TruBridge Announces Third Quarter 2025 Results
MOBILE, Ala.–(BUSINESS WIRE)–TruBridge, Inc. (NASDAQ: TBRG), a leading provider of revenue cycle management and healthcare technology solutions for rural and community healthcare organizations, today announced financial results for the third quarter and nine months ended September 30, 2025.
Third Quarter 2025 Highlights
All comparisons are to the quarter ended September 30, 2024, unless otherwise noted
- Total bookings of $15.5 million compared to $21.0 million
-
Total revenue of $86.1 million compared to $84.7 million
- Recurring revenue represented 94% of total revenue
-
Financial Health revenue of $54.5 million compared to $54.7 million
- Financial Health revenue represented 63% of TruBridge’s total revenue
- GAAP net income of $5.6 million compared to a net loss of $9.1 million
- Non-GAAP net income of $12.8 million compared to a net loss of $3.1 million
- Adjusted EBITDA of $16.3 million compared to $14.7 million
Commenting on the results, Chris Fowler, chief executive officer at TruBridge, Inc., stated, “In the third quarter, we delivered solid revenue and achieved a 19% Adjusted EBITDA margin, further expanding profitability in a sustainable way that will allow for continued improvement over time. We’ve made significant progress over the past two years enhancing the financial performance of our business, meaningfully expanding margins, generating free cash flow, and de-levering the balance sheet.”
“Now that we successfully built a solid foundation and have proven our ability to execute on our financial objectives, we are applying the same disciplined approach to improving our performance across the business,” added Fowler. “As such, we continue to make leadership enhancements to ensure we have the most effective people on board. Most recently we hired a Chief Business Officer to oversee client-centered excellence, sales and marketing to drive growth. We have continued to bring in the right leadership, including the head of India operations to lead the restart of our offshore transition process. Together, these improvements will optimize our performance over time allowing us to achieve our strategic business objectives and deliver even greater EBITDA margins and free cash flow in the years to come.”
Financial Guidance
For the fourth quarter of 2025, TruBridge expects to generate:
- Total revenue of $86 million to $89 million
- Adjusted EBITDA of $16.5 million to $19.5 million
For the full year 2025, TruBridge expects to generate:
- Total revenue of $345 million to $348 million; revised from $345 million to $350 million
- Adjusted EBITDA of $65 million to $68 million; revised from $62 million to $67 million
Conference Call
TruBridge will hold a conference call and live webcast to discuss third quarter 2025 results on Friday, November 7, 2025, at 7:30 a.m. Central time/8:30 a.m. Eastern time. To access this interactive teleconference, dial (877) 407-0890 and request connection to the TruBridge earnings conference call. A 30-day online replay will be available approximately one hour following the conclusion of the live webcast. To listen to the live webcast or access the replay, visit the Company’s investor relations website, investors.trubridge.com.
