MDRX - Earnings call transcript Q4 2021

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Operator

Greetings and welcome to Allscripts' Fourth Quarter and Full-Year 2021 Earnings Conference 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. I would like to turn the conference over to your host, Jenny Gelinas. begin. may you you, Thank

Jenny Gelinas

Thank you Allscripts' welcome the afternoon, much. Quarter XXXX Good Fourth and Earnings to very Conference Call.

are our Financial Our and today Paul Chief Allscripts' speakers Executive Rick Poulton, President Officer. Chief and Black, Officer;

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

Paul Black

us forward you over thank events associates despite years. demonstrate who for I'd my to colleagues unplanned the This and want success means has to to continued two what driven our thank delivering I the afternoon all-in. to past have occurred and for start bizarre be all have that certainly unprecedented at spirit such Good by Jenny. joining us today. Allscripts all to Thanks, like recognizing strong results.

new clients to we pandemic began event. everyone, through great We June the by had ways XXXX a was quickly our on the unique globally we of course a and discussed global Looking outcomes back over once-in-a-lifetime our and dedicated a past associates' Allscripts we the were performed, We have be XXXX. all programs a focus amount associates. to business. today of The needs. to the by massive experienced pivot blindsided respond like work during There of the February what needing months, created hope substantial XX running

year and core reset base, the structure. priorities, reset client became on solutions and Nowhere year sheet operating however of our in effort One at discussed creating invested cost to reset we our globe, realizing. we clients focused capital supporting, our prior of where fell value that the labs rapidly unlocking that are in part to on the I'm services were functions through management cases, virtual where the cure across on-site proud most of the in but our with the inside who the serve Allscripts manned directly are most very vaccine life client the move business, more of team difficult we norm to than success position changes Those pandemic of years. executive safely, to home see the frontline our with all ability clients results daily and organizations. the studying trial our and the upgrading across were decisions fog of We reset we our all that pandemic. environment Allscripts, running, remote the the value. and people now except installing, for making balance collecting, the an from portfolio, the help the Working for in ago and on were create collectively a selling, to the to of research were clinical scientists reset two his

supported forward continuous and the free with years results, improved Allscripts cash investing Executing investments over has solid performance continue the flywheel returning on consistent the full made delivered XXXX while the advertised, the significant XXXX. multiple recurring on focus growth results. year create at distinguish in and in conversion delivering, data team were EBITDA us and and the delivered agnostic clearly the which and the business. portfolio. focusing in strategically highlight Board a pleased highlighted these I'm reflect momentum highly platforms for important our EMR today. flow marketplaces Allscripts of as and capital remain platforms margins, Allscripts revenue, marketplaces. We also our into existing today's We on to XXXX to improve These company plan established priorities allowed this financial adjusted globe. around to These that strategic make Rick where expand have us will sciences relevance to we the life research by analytics, how and payer, are depth reposition solution we breadth the have the relevant investments us investments our to our

for Kingdom We NHS United cloud, continued hosting, A in cyber, our to investments in have has Foundation deliberate Its before driven telemed, EMR platforms. the whitespace, In Patient Allscripts Administration to Clinicals. quarter. also UK the faster highlights Medway be of end fourth the any This make footprint XXXX. cross-sell opportunities was deploy by the outsourcing and than Sunrise cycle. expand deploying client, core revenue Trust few interoperability, to System solution other the with live agreed to X its aim Phase

XX.X. more is Kingdom XX met was altered six Sunrise HIMSS five now designation. teams challenge in and Trust that achieved COVID documented with notes trust, virtual Medway under deployment NHS months. Foundation XXXX completed than Heart collector that They version has Also cardiac hours in Liverpool of live Our just a the in premier level Chest United clinical the first deployment. the in

the the stage milestone achievement for HIMSS a and supported significant in our throughout major company, patient is through have the full first teams this Liverpool journey who Trust and this client our for As United a safety, six Kingdom, digitization.

