MDRX - Earnings call transcript Q2 2021

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Operator

Greetings, and welcome to Allscripts' Second Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Stephen Shulstein, Vice President of Investor Relations. you. Thank

begin. may You

Stephen Shulstein

much. earnings welcome conference very second the quarter XXXX call. Good you to afternoon Allscripts' Thank

information Our revise speakers These Financial today during of results that the the workbook Officer; information in to making and Black call. are Relations going Please supplemental to the call number the release that Paul Black, Poulton, GAAP or release more our uncertainties regarding our actual a Q&A earnings the and forward-looking as And risks our and over President Allscripts' are non-GAAP risk presentation our and to no and to also with part reference forward-looking non-GAAP based financial the Chief may of materially. Officer. Please Investor as future the be these can Rick our on current undertake results. We'll and I'm begin. statements Chief refer of expectations that, statements the light on factors are in and to website. statements our involve number We for vary and available tables SEC of well earnings a filings statements hand that cause obligation events. affect to new both Executive Paul

Paul Black

of pleased continuation Stephen, our the strong joining everyone your financial strong the very which for Allscripts. year. and represents I'm with thanks interest second Thanks, call. performance We in appreciate results, this quarter our

to of that last and sheet business balance reflect implemented. began the base reset continue and across Our client our cost priorities, results year our be

steady We quarter. flow to return provide like innovate again both we performance around able and say results for inpatient ambulatory pleased the the to these portfolio. demand to the have consumer focus acknowledge ample us robust shareholders. allowed bookings with free solutions our value-added their performance Veradigm second across Overall, they proud in to and objectives strong the once delivering. of for associates were saw our client I'd accomplish that I'm and also to cash relentless been solutions. we're to Our

the the experienced new while pandemic vaccination still recovery pipeline predict. in systems to to in more However, COVID resulted quarter close, This deals deals timing these from pandemic and closing residual we rates somewhat systems the domestic for the has due been for particularly improving delays strong. our North taking market very longer in second has with inherently large America, international some eased the where global to are remains in deals health uneven. and regions health harder Overall, the in

We with partnership from of logos in our Sunrise in base the we've expect and benefit Microsoft. the platform health market. deliver international the in be greenfield it help believe replacement win a critical we and made the US will resonating cloud to driver to delivered client This as to through market is investments the us with our new

and which Azure Microsoft continuity, become more year. over the has clients delivers availability important only with business recovery partnership disaster cybersecurity, Our capabilities last high our

quarter. our to with second client has as resonating physicians nurses installed XX our Health an go the is showcases BronxCare managed XXXX, services, record. signed health A engagement, System Allscripts and how Sunrise mobile services electronic This nursing, partnership for professional Microsoft they for chosen patient Microsoft Azure. with add years highlights Mobile few an all-in migrating for to extension FollowMyHealth for and client base. are with modernize a to are Here documentation clinical looking integrated of its into BronxCare

City. During of the Mercy began quarter second platform implementation the health at of we our Sunrise Iowa

the all expanded communities provide second cloud and the quarter, we TouchWorks We'll record support experience business, the XXX the our more we of last had extending relationship Fusion serves. platforms. solutions. patient that a quarter. practices ambulatory than existing us and is to their Practice clinician In based single for this announced enhances across In reminder a ambulatory contract added Pro, that market As Mercy services across win their managed patient an in innovative include that further competitive with Mercy the independent

Our the the year back pipeline remains half very for of strong.

