CareCloud, Inc.
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Yellow, because the business fundamentally works but several material operating questions are open. In the company's favor sits something solid: $28.6 million of operating cash flow in 2025 and $10.7 million in the first half of 2026, interest coverage of roughly 3.3 times, no going concern qualification, no customer concentration and five acquisitions paid for out of the operating business. Against a green rating stand four findings, all of them from the mandatory filings. On a comparable pro forma basis revenue fell 11.4 percent in the second quarter of 2026 and 12.9 percent for the half year — the growth is bought. Equity dropped 70.8 percent in six months to $17.4 million and is negative excluding goodwill and intangibles, while debt went from $1.2 million to $49.0 million. The reaffirmed guidance requires adjusted EBITDA 56 to 74 percent higher in the second half than in the first. And the central promise about the future has remained unquantified for ten quarters. A red rating, on the other hand, lacks the substance findings: equity is positive, operating cash flow is positive, there is no auditor exception and no listing risk for financial reasons. That the stock looks optically cheap at roughly 0.9 times revenue is a price argument, not a quality argument, and does not change the rating. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
CareCloud is a billing and software company for U.S. healthcare with genuine cash generation ($28.6 million of operating cash flow in 2025) and a demonstrated turnaround. At the same time its reported growth comes from acquisitions — on a comparable pro forma basis revenue fell 11.4 percent in the second quarter of 2026 — equity dropped from $59.5 million to $17.4 million in six months, and the AI story it has told for ten quarters carries no number in any filing. Its own guidance requires a second half markedly stronger than the first. Not investment advice.
Cash generation and turnaround
Roughly $25 million of recurring costs removed turned into adjusted EBITDA of $15.4 million (2023), $24.1 million (2024) and $27.5 million (2025) while revenue was at times falling; operating cash flow rose to $28.6 million. In 2025 the company reported positive annual earnings per share for the first time since its 2014 IPO ($0.10).
Quality of growth
The reported 16.4 percent gain in the second quarter of 2026 came from acquisitions. The pro forma table in the same filing shows $32.4 million against $36.5 million on a comparable basis — down 11.4 percent for the quarter and 12.9 percent for the half year. In 2025 as well, revenue excluding the Medsphere contribution computes to below the prior year.
Balance sheet after the restructuring
Equity fell from $59.5 million to $17.4 million within six months, and to negative $29.4 million on a tangible basis. Debt went from $1.2 million on December 31, 2025 to $49.0 million on June 30, 2026, with the facility roughly 96 percent utilized. The roughly $3.3 million of annual preferred dividends saved is matched by a comparable annualized interest bill — except interest cannot be suspended.
An AI story without figures
Across ten earnings calls from May 14, 2024 to August 6, 2026 the company never disclosed AI revenue, a paying customer count or a share of total revenue; the target of 500 AI professionals by the end of 2025 stalled at the highest level ever cited, 100 full-time hires plus 100 interns, and was later recast as an efficiency message.
Owner proximity and governance
On July 22, 2026 the executive chairman pledged 4.3 million private shares for the company facility and received a warrant on 4.3 million new shares at $5.00 — roughly 10 percent of shares outstanding. At the same time roughly $1.5 million across two half years went into upgrade costs for facilities the company leases from him, as disclosed in the related party transactions note of the Form 10-Q filed August 6, 2026. All disclosed, but worth watching.
Guidance delivery for 2026
Meeting the reaffirmed guidance requires adjusted EBITDA of $17.7 million to $19.7 million in the second half of 2026 (after $11.3 million in the first) and essentially the entire full-year $0.20 to $0.23 of earnings per share. Management itself calls the plan "important but demanding" — the candor is a plus, the gap remains.
Worth Noting
Trigger for this analysis: the Form 10-Q for the quarter ended June 30, 2026, filed August 6, 2026, together with the earnings release (Form 8-K, exhibit 99.1) of the same day. Also reviewed: ten complete quarterly earnings call transcripts from May 14, 2024 to August 6, 2026.
Data basis: annual figures from the Forms 10-K for 2025, 2023, 2021 and 2020; quarterly figures from the Form 10-Q for the period ended June 30, 2026. The share count (42,493,859) comes from that filing's cover page as of July 30, 2026. Price, market capitalization and valuation figures are as of August 26 to 27, 2026.
Not to be confused: the company was named Medical Transcription Billing, Corp. until 2019 and MTBC, Inc. until March 29, 2021 — older sources under those names refer to the same entity (SEC identifier 0001582982). The listings removed in 2025 and 2026, CCLDP and CCLDO, covered only the preferred stock; the CCLD common stock remains listed on Nasdaq.