About TruBridge
TruBridge proudly supports rural and community healthcare providers in their efforts to stay strong, independent, and deeply rooted in the communities they serve. Backed by more than 45 years of healthcare experience and trusted by over 1,500 clients nationwide, we offer a mix of technology, services, and strategic expertise — including revenue cycle management (RCM), electronic health records (EHR) and analytics — all designed singularly for the realities of rural and community healthcare. With a steadfast commitment to keeping care local, TruBridge helps hospitals flourish as the economic heart of their communities, delivering high-quality, deeply personal care close to home.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified generally by the use of forward-looking terminology and words such as “expects,” “anticipates,” “estimates,” “believes,” “predicts,” “intends,” “plans,” “potential,” “may,” “continue,” “should,” “will” and words of comparable meaning. Without limiting the generality of the preceding statement, all statements in this press release relating to the Company’s future financial and operational results are forward-looking statements. We caution investors that any such forward-looking statements are only predictions and are not guarantees of future performance. Certain risks, uncertainties and other factors may cause actual results to differ materially from those projected in the forward-looking statements. Such factors may include: saturation of our target market and hospital consolidations; unfavorable economic or market conditions that may cause a decline in spending for information technology and services; significant legislative and regulatory uncertainty in the healthcare industry; exposure to liability for failure to comply with regulatory requirements; transition to a subscription based recurring revenue model and modernization of our technology; competition with companies that have greater financial, technical and marketing resources than we have; potential future acquisitions that may be expensive, time consuming, and subject to other inherent risks; our ability to attract and retain qualified personnel in a global workforce; disruption from periodic restructuring of our sales force; slower than anticipated development of the market for Financial Health services; potential inability to properly manage growth in new markets we may enter; potential failure to effectively implement a new enterprise resource planning software solution; exposure to numerous and often conflicting laws, regulations, policies, standards or other requirements through our domestic and international business activities; potential litigation against us and investigations; our use of offshore third-party resources; competitive and litigation risk related to the use of artificial intelligence; potential failure to develop new products or enhance current products that keep pace with market demands; failure of our products to provide accurate and timely information for clinical decision-making; breaches of security and viruses in our systems resulting in customer claims against us and harm to our reputation; failure to maintain customer satisfaction through new product releases free of undetected errors or problems; failure to convince customers to migrate to current or future releases of our products; failure to maintain our margins and service rates; increase in the percentage of total revenues represented by service revenues, which have lower gross margins; exposure to