expanded XX client Sunrise selecting Northwell Our Solution for Perioperative longtime their partnership by Health Allscripts hospitals. with its

opportunities market expand Brooklyn SIS, for patient important record unified whitespace in the investments Cloud client. our addressable be business in of health. for simplify Downstate platform created Allscripts to SUNY All to solution. examples migrate point single Sunrise for our Azure clients, solution signed of wins core deliver and party that a will the in a and Our third that these investment replacing are

Kentucky Moving ownership for to Community and decisions. signed community Sunrise of Jennie also all control SUNY clinicians decisions their to deployment instances, comprehensiveness proud the both experience local the their A in a their solution clinical Level Allscripts Instance. connectivity, cite also move locations. in platform on Ringgold EHR Care to as Instance better selected has We're Urgent leadership participate term advance costs Next from in Community Stuart to and the Hospital to platform with to patients. similarly who their greatly Health, the better of Paragon Iowa, of Sunrise while financial partner hospital factors Care client, Paragon lower allows long replace In [ph]. improving to Azure cloud analytics existing selected their Hospital, in Care in SunCom provide Touchworks maintain and the ability to and key its workflows, improve EHR

communities. fundraising in of to Allscripts A is proud I dollars efforts. our of of by where to culture shows the of I'm raised recovery In those a part for caring relief, giving these support show communities need, participated across communities our to on response. relief refer thousands that company. devastated our up. Southern eight Allscripts soul this of United we tornadoes people affected our We Red as up, back distinctive are When the Now extremely December, in the for of associates communities in Allscripts and and disaster Midwest Cross, States. live.

Alliance, environment our is Allscripts open with critical enrichment Allscripts. the closing, outcomes providers, of remain foster in help made every Black distinctly community continue to all voice deliver and investments is inside and three we solution mission This positioned introducing for two a have Allscripts months, company Veterans groups, and Outreach we've research we Women's valued. Hispanic addition and at in market groups the associates platforms to heard in expanding that Generation new build to been past of about long programs organizations. for payers, Over new sense enrichment and few we to is optimistic and enrichment the Allscripts Allscripts; successful in which believe standing Allies, and These at Engagement pharma, In our Next. Latinos

offerings. recognizing driven us agility, well capabilities. our distinct for solution and New position should Selection and XXXX appreciation attributes client our driven These for increasingly methodology, are our are by decisions prospects our beyond.

Poulton, I'd Rick to the to Allscripts CFO. Now, and call President over like turn

Rick Poulton

Okay, Paul us for and joining everybody, thank you, thanks, today.

Relations combination Just fourth strong per our website. that in workbook and details In our cash of one financial more resulted Investor along by year-over-year the financial are margin and posted best with indicated, very was and managing driven reminder, leverage additional available as growth the both performance for supplemental had experienced we summary, adjusted QX This Jenny by share continued our structure, and that strengths quarterly years to it sales both, significant in far discipline was and quarter is the in and earnings in flow. EBITDA, our performance, seasonal revenue. cost traditional forces in free sequential operating data

high a reported in So up million revenue, our XXXX which bookings strong workflow million, sales, which performance. during fourth starting was margin revenue and quarter good $XXX contribution was items Like up the we year-over-year, software revenue year-over-year. a from let had highlight linked XX% quarter was $XXX of quarter, with in fourth the X% me bookings few with overview, with revenue new that We the contributors. and of quarter of very mix the are and both which

physician year-over-year be several grew with and been results large while our X% revenue quarters to different and practice year-over-year. case of our a has As continue the being Veradigm X% segment down our segment now, stories, by hospitals two for tale

to is stated at we calls, greater doing with As these enhance goal and bring transparency what earnings your on many times investors to I've are Veradigm. understanding now our

we world of of the our conducted quarters that the research, part impact eight to and that be analytic the will quarter, project Moderna electronic data, a for of impact healthcare contribute commercial been linked focused In a real results. during record and of separate reported real In better services world of the to signed to COVID-XX of COVID-XX for we data quarter claims studies aspects in will deeper several of vaccine significantly we this These segment data providing deals deal the future the to provide consulting, vaccines. world's will of different be I've driving on studies reporting executed now, health fourth U.S. database last the Moderna's clinical gaining understanding with XXXX, that population. initiated examples addition understanding using quarter

