Q4 2024 CareCloud Inc Earnings Call Transcript
Key Points
- CareCloud Inc (CCLD) achieved record-breaking profitability in 2024, with adjusted EBITDA rising by 56% year-over-year to $24.1 million.
- The company reported a significant increase in free cash flow, reaching $13.2 million, a year-over-year increase of nearly 250%.
- CareCloud Inc (CCLD) successfully converted Series A preferred shares into common stock, simplifying its capital structure and eliminating dividend obligations.
- The company anticipates positive earnings per share in 2025 for the first time since going public in 2014, reflecting strong business transformation and operational discipline.
- CareCloud Inc (CCLD) is leveraging AI-driven solutions to enhance provider efficiency, reduce administrative burdens, and optimize patient outcomes, positioning itself for sustained innovation and growth.
- Despite achieving record profitability, CareCloud Inc (CCLD) experienced a modest decline in revenue for 2024.
- The company has not completed a significant acquisition in almost four years, which may impact growth opportunities.
- There is a natural attrition in the client base due to consolidation of practices and provider retirements, which needs to be offset by new client acquisitions.
- Some sellers in the acquisition market continue to have inflated expectations, which could pose challenges for CareCloud Inc (CCLD) in pursuing value-driven acquisitions.
- The company faces the challenge of maintaining profitability while investing in innovation and expanding its offerings in a competitive market.
Greetings and welcome to the CareCloud fourth-quarter 2024 results call. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Kristen Rothe, Corporate Counsel for CareCloud. Thank you. You may begin.
Good morning everyone. Welcome to CareCloud's fourth-quarter 2024 conference call. On today's call are Mahmud Haq, our Founder and Executive Chairman; Hadi Chowdhury, our Co-Chief Executive Officer and director; Stephen Schneider, our Co-Chief Executive Officer; and Norman Roth, our Interim Chief Financial Officer and Corporate Controller.
Before we begin, I would like to remind you that certain statements made during this conference call are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended in Section 21 E of the Securities Exchange Act of 1934 as amended.
All statements other than statements of historical fact made during this conference
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