liability in the event we provide inaccurate claims data to payors; exposure to liability claims arising out of the licensing of our software and provision of services; dependence on licenses of rights, products and services from third parties; failure to protect our intellectual property rights; exposure to significant license fees or damages for intellectual property infringement; interruptions in our power supply and/or telecommunications capabilities; potential inability to secure additional financing on favorable terms to meet our future capital needs; our substantial indebtedness, and our ability to incur additional indebtedness in the future; pressures on cash flow to service our outstanding debt; restrictive terms of our credit agreement on our current and future operations; changes in and interpretations of financial accounting matters that govern the measurement of our performance; significant charges to earnings if our goodwill or intangible assets become impaired; fluctuations in quarterly financial performance due to various factors; volatility in our stock price; failure to maintain effective internal control over financial reporting; inherent limitations in our internal control over financial reporting; vulnerability to significant damage from natural disasters; market risks related to interest rate changes; potential material adverse effects due to macroeconomic conditions; we do not anticipate paying dividends on our common stock; actions of activist stockholders against us; and other risk factors described from time to time in our public releases and reports filed with the Securities and Exchange Commission. We also caution investors that the forward-looking information described herein represents our outlook only as of this date, and we undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this press release.
| TruBridge, Inc. | |||||||||||||||
| Condensed Consolidated Statements of Operations | |||||||||||||||
| (In ‘000s, except per share data) | |||||||||||||||
| (Unaudited) | |||||||||||||||
|
|
|
|
|
|
|||||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|||||||||||||
|
2025 |
|
2024 * |
|
2025 |
|
2024 * |
|||||||||
| Revenues | |||||||||||||||
| Financial Health |
$ |
54,501 |
|
$ |
54,672 |
|
$ |
164,918 |
|
$ |
162,620 |
|
|||
| Patient Care |
|
31,605 |
|
|
30,028 |
|
|
94,125 |
|
|
91,796 |
|
|||
| Total revenues |
|
86,106 |
|
|
84,700 |
|
|
259,043 |
|
|
254,416 |
|
|||
| Expenses | |||||||||||||||
| Costs of revenue (exclusive of amortization and depreciation) | |||||||||||||||
| Financial Health |
|
29,335 |
|
|
29,185 |
|
|
85,835 |
|
|
89,051 |
|
|||
| Patient Care |
|
12,713 |
|
|
13,184 |
|
|
36,996 |
|
|
38,421 |
|
|||
| Total costs of revenue (exclusive of amortization and depreciation) |
|
42,048 |
|
|
42,369 |
|
|
122,831 |
|
|
127,472 |
|
|||
| Product development |
|
8,171 |
|
|
7,735 |
|
|
24,530 |
|
|
26,629 |
|
|||
| Sales and marketing |
|
5,673 |
|
|
5,944 |
|
|
19,123 |
|
|
20,351 |
|
|||
| General and administrative |
|
19,416 |
|
|
19,376 |
|
|
56,957 |
|
|
57,651 |
|
|||
| Amortization |
|
6,487 |
|
|
6,183 |
|
|
18,901 |
|
|
21,158 |
|
|||
| Depreciation |
|
243 |
|
|
279 |
|
|
846 |
|
|
1,079 |
|
|||
| Total expenses |
|
82,038 |
|
|
81,886 |
|
|
243,188 |
|
|
254,340 |
|
|||
| Operating income |
|
4,068 |
|
|
2,814 |
|
|
15,855 |
|
|
76 |
|
|||
| Other (expense) income : | |||||||||||||||
| Interest expense |
|
(3,003 |
) |
|
(4,033 |
) |
|
(9,450 |
) |
|
(12,348 |
) |
|||
| Other income (expense) |
|
287 |
|
|
(376 |
) |
|
566 |
