The following is a summary of the CareCloud, Inc. (CCLD) Q3 2024 Earnings Call Transcript:

Financial Performance:

• CareCloud reported adjusted EBITDA of $6.8 million for Q3 2024, a 111% increase over the previous year, and a 328% increase in year-to-date free cash flow, reaching $10.3 million.

• Revenue for Q3 2024 was $28.5 million, slightly down from $29.3 million in Q3 2023 due to fluctuations in non-recurring revenue from the medSR division.

• Fully paid off a $10 million credit line and on track to resume monthly dividend payments on Series A and Series B preferred shares in March 2025.

Business Progress:

• Advanced the development and integration of CareCloud CirrusAI, enhancing clinical efficiency and patient outcomes.

• Focus on generating free cash flow saw the full repayment of bank debt and a strong increase in net GAAP income from a net loss in the previous year to $3.1 million in Q3 2024.

Opportunities:

• Utilizing CareCloud CirrusAI across their EHR systems to expand service capability and reach, with emerging ventures into AI-powered solutions showing promising growth potential.

• Identified revenue opportunities with life sciences partners, leveraging extensive data assets for multiple uses including risk assessments and research by these partners.

Risks:

• The fluctuating revenues of the medSR division pose a challenge in predicting consistent future revenues in professional services, especially given past issues with service restrictions by a major client like APIC.

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