CareCloud Achieves Profitability with AI-Driven Turnaround

Carecloud, Inc. ( (CCLD) ) has released its Q4 earnings. Here is a breakdown of the information Carecloud, Inc. presented to its investors.

CareCloud, Inc. is a prominent player in the healthcare technology sector, specializing in generative AI solutions that enhance clinical workflows and revenue cycle management. The company recently reported a significant financial turnaround for the fiscal year 2024, achieving GAAP profitability with a net income of $7.9 million, a stark contrast to the previous year’s loss of $48.7 million. Notable financial metrics include an adjusted EBITDA of $24.1 million, marking a 56% increase from 2023, and a free cash flow of $13.2 million, up by 244% from the prior year. Despite a slight decline in annual revenue from $117.1 million to $110.8 million, the company demonstrated strong operational performance, particularly in the fourth quarter with a net income of $3.3 million. Strategic moves such as the conversion of Series A Preferred Stock and the resumption of preferred dividends have strengthened CareCloud’s financial position, reducing dividend burdens and fully repaying its credit line. Looking ahead, CareCloud is optimistic about continued growth in 2025, projecting revenues between $111 million and $114 million, with an expected adjusted EBITDA of $26 to $28 million, driven by ongoing cost reduction efforts and AI-driven operational enhancements.