a we with in our outsourcing. expansion covering new of we've ambulatory Our consumer, a our success revenue segment the cycle financial country, license result creating physicians outcomes momentum solutions. is large is pipeline Orthopedic services. capitalizing with business network and a the to alliance are see We expansions initiatives TouchWorks breadth aggregating end-to-end An RCM strategic direct cross-selling our of a the the which solution clinical, build aggregation made and investments are US from of and based is for data that seeing these narrow on included of relationship the that USOA of the information orthopedic example providers. Alliance, additional the on complete across improved

clients segment the revenue Fusion and into management Veradigm independent as Allscripts solutions helps detail later focused our more maintain and Fusion performance integrating Giving have call. leader record. one-stop we to in electronic Practice Specifically, loyalty clients a it physician enables discuss practice of practice cycle our the also the market. in Allscripts Practice us health shopping on Rick in will the create

momentum. life double-digit as payer to and see in We important our to the investments continue market our gives this confidence growth quarter business markets return solutions to sciences to gain in This across these segments. serve us are the second pleased

and the are of to made I'd the who I the last hand responsibility. over regarding the system, are I comments Rick, working on Before on company. expand care. like call IT health in Allscripts discussed as our by core and inequities social to in we is the highlighted corporate call Allscripts to the particular pandemic we I care gaps the are how HealthHelp in and addressing a This bridge Previously

DE&I Allscripts make progress of health progress our our initiatives. year We open significant building communities on of This for to vision made connected continue towards everyone. we at

as intern recruitment enrichment the We on group program. topics and diversity. We college focused off diversity associates kicked speaker training all series, efforts, participated part education example, program. our DEI For created associate and to expanded the biased essential related in of

of information the Challenge community that partners how Using partners pitched care asked with Care, the Allscripts diverse an We innovative ADP offer solutions technology We information the Allscripts called can to to to understand providers help of and a at they valuable Developer entrepreneurs Social our internal to their developers to kicked goals DEI a recruited we care to those vision. their new relevant better was how relevant innovators. of This their solutions the also Developer social to SDOH voices demonstrate Health partner at for this Empower, the to quarter, health and to and program use have to Equity, of accelerate launched to clients. in equity providers, healthcare connect giving businesses patient last is Determinants the In underrepresented off their deliver conducted resources associates Recently innovation their need and through technology creating patient which ADP share innovation. Thursday Eight question, grow so were can providers tools drivers with website Advancing with Through is Program visibility program Allscripts amplify technology shares our patients. the our advance second care Empower. care health we care also Allscripts ADP program to designed access?"

National for a we Information recently I event, Tripathi, great joined were the by Dr. analogy. Micky Coordinator Health Technology. ONC's During heard

thing patient systems Over system thus decade. information look model and technology. of performance the delay the through years in. CSR will you It across I and it benefits care, past medical quite right next be facets is updated creating forward equity provide delivers eliminate to the of facets and sustainable serve, Allscripts, summarize, To was to keeping value business to I'm built on waste progress that safety and all of outcomes, the operations. of have care a will focus care improved communities our point clients. to focused the all confident, client appropriately clients not we of of significant a improved our health only errors enabling our live financial We the XX the health on at that to clinical and innovation healthcare avoid and we our do, journey. the

to our to about I have turn I'll margins allow our XXXX. shareholders flow be in and continue more with provide financial business in the position us that, Rick, our With the performance outlook. return to results for same time. you. expanded optimistic that call and Thank to on over substantial and delivered at capital, our free cash reinvest strong We of amounts detail the

Rick Poulton

everybody thanks today. And joining Paul. for Thanks us Okay.

performance financial Investor this We trends were in Relations Just are allowing continuation from from adjusted Stephen the significant additional in we our benefited continued structure. significant very saw one free indicated, reminder, quarter. more the discipline in to positive where that's supplemental the And details posted financial We report website. cash our and with available operating pleased second managing EBITDA, us quarter, financial our flow. drove in data to year-over-year growth workbook, as of EPS leverage, first the cost

overview, highlight demand across the $XXX starting XX% items, bookings So was solutions me our quarter, with from year-over-year, we with up let in benefited our which for environments, reported returned as their are now, new of at that few clinical million bookings a We performance. we as for to normal levels. believe optimizing We returning most IT on part from clients financial positioned volumes, focus, benefit to their portfolio. least the well have and patient full

proficient Revenue the believe, $XXX unpredictable, year-over-year become implementation solutions highly the our environment. to sequentially. both our sales X%, will in in was and teams remains second the up continue we of While remote quarter which a working and was course And million, somewhat pandemic have resonate.

