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CareCloud, Inc. (Nasdaq: CCLD, CCLDP, CCLDO) is a healthcare information technology company that provides technology-enabled business solutions and Software-as-a-Service (SaaS) offerings to healthcare providers, medical practices, hospitals, and health systems across the United States. The company focuses on improving financial and operational performance, streamlining clinical workflows, and enhancing the patient experience. Its offerings include a wide range of integrated solutions such as revenue cycle management, electronic health records, and patient experience management tools.
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Healthcare IT - Provides technology-enabled business solutions, including revenue cycle management (RCM), SaaS solutions, and other services to optimize financial and operational performance.
- Sub-products: Revenue cycle management, practice management, electronic health records, patient experience management, artificial intelligence tools, business intelligence and analytics, telehealth, and interoperability solutions.
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Medical Practice Management - Manages medical practices by providing facilities, equipment, supplies, and administrative support to enhance operational efficiency.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
A. Hadi Chaudhry Executive | President & CEO | None | Joined CareCloud in 2002, held various leadership roles including CIO and VP of Global Operations. Became President in 2018 and CEO in 2021. Led the launch of CirrusAI and strategic cost reductions. | |
Crystal Williams Executive | President | None | Joined CareCloud in 2020 as VP of Operations. Promoted to COO in 2024 and President in January 2025. Focuses on client satisfaction, operational excellence, and AI-driven solutions. | |
Norman Roth Executive | Interim CFO & Controller | None | Joined CareCloud in 2014 as Controller and Principal Accounting Officer. Appointed Interim CFO in January 2024. Played a key role in financial operations and cost-saving initiatives. | |
Stephen Snyder Executive | Co-CEO | None | Joined CareCloud in 2005. Held various roles including COO, CEO, and Chief Strategy Officer. Returned as President in 2024 and became Co-CEO in January 2025. | |
Anne M. Busquet Board | Director | President of AMB Advisors; Board Member at Pitney Bowes and Elior Group | Joined CareCloud's Board in 2014. Chairperson of the Audit Committee. Extensive experience in executive roles at American Express and IAC. | |
Cameron Munter Board | Director | Senior Fellow at CEVRO Institute; Non-resident Senior Fellow at Atlantic Council | Joined CareCloud's Board in 2013. Chairman of the Nominating and Governance Committee. Former U.S. Ambassador to Pakistan and Serbia. | |
John N. Daly Board | Director | President of IMMS, LLC | Joined CareCloud's Board in 2013. Chairman of the Compensation Committee and member of the Audit Committee. Over 50 years of experience in financial services, including leadership roles at E.F. Hutton and Salomon Brothers. | |
Lawrence Sharnak Board | Director | Advisor at Cinch Board Services | Joined CareCloud's Board in 2020. Extensive leadership experience at American Express, including founding employee networks and diversity initiatives. | |
Mahmud Haq Board | Executive Chairman | None | Founder of CareCloud in 2001, served as CEO until 2017, transitioned to Executive Chairman in 2018. Focuses on strategic oversight and governance. |
- In the past, you identified $26 million of potential expense cuts, with $20 million expected to be realized in 2024 and the rest in 2026; do you still feel comfortable with that target, and how much of the $26 million have you actually realized so far?
- Given the revenue decline in your medSR division due to Epic-related challenges, what specific steps are you taking to stabilize or grow this segment, and do you see potential for recovery or growth in the near future?
- You've recently launched your own in-house remote patient monitoring (RPM) solution; could you provide more details on its performance during the quarter and your expectations for its future growth and contribution to revenue and margins?
- With your strategy of transitioning AI services from trial to paid offerings, how many clients have converted to paying customers, what has been the revenue impact so far, and what are the early indications of client adoption and willingness to pay?
- Having fully paid down your $10 million credit line and planning to resume dividends in March 2025, how do you plan to balance returning capital to shareholders with investing in growth opportunities, particularly in AI and other strategic initiatives?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Undisclosed Major Customer (Revenue) | Largest revenue contributor in 2024 | All | Accounted for 10% of total 2024 revenue, or about $11.08 million of $110.8 million. |
Undisclosed AR Customer #1 | One of two customers each with 7% of receivables | All | Held 7% of $12.77 million in net A/R as of Dec 31, 2024, or about $0.89 million. |
Undisclosed AR Customer #2 | One of two customers each with 7% of receivables | All | Held 7% of $12.77 million in net A/R as of Dec 31, 2024, or about $0.89 million. |
Related Party Customer | Physician (wife of Executive Chairman) | All | Generated $0.14 million in 2024 revenue (~0.12% of $110.8 million) and had $0.013 million in A/R (~0.10% of $12.77 million). |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
medSR | 2021 |
Recent press releases and 8-K filings for CCLD.
- Financial Performance: Q1 2025 revenue grew 6% to $27.6 million with GAAP net income at $1.9 million, reversing a loss in Q1 2024
- Strategic Acquisitions: Completed key acquisitions—MesaBilling LLC and RevNu Medical Management—expected to be accretive within 90 days
- Capital Structure Improvements: Executed a Series A conversion by transforming 3.5 million preferred shares into 26 million common shares and reducing quarterly dividend obligations from $3.9 million to ~$1.5 million, strengthening free cash flow
- AI Expansion: Launched a self-funded AI Center of Excellence by onboarding over 50 AI professionals with plans to scale the team to 500 by Q4 2025
- The document announces that CareCloud’s Board declared monthly cash dividends for its 8.75% Series A and Series B Preferred Stock for March and April 2025.
- It details that Series A holders, eligible as of record dates, will receive not only the regular dividend but also an additional payment reflecting a prior higher dividend rate.
- The announcement also notes that due to the mandatory conversion of Series A Preferred Stock, the Company has notified Nasdaq of its intent to voluntarily delist that series.
- Record-breaking Q4 2024 performance: Adjusted EBITDA reached $24.1 million (up 56% YoY), net income soared to a record $7.9 million, and free cash flow hit $13.2 million, underlining strong operational improvements.
- Strategic capital structure optimization: The company executed a mandatory conversion of 3.5 million Series A preferred shares into common stock at a premium—with a conversion ratio of approximately 7.3–7.4 shares per preferred share—and left roughly 1 million shares outstanding subject to redemption.
- Optimistic 2025 outlook: Guidance for the coming year projects revenue between $111 million and $114 million, adjusted EBITDA of $26–$28 million, and positive EPS (first since the IPO in 2014) in the range of $0.10 to $0.13, supported by organic growth and selective tuck-in acquisitions.
- CareCloud achieved a major turnaround in Q4 2024 with net income of $3.3 million compared to a $43.7 million loss in Q4 2023.
- Revenue remained steady at $28.2 million in Q4 2024, while Adjusted EBITDA improved to $7.1 million and Free Cash Flow increased to $3.0 million.
- The company provided full-year 2025 guidance with revenue targets of $111–$114 million and Adjusted EBITDA of $26–$28 million, alongside initiatives to expand AI-powered solutions and specialty-based EHR offerings.
- Full year GAAP net income reached $7.9 million, marking a turnaround from a $48.7 million net loss in 2023.
- Adjusted EBITDA increased to $24.1 million for 2024 from $15.4 million in 2023, reflecting significant operational improvements.
- Free cash flow surged to $13.2 million compared to $3.8 million last year, underscoring improved liquidity and cash generation.
- The fourth quarter posted $3.3 million in GAAP net income versus a Q4 net loss of $43.7 million in 2023, complemented by resumed dividends and a strengthened balance sheet.