secwatch.observer — SEC 8-K summary
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Issuer:     CareCloud, Inc. (CCLD)
CIK:        0001582982
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001493152-23-039076
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CareCloud Q3 revenue falls 13% to $29.3M; GAAP net loss $2.7M; maintains FY guidance
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- Revenue $29.3M, down 13% YoY; GAAP net loss $2.7M vs net income $1.1M in Q3 2022.
- Adjusted EBITDA $3.2M (11% of revenue) vs $4.8M in Q3 2022; adj. net income $203k ($0.01/share).
- Full-year 2023 guidance reaffirmed: revenue $120-122M, adj. EBITDA $15-17M.
- Company plans cost reductions to improve free cash flow by $10M annualized; launched CirrusAI generative AI platform.
- Cash at Sep 30: $6.4M; net working capital $5.5M; YTD adj. EBITDA $11.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1582982/000149315223039076/0001493152-23-039076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1582982/000149315223039076/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-039076

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer