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CareCloud, Inc. - CCLD STOCK NEWS

Welcome to our dedicated page for CareCloud news (Ticker: CCLD), a resource for investors and traders seeking the latest updates and insights on CareCloud stock.

CareCloud, Inc. (CCLD) is a leading healthcare information technology company specializing in delivering innovative, cloud-based solutions tailored for high-growth medical groups. Recognized for its award-winning design, CareCloud's technology empowers medical professionals to enhance patient care while optimizing operational efficiency.

CareCloud offers a comprehensive suite of proprietary Software-as-a-Service (SaaS) platforms, including practice management (PM), electronic health records (EHR), business intelligence, telehealth, and patient experience management (PXM) solutions. Additionally, the company provides robotic process automation (RPA) bots, and complementary business services such as revenue cycle management (RCM), healthcare consulting, implementation services, and on-demand workforce staffing capabilities. These tools are designed to support high-performance medical groups and health systems across the nation.

As an early leader in healthcare cloud computing, CareCloud is committed to ensuring the highest levels of flexibility, security, and reliability for both physicians and patients. The company's modern and intuitive platform allows medical practices to focus on what matters most: patient health and delivering an exceptional patient experience.

CareCloud's core operating segments include Healthcare IT, which is the primary revenue driver, and Practice Management. The company's cloud platform provides medical groups with the essential tools they need to succeed in today's competitive medical economy.

Recent achievements include expanding its technological capabilities and forming strategic partnerships to enhance service offerings. CareCloud consistently updates its solutions to meet the evolving needs of the healthcare industry.

Follow CareCloud's latest news and updates on their official LinkedIn, Twitter, and Facebook pages.

For investor inquiries, contact Bill Korn at ir@carecloud.com.

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CareCloud (NASDAQ: CCLD) announced a strategic leadership realignment effective January 1, 2025, appointing A. Hadi Chaudhry and Stephen Snyder as Co-CEOs, and Crystal Williams as President. The restructuring aims to focus on technology innovation, revenue growth, and client experience enhancement.

The company reported strong performance in 2024, achieving positive GAAP income and a 50% year-over-year increase in adjusted EBITDA. Notable achievements include significant free cash flow growth enabling full repayment of their credit line in the first nine months. The company's common stock has experienced a 300% surge over the past year.

Under the new structure, Chaudhry will lead technology and AI strategies, Snyder will drive acquisitive and organic growth, while Williams will focus on client experience and wallet share expansion.

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CareCloud (Nasdaq: CCLD) has announced a proxy solicitation from common stock shareholders to approve an increase in authorized shares from 35 million to 85 million. The proposal aims to support growth initiatives and enable potential conversion of Series A Preferred Stock to Common Stock.

The company's board and executive team, owning over 38% of Common Stock, support this initiative. CareCloud has demonstrated strong performance with a 23% CAGR over the past decade, generated over $10 million in free cash flow, and achieved a 50% year-over-year increase in adjusted EBITDA during the first three quarters of 2024.

A Special Meeting of Common Stock Shareholders is scheduled for January 27, 2025, with a record date of December 3, 2024. Shareholders can vote through e-voting, mail, or by attending the meeting.

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CareCloud (CCLD) reported Q3 2024 financial results with GAAP net income of $3.1 million, compared to a net loss of $2.7 million in Q3 2023. Revenue was $28.5 million, down 2.5% year-over-year. The company achieved record free cash flow of $5.4 million, up 405% from Q3 2023. Key highlights include fully paying off their Silicon Valley Bank credit facility, plans to resume preferred stock dividends in March 2025, and increased adjusted EBITDA guidance to $23-$25 million for FY2024. Year-to-date revenue was $82.6 million with adjusted EBITDA of $16.9 million, up 50% from the previous year.

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CareCloud (Nasdaq: CCLD) announced the complete payoff of its Silicon Valley Bank credit facility line, achieving a key 2024 objective ahead of schedule. Starting 2024 with a $10 million outstanding balance, the company cleared the debt by Q3 end. Additionally, CareCloud secured reduced borrowing fees and lowered its revolving credit facility limit, resulting in approximately $140,000 in annual savings. The company maintains an unused, available credit facility line of $10 million under the Ninth Loan Modification Agreement dated October 25, 2024.

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CareCloud (Nasdaq: CCLD), a healthcare technology and generative AI solutions provider, has scheduled its third quarter 2024 financial results release for November 12, 2024, before market opening. The company will host an investor conference call at 8:30 a.m. Eastern Time the same day. Investors can access the live webcast and presentation slides at ir.carecloud.com/events, or join via audio-only by dialing 201-389-0920. A replay will be available approximately one hour after the call's conclusion.

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CareCloud, Inc. (Nasdaq: CCLD) has announced a strategic partnership with ChartSwap to launch 'CareCloud Powered by ChartSwap', a new solution aimed at streamlining the Request for Information (ROI) process in healthcare. This collaboration will enable ChartSwap to serve as the dedicated portal for handling medical records requests at CareCloud provider locations.

