Revenue Growth in Q1 2025
CareCloud reported revenue of $27.6 million for Q1 2025, up from $26 million in the same period last year, indicating ongoing demand for their integrated AI-enabled RCM solutions.
Significant Increase in GAAP Net Income
The company reported a GAAP net income of $1.9 million, a considerable improvement from a net loss of $241,000 in Q1 2024.
Adjusted EBITDA Growth
Adjusted EBITDA rose to $5.6 million, up 52% year-over-year, highlighting successful cost management and operational efficiency.
Series A Preferred Stock Conversion
The conversion of Series A preferred stock into common stock reduced dividend obligations from $3.9 million to $1.5 million per quarter, enhancing financial flexibility.
Launch of AI Center of Excellence
CareCloud launched an AI Center of Excellence, aiming to expand to 500 AI professionals by the end of the year, focusing on various AI-driven healthcare automation initiatives.
Strategic Acquisitions
Completed acquisitions of MesaBilling and RevNu Medical Management, expected to be accretive within 90 days, marking a return to M&A activities.