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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING Our chief operating decision makers ("CODM") previously utilized the following three operating segments, "Acute Care EHR", "Post-acute care EHR" and "TruBridge". However, in the fourth quarter of 2022, the Company made a number of changes to its organizational structure and management system to better align the Company's operating model to its strategic initiatives. As a result of these changes, the Company revised its operating segments. The new operating and reportable segments, based on our three distinct business units with unique market dynamics and opportunities, are RCM, EHR, and "Patient Engagement". These segments represent the components of the Company for which separate financial information is available that is utilized on a regular basis by the CODM in assessing segment performance and in allocating the Company's resources. Management evaluates the performance of the segments based on revenues and adjusted EBITDA. The Company previously evaluated the performance of the segments based on segment gross profit. Management believes adjusted EBITDA is a useful measure to assess the performance and liquidity of the Company as it provides meaningful operating results by excluding the effects of expenses that are not reflective of its operating business performance. Our CODM group is comprised of the Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer. Accounting policies for each of the reportable segments are the same as those used on a consolidated basis. The segment disclosures below for the years ended December 31, 2022, and 2021 have been recast to conform to the current year presentation. Adjusted EBITDA consists of GAAP net income (loss) as reported and adjusts for (i) deferred revenue purchase accounting adjustments arising from purchase allocation adjustments related to business acquisitions; (ii) depreciation expense; (iii) amortization of software development costs; (iv) amortization of acquisition-related intangible assets; (v) stock-based compensation; (vi) severance and other non-recurring charges; (vii) interest expense and other, net; (viii) impairment of goodwill; (ix) impairment of trademark intangibles; (x) gain on contingent consideration; and (xi) the provision (benefit) for income taxes. There are no intersegment revenues to be eliminated in computing segment revenue. The following table presents a summary of the revenues and adjusted EBITDA of our three operating segments for the years ended December 31, 2023, 2022, and 2021:
| Year Ended December 31,
(In thousands) | 2023 |  | 2022 |  | 2021
Revenues: |  |  |  |  |
RCM | $ | 193,929 |  |  | $ | 179,870 |  |  | $ | 131,242 |
EHR |  |  |  |  |
Recurring revenue |  |  |  |  |
Acute Care EHR | $ | 111,276 |  |  | $ | 109,340 |  |  | $ | 108,440 |
Post-acute Care EHR | $ | 14,712 |  |  | $ | 15,384 |  |  | $ | 16,472 |
Total recurring EHR revenues | 125,988 |  |  | 124,724 |  |  | 124,912 |
Non-recurring revenue |  |  |  |  |
Acute Care EHR | $ | 10,657 |  |  | $ | 13,138 |  |  | $ | 16,939 |
Post-acute Care EHR | $ | 1,418 |  |  | $ | 1,961 |  |  | $ | 1,258 |
Total non-recurring EHR revenues | 12,075 |  |  | 15,099 |  |  | 18,197 |
Total EHR revenue | 138,063 |  |  | 139,823 |  |  | 143,109 |
Patient engagement | 7,443 |  |  | 6,955 |  |  | 6,278 |
Total revenues | $ | 339,435 |  |  | $ | 326,648 |  |  | $ | 280,629 |
Adjusted EBITDA by Segment: |  |  |  |  |
RCM | 24,800 |  |  | 35,219 |  |  | 28,265 |
EHR | 22,900 |  |  | 22,507 |  |  | 26,505 |
Patient engagement | (124) |  |  | (1,827) |  |  | (2,093) |
Total adjusted EBITDA | $ | 47,576 |  |  | $ | 55,899 |  |  | $ | 52,677 |
The following table reconciles net income to adjusted EBITDA:
| Year Ended December 31,
(In thousands) | 2023 |  | 2022 |  | 2021
Net income (loss), as reported | $ | (45,789) |  |  | $ | 15,867 |  |  | $ | 18,430 |
Deferred revenue and other acquisition-related adjustments | — |  |  | 109 |  |  | 747 |
Depreciation expense | 1,946 |  |  | 2,443 |  |  | 2,156 |
Amortization of software development costs | 8,096 |  |  | 3,484 |  |  | 931 |
Amortization of acquisition-related intangibles | 16,426 |  |  | 17,403 |  |  | 13,786 |
Stock-based compensation | 3,271 |  |  | 5,173 |  |  | 5,457 |
Severance and other non-recurring charges | 22,186 |  |  | 4,504 |  |  | 4,892 |
Interest expense and other, net | 11,776 |  |  | 5,267 |  |  | 1,632 |
Impairment of goodwill | 35,913 |  |  | — |  |  | — |
Impairment of trademark intangibles | 2,342 |  |  | — |  |  | — |
Gain on contingent consideration | — |  |  | (565) |  |  | — |
Provision (benefit) for income taxes | (8,591) |  |  | 2,214 |  |  | 4,646 |
Total adjusted EBITDA | $ | 47,576 |  |  | $ | 55,899 |  |  | $ | 52,677 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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