|
|
1,139 |
|
|||
| Total other expense |
|
(2,716 |
) |
|
(4,409 |
) |
|
(8,884 |
) |
|
(11,209 |
) |
|||
| Income (loss) before taxes |
|
1,352 |
|
|
(1,595 |
) |
|
6,971 |
|
|
(11,133 |
) |
|||
| (Benefit from) provision for income taxes |
|
(4,250 |
) |
|
7,553 |
|
|
(1,670 |
) |
|
4,257 |
|
|||
| Net income (loss) |
$ |
5,602 |
|
$ |
(9,148 |
) |
$ |
8,641 |
|
$ |
(15,390 |
) |
|||
| Net income (loss) per common share—basic |
$ |
0.37 |
|
$ |
(0.61 |
) |
$ |
0.58 |
|
$ |
(1.04 |
) |
|||
| Net income (loss) per common share—diluted |
$ |
0.37 |
|
$ |
(0.61 |
) |
$ |
0.58 |
|
$ |
(1.04 |
) |
|||
| Weighted average shares outstanding used in per common share computations: | |||||||||||||||
| Basic |
|
14,527 |
|
|
14,323 |
|
|
14,474 |
|
|
14,290 |
|
|||
| Diluted |
|
14,527 |
|
|
14,323 |
|
|
14,474 |
|
|
14,290 |
|
|||
| *As described in the 2024 Annual Report, certain line items have been revised to correct an error related to the reversal of revenue from customers that was recognized improperly during 2023. These revisions increased revenue for the three and nine months ended September 30, 2024 by $0.9 million and $2.6 million, respectively. These revisions had no cash flow consequences. | |||||||||||||||
| TruBridge, Inc. | |||||||
| Condensed Consolidated Balance Sheets | |||||||
| (In ‘000s, except per share data) | |||||||
|
September 30, 2025 (Unaudited) |
|
December 31, 2024 |
|||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents |
$ |
19,920 |
|
$ |
12,324 |
|
|
| Accounts receivable, net of allowance for expected credit losses of $4,911 and $5,861 |
|
56,771 |
|
|
53,753 |
|
|
| Current portion of financing receivables, net of allowance for expected credit losses of $565 and $417 |
|
2,961 |
|
|
4,663 |
|
|
| Inventories |
|
351 |
|
|
767 |
|
|
| Prepaid income taxes |
|
8,602 |
|
|
2,886 |
|
|
| Prepaid expenses and other current assets |
|
13,521 |
|
|
15,275 |
|
|
| Assets held for sale |
|
445 |
|
|
606 |
|
|
| Total current assets |
|
102,571 |
|
|
90,274 |
|
|
| Property & equipment, net |
|
2,204 |
|
|
2,294 |
|
|
| Software development costs, net |
|
44,226 |
|
|
41,474 |
|
|
| Operating lease right-of-use assets |
|
2,391 |
|
|
3,092 |
|
|
| Financing receivables, less current portion, less allowance for expected credit losses of $233 and $21 |
|
64 |
|
|
232 |
|
|
| Other assets, less current portion |
|
7,820 |
|
|
7,786 |
|
|
| Intangible assets, net |
|
67,563 |
|
|
76,707 |
|
|
| Goodwill |
|
172,573 |
|
|
172,573 |
|
|
| Total assets |
$ |
399,412 |
|
$ |
394,432 |
|
|
| Liabilities & Stockholders’ Equity | |||||||
| Current liabilities | |||||||
| Accounts payable |
$ |
20,238 |
|
$ |
15,040 |
|
|
| Current portion of long-term debt |
|
2,980 |
|
|
2,980 |
|
|
| Deferred revenue |
|
8,197 |
|
|
10,653 |
|
|
| Accrued vacation |
|
5,091 |
|
|
4,770 |
|
|
| Income taxes payable |
|
798 |
|
|
3,538 |
|
|
| Other accrued liabilities |
|
16,445 |
|
|
15,994 |
|
|
| Total current liabilities |
|
53,749 |
|
|
52,975 |
|
|
| Long-term debt, less current portion |
|
161,363 |
|
|
168,598 |
|
|
| Operating lease liabilities, less current portion |
|
1,588 |
|
|
2,293 |
|
|
| Deferred tax liabilities |
|
2,354 |
|
|
1,871 |
|
|
| Total liabilities |
|
219,054 |
|
|
225,737 |
|
|
| Stockholders’ Equity | |||||||
| Common stock, $0.001 par value; 30,000 shares authorized; 15,690 and 15,522 shares issued |
|
15 |
|
|
15 |
|
|
| Additional paid-in capital |
|
206,164 |
|
|
201,066 |
|
|
| Retained deficit |
|
(6,311 |
) |
|
(14,952 |
) |
|
| Accumulated other comprehensive income |