be also health a care speed do we processes. we expedite Additionally, payers an of the extraction. the whose capabilities ability us will it meaningful Veradigm contracts. where and near expect time-chart and XXX more Administration, our physicians evolve is the we objective time agreement improve catalyst integration efficient acquisition only quality have a process as extraction will real effective benefit gaps adding and the prescribing providers the Not to and new to financial to be to disability approximately contributor, the close continues this quarter. through a we for will determination point subsequent with trajectory, chart to record signed real during recently near Security Having Social data growth manage Overall, and platform its at risk XXXX provider practices and both contract

our P&L, the strong operating resulted I quarter of XX.X%. drive that down and the adjusted benefits the So largely basis in gross let points margin This overall Further EBITDA we the sequentially. driven expenses points EBITDA by to was year-over-year, basis turn the XXX margins manage growth tightly up year-over-year helped continued very revenue in and margin it and which was XXX earlier. adjusted mix XX% quarter. now, XX.X%, Consolidated to in performance was this non-GAAP me almost described

Alongside We cash million also free we cash flow million days quarter had performance had free flow an year our well AR as from we operations excellent history. the and working $XX of and capital strong the ended the company's flow. generation earnings, of with in as continuing lowest cash of generated $XX outstanding

the that minority our performance, cash year-over-year the share, quarter. up in million Below well XXX% recognized allowed want during as shares, both reflecting activities the rest a to flow basis, income million free of the for activities no thank interest of This end on disposition $XXX cash of share of the operating change outstanding also line period. a the to So publicly, from a count. resulted in compared cash we X.X quarter, non-GAAP during and our from work repurchase third team Gina On to improving of stock common we equivalent tireless plus this I their operating our essentially the strong generated per reported investment of portfolio and EPS held statement gain the debt measure. we million net inflow, $X.XX $XX lower or inflow share as Chad, this really which was per cash our us with our in investing

I now, my want So, XXXX. for by up remarks commenting prepared outlook to wrap our on

outlook $XXX revenue consolidated XXXX growth million X% year-over-year, for million. consolidated of is X% Our XXXX between flow outlook free and and range cash a $XXX is for to our

like that throughout everybody to Board a our authorization expect we $XXX to million the I'd in to utilize remind January, would year. approved new begin and Lastly, that repurchase

I'd open any for call to And the like so questions. up that, with

Operator

proceed of Thank question with you. Cherny First Instructions] America. your Bank Please comes [Operator Michael from with question.

Michael Cherny

to start. end the strong year. afternoon Rick, congratulations just question a maybe guess, I a Good guidance on to and really

like thinking cash roughly P&L year, is is last of say when free moving revenue growth it continue likely other, down of to that years? of seems based couple generated slightly sustainable the some metrics to expansion safe you've You line the guide EBITDA in that cash the is above about over or free It on the the what consensus level flow is generation. number for on and

Rick Poulton

one million we the Yes, up cash guys of very little of we'll Yes, time have cost will the came midpoint to is XXXX. mean, bit a first where that of know, we top in $XXX you I continue of improvement on see for good side. continue is, right in, look, comments. think, Mike, thanks, $XXX of We that for in the that some we the of, flow similar we'll million on trends. to bit think range all, had thought And make little XXXX I to

all, free cash think expecting was in EBITDA for basis. all on I we're So good a an the proxy what

Michael Cherny

and year picture certainly about divestitures. Rick, realization was and the helpful. in driving maybe things cost base it, expansion. getting for of a Paul big capital then probably XXXX Got the with of cleanup the and And lot started question, was portfolio margin significant XXXX

is the think about to year, what you story the pathway As theme value creation? kicking next of that relative this off for XXXX or

Rick Poulton

Yes, then to see anything. I'll if wants add and start Paul

our sure done wouldn't we're thinking first I continuing portfolio continue we base. cost optimize are I wring Mike, from the think, to the efficiencies off, say nor we making done about portfolio, to and out

themes, headline means any So the are I agree, those by not were in those but past for us.

large to our continuing scale and very not years actually increased and really of hear is it's a market discussing are into, that Veradigm it, TAM of we're that's real around think opportunity. and some we we progress very talking creating investment what what of think that years we're about you have. I building on and real the just cadence is what emphasize We through a expanding adjacency. It's a we're