research clinical the being financial partnership EHR data, levels value the the as results last that industry. the the stories. to core Accounts though as life two Veradigm last-mile Veradigm actively XX,XXX our PRA's and a patients. than Also more States. reaching opportunities both is second is partnership years new that analytics for essentially a went signed revenue XX,XXX and Veradigm's, chart example highlighted strong development. Courier competitor connection gross revenue part to on part sciences by the levels to as where continues quarter support, which physicians particularly a not United divestitures quarter, care our In passed essentially and of do was PRA at Health in patients of The now are care in acceptable research, technology effort as client in another growth create earlier, revenue on, the a foreshadowed our which deliver margins, sequential basis patient call, ambulatory Sciences, live profitability of tale within and in-quarter that industry's physician and research quality Paul quarter. is pulls was leading to emphasizing study physicians just Veradigm's a or in year-over-year segment their we for the after reflect source for our ICON, our scale, more acceptable of second of boost will different our well brings than alongside profitability. as both, and We our were million earnings to coordination year-over-year use eChart of clinical in nationwide. conscious revenue network for a clinical science in and with margin clinical option unmatched managed. partnership of across a meet Conversely, last segment is and a another companies. on business we And offer and we agreement Veradigm EHR-based within providers so will It really business, this saw on that double-digit life platform, can two encounters This XX nice ours network, now the flat and Our of

for based the progress quarter, this of year business. Veradigm in growth So we the our year-over-year on double-digit expect balance revenue during the

let to improvements it XX.X%, our by overall margin to margin me the gross points now And driven margins. Consolidated So was performance which basis services client quarter. turn primarily was year-over-year. our was non-GAAP in XXX up

tightly. improvement margin quarter of our our year talked organization. improve and P&L, calls, the came continued very efficiency Further about client manage And our to on we last expenses the to line we levels. in productivity first they with this we much began services As down initiatives the in operating previous reflects dramatically

of nice operating the down adjusted strong resulted P&L. the in helped and very adjusted XX.X%. XX% year-over-year we saw in growth a quarter margin EBITDA EBITDA drive This So leverage

Beyond improve. pleased quality am earnings those both, GAAP and non-GAAP equally of I headline our continue numbers, the that to

of period. And $X.XX statement first basis, was reported matter. up XX% non-GAAP On to that amortize retired balance programs. well non-GAAP market burning combination accelerated performance deferred line, this include quarter Our very which current more margin on year-over-year Below through several significantly the Also, our share cost do as as a capitalizing our XX adjustments to are the the recoveries as R&D our again GAAP share, share per lower from period. recovery expected our once non-GAAP we Practice $X excluded during related period EPS during related charges, that a go our from Fusion, And the had the benefit to balance not capitalization was We And for reported sheet, of per of our rate million as operating was million strong limited. reflecting This expenditures. settlement. we down. we our shares we now are any repurchases well restructuring open sharecount. are as income than our continues we meaningfully a repurchase income down received we DOJ

in our performance. the of we generation, which had an our focus XXXX. $XX driving DSOs, result flow. quarter, second down days operations. cash came also We excellent million free in And $XX from of cash generated XX flow This the on free XX is continued in of from at million direct And of a cash quarter operating of days flow as improving quarter second down continuing

drive balance of teams, with as And from thank turnaround. Our ended to EBITDA like generate significant with to in free debt our work we value results cash capital would face the flow adjusted had flexibility, again, us than on the highest look and the outstanding. million for less with million turn last leaves we level firepower publicly their helping finance cash debt net And We dramatic $XXX $XXX of to returns. I this team. continue of additional And improvement tremendous quarter year. client-facing sheet. my to the provides of This us deploy once one

