TruBridge Announces First Quarter 2025 Results

MOBILE, ALA. (May 7, 2025) – TruBridge, Inc. (NASDAQ: TBRG), a healthcare solutions company, today announced financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Highlights*

All comparisons are to the quarter ended March 31, 2024, unless otherwise noted

• Total bookings of $22.0 million compared to $23.6 million
• Total revenue of $87.2 million compared to $84.1 million
  • Recurring revenue represented 94% of total revenue
• Financial Health revenue of $56.1 million compared to $53.4 million
  • Financial Health revenue represented 64% of TruBridge’s total revenue
• GAAP net income of $0.5 million compared to a net loss of $1.9 million
• Non-GAAP net income of $5.2 million compared to $3.4 million
• Adjusted EBITDA of $18.2 million compared to $10.3 million

*As of the third quarter of 2024, TruBridge is now reporting two segments in its financial statements representing the two business units. Financial Health represents the previous Revenue Cycle Management (RCM) segment, and Patient Care represents the previous Electronic Health Record (EHR) segment, including the patient engagement business.

Commenting on the results, Chris Fowler, chief executive officer of TruBridge, Inc., stated, “We are pleased to report that we are off to a strong start for 2025, delivering first quarter results that exceeded our expectations, and making progress on several fronts. We saw positive trends in bookings, including two wins in Financial Health that represented significant expansion of scope based on our performance and a competitor displacement in Patient Care. In the quarter, we also took steps to increase transparency by introducing our new method for reporting bookings, which now focuses on annual contract value as opposed to total contract value, and we paid down additional debt, bringing our leverage ratio to 2.4x.

“As announced in January, we welcomed Merideth Wilson as the new General Manager of our Financial Health business unit. With a few months under her belt, she is already making an impact at TruBridge and has created a plan of action that we are confident will ensure the continued smooth progression of our global workforce transition. We are proud of the work our team has done to strengthen our business and remain dedicated to serving rural and community markets, all while advancing towards our goals to drive long-term success,” added Fowler.

For the second quarter of 2025, TruBridge expects to generate:

• Total revenue of $85.5 million to $87.5 million
• Adjusted EBITDA of $12.5 million to $14.5 million

For the full year 2025, TruBridge expects to generate:

• Total revenue of $345 million to $360 million; unchanged
• Adjusted EBITDA of $60 million to $66 million; revised from $59 million to $66 million

TruBridge will hold a conference call and live webcast to discuss first quarter 2025 results on Wednesday, May 7, 2025, at 3:30 p.m. Central time, 4:30 p.m. Eastern time. To access this interactive teleconference, dial (888) 396 8049 and request connection to the TruBridge earnings conference call.  A 30-day online replay will be available approximately one hour following the conclusion of the live webcast.  To listen to the live webcast or access the replay, visit the Company’s investor relations website, investors.trubridge.com.

We are a trusted partner to more than 1,500 healthcare organizations with a broad range of technology-first solutions that address the unique needs and challenges of diverse communities, promoting equitable access to quality care and fostering positive outcomes. TruBridge has over four decades of experience in connecting providers, patients and communities with innovative data-driven solutions that create real value by supporting both the financial and clinical side of healthcare delivery. Our industry leading HFMA Peer Reviewed® suite of revenue cycle management (RCM) offerings combine unparalleled visibility and transparency to enhance productivity and support the financial health of healthcare organizations across all care settings. We support efficient patient care with electronic health record (EHR) product offerings that successfully integrate data between care settings. Above all, we believe in the power of community and encourage collaboration, connection, and empowerment with our customers. We clear the way for care. For more information, please visit www.trubridge.com.

Investor Relations Contact
Asher Dewhurst, ICR Healthcare
[email protected]

Media Contact
Tracey Schroeder
Chief Marketing Officer
[email protected]

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified generally by the use of forward-looking terminology and words such as “expects,” “anticipates,” “estimates,” “believes,” “predicts,” “intends,” “plans,” “potential,” “may,” “continue,” “should,” “will” and words of comparable meaning. Without limiting the generality of the preceding statement, all statements in this press release relating to the Company’s future financial and operational results are forward-looking statements. We caution investors that any such forward-looking statements are only predictions and are not guarantees of future performance. Certain risks, uncertainties and other factors may cause actual results to differ materially from those projected in the forward-looking statements. Such factors may include: saturation of our target market and hospital consolidations; unfavorable economic or market conditions that may cause a decline in spending for information technology and services; significant legislative and regulatory uncertainty in the healthcare industry; exposure to liability for failure to comply with regulatory requirements; transition to a subscription based recurring revenue model and modernization of our technology; competition with companies that have greater financial, technical and marketing resources than we have; potential future acquisitions that may be expensive, time consuming, and subject to other inherent risks; our ability to attract and retain qualified personnel in a global workforce; disruption from periodic restructuring of our sales force; slower than anticipated development of the market for Financial Health services; potential inability to properly manage growth in new markets we may enter; potential failure to effectively implement a new enterprise resource planning software solution; exposure to numerous and often conflicting laws, regulations, policies, standards or other requirements through our domestic and international business activities; potential litigation against us and investigations; our use of offshore third-party resources; competitive and litigation risk related to the use of artificial intelligence; potential failure to develop new products or enhance current products that keep pace with market demands; failure of our products to provide accurate and timely information for clinical decision-making; breaches of security and viruses in our systems resulting in customer claims against us and harm to our reputation; failure to maintain customer satisfaction through new product releases free of undetected errors or problems; failure to convince customers to migrate to current or future releases of our products; failure to maintain our margins and service rates; increase in the percentage of total revenues represented by service revenues, which have lower gross margins; exposure to liability in the event we provide inaccurate claims data to payors; exposure to liability claims arising out of the licensing of our software and provision of services; dependence on licenses of rights, products and services from third parties; failure to protect our intellectual property rights; exposure to significant license fees or damages for intellectual property infringement; interruptions in our power supply and/or telecommunications capabilities; potential inability to secure additional financing on favorable terms to meet our future capital needs; our substantial indebtedness, and our ability to incur additional indebtedness in the future; pressures on cash flow to service our outstanding debt; restrictive terms of our credit agreement on our current and future operations; changes in and interpretations of financial accounting matters that govern the measurement of our performance; significant charges to earnings if our goodwill or intangible assets become impaired; fluctuations in quarterly financial performance due to various factors; volatility in our stock price; failure to maintain effective internal control over financial reporting; inherent limitations in our internal control over financial reporting; vulnerability to significant damage from natural disasters; market risks related to interest rate changes; potential material adverse effects due to macroeconomic conditions; we do not anticipate paying dividends on our common stock; actions of activist stockholders against us; and other risk factors described from time to time in our public releases and reports filed with the Securities and Exchange Commission. We also caution investors that the forward-looking information described herein represents our outlook only as of this date, and we undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this press release.