Stock Watch
This analysis is as of August 28, 2026. Stock Watch will tell you what's changed at CCLD since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 2.00 $ to 3.80 $ · Last price: 2.20 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Health Information Services
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| CareCloud, Inc. CCLD | 0.1 | 16.8 | 4.8 | 46.5 | – | 8.7 | -33.7 |
| Veeva Systems Inc Class A VEEV | 41.1 | 44.0 | 33.4 | 75.0 | 30.9 | 16.3 | -3.9 |
| Tempus AI, Inc. TEM | 14.2 | – | 0.0 | 64.0 | -24.3 | 83.4 | -7.0 |
| BrightSpring Health Services, Inc. BTSG | 11.2 | 73.3 | 22.6 | 12.4 | 3.4 | 14.6 | 106.6 |
| 10X Genomics Inc TXG | 10.1 | – | 148.5 | 70.1 | -11.3 | 5.3 | 498.5 |
| HealthEquity Inc HQY | 7.9 | 39.6 | 16.8 | 71.3 | 29.3 | 9.5 | 2.4 |
| Hinge Health, Inc. HNGE | 7.6 | 11.9 | 71.9 | 84.5 | 19.0 | 50.6 | 59.2 |
| Doximity Inc DOCS | 4.8 | – | 18.7 | 88.1 | 21.6 | 13.1 | -63.4 |
| Waystar Holding Corp. WAY | 4.8 | – | 14.8 | 69.1 | 25.6 | 16.5 | -31.3 |
| Median of companies shown | 7.9 | 39.6 | 18.7 | 70.1 | 20.3 | 14.6 | -3.9 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 24 | -8 | -9 | -0.88 | -1 | 7 | 28 |
| 2017 | 32 | -5 | -6 | -0.51 | 0 | 20 | 26 |
| 2018 | 51 | -3 | -2 | -0.18 | 7 | 39 | 48 |
| 2019 | 64 | 0 | -1 | -0.07 | 8 | 43 | 56 |
| 2020 | 105 | -8 | -9 | -0.70 | -1 | 101 | 138 |
| 2021 | 140 | 4 | 3 | 0.20 | 13 | 98 | 141 |
| 2022 | 139 | 7 | 5 | 0.36 | 21 | 102 | 136 |
| 2023 | 117 | -47 | -49 | -3.11 | 15 | 42 | 78 |
| 2024 | 111 | 9 | 8 | 0.49 | 21 | 50 | 72 |
| 2025 | 121 | 12 | 11 | 0.25 | 29 | 60 | 88 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.08 | – | 28 | -0.60 | 11.70 | 5 | 4 |
| 2025: Q1 | -0.04 | – | 28 | 6.40 | 7.00 | 5 | 4 |
| 2025: Q2 | 0.07 | 73.40 | 27 | -2.50 | 10.60 | 7 | 6 |
| 2025: Q3 | 0.07 | -2.00 | 31 | 8.80 | 9.80 | 7 | 7 |
| 2025: Q4 | 0.07 | -12.40 | 34 | 21.90 | 8.40 | 9 | 11 |
| 2026: Q1 | 0.02 | 150.00 | 31 | 13.20 | 2.90 | 4 | 2 |
| 2026: Q2 | 0.00 | -100.00 | 32 | 16.40 | 3.40 | 7 | 7 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 4 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.37 | 0.33 – 0.40 | 130 | 7.8% | 3 |
| 12/31/2027 | 0.30 | 0.25 – 0.36 | 141 | 16.4% | 3 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly -19.2% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $27.6M |
|---|---|
| Market cap | $90.0M |
| Free cash flow in year ten | $3.3M |
| Terminal value as a share of market value | 19.1% |
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
CareCloud verkauft eigene generative KI-Produkte an Arztpraxen und Kliniken — die cirrusAI-Suite (Appeals, Guide, Notes) und den agentischen Telefon-Assistenten stratusAI Desk Agent — als Teil seines Healthcare-IT-Angebots.
View the full file — quotes, sources, reviewed filings
„CareCloud, Inc., (together with its consolidated subsidiaries, “CareCloud,” the “Company,” “we,” “us” and/or “our”) is a leading provider of technology-enabled services and generative AI solutions that redefine the healthcare revenue cycle management process."
