CareCloud Q1 revenue $26M, posts positive GAAP operating income for first time since 2022

CareCloud, Inc.

2024-Q1 EPS reported -$0.02 revenue$25,962,000

Revenue $26.0M (-13% YoY); GAAP operating income $129K vs loss $223K in Q1 2023.
GAAP net loss ($241K) or $(0.02) per share, improved from ($401K) or $(0.28) YoY.
Adjusted EBITDA $3.7M vs $4.2M; free cash flow $2.2M vs ($2.0M) YoY.
Annualized cost reductions identified ~$22M since Oct 2023; $15M expected in 2024.
Reiterated FY2024 guidance: revenue $118-120M, adjusted EBITDA $21-23M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CareCloud, Inc. reported the three months ended March 31, 2024 results: revenue $26.0 million, net income ($241,000) or $(0.02) per share. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $26.0 million
Net income: ($241,000) or $(0.02) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and health systems nationwide, today announced financial and operational results for the three months ended March 31, 2024. First Quarter 2024 Financial Highlights ● Revenue of $26.0 million, as compared to $30.0 million in Q1 2023 ● GAAP operating income of $129,000, as compared to operating loss of ($223,000) in Q1 2023 ● GAAP net loss of ($241,000) or $(0.02)

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Source: SEC EDGAR

accession 0001493152-24-019075

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