Now, turning XXXX. to our outlook for

prior outlook increasing We million XXXX our our range to adjusted flow And $XXX increasing range are cash outlook free to XXXX $XXX outlook our outlook million to also to a cost million to implemented management continue of from the of $XX to we continued year from are strong a prior performance $XXX expectation our and that EBITDA our in cash This flow million we will half of million. conversion. that have benefit reflects the we've million $XXX million. to the $XXX of $XXX we that and first both our the $XXX from million seen of initiatives

We continue maintain of billion to $X.X outlook the for year. revenue our

with So that, for to call up I'd questions. open the like

Operator

Our your and question Please Ladies [Operator with be the RBC Markets. at will session. you. from line Capital this a of time conducting gentlemen, Dodge proceed Sean Thank Instructions] first question. we question-and-answer with comes

Thomas Keller

a Hey, to arrangement given about for maybe that you you some Veradigm talk economics and Thomas off questions. partnership good evolve, of Thanks Could guys bit little is afternoon. have on on ICON with the for how I'll start This behind Keller and expect see Sean. strategic that partnership the just you acquisition? taking the PRA. the more

Rick Poulton

just Well, I signed. was mean, the partnership

acquisition don't from think is way. to the in I going disrupt So it any ICON,

In fact, ago their the transcript spoke partnership. call, to ICON few if listen that did this you they about call earnings weeks actually a on

with forward together. we catering think it we that, partnership as well the we we that of built in eyes The in is such as companies deliver -- both pharma are and growing in it's value look So economics to meaningful us to. to their growing share

on any go to it's that look a won't we capitalizing definitely than that, together. relationship but forward I deeper aligned So highly

Thomas Keller

of Is maybe Paul, the helpful. that deals. ballpark pretty color the you Okay. any new other enough. just or delays in of bookings? And magnitude some QX be ongoing closing of impact Can on some you some mentioned Fair substantial, would it

Paul Black

things I say. would the We the deals -- further helps It different and it in these probably especially size about, States, all think, wins eventual you of them I to, say, to And despite you ago. augurs and just those the great have that's it's some I working continuation success. that. will. sets, over have lot need we've good having pipeline, better -- -- quarter, personally the like pretty quality they outside I or all was, as It's quality They bit the the United talked good ammunition. things, That's should to of We're in today. like years time a three we that the demonstration where operate like towards two-and-a-half, the are we Azure. with about of we the of Microsoft marketplace time lumpy. you if around a a and from they're backlog. I'm the the go in It of The us what environment U.S. lot well having activities that when have don't to They involved team a timing better with feel They teams marketplace. are having both there, the on always very outside. order global are than as win. a to those it that a what time let's the inside exactly helps want of have bookings story giving have come skill good little in on just

Thomas Keller

helpful. That’s Okay. Thanks me. a all for That’s lot guys.

Paul Black

you. Thank

Operator

Cherny from comes question of Please with line of Bank with proceed question. next Michael America. the Our your

Unidentified Analyst

I a guidance? what's Thanks ongoing could the wanted [ph] for to margin given my outline Charlotte then, EBITDA ask, driving Mike. expansion, you the on for for just This date? question. path And to is taking the success

Rick Poulton

before I in I the of of again, I'll its Well, modification? half function said really year. repeat first how What's performed driving the our think, EBITDA is, we've guidance what

plus whatnot, And that, million numbers, we think our the through $XX that two the midpoint those initiatives of see at ahead at and what quarters. where to continued confidence raise of You is can gives benefits from us I in terms the what we're midpoint. cost by range see

So half well, is the the we've that narrowed given range year as done. already obviously

quite that. giving I If to what please rise on of And that's that. there's So specific have you what's all repeat you'd more a didn't know. asked margin. to question, me let get

