MTBC - Earnings call transcript Q1 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to CareCloud Inc.

First Quarter 2022 Results Conference Call. [Operator Instructions].

As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Kim Blanche, General Counsel. to over and you, you. Thank

Kimberly Blanche

Chaudhry, Welcome Good Johnson, Bill XXXX Founder Korn, CareCloud's Officer; President Hadi Quarter our Chief and CareCloud the Call. morning, and and On Karl Director; Chairman; our of everyone. Conference Haq, today's First Mahmud Force. Executive Officer; to call a Chief our Financial Executive President are

of for statements the as are Before made financial expected performance, during statements Act you business that forward-looking within statements, as Section All we during statements certain without and amended, this outlook, begin, of of of call growth, organic growth I Securities and XXE other amended. guidance historical would including, like Section the facts XXXX of our made of and future than meaning conference Securities Exchange to call statements XXA XXXX remind regarding acquisitions. limitation, operational forward-looking and this are statements Act potential conference and expectations the

may sometimes believe, estimates Forward-looking upcoming, such of the terminology and may, similar these anticipate, be negative will, words statements plan, or expect, identified with terms. as

presentation, of Forward-looking to actual and could to and to where performance information that from only variety reports control, press cause will from risks our no of Exchange statements future future uncertainties, forward-looking guarantees undertake release or we these statements. opinions as materially these revise statements refer Securities beyond and and these comprehensive factors are of actual this a statements more you with those results of obligation to our Commission, cause the the forward-looking a results to discussion find many filed in which differ which our of or light differ contemplated our forward-looking events. are Please and in new could are our promises date These reflect performance not subject of materially of statements. and

our News Events, download Conference download by earnings please telephone, first Quarter site, to Results the First visit the presentation, to on you Relations For our may presentation. and want dialed call click into and earnings down Investor quarter anyone Call who XXXX XXXX roll ir.carecloud.com;

Finally, to now our XXXX measures. a non-GAAP over press quarter turn refer results today's call may financial with reconciliation our I'll call, CEO, Chaudhry. on Hadi And certain to performance refer announcing the first of Please GAAP for release to today's that measures financial results. to our we said, Hadi? these non-GAAP

Hadi Chaudhry

our Welcome, us quarter Kim. Thank and to review earnings joining today you, for thank first you call.

$X.X coming was financial highlights. Adjusted record First, to for a review of million increase million is full the expectations March $XX.X Revenue year represented first in or ahead first quarter was share. $X.X outlook. of EBITDA Adjusted we initial of million year-over-year. towards net presented XXXX that income our of XX% per we our offered and $X.XX when quarter the guidance in an slightly tracking had

X care, discuss off, characteristics number are call supplier number and forging today, recently I technology more space white successful specifically launched of of health themes us I'm care new products going health clinic administrators our via number and discuss as markets; the for new solution want our that our and beyond to is allowing of gives number three, initiative. one, to control home management streamline health continue a I as the the our of penetration; chronic to solution helps and sales both leading innovation, and and an home. Remote home targeted referral two, better advance product of management the health services, with management, providers. operational mobile force few clinicians patients. market CareCloud Uber-like cross-sell to On to and clinicians footprint last and mission CareCloud us four, adjacent Wellness. success for start care and To solutions, scheduling health the solution staff the groups further to Remote CareCloud Launched management pipeline; CareCloud's our we case improve the extends the assignment partnering month, our highlight digital branded The of visibility gives becoming solution would Namely, clinician to to practice mile The like over last location some metrics. key

care coding target and management. use the with disciplined chronically patients. provider suited. CareCloud to communication address and that recently a level larger care has launched is great coordinate Wellness a for management require multiple practice. our this the management, extends a CMS, regular managers Wellness patients around supporting ill We Medicare software-enabled to complexities Services, through high-risk increased from for providers believe of primary the provider offering patients. with its is has their no At this ill chronically needs program scale, to the service. that approach of by to partnership service care care the care the The care incentivizing management their referral patients conditions. chronic there chronic of and revenue for dedicated is CareCloud consider care inclusive of to medication plans and Our Through was is generation investment Chronic market to of practitioners nutrition, to chronic approach in and ideally appeal the Care upfront cycle to which coordination Remote in a credentialing, managers. of receive improve Wellness, providers CareCloud work effectively Medicaid and team and holistic core as their providers, treatment lifestyle enrolled care for solution the connectivity Care treatment reimbursement with Center

review. can of their use services, e-prescribing providers chart drive through to and the including revenue fact, practice In

of represents both expressed represents remote approach Our already customers our a approximately expect to generate Wellness that Wellness, customers We we launch. the of since in in interest Wellness eligible just our in long the We term. and dollars millions week using target practices XX+ thoughtful cutting-edge that first that are innovation potential believe to market the our from of have have pleased XX% half come solution. CareCloud. the incredibly clients that believe if revenue have I'm the the of core use to

