secwatch.observer — SEC 8-K summary
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Issuer:     CareCloud, Inc. (CCLD)
CIK:        0001582982
Form:       8-K
Filed at:   2024-03-21T23:59:59+00:00
Accession:  0001493152-24-010726
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CareCloud FY2023 revenue $117.1M (-16% YoY), GAAP net loss $48.7M, suspends preferred dividends
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- FY2023 revenue $117.1M (down 16% YoY); GAAP net loss $48.7M vs net income $5.4M in 2022; adjusted net income $4.8M ($0.30/sh).
- Q4 2023 revenue $28.4M (-13% YoY); GAAP net loss $43.7M, including $42M goodwill impairment from preferred dividend suspension.
- Preferred monthly dividends suspended starting Dec 2023; dividends accrue in arrears; Board to review periodically.
- Cost reduction plan to improve annualized free cash flow by ~$18M, ~$13M in 2024; 2024 guidance: rev $118-120M, adj. EBITDA $21-23M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1582982/000149315224010726/0001493152-24-010726-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1582982/000149315224010726/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-010726

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