Unidentified Analyst

if path Yes. I the was could just outline expansion. you for margin ongoing wondering

would color any you. around there Just helpful. be Thank

Rick Poulton

It top. we I that big in quarters Well, the the all we've margins. supplemental at can are gross done data nice is gross producing put the up see you margins, one the think, efficiencies trailing from workbook starts client job, a stepping services. our of around our as that, we drivers And there

that if that's services to back project-based and you laser-focused frankly been the performance, both services, that as XXXX. to And of as pretty We we've clients. level at efficiency low a beginning efforts. recurring of we So on through well provide unacceptably started other productivity improving go

made we've And and and our off we that. some nice paying are successful progress selling continued balance We'll more steady in we'd getting like with very improvement continue as mix, that's So to efforts software. at to look with progress. that

Unidentified Analyst

you much. Thank very Great.

Rick Poulton

Welcome.

Operator

comes Hill question with the Deutsche with question. George line of from next Our Bank. your Please proceed

George Hill

Hey. the $XX relates million? as think how guess, order the on around, I $XX client points I you bucket recovery When management. kind could to priorities Rick, of improvement midpoint your the to contribute were And the kind some rank side, what call, a thinking million, Good the question. seeing management, raise. And in business I of about guys. you're it they if about those guess, the evening, I by cost Actually, of you taking you your you services would of assume appreciate like I follow-up, to the utilization. raise

Rick Poulton

asking answer half, understand guess, I on I at you differently I'd basis, bit a half, mean, than question. $XXX an are we're can we though. George, I'd you're it, million probably first the little where First it see I EBITDA So, -- right? already.

done initial fair we side really overperformed of And where on cost guess, to relative the to So it's we've that we've performed, I say, guidance. the equation. our

initial I'd So we plan, more built I faster provided guidance. our we've than when or imagine into than -- even made when faster progress our

we with to was far the appropriate what posted bar and we've ball guidance. have for So it on so ahead best what's -- our crystal lift

though behind it And the do out? start way out so top profit what's you're it. that's is would George. that. pretty gross it really to I where That's piecing the begins. say I you I that again say Can P&L wouldn't tough at all of if piece it the

up are margins nicely year-over-year. Our

in strong We was very very was kept continued a or quarter. line kind held building what of strong we what off quarter of fourth -- fourth with we a

jumping. led And sales there. why That's line I you a of EBITDA progress the made on labor what we costs to most see outlook. nice and on cost just we've maniacal margins focus good done the our is costs cost labor-related our mean our on so of efficiency And efficiency. that services with combined guidance our in SG&A those performance has and keeping is job

George Hill

is guess portfolio No, look there if to thinking the were there? recovery to in And been was that the and I then had it conservative like are What how it's was see Veradigm was you wondering guys follow the of one start services any you changes like lift -- business any like business? -- about would that kind I guys quick Rick you. guess the you thought the nice as part. wondering on the I follow-up. I lift cost in the part for of what extremely we you the was out was about sounds I services And had Paul make I recovery you the in can have you but maybe helped a --

Paul Black

of bunch We We've spend for money been do looking We in things. on would deployment. we always we what things. had -- to if that always go in upon of we've to accretive extra a way way to capital we've success build the -- No. the highlighted a with we continue and demonstrated like certainly certainly cost-effective in our an would would all past

position what in to where to you your about pull It's in conversation of nice could George specific that's we've nothing and there's different talked than where at where to the this So are a things kind look clean, things I have that be that up now there. you out are would have past. opportunity point right head

As there there's at things at not probably lot that extraordinarily of a of are of out that in other are today. lot to a looking things going as are there frothy looking it carefully that the as we're it be and a are you know that there's out that lot marketplace people

George Hill

Okay. I’ll hope guys. queue. back the in Thanks,

Paul Black

George. Thanks,

Operator

Our Eric from next Percher Nephron with Research. question the line proceed Please of comes with your question.

