The following is a summary of the TruBridge, Inc. (TBRG) Q1 2024 Earnings Call Transcript:
Financial Performance:
TruBridge Inc. reported Q1 2024 revenue of $83.2 million with an adjusted EBITDA of $9.5 million.
Revenue guidance for 2024 has been revised down to $330 million to $340 million due to large deal implementation timing.
The guidance for adjusted EBITDA remains unchanged at $45 million to $50 million.
Business Progress:
TruBridge identified robust bookings and significant strides in financial operations, with $23 million due to RCM and EHR sales efforts.
The company expanded into larger deals, which has impacted the timing from contract signing to implementation.
A promising increase in RCM and EHR bookings suggests a growing presence in the ambulatory market and potential for larger deals.
-New partnerships with Microsoft Nuance Dragon and Multiview aim to add value to client offerings.
The introduction of 'TruBridge Analytics' indicates a commitment to provide better insight to clients.
Management is confident in the efficacy of the global workforce plan and the integration of Viewgol.
A shift of focus towards enhancing efficiency within the business is promising, as highlighted by reductions in costs and increases in savings.
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