CareCloud, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 21, 2024 at 04:30 pm IST
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CareCloud, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 28.42 million compared to USD 32.53 million a year ago. Net loss was USD 43.69 million compared to net income of USD 0.499 million a year ago. Basic loss per share from continuing operations was USD 3 compared to basic earnings per share from continuing operations of USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 3 compared to diluted earnings per share from continuing operations of USD 0.22 a year ago.
For the full year, the company reported sales was USD 117.06 million compared to USD 138.83 million a year ago. Net loss was USD 48.67 million compared to net income of USD 5.43 million a year ago. Basic loss per share from continuing operations was USD 4.11 compared to USD 0.67 a year ago.
CareCloud, Inc. is a healthcare information technology company. The Company provides a suite of cloud-based solutions and related business services, to healthcare providers, from small practices to enterprise medical groups, hospitals, and health systems throughout the United States. Its segments include Healthcare IT and Medical Practice Management. Healthcare IT segment includes technology-assisted revenue cycle management, software-as-a-service (SaaS) solutions and other services. Medical Practice Management segment includes the management of three medical practices. Its technology-enabled business solutions include revenue cycle management; Cloud-based software; Digital health; and Healthcare IT professional services & staffing. Its SaaS platforms include practice management (PM), electronic health record (EHR), patient experience management (PXM), and others. Its Revenue Cycle Management services including end-to-end medical billing, eligibility, analytics, and related services.
CARECLOUD, INC. 
