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- **Revenue Growth & Guidance**: Q3 revenue up 9% YoY to $31.1M, full-year guidance raised to $117M-$119M. GAAP EPS improved to $0.04, adjusted EBITDA up 13%.
- **Strategic Acquisitions**: Medsphere ($16.5M) expands inpatient EHR/RCS, Map App enhances benchmarking. Credit facility reduced to $4.9M, with plans to repay fully.
- **AI Breakthrough**: Agentic AI handles 70% patient calls end-to-end, 80% scheduling success. Cross-selling to 100+ Medsphere hospitals and scaling across care continuum.
- **Financial Health**: 9M cash flow of $19.9M, GAAP net income $3.1M. Non-GAAP adjusted net income $4.4M ($0.10/share).

**【CEO Summary Section】**
- **Revenue Growth & Guidance Update**: Q3 revenue of $31.1M (+9% YoY), raising full-year guidance to $117M-$119M from $111M-$114M. GAAP EPS improved to $0.04 (vs. -$0.04 last year), with adjusted EBITDA up 13% to $7.7M.
- **Strategic Acquisitions**: Acquired Medsphere ($16.5M) for inpatient EHR and RCM capabilities, and Map App (HFMA's benchmarking tool) to enhance AI-driven analytics. Medsphere's integration focuses on cross-selling AI and RCM solutions, while Map App provides data-driven client engagement.
- **AI Innovation**: Launched Agentic AI front desk solution, handling 70% of patient calls end-to-end in pilot, with 80% success rate in appointment scheduling. Solution integrates with EHR and practice management platforms, offering multilingual support and 24/7 operation.

**【CFO Financial Commentary】**
- **Cash Flow & Profitability**: 9M cash flow from operations of $19.9M (vs. $15.4M last year), with Q3 GAAP net income of $3.1M. Non-GAAP adjusted net income of $4.4M ($0.10/share). Full-year adjusted EBITDA guidance reaffirmed at $26M-$28M.
- **Debt Management**: Post-Medsphere acquisition, reduced credit facility balance from $8.25M to $4.9M, with plans to fully repay within months. Maintained $10M credit line for flexibility.
- **Revenue Breakdown**: Q3 included $3.4M from Medsphere, $0.9M from CareCloud Wellness. 9M total revenue of $86.1M (+4.2% YoY).

**【Q&A Highlights】**
- **Go-to-Market Strategy**: Prioritizes cross-selling AI and RCM solutions to Medsphere's 100+ hospitals, targeting critical access hospitals (1,400+ underserved facilities). Map App used to benchmark performance and upsell solutions.
- **AI Market Positioning**: Agentic AI's 70% call handling rate (excluding transfers) and domain-specific compliance differentiate it from generic voice AI platforms. Plans to scale deployment across ambulatory and hospital settings.
- **M&A Trends**: Sellers recognize AI-driven valuation pressure, enabling accretive acquisitions at 1x or below revenue. Focus on non-dilutive, cash-flow positive deals with <30% operating margin targets.


CareCloud, Inc. (CCLD) Q3 2025 Earnings Call Transcript

- **Historic Financial Breakthrough**: First positive GAAP EPS ($0.04) and $9M free cash flow, up 85% YoY. 
- **AI-Driven Growth**: AI Center of Excellence with 100+ professionals, cirrusAI Notes adoption doubling, and 75%+ client retention post-trial. 
- **Market Expansion**: ONC-certified EHR for critical access hospitals targets $1.5B rural healthcare market. 
- **M&A Momentum**: 2025 tuck-in acquisitions, including hearing health deal with 3x revenue expansion. 
- **Operational Efficiency**: AI automation cuts manual work by 30-50%, enabling 20% EBITDA growth YoY.

**【CEO Summary Section】**
- **Financial Milestones**: Achieved first positive GAAP EPS of $0.04, up from a loss of $0.14 YoY. GAAP net income rose 73% to $2.9 million, with free cash flow up 85% to $9 million. Reaffirmed 2025 guidance for revenue ($111-114M), EBITDA ($26-28M), and EPS ($0.10-0.13). 
- **AI Strategy**: Launched AI Center of Excellence with 100 full-time AI professionals and 100 interns. cirrusAI Notes adoption doubled, cirrusAI Voice deployed internally. AI-driven automation reduced manual work in claims coding, denial management, and A/R prioritization. 
- **Growth Initiatives**: Completed 2 M&A deals in 2025, resuming dividend payments funded by free cash flow. Received ONC certification for talkEHR platform targeting critical access hospitals ($1.5B addressable market). 

