CareCloud acquisition of Medsphere reveals $16.9M net loss, going concern doubt

CareCloud, Inc.

Medsphere 2024 net loss of $16.9M on revenue of $39.4M, down 13.6% YoY from $45.6M.
Goodwill impairment of $5.1M and operating loss of $8.5M in 2024.
Cash and equivalents of $2.0M vs. total notes payable of $56.7M, $53.9M current.
Auditor issued going concern opinion citing insufficient cash to cover $53.6M past due notes.
Shareholders' deficit of ($49.3M) as of Dec 31, 2024; negative equity from accumulated losses.

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