Next, touch partnership. I our would on Force like to briefly

As initiative a discussed past, them. to the have beneficial the powerful of potential in program, is of striking CareCloud mutually example instead acquiring we Force relating our with partners agreements

Force example, we performing our capabilities. leveraging X off demonstrate. of and this a we national still results as As years of scope has This result quality tasks, cycle have large provider Since and the and onshore program only their X back-office workforce amount started ago, EHR of but time with and launching services, series the both offshore has revenue size a are working augmenting of a increased relationship and small contributes in potential. a able been and to enormous small at revenue

increased As potential pipeline basis growth, on our consistent a or additional will of we are here, X-pronged explain would be and as either acquire organic our our with force markets. just to has shortly, evaluate an that partner, exponentially, ongoing business have to the core scratching I with continue Force partnerships the new strategic surface strategy we fit

our medSR creating initially RCM would a a from behavioral example to that last As services consulting of you cross-sell capabilities acquired and like to EMR since to we medSR management our old multi-location are success system. system was health work the technology doing One cross-sell didn't work meaningful the in for year, contracted the implementation. to accounts know, provide hire new while down remaining the is They legacy I consulting us Mid-Atlantic. part in project augment services. share to for in acquiring and our we opportunities medSR receivables

there, full their Given client outsourcing results our system. us hired the for entire of billing

multiple engagement, So X-month RCM a as into what XXX% services. assignment started evolved consulting services leveraging

of results cover talking with our more early the look future of are like about and The the to would final sales pleased pipeline. is to topic medSR We successes. I forward health

our experience As internal call, like needle have we are customers. earnings to name that our and acquisition to on improve check-in the and last just present. move the platforms that increase solutions few. in can opportunity telemedicine XX% development growth and our process to fourth we and excited spend in intend the we XX% many a which tools we sales to Things our execute about for that automated both stated through discussed We portfolio, the amassed patient quarter support marketing by quarter to

for is quarter, incremental As first nearly such, our million that report $XX levels. the in that pipeline is our up to XX% level of and pleased exceeding pre-pandemic I'm sales year-over-year to interest products

to pipeline providers the from releases. more in XX% increase towards component and as by million quarter our the we pipeline latest and was it at deals. XXXX. in XX% quarter that pipeline Taking our enterprise which increasing a dynamics more pipeline have million of to positive in of this look, define well, declined quarter. was and pleased XX% XX% an QX the largest pipeline approximately XXXX end. meaningfully A increase the into Force. January Full-service QX and more of quarter by year-over-year, the Our composition QX pipeline through the as is deliberate XXX%. technology-enabled reveals in not the accounts, XX% stood X:X shift we March, product quarter about increased XX% second define million represents larger providers And of progressed. Namely, closer color up $XX.X pivot XXXX group, represented year-ago accentuated remain in our the of a accelerated only granular as in that these improvement pipeline little as the XX we $X.X $XX look the by or a total creation as quarter. which of at of This I'm solutions small to followed of increase, around Conversely, in enterprise new

a We tracking optimism our the report emerging X% to strong in Force the this growth represented that first read-through new that achieving quarter our we pleased various year representing is to do regarding released and realized from the for efficiency to opportunities. accelerated in by to year-ago of XX% that quarter, deals increase just is and a customers. there is organic fivefold pipeline to increase early start our growth probability-weighted market solutions exceeding stages work X both positive set and outlook and bring year-over-year. health in EBITDA. improve just my we the completion. targets to that have are degree digital solid of to and expectations revenue pipeline full in drive a opportunities high We and our these to given practice But the XXXX a the of toward activity confidence revenue the exponential revenue conclude quarter, our prepared reception year deal remarks, To and getting

cross-sell of success. ramping sales improvement the efforts up marketing in by Our our and evident demonstrated planned, and pipeline are as nearly

front, On over At continue I acquisition a to will both potential acquisitions. posted and the turn time, our call on at small Bill? pipeline quarter first this execute to our against look the of the large you we We for progress to closer results. Bill a look forward robust year. keeping throughout