Eric Percher

Thank how you the base? you the think product more relative And you additional physician guys. mentioned an Question Do the success. this there leverage and stemming then simplicity get that the that appreciating interplay at ambulatory see and know Ortho Paul still or into with as I on you improvement the is strategy? for Veradigm you capabilities from from about Alliance. you sales

Paul Black

well the a Veradigm, There's is extraordinarily Small by lot practice. we Fusion meaning covered less cover of and that that the two small Practice physician different markets a solution.

and starting new part that the of clients just market. a how Our component we get Eric ability still always of bit bear from. wallet share the robust. the going part of That is fruit is has get market of many than in amazing more a the forward you will strategy that to relatively the we're of new part is that been that if out to It

get also business. clients, in we but have data you because course it You do the of sell course get the you only but part move not of that of them like of to to lot the meter, a to

a a the That in marketplace. solution capability. course you the over outsourcing and organizations TouchWorks or all have a On sent the that's That's just back has been back had X.X, of do. outsourced some that's last by of in the in years. a with home some in of with new working people cycle could marketplace with I'll been combined something in managed the with were the gaining the we set if a of the acknowledgment both the Pro be will pandemic let's -- X fatigue augmented that people been office cases offering new And provider those by that we've just frankly that potentially as revenue that's midsize quite effectively say Azure their the management capability end lot which traction more that's of the all That's actually during say who a and bit third-party. are

So breadth offerings, as traction the a or platform combination technology lot doing by a of well Eric what we're standpoint. of getting a as the from of we're across

Eric Percher

I'm agilon's for about see of that the you ability helping think that to we I'm curious boxes and when a enable risk. And physician? physicians organizations thinking to lot the your think oaks are manage villages. you technology do about nowadays the the How

Paul Black

I'm what? sorry our ability to

Eric Percher

role to that the physician might there? Enable risk? The have on you take

Paul Black

Yes.

have in contract past. a information that they I didn't we're using the bit the Eric. cycle think we're quite them actual of to partners The do giving -- on revenue the management that perhaps today, management actually side, component giving we're that of

clients we marketplace of for native of not do. actually regular those cap which So that but of on that that's very which especially, currently capability basis, building we're we California some a those the largest are in capabilities our doing have, inside long it's what has -- period that some the been of time. full We're for operate a

cases -- help go we're markets we In some using to us. we're able offer a into we third-party qualified when that. those So to

Eric Percher

you. Thank

Paul Black

Welcome.

Operator

the comes your Cowen. question. with Our of Charlie proceed from next Rhyee Please question with line

Charlie Rhyee

rules. about the for Thanks rules ask I taking to --interoperability wanted interoperating Yes. question.

And guys interoperability of the you coming rules kind them this from created also about, your rule started for through? talk what clients? for the And of, looking has new help comply to of opportunities summer. I with of sort think enforcement all Can they're readiness you Veradigm? extra what the kind services

Rick Poulton

So of -- are lot good Charles rule with our business clients shape interoperability. CarePort the the in that a I actually We think, notification we that were very of solving elements we divested. on

so to and that the continue solution We It's of solutions CarePort. We our a become we of bring our one with elegant have those them -- the or CarePort. rules. for a to clients That's clients for is available that market only reseller most in have all that of agreement have frankly very comprehensive. clients

in So we they're good think that. that shape very from

As now I one a won't Veradigm that. don't direct now opportunities mean for Charles, emerge see as in doesn't from rules on particular. far but we link right it right those see

Charlie Rhyee

And could Veradigm. if great. follow maybe That's on Okay. up just I

to interested you clients expecting driving this double in digits kind particular grow strong can us in? growth understand very looking products Thanks. What what's the You're Maybe it are at the of expectation? market in resonating year. are and and help

Rick Poulton

I in mean we of. relationships footprint have ambulatory really of partnership science an is frankly that with an the is almost comes Veradigm from interest across to size -- the life is we've is the our to lot right know of the that And a now. a so Veradigm. you very life incredible collectively gets the Yes. everybody HR becoming that's of really for care. pillar our a And comes around phrase multiple that. fundamental what leg. of talked tossed calls now But But footprint unparalleled stool legs there platforms, that sciences we one traction life have getting that network this evidence right point shift the a an real these is sciences has between of the getting Well, is drug multiple that's on third-party And access a that lot. in of what fundamental answer really as about space the PRA we discovery. deliver example a real-world to plus -- some But And

right our it not Veradigm's and piece of absolutely outlook a wave doing thing It's that that's big for the it big riding part is what's of revenue we're a now. only but So behind Veradigm.