And to have creation clients share so continuing to value I grow. of we adjacencies with the think off are are we will continue win how wallet

Paul Black

summary. that, good would very like to add Yes, I to

Michael Cherny

much. so thanks Awesome,

Paul Black

Mike. Thanks

Rick Poulton

Mike. Thanks

Operator

RBC is Our question. your Please next with from Capital question Sean proceed Dodge Markets. with

Unidentified Analyst

the Keller is for for Sean, [ph] good afternoon. taking thanks questions. on This Hey, Thomas

off starting in was quarter, maybe you good can little bookings, coming competitive that the to proportion more business what the on relative So composition visibility us on is share core of from Veradigm-related wins? give

Rick Poulton

to quarter. start first not level there. segment -- we now. year-over-year Well, where We haven't some out a joining the row we product bookings our and quarter for ever or it hi a going year-over-year in Yes, growth, off, call. a was growth level had Tom, at we're thanks broken We fourth was good the like

it's that's was it nice driving XXXX. So, no point what sign low entirely. But business. recovery the across place There's off mix a a one the of I of think that's of

heavy We're We our our in business bookings as lot across nice But are -- centric provider off still and space a of a revenue we skewed are are towards of getting adjacent revenue. getting parallel contributors science the lot markets becoming well. providers. of

Unidentified Analyst

longer target margins Veradigm and versus more I Yes, a mean the in on how think impressive XX%, fair very then thank segment? on sort that for And that, EBITDA quarter. Certainly of should you. term we the any detail this about enough, drivers little

Rick Poulton

reminding guess mean, I -- I to year. mix answering start quarter, I of is it's by quarter Well, the that you, just fourth nice the best always by with a mix want

to some have you tend leverage. significant spending and clients that yearend some You gives by really

intensity looking our capital see recognition, you'd margin we get off and a we very QX really pattern just back opposed it's business. a basis to build operating best -- to to have nice So, -- leverage we'll we're as profile, be year-over-year a quarter you as to there. lower continue tends I good see good little opportunities nice, you start to mean, think to the about you sequentially. But, try there. and a a always It's of excited have and it's grow at

Unidentified Analyst

Okay, on great. and congrats Thanks year. a good

Rick Poulton

Tom. you, Thank

Paul Black

you. Thank

Operator

next question proceed Our question. Please comes with Cowen. Rhyee from with Charles your

Charles Rhyee

questions congrats of Yes, thanks here. for end taking on the year the the and

to kind kind the hospital revenue what customer And this obviously, the away? You of this looked underlying for would think losses, those to given remaining of and off challenges that centers. for expect what -- to has of attritions, business just for fair of academic corner sort we've segment? we revenues run from year, it the left guide work a go looking offs revenues have through the at in kind right Is the some the and of it point know, business is have here most maybe to turned we we've growth sense here, like we or and you've in in the think at attendant the the had of do Rick, run particularly

Rick Poulton

the X% like the here's The when in try think Look, attrition, and was you larger you I'd X% that you that the of kind about you going top thanks long funnel, towards more don't about a or much then answer. use if funnel, that particularly and it's a the I knife talking see, which by there. QX given the transition saw QX. a on to We, bottom kind I or ultimately the joining in to business very coming in the of back Charles, presentations practices, I'll of a that down out is had metaphor when you hospital how pattern XXXX how to had in guess steer kind of come systems can is bottom. edge, you're year-over-year in little us. we've see thinking it segment for like large Hi, while see Yes. process go and any health through attrition, and you But the way out of about of talk about it's funnel. comes Yes, the top P&L takes it like into

So trickling good about I and pretty we still trickling But XXXX that some some through through still bottom bottom, regard, in that. we'll feel the have well. as in the had

can at average, trends think the not done revenue about by and we've on trends I XXX% you can the had we're you some that, segment. Veradigm So weighted run see hospital that with some basis, guidance think off. we've consolidated a at can When our see we're had and that see you not you