Bill Korn

today the first results meeting our I'm of outlook. thank first call is XXXX the quarter that results financial for interest and our off today's and story. demonstrate quarter call, On Thank our the everyone, you, market great to are a and that joining Hadi. the for going we today. you, start our set review solution your reiterate believe And XXXX for I in to CareCloud needs

from management XX% of business more Taking suite revenue of electronic a intelligence first or the our technology X from using are of compared using million, practice revenue records which and XX% consisted technology-enabled we closer providing XX% solutions our from from XX% services, processes know-how. increased a represented ago. of XX% solutions, and components total health utilizing our $XX.X of clients technology clients our to or and core our we For where quarter, revenue year technology software like clients look, generated IT

Our remaining X% managing from X% services. X% derived just and services, other revenue cycle from clients revenue several practices is from other the from clients' management using medical entire

expenses. purchased a from medSR, in can increasing in record their us growth more quarter themselves found larger business favorably driven breakouts company by during XX-Q. of million, $X our mid-XXXX additional compared a despite we a strong signed for and presence income be All QX. $X.X hospital give QX in revenue to in very million space. the these results net GAAP was growth Revenue the sales revenue to net in medSR revenue of achieved they $XXX,XXX recognized, marketing positioning loss of than increase year, and backlog last during and the the

million We to Non-GAAP have least income a of X per represented year. at $X.X million $X.X a of Adjusted last million income net increased was GAAP million, row. Adjusted in EBITDA adjusted now income XX% share. reported compared $X $X.XX $X.X quarters net increase. XX% for of net year-over-year

growth percent and Our revenue driven adjusted expenses revenue. increasing our was a of primarily EBITDA reduced as by

EBITDA margin marketing R&D to point of expenses result ago. adjusted XX.X% as G&A and sales, a Our of compared year-over-year increased improvement basis by our XXX was year a as increase sales. offset our to and decrease a percent small of a sales a a percent XX.X% in in

of Now million. the sheet balance working cash first operations We quarter million on including turning and million the generated flow. We flow the with and restricted million credit. cash $X.X our ended cash cash, of $XX.X $X to in during SVB line and quarter $X.X in capital drawn from net

guidance, reiterating in Finally, at we year. point are outlook our for this the

$XXX which a of to adjusted and to EBITDA $XX XX% be revenue adjusted be represents $XXX EBITDA between and to million, million, an midpoint of the the million expect margin XX.X% continue $XX midpoint. at We in reflecting million to at growth range

During issued million Stock of X.XX%. coupon the Series for B quarter, $XX.X Preferred and XX% $XX swapping of A, we Series an million redeemed

to in the so goal cost you redemptions can expect A Our Stock of continue to of see future. lowering Series is Preferred further our capital,

anytime Series going redeemable A preferred share at Our is per $XX forward.

goals. We full continue with me wrap we Series keen dilution eye existing to a shareholders. minimizing our approaches give first our to up, quarter confidence retiring achieve to creative strong our results To good our on evaluate that will year common A

for foundation growth. that, above-market With growth Additionally, over of the remarks. we to closing our the his on all setting for I'll Mahmud turn sustainable are call initiatives, making progress

Mahmud Haq

Thank like associates trust, year. of to support I and a strong shareholders, our is us such our their our that setting and for I for you, thank year thrilled Bill. mission. am start, off all to CareCloud's another customers, great would loyalty up

the now will to open Operator? call We questions.

Operator

[Operator Instructions].

Thalmann. line the Jeffrey Cohen from comes of with question first The Ladenburg

Jeffrey Cohen

So a few questions our end. from

any Firstly, commercial throughout efficiencies domestically potentially seeing team the could now and here you you're year? the size of and of balance talk about there the that the

Hadi Chaudhry

closing the and Thank our focusing call pipeline, on marketing far continuously last quarter team the in we of and you. that not only Jeff, can on -- the as as been keep we from improving even sales the but we as of seeing on success last the on increase mentioned and have couple our deal. the also

side. the uptick. and on number addition have that the see senior There been is as in terms XX those, do thing have see, the demand currently in which U.S. resources. we significantly X-or-so started of the we we roughly do on pipeline. because that STRs on side, to we So about the we the on and to And the improve for now is another position And about right on U.S. side, the XX helping generation are marketing probably sales has digital offshore hiring