|
(91 |
) |
|
45 |
|
|
| Treasury stock, 689 and 619 shares |
|
(19,419 |
) |
|
(17,479 |
) |
|
| Total stockholders’ equity |
|
180,358 |
|
|
168,695 |
|
|
| Total liabilities and stockholders’ equity |
$ |
399,412 |
|
$ |
394,432 |
|
|
| TruBridge, Inc. | |||||||
| Condensed Consolidated Statements of Cash Flows | |||||||
| (In ‘000s) | |||||||
| (Unaudited) | |||||||
|
|
|
|
|||||
|
Nine Months Ended September 30, |
|||||||
|
2025 |
|
2024 * |
|||||
| Operating activities: | |||||||
| Net income (loss) |
$ |
8,641 |
|
$ |
(15,390 |
) |
|
| Adjustments to net income (loss): | |||||||
| Provision for credit losses |
|
1,629 |
|
|
1,046 |
|
|
| Deferred taxes |
|
481 |
|
|
915 |
|
|
| Stock-based compensation |
|
5,098 |
|
|
3,698 |
|
|
| Depreciation |
|
846 |
|
|
1,079 |
|
|
| Gain on sale of business |
|
(53 |
) |
|
(1,221 |
) |
|
| Amortization of acquisition-related intangibles |
|
9,144 |
|
|
9,379 |
|
|
| Amortization of software development costs |
|
9,757 |
|
|
11,779 |
|
|
| Amortization of deferred finance costs |
|
390 |
|
|
320 |
|
|
| Change in fair value of contingent consideration |
|
– |
|
|
(1,044 |
) |
|
| Non-cash operating lease costs |
|
791 |
|
|
1,879 |
|
|
| (Gain) loss on disposal of property and equipment |
|
(120 |
) |
|
1,648 |
|
|
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable |
|
(4,317 |
) |
|
336 |
|
|
| Financing receivables |
|
1,570 |
|
|
(129 |
) |
|
| Inventories |
|
416 |
|
|
(449 |
) |
|
| Prepaid expenses and other assets |
|
(810 |
) |
|
3,228 |
|
|
| Accounts payable |
|
5,648 |
|
|
3,925 |
|
|
| Deferred revenue |
|
(2,456 |
) |
|
2,162 |
|
|
| Operating lease liabilities |
|
(807 |
) |
|
(1,415 |
) |
|
| Other liabilities |
|
712 |
|
|
(189 |
) |
|
| Income taxes, net |
|
(8,453 |
) |
|
282 |
|
|
| Net cash provided by operating activities |
|
28,107 |
|
|
21,839 |
|
|
| Investing activities: | |||||||
| Purchase of business, net of cash acquired |
|
– |
|
|
(664 |
) |
|
| Sale of business, net of cash and cash equivalent sold |
|
2,102 |
|
|
21,410 |
|
|
| Proceeds from sale of property and equipment |
|
300 |
|
|
– |
|
|
| Investment in software development |
|
(12,509 |
) |
|
(13,666 |
) |
|
| Purchases of property and equipment |
|
(839 |
) |
|
(1,277 |
) |
|
| Net cash (used in) provided by investing activities |
|
(10,946 |
) |
|
5,803 |
|
|
| Financing activities: | |||||||
| Payments of long-term debt principal |
|
(2,625 |
) |
|
(6,625 |
) |
|
| Proceeds from revolving line of credit |
|
15,368 |
|
|
23,765 |
|
|
| Payments of revolving line of credit |
|
(20,368 |
) |
|
(39,072 |
) |
|
| Debt issuance cost |
|
– |
|
|
(529 |
) |
|
| Treasury stock purchases |
|
(1,940 |
) |
|
(402 |
) |
|
| Net cash used in financing activities |
|
(9,565 |
) |
|
(22,863 |
) |
|
| Increase in cash and cash equivalents |
|
7,596 |
|
|
4,779 |
|
|
| Change in cash and cash equivalents included in assets sold |
|
– |
|
|
(41 |
) |
|
| Cash and cash equivalents, beginning of period |
|
12,324 |
|
|
3,848 |
|
|
| Cash and cash equivalents, end of period |
$ |
19,920 |
|
$ |
8,586 |
|
|
| *As described in the 2024 Annual Report, certain line items have been revised to correct an error related to the reversal of revenue from customers that was recognized improperly during 2023. These revisions increased revenue for the nine months ended September 30, 2024 by $2.6 million. These revisions had no cash flow consequences. | |||||||
| TruBridge, Inc. | |||||||||||
| Consolidated Bookings | |||||||||||
| (In ‘000s) | |||||||||||