Charles Rhyee

kind it you maybe the further would beyond get this but into you some too even expect we to future? as we we do would much you year obviously think then and would 'XX, continued of That's don't ask bulk fair, through but -- this growth, see coming should of think the acceleration about

Rick Poulton

the a the profile Yes, academics, I will, a that customers the lot the our Charles we've of metaphor or image, we there, so into saying, going kind of of you if what the is think mean, of the as going again, don't kind feel with lost course the of of you of staying top we that of anticipate sort funnel. we'd mentioned, new lot I and most run comfortable of

of client have, the And but What or in the of back would on to our in XXXX, the in continued bit is I industry, we'll what are can't mergers residual it's at profile the out a or of think terms the consolidation back half year, almost right the end what of have best predict, the now. done we we and outlook so course, the but most, little march that's in left have be could swing with what looking that base happen lot of effect through we're our a of -- today, attrition. may at really say run there fair we're

Charles Rhyee

the to of That's helpful. kind out Anything flow made to good of, something, up make is, just some guys cash we're modeling account? sure you for that mention kind as EBITDA, And some 'XX. into of call one Mike's to question, of which 'XX good in to follow about on proxy free a mentioned you you really want you'd as take

Rick Poulton

may that -- we wasn't Well, it insurance you million funds dollars our that had recovery I single companies, QX unusual, one Charles, was that think think big an would this about. I'm numbers, of a digit we but talked, it we talking from is recall, but been I some of have

not much little of XXXX in is XXXX So had for we gyration, top XXXX. of but again, on bit really midpoint saw our of range and what a

to think the is I place. XXXX you as in think bit get one-time XXXX so of it by of kind same had the little in we of of improvement can business the to goodness offset impact And

Charles Rhyee

helpful. appreciate it. That's congrats I And again. and thanks

Paul Black

Charles. you, Thank

Rick Poulton

you. Thank

Operator

proceed comes question. Our Sandler. Jeff from with Please Garro Piper question your next with

Jeff Garro

hoping Congrats geographies? good a could the trends was more for the Maybe Yes, go expectations angle, that's afternoon. international discuss quarter thanks the for you one different taking from I mix questions. recent and on forward OUS business and about

Paul Black

solid as helps States States. the we've by which United clients other we the United folks are those the there. in Asia the you realm had Pacific of but trusts people Canada, as outside States in good Kingdom, some outside in partner, the lot States, other it will, wins And a good a Those in all, good United high. is reference specifically people, like quite have some looking references are people, is outside the that deployments, other for the the inside United United preceded Sure, the great, ability meaning if

period past out we participating time. in and a about talked larger lumpy unpredictable phases. in, long that opportunities some we've been in that however, As the and at of come for on there's have there, Those are somewhat working

in them, that on win can what's predict it's we and given or with be the now going have so but forecast especially world. happened So pandemic and we things some the want the difficult us very that to rest throughout for them, and other of to

at global that's Health the United there. decisions the made a of typically are typically at level, a States, Ministry business So, basis, longer outside but at level, there's the government cycle, sell

had we've expansions. So other

well that as well. some that certain geographies, they So other you they expect said, as the them from available, have, our inside as announcing in trusts of if States, participate solutions, to assimilate additional suites organizations, will, to we in, will they're we we geography-wide clinical like United some many be more make of are going we as interested that perioperative go in certain buy in with as arenas as they'll adjacent us and solutions and

Jeff Garro

year as great of off backlog. the growth same level well not year, hear, helpful. me, year moving drop in that's growth could you of for help this just about reconcile some strong the next and expected guidance maybe Nice bookings really thinking to the in from revenue pieces and next one quite as more the sequential revenue different just the us And then

of timing So just how growth contributions? factor into different the the different and revenue contributors the

Rick Poulton

you backlog, revenue. mean, between it's, in line Jeff, your -- very bookings I and direct can a there's have Well,

a is we of what in we an bookings, count is, bookings deal. it's least of aggregation recall business you'll and new new value As the contract count at what

adding come a I solution say, So, if when there, you years have term and, it deals you're there, begins revenue and to goes actually years averaging longer should or you're multiple live. to multiple

