Earnings quality is obscured by accruals, as evidenced by an OCF/NI ratio of 3.92 in 2026Q1, indicating that non-cash charges disproportionately influence reported performance.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Cash from Operations | 27.06M | 28.56M | 20.64M | 15.46M | 21.15M | 13.33M | -892K | 7.62M | 6.81M | 281.64K | -897.84K | -1.88M | -2.7M | 928.97K | 712.43K | 388.26K |
| Operating CF Margin % | - | 23.7% | 18.62% | 13.21% | 15.24% | 9.55% | -0.85% | 11.82% | 13.48% | 0.89% | -3.67% | -8.16% | -14.75% | 8.87% | 7.11% | 3.85% |
| Operating CF Growth % | 113.85% | 38.36% | 33.51% | -26.9% | 58.62% | 1594.84% | -111.71% | 11.82% | 2318.84% | 131.37% | 52.31% | 30.27% | -390.67% | 30.39% | 83.49% | - |
| Net Income | 9.77M | 10.8M | 7.85M | -48.67M | 5.43M | 2.84M | -8.81M | -872K | -2.14M | -5.57M | -8.8M | -4.69M | -4.51M | -178K | 117K | 469.89K |
| Depreciation & Amortization | 613K | 0 | 16.46M | 17.04M | 15.6M | 16.25M | 13.02M | 3.07M | 2.91M | 4.3M | 5.11M | 4.6M | 2.79M | 948.53K | 678.73K | 545.57K |
| Stock-Based Compensation | -108K | 0 | 115K | 4.89M | 4.91M | 5.4M | 6.5M | 3.22M | 2.46M | 1.49M | 1.88M | 628.79K | 258.88K | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | -525K | 76K | 289K | -84K | 80K | -207.73K | 26.54K | 174.26K | 171.27K | 153.36K | 106.99K | -63.53K | 27.28K |
| Other Non-Cash Items | 17.69M | 18.13M | 759K | 43.84M | -842K | -648K | 290K | 2.94M | 445.67K | 1.02M | -206.93K | -1.66M | -1.58M | 99.34K | 26.82K | 78.12K |
| Working Capital Changes | -909K | -371K | -4.55M | -1.11M | -4.03M | -10.79M | -11.81M | -821K | 3.34M | -987.77K | 945.7K | -936.4K | 188.28K | 194.51K | -121.75K | -741.8K |
| Change in Receivables | 1.17M | 346K | -460K | 1.55M | 1.82M | -1.24M | 94K | 1.13M | 1.48M | 41.74K | -456.47K | 520.12K | -2.17M | -22.16K | -118.6K | 382.21K |
| Change in Inventory | 110K | 67K | -109K | -84K | 122K | -104K | 92K | -47K | -137.16K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -3.55M | 1.27M | -4.65M | -3.26M | -6.59M | -10.37M | -11.88M | -1.37M | 2.15M | -1.54M | 1.08M | -1.69M | 2.28M | 189.98K | -79.79K | -1.14M |
| Cash from Investing | -24.26M | -24.54M | -7.41M | -11.61M | -11.77M | -23.15M | -31.47M | -4.16M | -13.63M | -902.21K | -3.83M | -602.42K | -12.65M | -706.29K | -356.48K | -377.66K |
| Capital Expenditures | -1.23M | 0 | -1.7M | -3.06M | -2.59M | -2.93M | -2.59M | -2.02M | -1.03M | -697.21K | -463.4K | -421.86K | -1.12M | -286.5K | -153.07K | -187.36K |
| CapEx % of Revenue | 0.99% | 3.97% | 1.53% | 2.62% | 1.86% | 2.1% | 2.46% | 3.13% | 2.03% | 2.19% | 1.89% | 1.83% | 6.1% | 2.74% | 1.53% | 1.86% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | -12.58M | -23.72M | -1.6M | -12.6M | -205K | -3.37M | -180.56K | -11.54M | -275K | -319.2K | -90.3K |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -23.02M | -24.54M | -5.71M | -8.55M | -9.18M | -7.64M | -5.16M | -538K | 0 | 0 | 0 | 0 | 0 | -144.79K | 115.79K | -100K |
| Cash from Financing | -5.83M | -5.61M | -11.26M | -13.29M | -7.65M | -519K | 33.42M | 1.42M | 17.66M | 1.84M | 157.31K | 9.5M | 15.88M | 33K | -327.78K | 119.38K |
| Debt Issued (Net) | 4K | 832K | -10.68M | 1.11M | -1M | 6.88M | -666K | -430K | -464.17K | -14.72M | 519.06K | 4.99M | -1.29M | 915.73K | -327.78K | 119.38K |
| Equity Issued (Net) | 21K | 0 | -579K | 1.43M | 10.9M | 9.17M | 44.54M | 9.59M | 22.82M | 18.51M | 724.38K | 4.56M | 17.17M | 0 | 0 | 0 |
| Dividends Paid | -186K | -6.29M | 0 | -14.3M | -15.31M | -14.44M | -11.38M | -6.11M | -4.1M | -1.49M | -709.18K | -47.77K | 0 | 0 | 0 | 0 |
| Share Repurchases | 21K | 0 | -579K | 0 | 0 | 0 | 0 | 0 | -333.01K | 0 | -546.14K | -122.03K | 0 | 0 | 0 | 0 |
| Other Financing | -5.67M | -148K | 0 | -1.52M | -2.23M | -2.12M | 927K | -1.63M | -594.45K | -458.5K | -376.95K | 0 | 0 | -882.73K | 0 | 0 |
| Net Change in Cash | -2.95M | -1.53M | 1.81M | -8.97M | 1.96M | -10.59M | 931K | 5.52M | 10.11M | 885.35K | -4.56M | 6.99M | 550.72K | 229.62K | -140.09K | 106.11K |
| Free Cash Flow | 27.27M | 23.78M | 18.95M | 3.85M | 9.38M | 2.77M | -8.64M | 5.06M | 5.78M | -415.57K | -1.36M | -2.3M | -3.82M | 642.46K | 559.36K | 200.9K |
| FCF Margin % | 21.97% | 19.74% | 17.09% | 3.29% | 6.76% | 1.98% | -8.22% | 7.85% | 11.44% | -1.31% | -5.56% | -9.99% | -20.85% | 6.13% | 5.58% | 1.99% |
| FCF Growth % | 49.92% | 25.54% | 392.33% | -58.99% | 238.77% | 132.05% | -270.83% | -12.52% | 1491.88% | 69.47% | 40.93% | 39.61% | -694.02% | 14.86% | 178.42% | - |
