Financial Data and Key Metrics Changes - In 2024, the company achieved record-breaking profitability with adjusted EBITDA rising to $24.1 million, a 56% increase year over year, and net income reaching an all-time high of $7.9 million despite a modest decline in revenue [8][26] - Free cash flow reached $13.2 million, a year-over-year increase of nearly 250%, reinforcing the company's ability to drive sustained profitability [8][27] - Revenue for the fourth quarter of 2024 was $28.2 million, compared to $28.4 million in the same period of 2023, indicating a slight decline [25] Business Line Data and Key Metrics Changes - Recurring technology-enabled business solution revenues during the fourth quarter of 2024 were $24.8 million, essentially flat compared to the fourth quarter of 2023, while non-recurring professional services revenues from Medisar declined by approximately $400,000 [25] - The company anticipates revenue growth in the range of $111 million to $114 million for 2025, supported by market demand for integrated AI-driven solutions [12] Market Data and Key Metrics Changes - The specialty EHR market represents a multibillion-dollar opportunity driven by the need for tailored solutions that enhance clinical efficiency, regulatory compliance, and patient care [21] - The company is expanding its specialty-based EHR solutions and launching new AI-driven products, addressing distinct needs across various medical specialties [20][22] Company Strategy and Development Direction - The company is focused on strategic growth, efficiency, and expansion, leveraging AI-driven automation and innovations to enhance provider workflows and optimize patient outcomes [12][22] - The conversion of Series A preferred shares into common stock was a significant strategic move, aimed at simplifying the capital structure and enhancing shareholder value [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive earnings per share for the first time since going public in 2014, reflecting the strength of the business transformation and operational discipline [9][12] - The company remains committed to financial strength, innovation, and sustainable growth, reinforcing its position as a leader in AI-driven healthcare solutions [28] Other Important Information - The company has fully repaid its Silicon Valley Bank line of credit and is now bank debt-free, which has significantly improved its financial position [24][27] - The company has not completed an acquisition in almost four years, but a recent small acquisition marks its reentry into the acquisition market [15] Q&A Session Summary Question: Revenue and EBITDA guidance for the year - Management indicated that they expect revenue in the range of $111 million to $114 million, reflecting a strategic shift back into growth while maintaining responsible spending [33][35] Question: Insights on M&A pipeline and valuations - Management noted a gradual return to lower multiples seen in the pre-COVID era, with a focus on pursuing value-driven acquisitions that align with long-term objectives [39][40] Question: User base expansion and offerings - The user base is diversified, with a significant portion in primary care, and the company aims to upsell various solutions to existing clients [46][47] Question: 2025 guidance and customer attrition - The 2025 guidance does not factor in any material acquisitions, focusing instead on organic growth and small tuck-in opportunities [48][49] Question: Preferred stocks and dividends - Management explained the conversion of Series A preferred shares and the ongoing obligations related to Series B preferred shares, with expected annualized dividends of about $5.5 million [64][66]