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TruBridge Inc. (TBRG+5.50%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $342.6 million for 2024, up from $336.0 million in 2023. This increase was primarily driven by growth in the Financial Health segment, which saw revenues rise to $217.7 million from $192.3 million the previous year.
Patient Care revenues decreased to $125.0 million from $143.6 million in 2023, largely due to the sale of American HealthTech, Inc. and the sunset of the Centriq platform.
The company reported a net loss of $20.4 million for 2024, an improvement from the net loss of $48.4 million in 2023. This was attributed to a decrease in operating expenses and the absence of goodwill impairment charges that were present in 2023.
Amortization and depreciation expenses increased to $29.0 million from $26.5 million in 2023, reflecting higher capitalized software development costs.
TruBridge's cash and cash equivalents increased to $12.3 million as of December 31, 2024, compared to $3.8 million at the end of 2023. This was due to improved cash flow from operations and proceeds from the sale of AHT.
The company completed the acquisition of Viewgol, LLC in October 2023, which contributed $20.0 million in revenues for 2024. No earnout payments were made to the former Viewgol shareholders as the EBITDA targets were not met.
TruBridge's long-term debt was reported at $172.8 million as of December 31, 2024, with interest rates tied to the Secured Overnight Financing Rate (SOFR).
The filing also details changes in the company's internal control over financial reporting, with ongoing efforts to remediate identified material weaknesses related to revenue recognition.
TruBridge's stock repurchase program expired on September 4, 2024, with no shares repurchased during the year. The company does not anticipate paying dividends in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TruBridge Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.