TruBridge Announces Fourth Quarter and Full Year 2024 Results and Provides Initial 2025 Outlook

MOBILE, ALA. (March 10, 2025) – TruBridge, Inc. (NASDAQ: TBRG), a healthcare solutions company, today announced financial results for the fourth quarter and year ended December 31, 2024.

• Rebranded as TruBridge to pursue a more focused marketing strategy under one brand
• Achieved total annual bookings of $82.1 million
• Achieved solid organic growth in Financial Health (the revenue cycle management (RCM) business)
• Improved the quality of the Company’s financial results, forecasting accuracy, and capital allocation strategy
• Transitioned approximately 30% of Financial Health Complete Business Office (CBO) client base offshore
• Improved cash flows with significant debt repayment resulting in reduced leverage ratio from 4x at year end 2023 to approximately 3x at year end 2024
• Divested American Health Tech (AHT), the first divestiture in the Company’s history
• Elevated role of general manager for Financial Health and Patient Care business units
• Added Amy O’Keefe to the Board of Directors, deepening the financial expertise of the Board

Commenting on the results, Chris Fowler, chief executive officer of TruBridge, Inc., stated, “I’m proud of the progress we made over the course of 2024 and pleased to be reporting revenue and adjusted EBITDA ahead of our expectations for the year. We’ve successfully strengthened our financial operations and executed key strategic initiatives, including the successful transition of the first wave of clients to our global workforce, while maintaining our commitment to customer satisfaction and meaningfully reducing our leverage ratio.”

“Looking ahead to 2025, we are focused on enhancing customer satisfaction and retention, optimizing our operations, and expanding our sales pipeline. With new leadership in our Financial Health division and continued investment in our offshore capabilities, we believe that we are well positioned for success. Our commitment to innovation and operational excellence will drive our long-term success and deliver value to our stakeholders,” concluded Fowler.

All comparisons are to the quarter ended December 31, 2023, unless otherwise noted.

• Total bookings of $14.3 million compared to $24.4 million
• Total revenue of $87.4 million compared to $85.9 million
  • Recurring revenue represented 93.6% of total revenue
• Financial Health revenue of $54.7 million compared to $51.0 million
  • Financial Health revenue represented 62.6% of TruBridge’s total revenue
• GAAP net loss of $5.7 million and non-GAAP net income of $0.7 million
• Adjusted EBITDA of $17.2 million compared to $12.0 million

All comparisons are to the year ended December 31, 2023, unless otherwise noted.

• Total bookings of $82.1 million compared to $80.2 million
• Total revenue of $339.2 million compared to $339.4 million
  • Recurring revenue represented 94.4% of total revenue
• Financial Health revenue of $216.1 million compared to $193.9 million
  • Financial Health revenue represented 63.7% of TruBridge’s total revenue
• GAAP net loss of $23.1 million and non-GAAP net income of $3.5 million
• Adjusted EBITDA of $53.1 million compared to $47.6 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.

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

• Total revenue between $85 million and $88 million
• Adjusted EBITDA between $14 million and $16 million

For the full year 2025, TruBridge expects to generate:

• Total revenue between $345 million and $360 million
• Adjusted EBITDA between $59 million and $66 million

TruBridge will hold a conference call and live webcast to discuss fourth quarter and full year 2024 results on Monday, March 10, 2025, at 3:30 p.m. Central time/4:30 p.m. Eastern time. To access this interactive teleconference, dial (877) 407-0890 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 Westwicke
[email protected]

Media Contact
Tracey Schroeder
Chief Marketing Officer
[email protected]