Charlie Rhyee

it. appreciate you. Thank Great.

Rick Poulton

Welcome.

Operator

question next comes SVB Stephanie question. with the with Our Leerink. your of Please from proceed Davis line

Unidentified Analyst

This follow maybe Thanks. guys. well. business. hoping R&D on Veradigm to the investments what you is And was Joy Stephanie. color And you Wanted top for Hi, on if if making currently kinds investment of are? force-rank on your provide in-house can up you're as in some what can focuses

Rick Poulton

that tokenizing we have that have of first Well, to of a make where respect is information the with relevant. investment. we Look lot the the part to the most organizing is it it R&D Veradigm information in question the

physicians getting with dollars. what's tools of use so Veradigm -- the patients is And of that ease kind at and bulk for along the is of

of -- the company? So of question or broadly that's and just part your Veradigm the terms think second was internally that specific for I in

Unidentified Analyst

Both if possible.

Rick Poulton

I'd at Veradigm. same also I'd the potentially just we'll same opportunities there. we're look long-term then investing acquisitions I the around place say Veradigm a it's growth we'll today We bolt-on add where see again mean say -- level are to invest. Well to continue priorities

some be expensive at in make Assets smaller space scales of data to for around sense assets. tend us That it be some that it registries augment our to be but could could around to or may -- we're like capabilities that going also but the than build capital. invest rather to we'd growing to organically. broader But invest company to we'd be with the like judicious look them keep company other

So high we're sure have making going have go and business capital. before the we for good a investment to deploy bar model we on return

capital of we've shareholders very debt -- We're had return go -- now. right our recently. been you comfortable lot very know with levels a As we've to

So very I the Investing lowest -- highest has of good our paydown but on priority, to at expected value a caveat debt business in have it this the with has again is juncture. on return make investment. is priority the to think

So...

Unidentified Analyst

just ongoing program. helpful. investments question repurchase into you're the That share leads That's with my right super balancing next of how your

Rick Poulton

the investments with repurchase partner? share ongoing Our

Unidentified Analyst

Yes.

Rick Poulton

now I dry Well, in an right we ton powder. a we enviable position where of think are have

not to on we don't those the all. improve flexibility. of creates continuing feel free flow paths we Certainly, generation even So, constrained business cash more don't feel at either And constrained now. right of

think our vocabulary have smart in the access that to. with don't capital It's just about being now. is really really I we right balance So

Unidentified Analyst

hear. to you. Thank great That’s

Operator

to no [Operator the Mr. to questions in Black hand I'd Instructions] queue. the like are further There for call remarks. closing back Paul

Paul Black

the front for clients our and pandemic Thank delivering results and you I'm with a innovative on shareholders progress COVID. for for has challenging grateful the into broad time for our our new XXXX-plus who since our indeed made Allscripts of This our XXXX. associates, clients, very been much. line and importantly this pleased who QX are leaned I'm we've have associates. of the solutions delivered industry

flow. allowed full our outlook to performance cash year for half has us the free EBITDA for along with first second increase and adjusted Our half outlook both XXXX our

appreciate your we trust shareholders, As in Allscripts.

do you. with continue will performance. We to strong to everything we that Thank confidence reward can

Operator

does conclude gentlemen participation. this you and Thank teleconference. today's your for Ladies

You have at time and this disconnect may day. your lines wonderful a

Veradigm (MDRX) 8 Aug 212021 Q2 Earnings call transcript