Veradigm (MDRX) - 2025 Q1 - Quarterly Results

Veradigm 2025 Financial & Business Update Business & Commercial Update Veradigm secured over $30 million in Q1 2025 annual contract value, a 25% increase, while progressing towards current SEC filings by 2026 - Closed deals with over $30 million in annual contract value in Q1 2025, representing a 25% increase compared to the same period in 2024[2] - The company is actively working to become current in its SEC financial filings and anticipates completion in 2026[2] Preliminary Q1 2025 Financial Results For Q1 2025, Veradigm estimates GAAP revenue between $145M-$147M, with cash decreasing to $272M and debt stable at $208M Preliminary Financials as of March 31, 2025 | Metric | Value (Estimated) | | :--- | :--- | | GAAP Revenue (Q1 2025) | $145M - $147M | | Cash and Equivalents | ~$272M | | Debt | ~$208M | Q1 Revenue Comparison (YoY) | Revenue Segment | Q1 2025 (Est.) | Q1 2024 (Est.) | | :--- | :--- | :--- | | Provider | $113M - $115M | $115M - $116M | | Payer & Life Science | $31M - $32M | $29M - $30M | | Total GAAP Revenue | $145M - $147M | $144M - $146M | - Cash and equivalents decreased by approximately $23 million from December 31, 2024, due to ~$13M for prior acquisitions, ~$6M for capital expenditures, and ~$4M in net operating outflows[5] Debt & Liquidity Veradigm secured a new $100M loan, drawing $75M, increasing total expected debt to $283M by June 30, 2025 New Debt Financing Details | Feature | Detail | | :--- | :--- | | Total Facility | Up to $100M | | Amount Drawn | $75M (on June 18, 2025) | | Interest Rate | SOFR + 750 basis points | | Term | 5 years | Expected Debt Structure (as of June 30, 2025) | Debt Component | Amount | | :--- | :--- | | New Borrowings | $75M | | 2019 Convertible Notes (Principal) | $208M | | Total Expected Debt | $283M | - If all holders of the 2019 convertible notes exercise their repurchase option on July 1, 2025, the required repayment would be $228 million[4] Fiscal Year 2025 Outlook Veradigm reaffirms its FY2025 outlook, expecting GAAP revenue to be flat compared to 2024 estimates of $583M-$588M, with positive net cash FY 2025 Financial Outlook | Metric | Outlook | | :--- | :--- | | GAAP Revenue | Approx. flat compared to 2024 (Est. $583M - $588M) | | Net Cash | Expected to remain positive | SEC Filings and Stock Information The company aims to become current with SEC filings by 2026 for relisting, with 108.6M common shares outstanding as of June 10, 2025 - The company plans to become current in its SEC filings during 2026 and subsequently seek to relist its common stock[6] Share Information (as of June 10, 2025) | Security Type | Outstanding | | :--- | :--- | | Common Stock | 108.6 million shares | | Unvested Restricted Stock Units | 10.9 million units | Investor Communication Veradigm management will host an investor conference call and webcast on June 24, 2025, to discuss the company's update - An investor conference call and webcast is scheduled for 8:00 a.m. ET on June 24, 2025, to discuss the company's update[6][7] Disclaimer and Forward-Looking Statement Information Preliminary unaudited financial results are subject to change, and forward-looking statements carry significant risks including SEC investigations - The estimated financial results are preliminary, unaudited, and may change upon completion of the financial closing audit[11] - The report contains forward-looking statements that are subject to significant risks, including delays in SEC filings, potential for additional accounting errors, ongoing SEC investigations, and litigation[12][13]