | Q1 2018 | Change | Change % | | :--- | :--- | :--- | :--- | :--- | | System sales and support | $43,247 | $45,751 | ($2,504) | -5% | | - Recurring | $31,867 | $32,965 | ($1,098) | -3% | | - Non-recurring | $11,380 | $12,786 | ($1,406) | -11% | | TruBridge | $25,894 | $25,131 | $763 | 3% | | **Total Revenues** | **$69,141** | **$70,882** | **($1,741)** | **-2%** | - General and administrative expenses decreased by **$0.5 million**, primarily due to **$2.5 million** in savings from changes in employee health benefits, partially offset by a **$1.1 million** increase in acquisition-related costs and a **$0.6 million** increase in bad debt expense[127](index=127&type=chunk) - The effective tax rate decreased from **32.4%** to **23.3%** YoY, driven by increased R&D tax credits under the ASC 730 Safe Harbor Directive and lower tax shortfalls from stock-based compensation[131](index=131&type=chunk) [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains solid liquidity with **$4.4 million** cash and **$20.3 million** credit, supported by strong operating cash flow of **$7.9 million** - Principal sources of liquidity as of March 31, 2019, were **$4.4 million** in cash and **$20.3 million** in remaining borrowing capacity under the Amended Revolving Credit Facility[133](index=133&type=chunk) - Net cash from operating activities increased by **$4.8 million** YoY, from **$3.1 million** to **$7.9 million**, mainly due to more advantageous changes in working capital, particularly accounts and financing receivables[112](index=112&type=chunk)[137](index=137&type=chunk) - A mandatory prepayment of **$7.0 million** was made on the Amended Term Loan Facility during Q1 2019 related to excess cash flow generated in 2018[78](index=78&type=chunk)[139](index=139&type=chunk) [Backlog and Bookings](index=38&type=section&id=Backlog%20and%20Bookings) Twelve-month backlog decreased to **$244 million**, and total bookings fell **37%** to **$13.9 million**, primarily due to Acute Care EHR Bookings by Segment (in thousands) | Segment | Q1 2019 Bookings | Q1 2018 Bookings | Change % | | :--- | :--- | :--- | :--- | | Acute Care EHR | $8,285 | $17,505 | -53% | | Post-acute Care EHR | $1,431 | $727 | +97% | | TruBridge | $4,228 | $3,818 | +11% | | **Total Bookings** | **$13,944** | **$22,050** | **-37%** | - The 12-month backlog as of March 31, 2019, consisted of approximately **$17 million** in non-recurring system purchases and **$227 million** in recurring payments, compared to **$35 million** and **$230 million**, respectively, as of March 31, 2018[146](index=146&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate fluctuations on its **$125.1 million** variable-rate debt - The company is exposed to interest rate risk on its **$125.1 million** of outstanding variable-rate borrowings[155](index=155&type=chunk) - A one hundred basis point change in the interest rate would impact annual interest expense by approximately **$1.3 million**[155](index=155&type=chunk) [Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective, with no material changes to internal controls except for new lease accounting standards - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period[158](index=158&type=chunk) - No material changes were made to internal control over financial reporting in Q1 2019, though new controls were implemented related to the adoption of the new lease accounting standard[159](index=159&type=chunk) [PART II. OTHER INFORMATION](index=40&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine litigation but reports no material legal proceedings impacting its financial condition - The company reports no material legal proceedings outside the ordinary course of business[161](index=161&type=chunk) [Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the December 31, 2018 Annual Report on Form 10-K - The report refers to the risk factors discussed in the Annual Report on Form 10-K for the year ended December 31, 2018, indicating no material updates[162](index=162&type=chunk) [Exhibits](index=40&type=section&id=Item%206.%20Exhibits) Key exhibits filed include the Get Real Health acquisition agreement and CEO/CFO certifications - Key exhibits filed include the Stock Purchase Agreement for the Get Real Health acquisition and CEO/CFO certifications[169](index=169&type=chunk) ```

Computer Programs and Systems, Inc. (CPSI) Q1 2019 Earnings Conference Call May 2, 2019 4:30 PM ET Company Participants Boyd Douglas - President and Chief Executive Officer Matt Chambless - Chief Financial Officer David Dye - Chief Growth Officer Chris Fowler - Chief Operating Officer Conference Call Participants Donald Hooker - KeyBanc Mike Ott - Oppenheimer Gene Mannheimer - Dougherty & Company Stephanie Demko - Citi Westley Dupray - SVB Leerink Operator Greetings, and welcome to the CPSI First Quarter 20 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2018 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 COMPUTER PROGRAMS AND SYSTEMS, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporatio ...

Computer Programs and Systems, Inc. (CPSI) Q4 2018 Earnings Conference Call February 15, 2019 9:30 AM ET Company Participants Boyd Douglas - President and CEO Matt Chambless - CFO Chris Fowler - COO David Dye - Chief Growth Officer Conference Call Participants Jeff Garro - William Blair & Company Mohan Naidu - Oppenheimer David Larsen - Leerink Partners Donald Hooker - KeyBanc Capital Markets Jonathan Bentley - SVB Leerink Sean Wieland - Piper Jaffray Jamie Stockton - Wells Fargo Stephanie Demko - Citi Gene ...