And so a when can you between go gaps in have time live. you contract and

revenue. there's little the gap as well. business always other bit includes everything that's relative on a to bookings of hand, renewal just Backlog though on So

into will when So, have renew book, let's bookings, effect will backlog go where around, can in that, its large, full And then or like cycles that on are contracts. value. contract zero then managed say, large and depending but services backlog renewal something contract for we for you in it on move a instance,

to maybe to term there's line but near have that you hard draw just it's a So good straight periods a the couple in measures. between recognize over connection, long-term, those

we've we for early So of Those next will our what into have in XXXX. the impact areas revenue expect year direct on as the of half what well the back for be revenue. to as sell XXXX, in terms most done takes outlook account bookings that XXXX

and So consolidated our we both factored in to business of guidance. factored that in come with our segments up that across we

Jeff Garro

that's one-off that Okay, to you downtick helpful. activity got just attributable renewal it, backlog that And considering? the the be clarify we discussed to anything is the that sequential is, should or there

Rick Poulton

I renewals. Yes, time a it's say would just in point relative to contract

Northwell. contracts. put And we So managed services large with in -- you if to of it obviously you trace time example. when and should function renewed back, that backlog that's as we had a as a large, But on agreement in then very you large our all renewal uptick of think it so rundown goes backlog chisel away one on, you start just cycle

Jeff Garro

you. thank Understood,

Paul Black

Thanks, Jeff.

Rick Poulton

welcome. are You

Operator

George is from Please Deutsche question Hill with your question. proceed Our Bank. next with

Unidentified Analyst

thanks taking Hi, for questions. for the it's George, [indiscernible]

the So of in the we started lot press healthcare seeing last XXXX, the technology, cycle many and in around a headlines trade ended use purchasing EMR given of systems, 'XX.

you old. of are Are market most these of six increasing deployments interest? Thanks. lot drawing in years what functionalities now? And demand or a right specifically, are the seven seeing already the So

Rick Poulton

momentum and Paul I would replacement coming US, the comments earlier, significant it's now a years. always perhaps be aggressively given certainly there's say market. in largely been relative a replacement significant trends we wouldn't thing, opportunity certainly lot out if there. wins Ambulatory asking of to first not health systems I has International we're some system a about mean, another market, yes, a market those in year right, time that question the the understood change churn. would Yes, you're using your replacement demand mean, here market two that's of there. referred those right times, large one the -- market, But replacement I I people out -- these to of definitely to volume profile last I or not there's It's for his that's in. have of mean, we on would say participate several now? demand space. seen in the the wins a a share in the some in the are adoption. change seen out replacement. we've There's same become in its what we've market years

Unidentified Analyst

Thanks. great. Okay,

Rick Poulton

the question. for Thanks

Paul Black

you. Thank

Operator

Our next Davis Leerink. question proceed Stephanie question. SVB with your Please is with from

Stephanie Demko

Thank taking congrats not question like in quarter, clean, while you guys good and but my coming. a which I on a a quarter, good just for it.

Paul Black

you, Thank Stephanie.

Rick Poulton

you. Thank

Stephanie Demko

few the a had side out called on that in quarter. you Veradigm You the wins big

the So to be of revenues? recurring us it think improving these is think be something might his up And does Veradigm be mix improving one, that growth guess on the revenue the going follow this mostly rate stream, line just going to should hadn’t a business Veradigm hospital or about? to that thought model. to I How I is refresh growth, helpful question digits like hot thought we Rick about have I a double low more completely of Or else stopping top down sleeve bleeds? to the you as on recurring a and the getting about if it

Rick Poulton

hospitals. some of some guess all Veradigm is feed so our doesn't even off to I'll physician reverse little of well, is, but hospital can't of I little base. maybe There you or Yes, tricks. clients, my large a physician practice business that My in very larger link The very heavily opportunity order. of to mind base take bit our tell stuff, I