| (Unaudited) | |||||||||||
|
|
|
|
|
|
|||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|||||||||
| In ‘000s |
2025 |
2024 |
|
2025 |
2024 |
||||||
| Financial Health(1) |
$ |
9,507 |
$ |
12,496 |
$ |
35,992 |
$ |
40,346 |
|||
| Patient Care(2) |
|
5,996 |
|
8,454 |
|
27,105 |
|
27,464 |
|||
| Total Bookings |
$ |
15,503 |
$ |
20,950 |
$ |
63,097 |
$ |
67,810 |
|||
|
(1) |
Generally calculated as the annual contract value | ||||||||||
|
(2) |
Generally calculated as the total contract value for system sales and SaaS, and annual contract value for maintenance and support | ||||||||||
| Annual Contract Value | |||||||||||
| Effective January 2025, the Company will be providing bookings on an Annual Contract Value (“ACV”) basis in addition to the reported bookings amounts, which has historically represented a mix of ACV and Total Contract Value (“TCV”) for Patient Care. This new methodology of reporting total bookings at ACV represents the newly contracted revenue that is expected to be recognized over a twelve-month period. Over the course of 2025, the Company will be providing total bookings under both methodologies for year over year comparability before fully transitioning to ACV in 2026. | |||||||||||
| The below table represents bookings at the ACV methodology for the three and nine months ended September 30, 2025: | |||||||||||
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
||||||||||
| In ‘000s |
2025 |
2025 |
|||||||||
| Financial Health |
$ |
9,507 |
$ |
35,992 |
|||||||
| Patient Care |
|
5,545 |
|
16,026 |
|||||||
| Total Bookings (ACV) |
$ |
15,052 |
$ |
52,018 |
|||||||
| TruBridge, Inc. | ||||||||||||
| Bookings Composition | ||||||||||||
| (In ‘000s, except per share data) | ||||||||||||
| (Unaudited) | ||||||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||
| In ‘000s |
2025 |
2024 |
|
2025 |
2024 |
|||||||
| Financial Health | ||||||||||||
| Net new(1) |
$ |
1,635 |
$ |
6,112 |
$ |
13,164 |
$ |
21,559 |
||||
| Cross-sell(1) |
|
7,872 |
|
6,384 |
|
22,828 |
|
18,787 |
||||
| Patient Care | ||||||||||||
| Non-subscription sales(2) |
|
3,941 |
|
5,006 |
|
9,273 |
|
12,540 |
||||
| Subscription revenue(3) |
|
2,055 |
|
3,448 |
|
17,832 |
|
14,924 |
||||
| Total Bookings |
$ |
15,503 |
$ |
20,950 |
$ |
63,097 |
$ |
67,810 |
||||
|
(1) |
“Net new” represents bookings from outside the Company’s core client base, and “Cross-sell” represents bookings from existing customers. In each case, such bookings are generally comprised of recurring revenues to be recognized ratably over a one-year period and an average timeframe for bookings-to-revenue conversion of four to six months following contract execution. | |||||||||||
|
(2) |
Represents nonrecurring revenues that generally exhibit a timeframe for bookings-to-revenue conversion of five to six months following contract execution. | |||||||||||
|
(3) |
Represents recurring revenues to be recognized on a monthly basis over a weighted-average contract period of five years, with a start date in the next 12 months and an average timeframe for commencement of bookings-to-revenue conversion of five to six months following contract execution. | |||||||||||
| Annual Contract Value | ||||||||||||
| Effective January 2025, the Company will be providing bookings on an Annual Contract Value (“ACV”) basis in addition to the reported bookings amounts, which has historically represented a mix of ACV and Total Contract Value (“TCV”) for Patient Care. This new methodology of reporting total bookings at ACV represents the newly contracted revenue that is expected to be recognized over a twelve-month period. Over the course of 2025, the Company will be providing total bookings under both methodologies for year over year comparability before fully transitioning to ACV in 2026. | ||||||||||||
