New York, December 22, 2023 – Healthcare technology solutions provider, CareCloud, Inc. (Nasdaq: CCLD) has seen a jump in its share price this week. The new momentum is being driven by the company’s financial and operational update, issued on Wednesday, and outlining an attractive roadmap for future growth. Shareholders rewarded CareCloud with a 25.61% increase following Wednesday’s session, and a 22.94% boost on Thursday.
Remarking on the company’s financial highlights, A. Hadi Chaudhry, President and Chief Executive Officer of CareCloud, said, “We have recently faced challenges requiring us to make very difficult decisions. We are working aggressively to execute on growth initiatives supporting a plan towards positive free cash next year, solidifying the Company for sustainable success going forward and improving shareholder value.”
CareCloud has stated that its stable core business and proprietary end-to-end platform lay the foundation for revenue growth and operational improvements, and its strategic focus on innovative solutions, such as AI and cutting-edge technology, position it for success in the healthcare technology market.
CareCloud continues to generate positive cash flow from its operations despite facing a slower return to top-line growth than expected in recent months. Taking into account the company’s planned actions to reduce infrastructure costs and capitalized spending, CareCloud expects to deliver improvements in profitability and positive free cash flow in 2024, with annual revenue of approximately $117 million and adjusted EBITDA between $15 – $17 million.
CareCloud (Nasdaq: CCLD, CCLDP, CCLDO) brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health, at www.carecloud.com
— PrismMarketView (@PrismMarketView) December 21, 2023
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The post PRISM Analysis: Why Did CareCloud Shares Jump This Week? first appeared on Prism Media Wire.