Jeffrey Cohen

talk some that from Okay. the about program? And estimates revenues forward? CareCloud That's Force the the predictability going those and could anticipate the talk And about of you drivers Got your it. helpful. from that you Force growth and of funnel

Hadi Chaudhry

Sure.

have this over to then the detail. Let about call -- off generate. see opportunities, it to and we it last increase, as is mentioned Force, and the fivefold he that pipeline I -- the if do year start bit it compared significant able talk me we a during which about comes we can our hand from the been look And in that -- I'll the more Karl, perspective, at when our little just pipeline to the to a the

possible deal has anticipated the of have booking are introducing we the final terms opportunity our proportionately to quarter but the Force I'd some and materialized, increased In of the over addition the we at of side. In to like percent those that, the large other also that, working are for the With on yet first stages of almost the none process. decision Karl. on with it decision-making turn in

Karl Johnson

to then, concept are really other we make health they to providing a for Force targets us, provide and services records but a practices. especially margins. excellent could Good something healthier and of fit morning, the initial earlier, we've and evolved us Hadi businesses solution good moving everyone. and could physician electronic interesting, become Yes, was to larger staff potential M&A augmentation provide them offer certain mentioned their weren't into that as yet hospitals groups that for Since companies where

So a that's seen where we've big shift.

a I either moving we facilities services ongoing flow helpful. that's into think to have providing basis with consulting close then back-end into on I hope team. services, as And and basis. the and Force of that, that seen support very medSR on for frequently been has they're top a of working a relationship natural an project with on

Jeffrey Cohen

And years? a commentary top sequential for on if like end. you the then the prior and line Bill, pace correct cadence in years? QX lastly, and that Yes. QX for in softer looks could from we read anticipated you Are assuming our as out quarter-over-quarter provide QX and your of any it sequential

Bill Korn

Yes. Thanks, Jeff.

correct. you're yes, So

everybody knows, they most As doctor the we percent QX, a the revenue of you did see goes I'm sequentially. is the know, people down through doctors, what deductibles. period collects, sure in have always go as and a industry when but the And revenue of our

So in really level had see by just by of cadence. way, the visits. And last what been would difference QX, seen have the year before, following XXXX, major and and and you normal say visits some seeing a with QX Starting from now, is years. previous there normal impacts the not COVID. you'll that 'XX we're year I'd between

shots. It especially always with find sort that our schedule They So cadence. their New a is when can see will Christmas activity. more be between our will people you of peak. you'll little the visits, with and so getting peak, QX, flu normal seasonal QX internists don't back-to-school in means seasonal And -- visits be of week they people avoid lots it. Year's. then QX

week year see would you expect that to in So sort I in and less get of X as well. the XXXX

Operator

question the line next Allen comes from Maxim Klee Group. The of with

Allen Klee

talk in interest And why what's product is? competitively? getting about how you terms Could of this for little Wellness CareCloud a the you feedback you're the kind you've of more of you're in beginning, positioning a that had mentioned lot

Hadi Chaudhry

we Chronic the great the and at the all and One Allen, we if understand a back for the I looking it Thanks to go you thing, started think question. question. way Care management the history, over just restricted in it years. I next time think around very was frame and XXXX one get launched of and the initiatives, to of CMS, couple the matured

the rate procedures. that's year, focus just This backdrop. CMS upcoming the this the chronic towards care reimbursement of by even the XX% management has shifting So year, roughly about digitization the some more in in increased

technology unique our So was of who core are using today. using the already equation this XX% components -- core -- they are is about for situation talk the one the each so the base and number client our of clients, that technology that whole clients between if the clients over one components, using our -- in we and part the are of

those take all point. be current sign okay, what over expenses So operational the a need those clients, from will not off they increased. it -- will for a and yes, is, we saying, to and check button that contract, do is Their

checking plan. chronic be Then telehealth and And back or which be will our and technology eligible the help patients And at be procedure management to documentation, to be the the management our to of the create communication the takes appropriate procedures. who the in make place. required who outreach using can done it and that submits paid them be providers again, the claim done telehealth in the example, then providing care technology the claim team. of needed, tracks by, chronic sure who our has an And gets with the then these for care the will the eligibility documentation the We level. plays will people care all for be managers helping will the

thing in So this of an combination one the uniqueness I think and our technology services. the is integrated

