TruBridge, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>TruBridge, Inc. has filed its Q1 2024 10-Q report, detailing financial performance across its RCM, EHR, and Patient Engagement segments.</b>

AI Summary

TruBridge, Inc. (TBRG) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. TruBridge, Inc. filed a 10-Q report for the period ending March 31, 2024. The company operates in three segments: Revenue Cycle Segment (RCM), Electronic Health Records (EHR), and Patient Engagement. Financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023, are presented. The filing includes details on common stock, additional paid-in capital, accumulated other comprehensive income, retained earnings, and treasury stock. The company's former name was Computer Programs & Systems Inc., with a name change date of March 19, 2002.

Why It Matters

For investors and stakeholders tracking TruBridge, Inc., this filing contains several important signals. This filing provides investors with the latest quarterly financial snapshot of TruBridge, Inc., crucial for assessing performance trends and making informed investment decisions. Understanding the segment-specific data (RCM, EHR, Patient Engagement) allows for a deeper analysis of revenue drivers and potential growth areas within the company's operations.

Risk Assessment

Risk Level: medium — TruBridge, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not indicate significant positive or negative events, but requires careful review of financial details and risk factors.

Analyst Insight

Review the detailed segment revenues and year-over-year growth to identify performance trends and potential investment opportunities or risks.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-10 — Filing Date (Filed as of Date)
• 2024-01-01 — Quarter Start Date (Reporting Period)
• 2023-03-31 — Prior Year Quarter End Date (Reporting Period)

Key Players & Entities

• TruBridge, Inc. (company) — Filer name
• 0001169445 (company) — Central Index Key
• 7371 (company) — Standard Industrial Classification
• Mobile (company) — Business Address City
• AL (company) — Business Address State
• 36602 (company) — Business Address Zip
• Computer Programs & Systems Inc. (company) — Former Company Name
• 2002-03-19 (company) — Date of Name Change

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during a specific quarter.)

Filing Documents

• tbrg-20240331.htm (10-Q) — 1201KB
• tbrg-ex311_03312024.htm (EX-31.1) — 10KB
• tbrg-ex312_03312024.htm (EX-31.2) — 10KB
• tbrg-ex321_03312024.htm (EX-32.1) — 5KB
• 0001169445-24-000047.txt (&nbsp;) — 7864KB
• tbrg-20240331.xsd (EX-101.SCH) — 59KB
• tbrg-20240331_cal.xml (EX-101.CAL) — 112KB
• tbrg-20240331_def.xml (EX-101.DEF) — 295KB
• tbrg-20240331_lab.xml (EX-101.LAB) — 693KB
• tbrg-20240331_pre.xml (EX-101.PRE) — 516KB
• tbrg-20240331_htm.xml (XML) — 1147KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets (Unaudited) –March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operation (Unaudited) – Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) – Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (Unaudited) – Three Months Ended March 31 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 41

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 44

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 44

Other Information

Item 5. Other Information 44

Exhibits

Item 6. Exhibits 45 2 PART I FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. TRUBRIDGE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) (Unaudited) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 4,115 $ 3,848 Accounts receivable (net of allowance for expected credit losses of $ 3,773 and $ 3,631 , respectively) 64,218 59,723 Financing receivables, current portion, net (net of allowance for expected credit losses of $ 304 and $ 319 , respectively) 3,668 3,997 Inventories 980 475 Prepaid income taxes 1,151 1,628 Prepaid expenses and other current assets 17,772 15,807 Assets of held for sale disposal group — 25,977 Total current assets 91,904 111,455 Property and equipment, net 8,750 8,974 Software development costs, net 41,237 39,139 Operating lease assets 4,672 5,192 Financing receivables, net of current portion (net of allowance for expected credit losses of $ 79 and $ 97 , respectively) 959 1,226 Other assets, net of current portion 8,331 7,314 Intangible assets, net 86,086 89,213 Goodwill 172,573 171,909 Deferred tax assets 1,905 — Total assets $ 416,417 $ 434,422 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 11,356 $ 10,133 Current portion of long-term debt 3,074 3,141 Deferred revenue 9,079 8,677 Accrued vacation 5,429 5,410 Other accrued liabilities 18,226 19,892 Liabilities of held for sale disposal group — 977 Total current liabilities 47,164 48,230 Long-term debt, net of current portion 181,732 195,270 Operating lease liabilities, net of current portion 2,848 3,074 Deferred tax liabilities — 1,230 Total liabilities 231,744 247,804 Stockholders' equity: Common stock, $ 0.001 par value; 30,000 shares authorized; 15,572 and 15,121 shares issued, respectively 15 15 Additional paid-in capital 196,346 195,546 Accumulated other comprehensive gain 113 — Retained earnings 5,616 8,132 Treasury stock, 613 shares and 572 shares, respectively ( 17,417 ) ( 17,075 ) Total stoc

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View this 10-Q filing on SEC EDGAR