XML 19 R8.htm IDEA: XBRL DOCUMENT v3.25.3
BASIS OF PRESENTATION
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and include all adjustments that, in the opinion of management, are necessary for a fair presentation of the results of the periods presented. All such adjustments are considered of a normal recurring nature. Quarterly results of operations are not necessarily indicative of annual results.
Certain footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. The condensed consolidated balance sheet as of December 31, 2024 was derived from the audited consolidated balance sheet at that date. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements of TruBridge, Inc. (“TruBridge” or the “Company”) for the year ended December 31, 2024 and the notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.
Unbilled Accounts Receivable
Unbilled accounts receivable represents services performed but not billed and are included as accounts receivable on the condensed consolidated balance sheets. The Company had $18.0 million and $15.4 million at September 30, 2025 and December 31, 2024, respectively.
Reportable Segments Presentation Changes
In May 2024, the Company realigned its reporting structure due to certain organizational changes. As a result, the Company changed from three reportable segments of (i) Revenue Cycle Management (“RCM”), (ii) Electronic Health Records (“EHR”), and (iii) Patient Engagement to two reportable segments of (i) RCM and (ii) EHR. The Patient Engagement segment results have been transitioned into the EHR segment. As part of the realignment, the reportable segment naming convention was updated. The previously reported RCM segment has been updated to Financial Health, and the former EHR segment has been updated to Patient Care. The change is intended to improve connectivity and alignment between the two business units to better serve our clients and more accurately reflect how the Company’s management views and operates the business. All prior segment information has been recast to reflect the Company's new segment structure and current period presentation. Refer to Note 17 - Segment Reporting for more information.
Revision of Previously Issued Financial Statements
During the year ended December 31, 2024, the Company reversed revenue from customers that was recognized improperly during the prior year. The Company assessed the materiality of this error on the prior period consolidated financial statements in accordance with the SEC Staff Accounting Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements.” In its assessment, the Company concluded based on quantitative and qualitative analysis that this error was not material to the Company’s consolidated financial statements for the 2023 fiscal year or any interim periods therein.
Accordingly, the Company made corrections, as disclosed in the table below, to the condensed consolidated financial statements for the three months ended September 30, 2024:
(In thousands, except per share data)As previously reportedImpact of revisionAs adjusted
Condensed Consolidated Statement of Operations
Revenue:
Financial Health$54,271 $401 $54,672 
Patient Care29,559 469 30,028 
Total revenue$83,830 $870 $84,700 
Operating income1,944 870 2,814 
Income (loss) before taxes(2,465)870 (1,595)
Provision for income taxes7,344 209 7,553 
Net income (loss)(9,809)661 (9,148)
Net income (loss) per share - basic$(0.66)$0.05 (0.61)
Net income (loss) per share - diluted$(0.66)$0.05 (0.61)
Condensed Consolidated Statement of Comprehensive Income (Loss)
Net income (loss)$(9,809)$661 $(9,148)
Comprehensive income (loss)(9,810)661 (9,149)
Condensed Consolidated Statement of Equity
Accumulated earnings (deficit) at June 30, 2024$567 $(1,322)$(755)
Total stockholders’ equity at June 30, 2024181,102 (1,322)179,780 
Net income (loss)(9,809)661 (9,148)
Accumulated earnings (deficit) at September 30, 2024(9,242)(661)(9,903)
Total stockholders’ equity at September 30, 2024172,647 (661)171,986 
The Company made corrections, as disclosed in the table below, to the condensed consolidated financial statements for the nine months ended September 30, 2024:
(In thousands, except per share data)As previously reportedImpact of revisionAs adjusted
Condensed Consolidated Statement of Operations
Revenue:
Financial Health$161,417 $1,203 $162,620 
Patient Care90,389 1,407 91,796 
Total revenue$251,806 $2,610 $254,416 
Operating income (loss)(2,534)2,610 76 
Income (loss) before taxes(13,743)2,610 (11,133)
Provision for (benefit from) income taxes3,631 626 4,257 
Net income (loss)(17,374)1,984 (15,390)
Net income (loss) per share - basic$(1.17)$0.13 (1.04)
Net income (loss) per share - diluted$(1.17)$0.13 (1.04)
Condensed Consolidated Statement of Comprehensive Income (Loss)
Net income (loss)$(17,374)$1,984 $(15,390)
Comprehensive income (loss)(17,267)1,984 (15,283)
Condensed Consolidated Statement of Equity
Accumulated earnings (deficit) at December 31, 2023$8,132 $(2,645)$5,487 
Total stockholders’ equity at December 31, 2023186,618 (2,645)183,973 
Net income (loss)(17,374)1,984 (15,390)
Accumulated earnings (deficit) at September 30, 2024(9,242)(661)(9,903)
Total stockholders’ equity at September 30, 2024172,647 (661)171,986 
Condensed Consolidated Statement of Cash Flows
Net income (loss)$(17,374)$1,984 $(15,390)
Accounts receivable2,946 (2,610)336 
Income taxes, net(344)626 282 
Principles of Consolidation
The condensed consolidated financial statements of TruBridge include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. Our fiscal year ends on December 31, while certain foreign subsidiaries maintain a fiscal year ending on March 31 to facilitate the timely consolidation of financial information. The difference in fiscal year-ends does not exceed three months. Adjustments are made for the effects of significant transactions or events that occur during the intervening three-month period that materially affect the consolidated financial position or results of operations.
Subsequent Events
The Company has evaluated subsequent events through November 7, 2025, the date these condensed consolidated financial statements were issued. The Company concluded that no subsequent events have occurred that would require recognition or disclosure in the condensed consolidated financial statements other than what has been disclosed in these condensed consolidated financial statements and accompanying notes.