charts, have just offer tracking it claim to a of if when company plans the documentation services, care rely someone So submission, the and is care technology company management all rates, at typical on else's management that. the who chronic they reimbursement the to comes a right still correct

believe we how that's unique is X element. our So

to us launched we this we're product hardly about Now to chance, back, worry and saying, expenses. going your it's when you gave client discount the additional don't X weeks just about enough just a have back basically

for Your certain you current we charge will increase, expenses fee it. not will we then additional revenue generate and of out a

is clients. risk-free literally our this a model So existing for

are As component back chronic services. for existing client at our about our core today care looked XX% eligible entire components, core of one we technology step using is or base base, our and of client the management we technology this

successfully sell able dollars So additional to even in let's us that will if of client couple we, to this eligible add even million that potential say, the annualized are a base, XX% for revenue. of recurring

So -- how about so this are is excited we it.

Allen Klee

we And Page was from back was quarter? revenue medSR's can for just then looking just I what the great. at I'm presentation. XX into your That's that, of curious investor

Bill Korn

that not medSR get sure not there. that the directly can sure -- from revenue you I'm I'm

that had quarter I you'll QX. think the strong But see will at some in look in footnotes the a more details. it when great you medSR give you XX-Q,

sort of was be QX terms plan in and pretty first it a QX. as of -- similar will look what at and can You in it QX,

Operator

question from comes of Riley. Marc B. with the The Wiesenberger next line

Marc Wiesenberger

strong technology in a growth, coming of would it, solution last like pretty looks deck. driven Just into maybe regarding of million remaining it that we was of XX% sales, following kind the but up on professional the and decline If million kind $X.X is IT slide $XX be about back in question that services Page XX and that year-over-year. the from actually XX% that's

if year-over-year to driving then could medSR those decline? was potential to regards technology and the talk dynamics Bill, you with really So what

Bill Korn

so and of you numbers. So the haven't got final in medSR Q terms you got haven't the recognize all

exactly there. the taking you but doesn't it percentages, say get I'd you gets So close,

from a In clients. terms medSR, good response been of there's

public lot part means CareCloud, fact a of working now and us. a of with in the I company got we've of large and they're that think are capabilities the clients they're part interested that

that business out is third that very well. deal that they've growing and would say I the part us quarter been of is So has full it's worked really -- nicely. This that,

the I there's I'd was last say it In major say read year. decreases, of is into flat wouldn't terms increases, I business, that roughly where remaining it core too much that. from wouldn't

Marc Wiesenberger

it. Got

Okay. their based results XQ your impact remainder on year, for does ability And on of hit any your I guess and to thoughts medSR's expectations maybe that the the of the earn-outs?

Bill Korn

Well, adjustment how becomes a it's pay there terms a they'll quarter, basis, statement an more expense, up with if quarterly out we'll say income either credit GAAP if we and pay little showing to the going each think a always originally hard less. what than pay you wind Thornton, know on you're bit think we or a anticipated small to as required although out to of reestimate and our I'd by in auditors, earn-out the Grant earn-outs, is we'll by the

most criteria So that designed say a revenue, pretty strong, revenue in profitability. to number require things strict the I'd were earn-out of addition was we hitting really importantly, the and

selling and it cash to negotiating the up keeping the So not, strike in the recently business don't still a enthusiastic as is be have about order big know the or of and expectations. -- earn-out there payout isn't, we say don't really nicely good turns if payout exceeding terms bank. out there'll And doing job whether get I or to if we the that anticipated, I'd is a our in whether people doing

done job terms we've a structuring think that. I in So of good

Marc Wiesenberger

some Appreciate Very helpful. that all nice to system more university And see color. wins.

of University to And And you're think been the led prior seventh. was relative UNMC morning put area I'm this the an of across how you wondering traction was the why in the broader of has in I adoption out oral your space. pathology getting maybe RCM Tennessee health pathology wins oral one -- sixth any to others? win with maybe CareCloud systems? the platform the those then

Hadi Chaudhry

for question. Marc, you, the Thank

and we pieces. proof reason been perform the RCM with one of to of have think our simply well able technology our that services the I technology-enabled really combination is some

course, add the automatically one. we win really the the for and can the Of client, the first difficult for to and the referral is a prove profitability value that it every the more if the And revenue next improve one. we time becomes client

you release an week, seems literally to to started attention another towards started other and the go us with and of specially need closing at, whole close reviewed a actually to to attraction us which So same to space. morning, also able And the a literally we have this we looked of competitors. already see from this are the these to or the And must compared numbers out prior next the of earlier then that in that are the press and services, yet this evaluated ones, have once -- products questions space. RFP earlier a the referrals within possible results we number some especially through after we us we tested list this have single give CareCloud But then and with went have working every of lot not. they from you with area process, of the and clients opportunity. Again, if in

