TruBridge (TBRG) Company Report

TruBridge, Inc. entered into an Amended and Restated Credit Agreement on November 25, 2025, refinancing its existing credit facilities with Regions Bank serving as Administrative Agent.
The new agreement increases the maximum borrowing capacity under the revolving credit facility from $160 million to $180 million and the outstanding principal balance of the term loan facility from $54 million to $70 million.
The maturity date for both the revolving and term loan credit facilities has been extended from May 2027 to November 2030.
The total amount outstanding under the Company's credit facilities after the execution of the 2025 Credit Agreement is $168 million, including the $70 million term loan and $98 million revolver.
Financial covenants were updated, including the Consolidated Net Leverage Ratio, which must not exceed 3.75 to 1.0 from December 31, 2025, through September 30, 2026, and 3.50 to 1.0 thereafter, and the Consolidated Fixed Charge Coverage Ratio, which must not be less than 1.25 to 1.0.

4 days ago

TruBridge Reports Q3 2025 Results, Provides Full Year Guidance, and Announces Leadership Change

TBRG

Earnings

Guidance Update

Management Change

TruBridge reported Q3 2025 revenue of $86.1 million, an increase of approximately 2% compared to a year ago, and adjusted EBITDA of $16.3 million with an 18.9% margin, representing a 155 basis point improvement versus Q3 2024.
The company's net leverage ratio improved to 2.2x by Q3 2025, down from 4.4x in Q4 2023, having paid down approximately $35 million in debt since January 2024.
For the full year 2025, TruBridge expects revenue of $345 million-$348 million and adjusted EBITDA of $65 million-$68 million, projecting an adjusted EBITDA margin of 19% at the midpoint, a 260 basis points increase from 2024. The company also anticipates further adjusted EBITDA margin expansion of around 200 basis points in 2026.
Bookings for Q3 2025 were $15.5 million on a TCV basis, which was below internal expectations, but October sales efforts are off to a strong start, suggesting delayed decisions from Q3. Mike Dalton was welcomed as Chief Business Officer in early October to lead sales, marketing, and client success teams.

Nov 7, 2025, 1:30 PM

TruBridge Reports Q3 2025 Financial Results and Provides 2025-2026 Outlook

TBRG

Earnings

Guidance Update

Management Change

TruBridge reported Q3 2025 revenue of $86.1 million, an increase of approximately 2% year-over-year, and adjusted EBITDA of $16.3 million with an 18.9% margin, representing a 155 basis point improvement compared to Q3 2024.
The company significantly improved its balance sheet, reducing net debt to approximately $144 million and lowering its net leverage ratio to 2.2 times by Q3 2025, down from 4.4 times in Q4 2023. Year-to-date free cash flow improved to $15 million in 2025 from a $5 million outflow in the corresponding 2023 period.
Bookings for Q3 2025 were $15.5 million on a Total Contract Value (TCV) basis, which was lower than expected, but October sales efforts are off to a strong start. Mike Dalton was welcomed as the new Chief Business Officer in early October to lead sales and marketing.
For full-year 2025, TruBridge expects revenue between $345 million and $348 million and adjusted EBITDA between $65 million and $68 million, with margins projected to reach 19%. The company anticipates further adjusted EBITDA margin expansion of approximately 200 basis points in 2026, driven by cost optimization and global offshore transitions.

Nov 7, 2025, 1:30 PM

TruBridge Announces Third Quarter 2025 Results

TBRG

Earnings

Guidance Update

Demand Weakening

TruBridge, Inc. announced total revenue of $86.1 million for the third quarter ended September 30, 2025, an increase from $84.7 million in the prior year, with 94% of total revenue being recurring.
The company reported GAAP net income of $5.6 million for Q3 2025, a significant improvement from a net loss of $9.1 million in Q3 2024, and Adjusted EBITDA of $16.3 million, up from $14.7 million in the same period last year.
Total bookings for Q3 2025 were $15.5 million, compared to $21.0 million in Q3 2024.
For the fourth quarter of 2025, TruBridge expects total revenue between $86 million and $89 million and Adjusted EBITDA between $16.5 million and $19.5 million.
Full-year 2025 guidance was revised, with total revenue now expected to be $345 million to $348 million and Adjusted EBITDA $65 million to $68 million.

Nov 6, 2025, 9:23 PM

Earnings Transcripts

Quarterly earnings call transcripts for TruBridge.

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