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Dec 31, 2020
TruBridge Q4 2020 Earnings Report
Announced Q4 2020 results, launching a transformation initiative to reach $80 million in Adjusted EBITDA in 2024, and targeting a 5% to 8% three-year average organic recurring revenue growth rate.
Key Takeaways
CPSI announced its Q4 2020 results, with revenues of $66.8 million and a GAAP net income of $3.1 million. The company is launching a transformation initiative aimed at achieving $80 million in Adjusted EBITDA in 2024 and targeting a 5% to 8% three-year average organic recurring revenue growth rate.
Revenues reached $66.8 million.
GAAP net income was $3.1 million, while non-GAAP net income was $7.8 million.
GAAP earnings per diluted share were $0.22, and non-GAAP earnings per diluted share were $0.55.
Adjusted EBITDA amounted to $12.3 million.
TruBridge
TruBridge
Forward Guidance
The Company expects to achieve three-year annual organic recurring revenue growth of 5% to 8%. For 2021, we expect recurring revenue growth at the higher end of that 5% to 8% range, with total expected revenues of $270 to $280 million. GAAP net margin is expected to be 6.5% to 7.5%, and Adjusted EBITDA margin is expected to be 16.5% to 17.5% as we anticipate incremental margin pressure from the continued SaaS transition.
Positive Outlook
- Achieve three-year annual organic recurring revenue growth of 5% to 8%.
- Recurring revenue growth at the higher end of that 5% to 8% range.
- Total expected revenues of $270 to $280 million.
- GAAP net margin is expected to be 6.5% to 7.5%.
- Adjusted EBITDA margin is expected to be 16.5% to 17.5%.
Challenges Ahead
- Incremental margin pressure from the continued SaaS transition.