**【CFO Financial Commentary】**
- **Q2 2025 Results**: Revenue $27.4M (down $700K YoY due to one-time item). GAAP net income $2.9M vs $1.7M YoY. Adjusted EBITDA $6.5M (flat YoY). Year-to-date GAAP net income $4.9M (vs $1.4M). 
- **Cost Efficiency**: Direct operating costs down $760K YoY. G&A, R&D, and sales expenses declined $1.4M. Free cash flow $9M (vs $4.9M YoY). 
- **Balance Sheet**: $10.4M cash as of June 30. Net working capital $14.9M. 

**【Q&A Highlights】**
- **AI Investment ROI**: 75%+ client retention rate for cirrusAI Notes post-trial. AI back office automation reducing manual work by 30-50%. 
- **M&A Strategy**: Focused on accretive tuck-ins in AI-powered RCM. Recent RevNu Med deal (hearing health) expanded to 3-year contract. 
- **Market Expansion**: Targeting 1,300 critical access hospitals with cloud-based EHR. AI front desk agent pilot reducing call center costs by 20%. 
- **Cash Flow Management**: AI Center of Excellence funded entirely by free cash flow. Q3/Q4 revenue expected to mirror 2024 seasonality with modest growth.

CareCloud, Inc. (CCLD) Q2 2025 Earnings Call Transcript

- **Revenue rebound**: Q1 2025 revenue up 6% YoY to $27.6M, with first positive GAAP net income in 11 years.
- **AI-driven efficiency**: $10M+ annual cash freed from Series A conversion to fund AI Center expansion to 500+ professionals.
- **Acquisition momentum**: Two tuck-in deals in Q1, with 90-day accretion, signaling return to disciplined M&A.
- **Financial health**: Free cash flow up 64% YoY to $3.6M, with 2025 EBITDA guidance of $26-28M.
- **AI impact**: cirrusAI voice in pilot, AI denial prevention cutting rework by 30%, and specialty EHRs nearing launch.

**【CEO Summary Section】**
- Q1 2025 revenue reached $27.6 million, up 6% YoY, driven by recurring tech solutions and strategic acquisitions (MesaBilling, RevNu). 
- GAAP net income turned positive at $1.9 million vs. $241K loss in Q1 2024, with adjusted EBITDA up 52% to $5.6 million.
- Series A preferred stock conversion reduced quarterly dividend obligations from $3.9M to $1.5M, freeing $10M+ annual cash for growth.
- Launched AI Center of Excellence with 50+ AI professionals (target 500 by end-2025), focusing on RCM automation, denial prediction, and EHR integration.
- 2025 guidance: $111-114M revenue, $26-28M EBITDA, and first positive GAAP EPS since 2014.

**【CFO Financial Commentary】**
- Free cash flow surged to $3.6M in Q1 vs. $2.2M in Q1 2024, with full $10M credit facility available.
- Recurring revenue grew 2.4% YoY to $17.7M, while non-recurring medSR jumped $1.5M due to a large project.
- Reduced operating expenses by $25M+ in 2024, enabling reinvestment in AI without dilution.
- Tax rate remains low (~0%) due to NOL utilization, with minimal state taxes.

**【AI Strategy & Product Updates】**
- cirrusAI notes now embedded in EHRs, automating coding and documentation with 100% workflow integration.
- cirrusAI voice launched with 2 pilot clients, auditing 100% of calls for compliance and agent performance.
- AI-driven denial prevention reduced rework by 30%, with predictive analytics for revenue forecasting.
- Specialty EHRs (dermatology, cardiology) nearing launch, combining AI tools with niche clinical workflows.

**【Q&A Highlights】**
- RPM/CCM revenue grew 25-30% YoY, but still <5% of total; sees up-sell opportunity via existing clients.
- AI investments will focus on backend RCM efficiency (eligibility verification, appeals automation) before scaling frontend tools.
- Acquisitions will prioritize $1-2M tuck-ins with <90-day accretion, funded by free cash flow.
- Seasonality muted due to recurring revenue mix; Q1 typically lowest due to deductible resets.

CareCloud, Inc. (CCLD) Q1 2025 Earnings Call Transcript

- **2024 Record Year**: $24.1M Adjusted EBITDA (+56%), $7.9M net income, $13.2M free cash flow. First neutral EPS in Q4, 2025 guidance for positive EPS.
- **Series A Conversion**: Eliminated $10M annual dividends, aligning 3.5M preferred shares with common stock. Remaining 1M Series A shares pay 11% dividends.
- **2025 Growth Drivers**: AI solutions (cirrusAI Notes, call center AI) targeting 5+ specialties, specialty EHR launches, and $111M-$114M revenue.
- **M&A Re-entry**: Small acquisition in March signals return to strategic deals, focusing on RCM client bases with attractive COAC.
- **Financial Health**: Debt-free with $10M credit line, $13.2M free cash flow in 2024, and Q1 2025 dividend ~$500K.

