TruBridge(US:TBRG)2025-11-06 21:23Financial Performance - TruBridge reported total revenue of $86.1 million for Q3 2025, a 1.7% increase from $84.7 million in Q3 2024[3] - Adjusted EBITDA margin for Q3 2025 was 19%, reflecting a sustainable profitability expansion[2] - For the full year 2025, TruBridge expects total revenue between $345 million and $348 million, revised from $345 million to $350 million[4] - GAAP net income for Q3 2025 was $5.6 million, compared to a net loss of $9.1 million in Q3 2024[3] - Non-GAAP net income for Q3 2025 was $12.8 million, compared to a net loss of $3.1 million in Q3 2024[3] - Financial Health revenue for Q3 2025 was $54.5 million, representing 63% of total revenue[3] - Total revenues for the three months ended September 30, 2025, were $86,106,000, an increase from $84,700,000 in the same period of 2024, representing a growth of 1.7%[32] - Adjusted EBITDA for the three months ended September 30, 2025, was $16,272,000, up from $14,692,000 in the same period of 2024, reflecting a margin of 18.9%[28] - Non-GAAP net income for the three months ended September 30, 2025, was $12,812,000, compared to a loss of $3,105,000 in the same period of 2024[30] - Non-GAAP EPS for the three months ended September 30, 2025, was $0.88, compared to a loss of $0.22 in the same period of 2024[30] - The company’s total adjusted EBITDA for the nine months ended September 30, 2025, was $48,245,000, compared to $38,460,000 for the same period in 2024, indicating a significant year-over-year increase[28] Revenue Composition - Recurring revenue accounted for 94% of total revenue in Q3 2025[3] - Total recurring revenues for the three months ended September 30, 2025, were $80,939,000, slightly increasing from $80,565,000 in the same period of 2024[32] - The company reported total non-recurring revenues of $5,167,000 for the three months ended September 30, 2025, compared to $4,135,000 in the same period of 2024, marking an increase of 25%[32] Bookings and Future Expectations - Total bookings for Q4 2025 are expected to be $15.5 million, down from $21.0 million[3] - Total bookings for the three months ended September 30, 2025, were $15,503,000, down 26% from $20,950,000 in the same period of 2024[17] - The company reported a total of $63,097,000 in bookings for the nine months ended September 30, 2025, a decrease of 7% from $67,810,000 in 2024[17] - Financial Health segment bookings for the three months ended September 30, 2025, were $9,507,000, down from $12,496,000 in 2024, representing a decline of 23.9%[17] - Patient Care segment bookings for the nine months ended September 30, 2025, were $27,105,000, slightly down from $27,464,000 in 2024, indicating a decrease of 1.3%[17] - The company plans to transition to reporting total bookings on an Annual Contract Value (ACV) basis starting January 2025, enhancing revenue recognition clarity[18] Financial Health and Assets - Total assets increased to $399,412,000 as of September 30, 2025, compared to $394,432,000 on December 31, 2024, reflecting a growth of 0.25%[13] - Cash and cash equivalents increased to $19,920,000 at the end of the period, compared to $12,324,000 at the beginning, marking a growth of 61.5%[15] - Total current liabilities increased to $53,749,000 as of September 30, 2025, compared to $52,975,000 on December 31, 2024, reflecting a rise of 1.5%[13] - Net income for the nine months ended September 30, 2025, was $8,641,000, a significant improvement from a net loss of $15,390,000 in the same period of 2024[15] Leadership and Strategic Initiatives - The company has made leadership enhancements, including hiring a Chief Business Officer to drive growth[2] - TruBridge aims to achieve greater EBITDA margins and free cash flow in the coming years through strategic improvements[2] Non-GAAP Financial Measures - Stock-based compensation is a non-cash expense that is excluded from non-GAAP financial measures due to its variability and lack of direct correlation to business performance[38] - Non-recurring charges related to severance and business transformation initiatives are excluded from non-GAAP financial measures as they may not reflect underlying business performance[38] - Non-cash interest expense, including amortization of deferred debt issuance costs, is excluded from non-GAAP financial measures for similar reasons[38] - Interest expense and other income, which includes interest incurred on loans, is excluded from non-GAAP financial measures due to its transactional nature[38] - Gains or losses on the disposal of property and equipment are excluded from non-GAAP financial measures as they may not correlate with business performance[38] - The gain on the sale of AHT, a previously wholly-owned business, is excluded from non-GAAP financial measures due to its specific transaction nature[38] - Changes in fair value of contingent consideration from the acquisition of Viewgol are excluded from non-GAAP financial measures as they may not reflect ongoing business performance[38] - Tax shortfalls or windfalls from stock-based compensation are excluded from non-GAAP financial measures due to their variability and lack of correlation to business performance[38]