| The below table represents bookings at the ACV methodology for the three and nine months ended September 30, 2025: | ||||||||||||
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||
| In ‘000s |
2025 |
2025 |
||||||||||
| Financial Health | ||||||||||||
| Net new(1) |
$ |
1,635 |
$ |
13,164 |
||||||||
| Cross-sell(1) |
|
7,872 |
|
22,828 |
||||||||
| Patient Care | ||||||||||||
| Non-subscription sales(2) |
|
3,941 |
|
9,274 |
||||||||
| Subscription revenue(3) |
|
1,604 |
|
6,752 |
||||||||
| Total Bookings (ACV) |
$ |
15,052 |
$ |
52,018 |
||||||||
| TruBridge, Inc. | ||||||||
| Adjusted EBITDA – by Segment | ||||||||
| (In ‘000s) | ||||||||
| (Unaudited) (Non-GAAP) | ||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||
| In ‘000s |
2025 |
2024 * |
|
2025 |
2024 * |
|||
| Financial Health |
$ |
8,872 |
9,964 |
$ |
27,244 |
$ |
24,970 |
|
| Patient Care |
|
7,400 |
4,728 |
|
21,001 |
|
13,490 |
|
| Total Adjusted EBITDA |
$ |
16,272 |
14,692 |
$ |
48,245 |
$ |
38,460 |
|
| *As described in the 2024 Annual Report, certain line items have been revised to correct an error related to the reversal of revenue from customers that was recognized improperly during 2023. These revisions increased revenue for the three and nine months ended September 30, 2024 by $0.9 million and $2.6 million, respectively. These revisions had no cash flow consequences. | ||||||||
| TruBridge, Inc. | |||||||||||||||||
| Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||
| (In ‘000s) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|||||||||||||||
| Adjusted EBITDA: |
2025 |
|
2024 * |
|
2025 |
|
2024 * |
||||||||||
| Net income (loss), as reported |
$ |
5,602 |
|
$ |
(9,148 |
) |
$ |
8,641 |
|
$ |
(15,390 |
) |
|||||
| Net Income (Loss) Margin |
|
6.5 |
% |
|
(10.8 |
%) |
|
3.3 |
% |
|
(6.0 |
%) |
|||||
| (Benefit from) provision for income taxes |
|
(4,250 |
) |
|
7,553 |
|
|
(1,670 |
) |
|
4,257 |
|
|||||
| Income (loss) before taxes, as reported |
|
1,352 |
|
|
(1,595 |
) |
|
6,971 |
|
|
(11,133 |
) |
|||||
| Depreciation expense |
|
243 |
|
|
279 |
|
|
846 |
|
|
1,079 |
|
|||||
| Amortization of software development costs |
|
3,440 |
|
|
3,057 |
|
|
9,757 |
|
|
11,779 |
|
|||||
| Amortization of acquisition-related intangibles |
|
3,046 |
|
|
3,126 |
|
|
9,144 |
|
|
9,379 |
|
|||||
| Stock-based compensation |
|
1,788 |
|
|
1,398 |
|
|
5,098 |
|
|
3,698 |
|
|||||
| Severance and other nonrecurring charges |
|
3,687 |
|
|
4,018 |
|
|
7,545 |
|
|
12,449 |
|
|||||
| Interest expense and other, net |
|
2,716 |
|
|
3,777 |
|
|
9,057 |
|
|
11,826 |
|
|||||
| Change in fair value of contingent consideration |
|
– |
|
|
(1,044 |
) |
|
– |
|
|
(1,044 |
) |
|||||
| Loss (gain) on disposal of property and equipment |
|
– |
|
|
1,648 |
|
|
(120 |
) |
|
1,648 |
|
|||||
| Loss (gain) on sale of AHT |
|
– |
|
|
28 |
|
|
(53 |
) |
|
(1,221 |
) |
|||||
| Total Adjusted EBITDA |
$ |
16,272 |
|
$ |
14,692 |
|
$ |
48,245 |
|
$ |
38,460 |
|
|||||
| Adjusted EBITDA Margin |
|
18.9 |
% |
|
17.3 |
% |
|
18.6 |
% |
|
15.1 |
% |
|||||
| *As described in the 2024 Annual Report, certain line items have been revised to correct an error related to the reversal of revenue from customers that was recognized improperly during 2023. These revisions increased revenue for the three and nine months ended September 30, 2024 by $0.9 million and $2.6 million, respectively. These revisions had no cash flow consequences. | |||||||||||||||||