**【CEO Summary Section】**
- **Record Financial Performance**: 2024 saw $24.1M Adjusted EBITDA (+56% YoY), $7.9M net income (highest in company history), and $13.2M free cash flow (+250% YoY). Q4 2024 marked first neutral EPS, with 2025 guidance for positive EPS.
- **Strategic Milestone**: Conversion of $3.5M Series A preferred shares into common stock, eliminating $10M annual dividend obligation and aligning interests with common shareholders.
- **2025 Outlook**: Revenue $111M-$114M, Adjusted EBITDA $26M-$28M, EPS $0.10-$0.13. Growth driven by AI solutions, specialty EHR launches, and selective acquisitions.

**【CFO Financial Commentary】**
- **Q4 2024 Results**: GAAP net income $3.3M (vs. $43.7M loss YoY), Adjusted EBITDA $7.1M (25% of revenue, +73% YoY). Full-year free cash flow $13.2M, with $10M used to repay SVB debt, leaving $10M credit line available.
- **Capital Structure**: Series A conversion reduced dividend payments by $10M annually. Remaining 1M Series A shares continue to pay 11% dividends, while Series B maintains 8.75% rate.

**【AI & Growth Initiatives】**
- **cirrusAI Expansion**: cirrusAI Notes now supports 5+ specialties, with early adopters seeing 70%+ time savings in documentation. New AI call center solution auditing 100% of calls, launching Q2 2025.
- **Specialty EHR Pipeline**: 5+ specialty EHRs (rheumatology, cardiology) set to launch Q2 2025, targeting $multibillion market for tailored clinical solutions.

**【Q&A Highlights】**
- **Revenue Growth Mix**: 2025 growth from upsells (RCM, digital health), new clients (life sciences, small hospitals), and selective acquisitions at low COAC.
- **M&A Strategy**: Re-entering acquisition market with focus on RCM client bases. Recent small acquisition signals intent to pursue accretive deals post-2025H2.
- **Preferred Dividends**: Q1 2025 dividend ~$500K, stabilizing at $450K/month post-catch-up. Series B dividend rate remains unchanged at 8.75%.


CareCloud (CCLD)-13 Mar 25-2024 Q4 Earnings call transcript

CareCloud (CCLD)-12 Nov 24-2024 Q3 Earnings call transcript

CareCloud (CCLD)-13 Aug 24-2024 Q2 Earnings call transcript

CareCloud (CCLD)-14 May 24-2024 Q1 Earnings call transcript

CareCloud (CCLD)-21 Mar 24-2023 Q4 Earnings call transcript

- **AI-Driven Growth**: Free trial of CirrusAI generative AI solution in Q4, with commercial launch in 2024 targeting EHR and RCM automation.
- **Cost Efficiency**: $10 million annualized free cash flow improvement via expense reduction and R&D capitalization optimization.
- **Middle East Expansion**: UAE-based expansion underway, with 2024 revenue target from 3+ contracts in healthcare IT.
- **Contract Win**: New credentialing contract with potential >$1 million annualized revenue at 5% penetration.

**【CEO Summary Section】**
- **Revenue and EBITDA**: Q3 revenue of $29.3 million, adjusted EBITDA of $3.2 million. Full-year guidance reaffirmed at $120-$122 million revenue and $15-$17 million EBITDA.
- **AI Strategy**: Launched CirrusAI generative AI solution for EHR and RCM, offered free trial Q4 with commercial launch in 2024. AI-driven features include clinical decision support and appeals automation.
- **MedSR Stabilization**: RCM practice grew 300% since 2021; pipeline shifted to higher-margin RCM and tech transformation. Signed $30 million in new contracts post-Q3.
- **Global Expansion**: Dubai-based expansion underway, targeting UAE healthcare market. CARECloud Prime (formerly CareCloud Go) cloud-based EHR platform set for launch, featuring AI integration and value-based care tools.

**【CFO Financial Commentary】**
- **Cost Realignment**: $10 million annualized free cash flow improvement via $5 million expense savings and $5 million R&D capitalization reduction. Q3 cash flow from operations: $4.3 million.
- **Financial Performance**: Year-over-year revenue decline due to 2 lost customers; adjusted EBITDA margin 1% vs. 14.5% YoY. 2023 guidance reflects stabilization and 2024 growth positioning.

**【Q&A Key Highlights】**
- **AI and Prime Platform**: CirrusAI trial results show promise in appeals processing and clinical decision-making; Prime platform will integrate AI features for value-based care.
- **Middle East Expansion**: UAE entity established, data localization compliance underway. Targeting 2024 revenue from 3+ contracts, with focus on health information exchange integration.
- **Credentialing Contract**: New contract with FORCE client for tens of thousands of providers; 5% penetration could yield >$1 million annualized revenue. Offshore resources enable cost-effective credentialing at 1/4 industry timeline.

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