Marc Wiesenberger

pricing? regards And about revenue it. are just we Appreciate or incremental then Remote, me. current a X final Helpful. And offerings of kind forward? with Wellness to for should they bundled generating going With how those are the CareCloud and these think

Hadi Chaudhry

nurses think it, this to existing going pricing services, maybe are in you or any will case, So because for to be additional Wellness, client. order top expenses these CareCloud providers, it for need if perform about the when additional on we managers, to there not of and different care the nurse in practitioners. comes And

additional at RCM higher the a that of expense rate versus expenses like. all more or services a a staffing, higher and course, So regular needs

-- does fee expense the So they will the this will they come it to that tied revenue be to receive. will the additional get. But again, the on with additional collection to additional revenue

the it for separately we services, example, come typically rest products expense paying can I'm won't because any be there package, on terms we X based separately expense. cases, -- could package how of -- can might the the credentialing services, that fine the we the want When using say, It okay, more or a comes for their more in be priced, Remote, the similar price X% we'll will to the extensive that cases, entire we but additional that's on it the their of -- we part can in -- as example, X%, be so X% existing fee setup. books, is clients our the of packaged all X or sell to extensively. the it in client be for that are whatever services and be overall be the of this separately the the rest So the app -- additional some for app, not to either or be agreed-upon some Remote using

So let's with separate up come pricing. a

with -- sell So separate just just additional the rest regular pricing Wellness services. to we off part the of come way the of a the and summarize, Remote RCM of out over the is revenue technology-enabled a

Marc Wiesenberger

Got on it. a Congrats it. Appreciate good quarter.

Operator

Partners. Capital from of comes ROTH question next Richard The Baldry line Instructions]. the with [Operator

Richard Baldry

pressures a market has -- the market road you've in Or people M&A more on to the impact or out willingness out maybe the or are in curious maybe pipeline to people what tech recently, Given I'm if stalled better put the waiting down this pipeline. into or the for? volatility seen the looking there's any sector it anyone's transact

about Just part in discussion business? that that your of you're changes seeing any

Bill Korn

question, Rich. Good

a were potentially for M&A. would have pipeline, say We continue as public, have I'd that time, that potential strong have to the to the standards. opportunities we same might companies ever. I -- probably deals we really portfolio with stronger we before and do than since have But we deals, the -- we at continue of say great is we high of pipeline

And so always this to just I'll at have about, people and we're another to stay that we but tuned. talking acquisition point, don't talk say

Richard Baldry

have the of filling front argue all? of that sort any given end you of You of seen pipeline lengthening deeper for of maybe are changes, the the pipeline. into Can in the talked markets of quickly the funnel, at funnel makeup looking either sales the about or Or of sort the about sales late. of cycles durations would the into the win talk you front any front changes pretty rates growing

the So we in will impact we growth your gauge ongoing that can increase think of how rate? kind front

Hadi Chaudhry

for Rich, the Thanks, question.

is factor the X mentioned, wins. a was we smaller is transition, pipeline which the enterprise the So versus see a deliberate which that what higher percent we towards

to So an so practices deals disadvantage live, the than then a take short-term close temporary that enterprise typically go and and to some comes little compared the because small to even with come advantage are closing -- the longer are typically a The -- then shorter, also they more the go and where are but shorter. higher there's -- the are deals, They margin. with sticky. cycles lives complete enterprise they high

have slightly be ramped opportunities a see we will much to might all of a And I then X terms be another deal when be on will be is, But of between what combination longer. they the months. cycle, X in up, come. closing average, and X months the completely to So yes, an absolutely closing and time we And in better that, running, about up little enterprise up quarters goes growth could higher. the everything completely in about by the cycles the talk if and somewhere the it's ramped months, fully seen

midsize, terms fully and live X terms XX goes then to XX or of small it on to the practice of in between ones easily smaller could days between X side. revenue be in ramped when and up the cycle to months closing the For the

Richard Baldry

been R&D premiums. a of will process pace what about for the good And to sort then run be both a be? oscillating The seem two trading preferred, we Could the would talk rate has line exchange at bit what lately. quicker And ones.

