CPSI reports Q2 net loss, lowers adjusted EBITDA guidance to $52.5-54.5M

TruBridge, Inc.

2023-Q2 EPS reported $0.02 revenue$170,855,000

GAAP net loss of $2.8M ($0.20 loss per diluted share); non-GAAP net income of $5.7M ($0.40 EPS).
Revenue $84.6M (+2.3% YoY); bookings $21.9M (down from $23.8M); adjusted EBITDA $11.2M (down from $13.2M).
FY2023 revenue guidance unchanged at $340-350M; adjusted EBITDA lowered to $52.5-54.5M from $59-63M.
CEO Chris Fowler cites 'transformative change' and 'outsized expenses' pressuring earnings.
RCM revenue $47.8M (56.4% of total revenue); operating cash flow $717k for the quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TruBridge, Inc. reported second quarter ended June 30, 2023 results: revenue $84.6 million, net income GAAP net loss of $(2.8) million, EPS GAAP loss per diluted share of $(0.20). Guidance lowered.

Period: second quarter ended June 30, 2023
Revenue: $84.6 million
Net income: GAAP net loss of $(2.8) million
EPS: GAAP loss per diluted share of $(0.20)
Guidance: lowered
Result: reported results

Exact text from the filing

2023 Financial Overview All comparisons are to the quarter ended June 30, 2022, unless otherwise noted. Bookings of $21.9 million compared to $23.8 million Total revenue of $84.6 million compared to $82.7 million RCM revenue of $47.8 million compared to $46.8 million RCM revenue represented 58.2% of CPSI’s total recurring revenue and 56.4% of CPSI’s total revenue

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Source: SEC EDGAR

accession 0001157523-23-001304

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