TruBridge (TBRG) investor relations material

Executive summary

• Filed 10-K after identifying non-cash, non-material out-of-period adjustments related to revenue recognition, capitalized software, and non-routine transactions, reflecting improved financial controls.

• Engaged in a strategic review process to maximize shareholder value, considering options such as sale, joint venture, share repurchases, or organic investments; no formal guidance issued.

• Strong pipeline growth, with recurring deals now over 70% of opportunities and recurring revenue comprising 94% of total revenue for both the quarter and year.

• Operational improvements include global workforce transition, new leadership, offshoring strategy, and AI-driven initiatives across financial health, patient care, and customer service.

• Bookings for Q4 were $19.8 million, up from $14.3 million year-over-year; full-year bookings $82.9 million, up slightly from $82.1 million.

Financial highlights

• Q4 revenue was $87.2 million, flat with guidance; Adjusted EBITDA $19.2 million (22% margin), at high end of range, up from $17.9 million.

• Full-year revenue reached $346.8 million, up 1.4% year-over-year; Adjusted EBITDA $68.7 million (19.8% margin), up from $55.9 million.

• Q4 GAAP net loss was $5.5 million, compared to a $5.1 million loss in the prior year; full-year GAAP net income was $4.4 million versus a $20.9 million loss.

• Q4 Non-GAAP net income was $11.4 million, up from $1.1 million; full-year Non-GAAP net income was $38.5 million, up from $4.6 million.

• Cash and cash equivalents increased to $24.9 million at year-end from $12.3 million; net debt reduced to $139.8 million.

Outlook and guidance

• No formal guidance due to ongoing strategic review and difficulty forecasting certain expenses, but anticipate modest revenue growth and ~200 basis points Adjusted EBITDA margin expansion in 2026.

• Focus for 2026 includes targeted AI initiatives, technology modernization, and continued operational improvements.

• Margin expansion expected from global workforce transition, cost optimization, and improved revenue mix.