| TruBridge, Inc. | |||||||||||||||||
| Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||
| (In ‘000s, except per share data) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|||||||||||||||
| Non-GAAP Net Income (Loss) and Non-GAAP EPS: |
2025 |
|
2024 * |
|
2025 |
|
2024 * |
||||||||||
| Net income (loss), as reported |
$ |
5,602 |
|
$ |
(9,148 |
) |
$ |
8,641 |
|
$ |
(15,390 |
) |
|||||
| Pre-tax adjustments for Non-GAAP EPS: | |||||||||||||||||
| Amortization of acquisition-related intangible assets |
|
3,046 |
|
|
3,126 |
|
|
9,144 |
|
|
9,379 |
|
|||||
| Stock-based compensation |
|
1,788 |
|
|
1,398 |
|
|
5,098 |
|
|
3,698 |
|
|||||
| Severance and other nonrecurring charges |
|
3,687 |
|
|
4,018 |
|
|
7,545 |
|
|
12,449 |
|
|||||
| Non-cash interest expense |
|
130 |
|
|
107 |
|
|
390 |
|
|
320 |
|
|||||
| (Gain) loss on sale of AHT |
|
– |
|
|
28 |
|
|
(53 |
) |
|
(1,221 |
) |
|||||
| Change in fair value of contingent consideration |
|
– |
|
|
(1,044 |
) |
|
– |
|
|
(1,044 |
) |
|||||
| After-tax adjustments for Non-GAAP EPS: | |||||||||||||||||
| Tax-effect of pre-tax adjustments, at 21% |
|
(1,441 |
) |
|
(1,603 |
) |
|
(3,575 |
) |
|
(4,952 |
) |
|||||
| Tax windfall from stock-based compensation |
|
– |
|
|
13 |
|
|
(670 |
) |
|
126 |
|
|||||
| Non-GAAP net income (loss) |
$ |
12,812 |
|
$ |
(3,105 |
) |
$ |
26,520 |
|
$ |
3,365 |
|
|||||
| Weighted average shares outstanding, diluted |
|
14,527 |
|
|
14,323 |
|
|
14,474 |
|
|
14,290 |
|
|||||
| Non-GAAP EPS |
$ |
0.88 |
|
$ |
(0.22 |
) |
$ |
1.83 |
|
$ |
0.24 |
|
|||||
| *As described in the 2024 Annual Report, certain line items have been revised to correct an error related to the reversal of revenue from customers that was recognized improperly during 2023. These revisions increased revenue for the three and nine months ended September 30, 2024 by $0.9 million and $2.6 million, respectively. These revisions had no cash flow consequences. | |||||||||||||||||
| TruBridge, Inc. | |||||||||||||
| Revenue Composition | |||||||||||||
| (In ‘000s) | |||||||||||||
| (Unaudited) | |||||||||||||
|
|
|
|
|
|
|
|
|||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|||||||||||
|
2025 |
|
2024 * |
|
2025 |
|
2024 * |
|||||||
| Recurring revenues | |||||||||||||
| Financial Health |
$ |
53,514 |
$ |
53,513 |
$ |
162,100 |
$ |
158,426 |
|||||
| Patient Care |
|
27,425 |
|
27,052 |
|
82,988 |
|
82,730 |
|||||
| Total recurring revenues |
|
80,939 |
|
80,565 |
|
245,088 |
|
241,156 |
|||||
| Non-recurring revenues | |||||||||||||
| Financial Health |
|
987 |
|
1,159 |
|
2,818 |
|
4,194 |
|||||
| Patient Care |
|
4,180 |
|
2,976 |
|
11,137 |
|
9,066 |
|||||
| Total non-recurring revenues |
|
5,167 |
|
4,135 |
|
13,955 |
|
13,260 |
|||||
| Total revenues |
$ |
86,106 |
$ |
84,700 |
$ |
259,043 |
$ |
254,416 |
|||||
| *As described in the 2024 Annual Report, certain line items have been revised to correct an error related to the reversal of revenue from customers that was recognized improperly during 2023. These revisions increased revenue for the three and nine months ended September 30, 2024 by $0.9 million and $2.6 million, respectively. These revisions had no cash flow consequences. | |||||||||||||
Contacts
Investor Relations Contact
Asher Dewhurst, ICR Healthcare
TBRGIR@icrhealthcare.com
Media Contact
Tracey Schroeder
Chief Marketing Officer
Tracey.schroeder@trubridge.com
