The following is a summary of the TruBridge, Inc. (TBRG) Q2 2024 Earnings Call Transcript:

Financial Performance:

• TruBridge reported a solid financial performance in Q2 2024, with total bookings of $23.3 million, marking this as the third consecutive quarter with bookings above $20 million.

• The company achieved an EBITDA of $12.6 million for the quarter, which represents a 12% increase year-over-year and a 33% increase sequentially.

• Revenue for the quarter remained stable at $84.7 million, consistent with the previous year, despite the divestiture of AHT and the sunsetting of Centric.

Business Progress:

• TruBridge has shown significant progress in its offshoring initiatives, increasing offshored operations from 25% in Q1 to 43% in Q2, amidst its transformation efforts, focusing on both rural and community markets.

• The company's nTrust integrated solution continues to resonate well in the market, with a 60% increase in new nTrust clients in the first half of the year compared to 2023.

• TruBridge is focusing on enhancing cross-selling efforts, with $7 million signed in additional services from existing clients in the quarter.

Opportunities:

• The company is witnessing a great uptake of its integrated nTrust solutions, which positions it strongly in the market, highlighting potential for further expansion in services and product offerings.

• Viewgol acquisition has started contributing positively, aligning well with the company's long-term strategy and further pushing the adoption of offshore capabilities which could enhance competitive positioning and operational efficiency.

Risks:

• Challenges were identified with the transition to offshoring operations, notably impacting client retention which triggered proactive measures to enhance client management and service delivery.

• The significant changes in staff allocation and offshoring could introduce temporary disruptions or reductions in service quality, impacting client satisfaction.

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