Slide 1: Q1 2024 Results
Q1 2024 RESULTS Nasdaq Global Market: CCLD, CCLDP, CCLDO May 14, 2024 A leading provider of technology-enabled services and solutions that redefine the healthcare revenue cycle © CareCloud, Inc. 2024
Slide 2: Safe Harbor Statements
Safe Harbor Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statemen
Slide 3: Hosts for First Quarter 2024 Earnings Call
Hosts for First Quarter 2024 Earnings Call Mahmud Haq A. Hadi Chaudhry Stephen Snyder Norman Roth Founder & Executive Chairman Chief Executive Officer President Interim CFO and Corporate Controller © CareCloud, Inc. 2024 2
Slide 4: A. Hadi Chaudhry, Chief Executive Officer
A. Hadi Chaudhry Chief Executive Officer © CareCloud, Inc. 2024 3
Slide 5: Key Priorities for 2024: Leveraging Strengths to Drive Profitability and Free Cash Flow
Key Priorities for 2024: Leveraging Strengths to Drive Profitability and Free Cash Flow CareCloud’s objective to drive profitability and free cash flow is underpinned by an organization-wide commitment to operating leverage and improving the Company’s competitive position $22M $15M Total Annualized
Slide 6: cirrusAI: Revolutionizing Healthcare with AI
cirrusAI: Revolutionizing Healthcare with AI CareCloud’s suite of products continue to encompass cutting- edge solutions that are ahead of the curve. • cirrusAI Guide provides AI-Powered Clinical Decision Support • cirrusAI Chat our AI-Powered Virtual Assistant • cirrusAI Notes runs ambiently during
Slide 7: Stephen Snyder, President
Stephen Snyder President © CareCloud, Inc. 2024 6
Slide 8: Cost Reductions
Cost Reductions $25 $ in millions $22 $20 $15 $15 $10 $5 $- Annualized cost savings Cost savings realized © CareCloud, Inc. 2024 7
Slide 9: Norman Roth, CFO and Corporate Controller
Norman Roth CFO and Corporate Controller © CareCloud, Inc. 2024 8
Slide 10: Q1 2024 Highlights
Q1 2024 Highlights Q1 2023 2024 Revenue $ 30.0 $ 26.0 GAAP operating (loss) income (0.2) 0.1 GAAP net loss (0.4) (0.2) Adjusted EBITDA 4.2 3.7 Cash flow from operations 1.0 4.1 Free cash flow (2.0) 2.2 $ in millions. See reconciliations of non-GAAP results in the Appendix © CareCloud, Inc. 2024 9
Slide 11: 2024 Guidance
2024 Guidance Revenue Adjusted EBITDA $ in millions $ in millions $117 $118 - $120 29. 00 24. 00 $21 - $23 19. 00 $15 14. 00 9. 00 4. 00 ( 1. 00) FY 2023 FY 2024 FY 2023 FY 2024 Actual Guidance Range Actual Guidance Range See reconciliations of non-GAAP results in the Appendix © CareCloud, Inc. 2024
Slide 12: Thank You!
Thank You! Nasdaq Global Market: CCLD, CCLDP, CCLDO Corporate Norman Roth, Chief Financial Officer carecloud.com ir@carecloud.com Investor Relations Bill Korn ir.carecloud.com ir@carecloud.com © CareCloud, Inc. 2024 11
Slide 13: Appendix
Appendix © CareCloud, Inc. 2024 12
Slide 14: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation ($000s) Adjusted EBITDA to GAAP net loss 2023 Q1 2023 Q1 2024 GAAP net loss $ (48,674) $ (401) $ (241) (Benefit) provision for income taxes (364) 65 39 Net interest expense 1,040 130 338 Foreign exchange / other expense 918 (8) (5) Stock-based compensation