| FCF per Share | 0.64 | 0.06 | 1.17 | 0.25 | 0.62 | 0.19 | -0.68 | 0.42 | 0.49 | -0.04 | -0.14 | -0.24 | -0.54 | 0.06 | 0.05 | 0.02 |
| FCF Conversion (FCF/Net Income) | 2.79x | 2.65x | 2.63x | -0.32x | 3.89x | 4.70x | 0.10x | -8.74x | -3.19x | -0.05x | 0.10x | 0.40x | 0.60x | -5.22x | 6.09x | 0.83x |
| Interest Paid | -18K | 0 | 677K | 927K | 162K | 103K | 165K | 67K | 64.67K | 612.28K | 451.53K | 256.27K | 147.19K | 155.43K | 91.9K | 42.62K |
| Taxes Paid | -15K | 0 | 157K | 144K | 153K | 282K | 85K | 119K | 42.06K | 9.3K | 52.46K | 9.76K | 5.23K | 22K | 222K | 463.61K |
Thin liquidity and volatility
According to the provided quarterly data, CareCloud consistently reports operating cash flow significantly higher than net income, with an OCF/NI ratio that reached 3.92 in 2026Q1, suggesting that non-cash charges and accrual accounting play a disproportionate role in the company's reported financial performance metrics.
The persistent gap between net income and operating cash flow implies that reported earnings may not be fully representative of the company's actual cash-generating capacity. Investors should monitor whether this divergence is driven by sustainable depreciation of acquired assets or if it reflects aggressive capitalization of software development costs that may require future cash outlays.
As reported in financial statements, CareCloud's free cash flow margins have fluctuated wildly from a low of 5.1% in 2023Q4 to a peak of 32.9% in 2025Q4, indicating that the company's ability to generate surplus cash remains highly sensitive to operational and non-operating quarterly adjustments.
This erratic FCF trajectory suggests that the business model lacks the predictable cash conversion typical of mature SaaS providers. The inability to maintain a stable FCF margin complicates long-term capital planning and may force the company to rely on external financing to bridge gaps during periods of lower cash generation.
Based on reported figures, CareCloud's capital expenditure as a percentage of revenue has averaged roughly 4.5% over the last ten quarters, which appears elevated for a software-focused firm and suggests significant ongoing investment is required to maintain its integrated clinical and financial platform infrastructure.
The necessity of consistent capital investment to support legacy system integration and platform updates may be a structural drag on free cash flow. This level of capital intensity warrants further investigation into whether these expenditures are truly growth-oriented or merely maintenance costs required to prevent client churn in a competitive healthcare IT environment.
As indicated by the quarterly cash flow statements, CareCloud experiences frequent and significant swings in working capital, including a $2.3M outflow in 2024Q4, which highlights the operational difficulty of managing collections and payables within its hybrid RCM and software service business model.
These working capital fluctuations suggest that the company's cash position is vulnerable to timing differences in insurance reimbursements and client payment cycles. Such volatility in cash conversion cycles may exacerbate the company's already thin liquidity buffer, potentially limiting its operational flexibility during periods of market stress.
Based on the provided data, CareCloud's capital deployment has been characterized by sporadic dividend payments and minimal share repurchases, which appears inconsistent with the company's limited cash reserves of $3.1M and suggests a potential misalignment between shareholder return objectives and the firm's actual liquidity constraints.
The decision to pay dividends while maintaining such a thin cash cushion may indicate a strategy to signal stability to investors, though it risks undermining the company's ability to fund organic growth. Future capital allocation decisions should be scrutinized for their impact on the company's ability to navigate potential operational headwinds.
Quick answers to the most common questions about buying CCLD stock.
CareCloud, Inc. (CCLD) generated $28.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
CareCloud, Inc. (CCLD) generated $23.8M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
CareCloud, Inc. (CCLD) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, CareCloud, Inc. (CCLD) returned $6.3M to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.