CareCloud reports record FY 2022 net income of $5.4M; guides FY 2023 revenue $142-146M

CareCloud, Inc.

FY 2022 revenue $138.8M (down 1% YoY); GAAP net income $5.4M (up 92% YoY).
Adjusted EBITDA $22.2M (up $129K YoY); adjusted net income $16.3M or $1.07 per share.
Q4 2022 revenue $32.5M (down 13% YoY); GAAP net income $499K; adjusted EBITDA $5.7M.
FY 2023 guidance: revenue $142-146M, adjusted EBITDA $24-27M, implying ~12% organic growth.
Record bookings in 2022 more than double prior year; new products CareCloud Remote and Wellness launched.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CareCloud, Inc. reported Fourth Quarter 2022 results: revenue $32.5 million, net income $499,000, EPS $0.25 per share.

Period: Fourth Quarter 2022
Revenue: $32.5 million
Net income: $499,000
EPS: $0.25 per share
Result: reported results

Exact text from the filing

Fourth Quarter 2022 Highlights ● Revenue of $32.5 million, as compared to $37.5 million in Q4 2021 ● GAAP net income of $499,000, compared to $3.5 million in Q4 2021 ● Adjusted net income of $3.9 million, or $0.25 per share ● Adjusted EBITDA of $5.7 million, as compared to $6.1 million in Q4 2021

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CareCloud, Inc. reported the year ended December 31, 2022 results: revenue $138.8 million, net income $5.4 million, EPS $1.07 per share.

Period: the year ended December 31, 2022
Revenue: $138.8 million
Net income: $5.4 million
EPS: $1.07 per share
Result: reported results

Exact text from the filing

Full Year 2022 Highlights ● Revenue of $138.8 million, as compared to $139.6 million in 2021 ● Record GAAP net income of $5.4 million, compared to $2.8 million in 2021 ● Adjusted net income of $16.3 million or $1.07 per share, compared to $18.5 million or $1.24 per share in 2021 ● Record adjusted EBITDA of $22.2 million, an increase of $129,000 over $22.1 million in 2021

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CareCloud, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-006499

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