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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, CCLDP, CCLDO) announced its Q1 2024 financial results, reporting $26 million in revenue, down from $30 million in Q1 2023.

Despite lower revenue, the company achieved a GAAP operating income of $129,000, compared to a $223,000 loss in the previous year.

Net loss improved to $241,000 or $0.02 per share, from $401,000 or $0.28 per share in Q1 2023. Adjusted EBITDA fell to $3.7 million from $4.2 million, but cash from operations surged to $4.1 million from $1.0 million, and free cash flow reached $2.2 million, a significant improvement from a negative $2.0 million in Q1 2023.

Operationally, CareCloud identified $22 million in annualized expense reductions, with $15 million expected this year, and repaid $2 million of its credit facility.

The company is also leveraging generative AI to enhance efficiencies. CEO A. Hadi Chaudhry expressed optimism about the financial direction, highlighting improvements in cash flow metrics and profitability.

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CareCloud, Inc. received an unsolicited offer to acquire the company for $5.00 per share of common stock and $25 redemption price per share of its Series B Preferred Stock. The Board of Directors declined the offer after thorough evaluation and retained an investment bank to assess the terms of its Series A Preferred Stock.

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CareCloud, Inc. has retained Citizens JMP as its exclusive capital structure advisor after receiving an unsolicited indication of interest to acquire the company. The Board of Directors declined the proposal and Citizens JMP will evaluate CareCloud's capital structure for potential modifications to its Series A Preferred Stock.

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CareCloud, Inc. partners with NJ Comprehensive Healthcare to enhance operational efficiency and reduce costs. NJCH adopts CareCloud's talkUltimate suite for revenue cycle management, electronic health records, and practice management solutions, aiming to streamline processes and boost workflow efficiency.

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CareCloud, Inc. will announce its first-quarter 2024 financial results on May 14, 2024. The company is a prominent provider of healthcare technology solutions in the medical industry. The results will be disclosed before the market opens, followed by an investor conference call at 8:30 a.m. Eastern Time. Interested parties can access the live webcast and presentation slides on the company's investor relations website. A replay will also be available shortly after the call.

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CareCloud, Inc. will showcase its cutting-edge healthcare technology solutions at the 2024 Kansas MGMA Conference. The company aims to transform revenue cycle management and enhance patient engagement in the healthcare industry. Key highlights include CareCloud Concierge, a technology-enabled RCM solution, and CareCloud's cirrusAI Notes, a healthcare documentation tool. Crystal Williams, VP Client Operations, invites attendees to explore their innovative products.
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CareCloud, Inc. announces medSR division's participation at Becker’s Annual Conference to showcase healthcare IT consulting services. Dwight Garvin highlights the importance of technological advancements in healthcare for superior patient care.
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CareCloud, Inc. has been awarded Best Medical Billing Software of 2024 by SelectHub, with their product CareCloud Central receiving an exceptional analyst rating of 96. The company also won awards for 'Best Overall' and 'Best for Medical Coding' categories, solidifying its leadership in the healthcare technology sector.
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CareCloud, Inc. announces that Jersey Hydreight has chosen CareCloud’s talkUltimate to enhance patient experience and streamline administrative processes. Hydreight, a provider of medical treatments, selected talkUltimate for its integrated suite of RCM, EHR, and PM solutions. The decision was driven by the need to address financial and operational challenges effectively.
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CareCloud, Inc. reported financial results for 2023, highlighting a revenue decline to $117.1 million, a net loss of $48.7 million, and adjusted EBITDA of $15.4 million. The company aims to enhance liquidity through cost reductions, with an anticipated $18 million improvement in free cash flow. Despite challenges, CareCloud looks to leverage AI for operational efficiency and competitive edge. The Board suspended dividends for Series A and B Preferred Stock but plans to review profitability to potentially resume payments. CareCloud forecasts revenue of $118-$120 million and adjusted EBITDA of $21-$23 million for 2024.
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FAQ

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

The current stock price of CareCloud (CCLD) is $2.8 as of January 14, 2025.

What is the market cap of CareCloud (CCLD)?

The market cap of CareCloud (CCLD) is approximately 46.8M.

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

46.82M
8.58M
47.32%
10.83%
0.31%
Health Information Services
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United States of America
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