So happening are a is, relationships, gave customer about They'll Moderna case have Stephanie recurring I provide way of example profile a kind that yes they the of few continued -- are you, doing I've the in the different the hospital doing Veradigm. what of, illustrations the lines or I've of the bearing relationships trend whatever to with I we're projects it little doesn't different but we're like, frequently, customer would business solving really think The recurring on mentioned there. anecdotes some study. DLT, in mean, business of I are in a

top -- different working kind are on long-term studies necessarily social and them not of we're So as to that should they're be that that for very recurring. business. mind example that be to topical The a are we'd long-term, security are think these recurring of would of will with type of expect quarter activity, of administration I That them. think every you doing

The the that end science entities higher and XX% on from and Veradigm science or So, coming science payer growing life is and as and are we've a would provider from a past life side both our little markets. what than revenue is profile It's a payer to the shared as that the markets. payer current sometimes a foundation but assets of comes life payer the to nonrecurring life providers the growth bit growth and in it is XX% that that's interesting mix gives side business science that's is us today end good and on provider the of and recurring describe the significantly And business. clients. pertains I the really about mix side,

So, we other opportunity provider and keep that the side. a strong growth on the the on side, the foundation allows

legged much and very So, three a it's reinforcing. very self stool,

very there. runway we're opportunity these has to are and so So why to that's it that's talking think a to about to our from markets, end it where we grow large more, them continue we we're why continuing And in lot again, of sit. invest

Stephanie Demko

Veradigm have opportunity lot is to you assuming margin, a believe slow thought revenue, meaningfully? reason at Continuing healthy in incremental and a down any margin should then, on the that I'm which recurring there expansion on pace of more comes that sensing

Rick Poulton

bottom get that margins, we're operating as leverage Stephanie line. there's when and think leverage definitely I we not I sure should to particular. nice be changing I'm so to expand probably grow EBITDA we about down margins will operating in but talk but No, room, those Gross going at the some think much, the we'll get continue as that

Stephanie Demko

to again. hear, congrats Awesome, glad

Rick Poulton

you. Thank

Operator

is Don with question. Our next question your Please with from KeyBanc. Hooker proceed

Don Hooker

good detailed question. quick, Great, afternoon. Hey, quick,

shares? repurchases, more share current share sort year baseline of what purchasing this our timing on sizable count the the be of I be sort trying the quarter, guess is fourth repurchase of Given may as get going what's through to share could you into the your I'm today?

Rick Poulton

you It's code, on not if our zip if at you're look at mean P&L we it -- at in and that's Don, so calcs, EPS I it's diluted you where basis look -- a that the look fully QX to close pretty are.

waiting So, in to got the didn’t in we so got we it. a get lot the the but we full quarter, done it decent of of early activity repurchase weighting quarter,

use you're when numbers. far you So, off not those

Don Hooker

that social you the that, big bookings sum big a was you. of very was quarter? the Got obviously were strong, like in that that And there bookings piece security lump contract, in a referenced large

Rick Poulton

as No, Sunrise we company. a few couple the across things. We whole came mean the wins I had had bookings of well. a

Don Hooker

kind supposed also we're clear, make that that Are I Got well, I versus of you in last bit, from be to couple a as guess you're little just you for to from but flattish And was EBITDA here. of one be to mentioned me, flow a that? The going clear. margins sure to just flat I are saying free be cash not imply want want think it’s kind what questions, to guidance confused ‘XX that I ‘XX. you. Just I'm saying is

Rick Poulton

I what think you yes. far, given infer you that from what can I've so from

Don Hooker

have Super, Thank wonderful a evening. you.

Paul Black

Don. Thanks Okay.

Rick Poulton

Thanks, Don.

Operator

closing the over Black for We turn end have back like I reached the would comments. question-and-answer to of session. to Paul the call

Paul Black

much listening, listening very you the importantly want are appreciate and listening the Thank to today. clients who time. We I are And are associates all all prospective who your the all who thank clients Rob.

questions able us we the and because as important for to great this, tell been everybody appreciate be able environment. for asked this in it’s but to also we us to appreciate be We well who’s communicate to importantly, today, call think on story that the

evening days. you forward a sharing our with we in as thank to soon can, So, you as and look you. Thank all. XX results Have we good

Operator

conference. today’s concludes This

your lines thank You you may for we participation. and at your this time disconnect

Veradigm (MDRX) 25 Feb 222021 Q4 Earnings call transcript