TruBridge Q4 2022 Earnings Report
Key Takeaways
CPSI reported Q4 2022 results with revenue of $83.2 million, a 29% increase in TruBridge RCM revenue, GAAP net income of $2.5 million, and non-GAAP net income of $8.7 million. The company's success was attributed to TruBridge RCM business and a focus on strengthening customer relationships, with a retention rate of over 95%.
TruBridge revenue cycle management (RCM) revenue grew by 29% compared to fourth quarter 2021.
TruBridge RCM revenue represented 55% of CPSI’s total revenue.
GAAP net income was $2.5 million and non-GAAP net income was $8.7 million.
Customer retention rate remained stable at over 95%.
TruBridge
TruBridge
Forward Guidance
For full year 2023, the Company is providing an initial outlook of: Revenue in the range of $340 million to $350 million, GAAP net income in the range of $11 million to $15 million, Adjusted EBITDA in the range of $59 million to $63 million