Key benefits of the partnership include:

  • Seamless request handling through a centralized portal
  • Enhanced security and compliance with privacy standards
  • Improved efficiency for providers by reducing administrative burden
  • Real-time transparency and tracking for requestors

The partnership aims to simplify practice management, allowing healthcare providers to focus more on patient care while ensuring efficient and secure management of medical records requests.

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CareCloud, Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a leading healthcare technology solutions provider, has announced the approval of its Series A Preferred Stock Proposal at a reconvened special meeting. Shareholders representing over two-thirds of the outstanding Series A Preferred Stock approved the proposal, which includes an amendment to the Company's Certificate of Designations, Preferences and Rights of its Series A Preferred Stock.

The approval marks a significant development for CareCloud, potentially impacting its capital structure and shareholder rights. Investors are advised to review the complete Definitive Proxy Statement and related materials filed with the SEC for comprehensive details about the changes and their implications.

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CareCloud, Inc. (Nasdaq: CCLD) announced that it has obtained approximately 99% of the minimum required 'FOR' votes by proxy for its Series A Preferred Stock Proposal. The company has received supportive proxy indications from over 2.97 million shares, nearing the required 3.02 million share threshold. If approved, the proposal would grant Series A Preferred Stock holders similar change of control protections as Series B Preferred Stock holders, align dividend structures, and allow the company to exchange Series A shares for common stock at $25/share plus accrued dividends.

The Special Meeting is scheduled for September 11, 2024, but may be adjourned if more time is needed for vote solicitation. Shareholders can still submit voting instructions through various methods. CareCloud emphasizes the importance of reviewing the full Definitive Proxy Statement and related SEC filings for complete information.

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CareCloud (Nasdaq: CCLD) announced that 89% of proxies returned for the Series A Preferred Stock special meeting support the Preferred Stock Proposal. The meeting is rescheduled for September 11, 2024. With 87.8% of the required 3.02 million proxy votes received, the company is close to approval. If passed, Series A Preferred Stock holders would gain change of control protections similar to Series B holders, and the dividend would mirror Series B Preferred Stock. The company would also gain the right to exchange Series A shares for common stock at $25/share plus accrued dividends. While optimistic, CareCloud cannot predict final voting results, and unvoted shares count as 'no' votes.

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CareCloud Inc (Nasdaq: CCLD) reported its Q2 2024 financial results, showing improvements in profitability and cash flow. Key highlights include:

- GAAP net income of $1.7 million, compared to a net loss of $1.8 million in Q2 2023
- Adjusted EBITDA of $6.4 million, up 67% from Q2 2023
- Revenue of $28.1 million, slightly down from $29.4 million in Q2 2023
- Year-to-date free cash flow of $4.9 million, a 265% increase from the same period last year

The company has identified $26 million in annualized expense reductions and reduced its credit facility balance to $2.5 million. CareCloud aims to further improve profitability and eliminate debt in the coming months.

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FAQ

What is the current stock price of CareCloud (CCLD)?

The current stock price of CareCloud (CCLD) is $3.7 as of December 23, 2024.

What is the market cap of CareCloud (CCLD)?

The market cap of CareCloud (CCLD) is approximately 58.2M.

What does CareCloud, Inc. specialize in?

CareCloud, Inc. specializes in providing cloud-based healthcare information technology solutions for high-growth medical groups.

What services does CareCloud offer?

CareCloud offers services including practice management, electronic health records, business intelligence, telehealth, patient experience management, robotic process automation, revenue cycle management, healthcare consulting, implementation, and on-demand workforce staffing.

What are the core operating segments of CareCloud?

The core operating segments of CareCloud are Healthcare IT, which generates the most revenue, and Practice Management.

How does CareCloud support healthcare providers?

CareCloud supports healthcare providers by offering flexible, secure, and reliable cloud-based platforms that help improve patient care and operational efficiency.

What recent achievements has CareCloud made?

CareCloud has expanded its technological capabilities and formed strategic partnerships to enhance its service offerings.

Where can I follow CareCloud's latest updates?

You can follow CareCloud's latest updates on their LinkedIn, Twitter, and Facebook pages.

Who can I contact for investor inquiries at CareCloud?

For investor inquiries, you can contact Bill Korn at ir@carecloud.com.

What makes CareCloud's platform unique?

CareCloud's platform is unique due to its award-winning, intuitive design that allows medical practices to focus more on patient care and less on administrative tasks.

What is CareCloud's commitment to security?

CareCloud is committed to providing the highest levels of security and reliability for both physicians and patients through its cloud-based solutions.

How does CareCloud enhance patient experience?

CareCloud enhances patient experience through its modern, flexible, and secure technology platforms that help medical practices deliver better care and improved patient satisfaction.

CareCloud, Inc.

Nasdaq:CCLD

CCLD Rankings

CCLD Stock Data

58.20M
8.54M
47.32%
10.83%
0.31%
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