TruBridge, Inc. Files Q3 2024 10-Q Report

TL;DR

TruBridge Q3 10-Q filed. Financials for Health & Patient Care segments detailed.

AI Summary

TruBridge, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for its Financial Health and Patient Care segments. Specific financial figures and operational details for the third quarter and year-to-date periods are detailed within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for TruBridge, Inc., crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal performance trends, segment-specific challenges, or overall market positioning, impacting investor confidence.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-12 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• TruBridge, Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2024-11-12 (date) — Filing date of the report
• COMPUTER PROGRAMS & SYSTEMS INC (company) — Former name of TruBridge, Inc.
• Financial Health Segment (company) — One of TruBridge's operating segments
• Patient Care Segment (company) — One of TruBridge's operating segments

FAQ

Filing Documents

• tbrg-20240930.htm (10-Q) — 1438KB
• tbrgex31109302024.htm (EX-31.1) — 10KB
• tbrgex31209302024.htm (EX-31.2) — 10KB
• tbrgex32109302024.htm (EX-32.1) — 5KB
• 0001169445-24-000073.txt ( ) — 8386KB
• tbrg-20240930.xsd (EX-101.SCH) — 59KB
• tbrg-20240930_cal.xml (EX-101.CAL) — 117KB
• tbrg-20240930_def.xml (EX-101.DEF) — 298KB
• tbrg-20240930_lab.xml (EX-101.LAB) — 707KB
• tbrg-20240930_pre.xml (EX-101.PRE) — 526KB
• tbrg-20240930_htm.xml (XML) — 1246KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets (Unaudited) – September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) – Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) – Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (Unaudited) – Nine Months Ended September 30, 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 44

Controls and Procedures

Item 4. Controls and Procedures 44

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 46

Risk Factors

Item 1A. Risk Factors 46

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 48

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 48

Other Information

Item 5. Other Information 48

Exhibits

Item 6. Exhibits 49 2 PART I FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. TRUBRIDGE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) (Unaudited) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 8,586 $ 3,848 Accounts receivable (net of allowance for expected credit losses of $ 3,896 and $ 3,631 , respectively) 56,680 59,723 Financing receivables, current portion, net (net of allowance for expected credit losses of $ 405 and $ 319 , respectively) 5,133 3,997 Inventories 924 475 Prepaid income taxes 1,972 1,628 Prepaid expenses and other current assets 15,853 15,807 Assets held for sale 2,473 25,977 Total current assets 91,621 111,455 Property and equipment, net 5,049 8,974 Software development costs, net 41,026 39,139 Operating lease assets 3,451 5,192 Financing receivables, net of current portion (net of allowance for expected credit losses of $ 18 and $ 97 , respectively) 231 1,226 Other assets, net of current portion 7,749 7,314 Intangible assets, net 79,833 89,213 Goodwill 172,573 171,909 Total assets $ 401,533 $ 434,422 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 14,028 $ 10,133 Current portion of long-term debt 2,926 3,141 Deferred revenue 10,235 8,677 Accrued vacation 5,392 5,410 Other accrued liabilities 18,421 19,892 Liabilities held for sale — 977 Total current liabilities 51,002 48,230 Long-term debt, net of current portion 173,343 195,270 Operating lease liabilities, net of current portion 2,520 3,074 Deferred tax liabilities 2,021 1,230 Total liabilities 228,886 247,804 Stockholders' equity: Common stock, $ 0.001 par value; 30,000 shares authorized; 15,546 and 15,121 shares issued, respectively 15 15 Additional paid-in capital 199,244 195,546 Accumulated other comprehensive gain 107 — Accumulated earnings (deficit) ( 9,242 ) 8,132 Treasury stock, 619 shares and 572 shares, respectively ( 17,477 ) ( 17,075 ) Total stockholders' equity 172,647 186,618

View Full Filing

View this 10-Q filing on SEC EDGAR