CareCloud, Inc. (MTBC) financial statements (2022 and earlier)

Company profile

Business Address 7 CLYDE ROAD
SOMERSET, NJ 08873
State of Incorp. DE
Fiscal Year End December 31
SIC 7372 - Prepackaged Software (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9,34020,92519,99414,4724,3623,4778,040
Cash and cash equivalents9,34020,92519,99414,4724,3623,4778,040
Restricted cash and investments1,000      
Receivables17,01912,1027,0097,3573,9054,3442,225
Inventory, net of allowances, customer advances and progress billings503399491444   
Inventory503399491444   
Contract with customer, asset4,7254,1052,3852,609
Other undisclosed current assets2,9727,2881,1231,191663619621
Total current assets:35,55944,81931,00226,0748,9308,43910,886
Noncurrent Assets
Operating lease, right-of-use asset6,9407,7433,526
Property, plant and equipment5,4044,9212,9081,8321,3861,5891,372
Intangible assets, net (including goodwill)91,96479,26918,61119,22814,77318,01314,351
Goodwill61,18649,29112,63412,59412,26412,1798,972
Intangible assets, net (excluding goodwill)30,77829,9785,9776,6342,5105,8345,379
Other noncurrent assets9811,24735749043728367
Total noncurrent assets:105,28993,18025,40121,55016,59619,88415,791
TOTAL ASSETS:140,848137,99956,40347,62325,52628,32426,677
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities19,14621,7939,1845,4962,3563,3441,180
Accounts payable5,9486,4613,4912,4389921,905370
Accrued liabilities5,0918,5012,1121,5896171,237650
Employee-related liabilities4,2512,5901,836    
Interest and dividends payable3,8564,2411,7461,469747203159
Deferred revenue1,0851,17320
Debt3444011,9722781692,667500
Deferred rent credit   91
Business combination, contingent consideration, liability1,000  526506535747
Deferred revenue and credits144103112
Contract with customer, liability25
Other undisclosed current liabilities7,9875,65711,7421,1489,2083,220
Total current liabilities:29,56229,02411,1788,1584,32215,8585,758
Noncurrent Liabilities
Long-term debt and lease obligation, including:8,3644423672221214,0344,836
Long-term debt, excluding current maturities8,02041832221214,0344,836
Operating lease, liability4,5456,2972,041
Other undisclosed long-term debt and lease obligation(4,201)(5,896)(1,757)    
Liabilities, other than long-term debt7904652633738321,1991,124
Deferred revenue and credits362460527
Deferred revenue34130519
Contract with customer, liability19
Deferred rent credit   189
Deferred tax liabilities, net164372346171
Deferred income tax liabilities449160245
Business combination, contingent consideration, liability    98394426
Other undisclosed noncurrent liabilities4,2016,8231,757  16667
Total noncurrent liabilities:13,3557,7302,3875959535,3996,027
Total liabilities:42,91736,75413,5658,7535,27521,25711,785
Stockholders' equity
Stockholders' equity attributable to parent97,931101,24542,83838,87020,2507,06714,892
Preferred stock5532100
Common stock16141313121110
Treasury stock, value(662)(662)(662)(662)(662)(662)(122)
Additional paid in capital131,379136,78169,40365,14245,13026,03824,550
Accumulated other comprehensive loss(1,754)(1,004)(843)(1,421)(721)(376)(399)
Accumulated deficit(31,053)(33,889)(25,076)(24,204)(23,509)(17,944)(9,148)
Total stockholders' equity:97,931101,24542,83838,87020,2507,06714,892
TOTAL LIABILITIES AND EQUITY:140,848137,99956,40347,62325,52628,32426,677

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues139,599105,12264,43950,54631,81124,49323,080
Revenue, net31,81124,49323,080
Cost of revenue
(Cost of Goods and Services Sold)
(86,918)(64,821)(41,186)(31,253)(17,679)(13,417)(11,630)
Gross profit:52,68140,30123,25319,29314,13211,07711,450
Operating expenses(136,070)(113,393)(64,371)(53,086)(36,333)(32,394)(27,538)
Other undisclosed operating income86,91864,82141,18631,25317,67913,41711,630
Operating income (loss):3,529(8,271)67(2,540)(4,522)(7,901)(4,458)
Nonoperating income (expense)(96)7(626)494332(53)170
Foreign currency transaction gain, before tax      143
Other nonoperating income (expense)(96)7(626)494332(53)27
Interest and debt expense(455)(488)(383)(351)(1,324)(682)(288)
Other undisclosed income from continuing operations before equity method investments, income taxes 42262101173627
Income (loss) from continuing operations before equity method investments, income taxes:2,978(8,710)(679)(2,296)(5,497)(8,600)(4,550)
Other undisclosed income from continuing operations before income taxes15      
Income (loss) from continuing operations before income taxes:2,993(8,710)(679)(2,296)(5,497)(8,600)(4,550)
Income tax expense (benefit)(157)(103)(193)157(68)(197)(138)
Net income (loss) attributable to parent:2,836(8,813)(872)(2,138)(5,565)(8,797)(4,687)
Other undisclosed net loss available to common stockholders, basic(14,052)(13,877)(6,386)(4,824)(2,030)(753)(207)
Net loss available to common stockholders, diluted:(11,216)(22,690)(7,258)(6,962)(7,595)(9,549)(4,894)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):2,836(8,813)(872)(2,138)(5,565)(8,797)(4,687)
Other comprehensive income (loss)   (700)(345)23(190)
Comprehensive income (loss):2,836(8,813)(872)(2,838)(5,910)(8,774)(4,877)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(750)(161)578    
Comprehensive income (loss), net of tax, attributable to parent:2,086(8,974)(294)(2,838)(5,910)(8,774)(4,877)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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