earnings
confidence high
sentiment positive
materiality 0.65
CareCloud Q2 GAAP net income $1.7M, first positive since 2022; adj EBITDA up 67%
CareCloud, Inc.
2024-Q2 EPS reported
-$0.24
revenue$54,052,000
- GAAP net income $1.7M in Q2 2024 vs net loss $1.8M in Q2 2023; adj net income $3.0M ($0.18/sh).
- Adjusted EBITDA $6.4M (23% of revenue), up 67% from $3.8M in Q2 2023.
- Revenue $28.1M, down 4% from $29.4M; H1 revenue $54.1M vs $59.4M.
- H1 free cash flow $4.9M, up 265% from $1.3M; credit facility balance cut to $2.5M (10% drawn).
- Identified ~$26M in annualized expense reductions since Oct 2023, $20M expected this year.