So it series, like seems new good. demand and the for is demand

So quickly what is And you you'll determiner how run through do that real behind the that? process? think

Bill Korn

questions. good Two

are what So if actually then the not flow that I'd And of capitalized, hits things products, the you that production in is that expenditure R&D, that we're then is expense statement. as in product terms income is statement. cash the relates recognize the it and in the say yet new see developing right to that's in now, -- production,

it I'd Not many that as adding said but will got having go bit as not over dollars be we've constant, treatment although production. sort as a roughly the decline little again, as constant quarter-over-quarter. say I be we things into same. total Grant expect There's dollars will we roughly may been lot, to the Thornton it when timing have maybe year, we with that a But an the new of the well would a team. So of discussed accounting total about strong things be people. get completed,

of last income of So that's bit The growth amount the that slowing there. statement, were some hits may a see there a year, we little fluctuations. the

where and I can right run for of of in you as the see sort the year. rate think the being think were we about that rest QX

of and -- the that say, B $XX is is the Series the that I'd plan will $XX it believe of Series us, close us. million to are A, A figure an for which $XX sold pay we question Series We've because initially redemption People Series is stock out to interesting it, at why life be the redeemed to share. that and A redeem Preferred at I A can't at we a more Now share. don't for they $XX and a we willing that share. $XX said guess We've a

ago that. that rational sell know right have ways we did a Series reason probably we to B. -- is capital and gee, and So to as few coupon sell the other months probably could they these going not starting at raise prices there you're about we potentially a But they're only we say, lower common

we're bit Series you'll think the people to going bit by of give But So we redemption. redeem A. happening any remainder the about as as rest when guidance see assured to that I that can't

criteria how shareholders. we first our be common to accretive really Our is do

going not market the Series reduce do outstanding money do is in at frankly, very A to way going this going because way X.XX%. So of to amount we're we this are costs to adds that a but us risk the We're deliberately that's in us more. a that not happy to give

as our A. probably there's paying keep XX% on reason the we no Series So to have

Richard Baldry

And some sort seem then it a in broad have like competitive Is would of size? announcement, doesn't that's that on there. you momentum Tennessee, touched something segment. in on It win? that Just there's university last base but today's be some was it, the meaningful you've

Hadi Chaudhry

a the clients a revenue the I win. this of another one that say few the these are for the recurring these it's into it's when would annualized would thousand question. in win the getting because just consecutive on the Great or the And we to continuous it's of -- it's ARR competitive hundred on revenue is dollars. it respective -- not Yes, and first more basis, But talk revenue. comes But then say it's just pathology space. oral list basis the typically, universities, absolutely about we do because I momentum

Operator

the Benchmark. The with next question of comes Sutherland line Bill from

William Sutherland

whatever to My some about questions you last thinking, with think suite have those? additional largely the conductor traction because you're those modules were of be going time Maybe there and where been the on was answered. product I stand Hadi, seeing of introductions update I talking were about some primarily. that us

Hadi Chaudhry

Thank you, the for Bill, question.

quarter, doing anticipating will are quarters. announcement, we'll get an towards close track least more And other we the be to the next as we that, something. we we terms In make products to on the but suite, are launching Each of -- of course, over at adding plans. yes, those

-- the part inherent the pipeline limitation deal sell, that more they X again, do the and all look time needs their unfortunate -- to part, team to integration how of this our initial which to is understand parties. kind mature the to is unfortunate the They make at it's understand of both documents the need shouldn't of sure specification terms not the to I say to need and that. an traction, because, the In the again, --

on making are in are keep opportunities as adding do will it. for the And products win yet, in progress we the of suite. the part more conductor And optimistic the will a queue will we in but have pipeline. we and not win. still the are We we track we of are terms have whenever So on that we share next

William Sutherland

Okay. That's all got. I've

Operator

to And turn and gentlemen, Ladies you. the like call question-and-answer for back Blanche have would I remarks. reached the to session. Thank Kim end we of closing

Kimberly Blanche

us who's company. your appreciate a and and speaking joined you with Thank to you next look participation quarter. Thank today. us We you in to great day. We again have forward all, as everyone a your interest

Operator

Thank you. This concludes today's conference.

Thank time. at You lines participation. your this may disconnect for you your

CareCloud (CCLD) 9 May 222022 Q1 Earnings call transcript