CareCloud, Inc. (zusammen mit den konsolidierten Tochtergesellschaften „CareCloud“, die „Gesellschaft“, „wir“, „uns“ und/oder „unser“) ist ein führender Anbieter technologiegestützter Dienstleistungen und generativer KI-Lösungen, die den Abrechnungsprozess im Gesundheitswesen neu definieren.
10-K · 2026-03-12 · View SEC filing
„CareCloud cirrusAI is designed to serve as a digital healthcare assistant, helping to enhance clinical decision-making, streamline workflows, reduce administrative burdens, optimize revenue management, and promote patient-centered care."
CareCloud cirrusAI ist als digitaler Gesundheitsassistent konzipiert, der hilft, klinische Entscheidungen zu verbessern, Arbeitsabläufe zu verschlanken, Verwaltungslasten zu senken, das Erlösmanagement zu optimieren und eine patientenzentrierte Versorgung zu fördern.
10-K · 2026-03-12 · View SEC filing
„CareCloud stratusAI Desk Agent is an agentic AI phone receptionist designed to modernize and automate patient phone interactions."
CareCloud stratusAI Desk Agent ist eine agentische KI-Telefonrezeption, die Patiententelefonate modernisieren und automatisieren soll.
10-Q · 2026-08-06 · View SEC filing
Filings Reviewed: 10-K 2026-03-12 · 10-Q 2026-08-06 · 10-Q 2026-05-07 · 8-K 2026-04-14
Rated on August 28, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -4.6%
- More than 10% revenue growth is expected for the coming year 7.6%
- Share count grows by less than 3% a year 41.1%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 25.8%
- Gross margin at 40% or higher and without meaningful erosion 46.5%
- Goodwill from acquisitions does not grow faster than revenue 35.9%
- Net debt below twice EBITDA 0.0 x EBITDA
- Operating cash flow covers the profits of the last three years 95 m
- Return on capital at 15% or higher, or up versus two years ago 18.2%
- Insiders hold at least 10% or are net buyers 15.1%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
7/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 19.4%
- Exp. sales growth 3Y > 5% 8.2%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 9.2%
- Net debt < 4x EBIT 0.1x
- EBIT positive, 10Y straight 4
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 118.7%
- ROCE > 15% 18.2%
- Expected return > 10% 34.1%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 8, 2026 | Busquet Anne | Director | Other | 7,500 | 0.00 | – |
| Aug 8, 2026 | Korn Bill | Director | Other | 7,500 | 0.00 | – |
| Aug 8, 2026 | Munter Cameron | Director | Other | 7,500 | 0.00 | – |
| Aug 8, 2026 | Sharnak Lawrence Steven | Director | Other | 7,500 | 0.00 | – |
| Jul 31, 2026 | Busquet Anne | Director | Other | 6,250 | 0.00 | – |
| Jul 31, 2026 | Munter Cameron | Director | Other | 6,250 | 0.00 | – |
| Jul 31, 2026 | Korn Bill | Director | Other | 6,250 | 0.00 | – |
| Jul 31, 2026 | Sharnak Lawrence Steven | Director | Other | 6,250 | 0.00 | – |
The company
About the Company
CareCloud, Inc., ein Unternehmen für Gesundheitsinformationstechnologie, bietet technologiegestützte Geschäftslösungen, Software-as-a-Service-Angebote und zugehörige Geschäftsdienstleistungen für Gesundheitsdienstleister und Krankenhäuser, hauptsächlich in den USA, an.
- Employees
- 3,650
- Headquarters
- Somerset, NJ
- Address
- 7 Clyde Road, 08873 Somerset, United States
- Phone
- 732 873 5133
- Website
- carecloud.com
- IPO Date
- 07/23/2014
- ISIN
- US14167R1005
Management
| Name | Title | Birth Year |
|---|---|---|
| Mahmud U. Haq | Founder & Executive Chairman | 1959 |
| Stephen A. Snyder J.D. | Chief Executive Officer | 1977 |
| Crystal Williams | President | 1983 |
| Norman S. Roth CFE | Interim CFO, Principal Accounting Officer & Corporate Controller | 1956 |
| A. Hadi Chaudhry | Chief Strategy Officer | 1977 |
| Adeel Sarwar | Chief Technology Officer | – |
| Nympha Schnoeller | Corporate Counsel & Compliance Officer | – |
| Christopher Langehaug | Senior Vice President of Sales & Revenue Growth | – |
| Brendan Covello | VP of Corporate Development & Corporate Counsel | – |
| Elizabeth Ferrer | Vice President of Human Resources | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/06/2026 CareCloud, Inc. (CCLD): Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.