The following is a summary of the TruBridge, Inc. (TBRG) Q3 2024 Earnings Call Transcript:
Financial Performance:
Q3 bookings increased significantly, maintaining a strong trend with more than $20 million in total bookings.
Financial health revenue grew by 5% organically, excluding contributions from Viewgol; core CBO business grew by double-digits.
Adjusted EBITDA margin reached 16.5%, with a sequential expansion and a notable improvement from previous quarters.Cash flow from operations significantly improved by roughly $9 million year-over-year to $22 million.
Revenue for the quarter was $83.8 million, with a slight increase over the previous year, primarily bolstered by strategic acquisitions like Viewgol.
Business Progress:
Continued integration and expansion in India, expected to double the customer base supported by the team in India to 60% by the end of 2025.
Launched and investing in an analytics platform to leverage customer data, enhancing clinical outcomes and optimizing revenue cycles.
Leadership changes and management restructuring to enhance operational focus and strategic execution.
Opportunities:
Expanding the global workforce in India, aiming to significantly enhance operational efficiency and client service capabilities.
Leveraging advanced analytics to provide deeper insights and improve service offerings.
Continued emphasis on nTrust solutions, showing robust growth and uptake among new and existing clients.
Risks:
Initial duplicative costs and challenges in transitioning clients to offshore support in India could temporarily affect operational efficiency.
Market and economic shifts influencing health insurance and payment models, impacting revenue cycle management dynamics.
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