Operating margins have struggled to scale, peaking at 12.2% in 2024Q4 before declining to 3.4% in 2026Q1, reflecting persistent overhead challenges.
| 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 |
|---|
| Sales/Revenue | 124.14M | 120.5M | 110.84M | 117.06M | 138.83M | 139.6M | 105.12M | 64.44M | 50.55M | 31.81M | 24.49M | 23.08M | 18.3M | 10.47M | 10.02M | 10.09M |
| Revenue Growth % | 10.34% | 8.72% | -5.32% | -15.68% | -0.55% | 32.8% | 63.14% | 27.49% | 58.9% | 29.87% | 6.12% | 26.1% | 74.77% | 4.54% | -0.71% | - |
| Cost of Goods Sold | 84.84M | 64.46M | 60.84M | 70.82M | 84.43M | 86.92M | 64.82M | 41.19M | 31.25M | 17.68M | 13.42M | 11.63M | 10.64M | 4.27M | 4.26M | 4.51M |
| COGS % of Revenue | - | 53.49% | 54.89% | 60.5% | 60.82% | 62.26% | 61.66% | 63.92% | 61.83% | 55.58% | 54.78% | 50.39% | 58.11% | 40.8% | 42.5% | 44.67% |
| Gross Profit | 39.3M | 56.04M | 49.99M | 46.24M | 54.39M | 52.68M | 40.3M | 23.25M | 19.29M | 14.13M | 11.08M | 11.45M | 7.67M | 6.2M | 5.76M | 5.58M |
| Gross Margin % | 31.66% | 46.51% | 45.11% | 39.5% | 39.18% | 37.74% | 38.34% | 36.08% | 38.17% | 44.42% | 45.22% | 49.61% | 41.89% | 59.2% | 57.5% | 55.33% |
| Gross Profit Growth % | - | 12.1% | 8.12% | -14.98% | 3.25% | 30.72% | 73.32% | 20.52% | 36.53% | 27.58% | -3.26% | 49.35% | 23.66% | 7.63% | 3.18% | - |
| Operating Expenses | 28.76M | 44.55M | 40.87M | 93.36M | 47.78M | 49.15M | 48.57M | 23.31M | 21.76M | 18.23M | 19.69M | 17.69M | 13.52M | 6.33M | 5.74M | 4.99M |
| OpEx % of Revenue | - | 36.97% | 36.88% | 79.75% | 34.42% | 35.21% | 46.21% | 36.17% | 43.05% | 57.3% | 80.4% | 76.67% | 73.86% | 60.42% | 57.28% | 49.42% |
| Selling, General & Admin | 24.65M | 23.2M | 22.36M | 31.11M | 33.61M | 33.06M | 29.39M | 19.43M | 17.88M | 12.84M | 13.68M | 12.44M | 10.2M | 4.99M | 4.66M | 4.03M |
| SG&A % of Revenue | - | 19.26% | 20.17% | 26.58% | 24.21% | 23.68% | 27.96% | 30.16% | 35.37% | 40.38% | 55.86% | 53.89% | 55.71% | 47.67% | 46.55% | 39.94% |
| Research & Development | 7.56M | 6.38M | 3.78M | 4.74M | 4.4M | 4.41M | 9.31M | 870.78K | 1.03M | 1.08M | 902.19K | 659.18K | 531.68K | 386.11K | 396.43K | 410.13K |
| R&D % of Revenue | - | 5.3% | 3.41% | 4.05% | 3.17% | 3.16% | 8.86% | 1.35% | 2.04% | 3.4% | 3.68% | 2.86% | 2.9% | 3.69% | 3.96% | 4.07% |
| Other Operating Expenses | 1000K | 14.96M | 14.74M | 57.51M | 9.77M | 11.69M | 9.87M | 3.01M | 59.53K | 83.57K | -53.28K | 26.95K | -134.72K | 30.23K | 15.12K | 46.53K |
| Operating Income | 10.54M | 11.5M | 9.12M | -47.12M | 6.61M | 3.53M | -8.27M | -421.1K | -2.54M | -4.52M | -7.9M | -4.46M | -4.04M | -127.52K | 22.02K | 597.06K |
| Operating Margin % | 8.49% | 9.54% | 8.23% | -40.25% | 4.76% | 2.53% | -7.87% | -0.65% | -5.02% | -14.22% | -32.26% | -19.32% | -22.08% | -1.22% | 0.22% | 5.92% |
| Operating Income Growth % | - | 26.05% | 119.36% | -812.78% | 87.31% | 142.67% | -1864.13% | 83.42% | 43.84% | 42.76% | -77.22% | -10.32% | -3069.13% | -679.12% | -96.31% | - |
| EBITDA | 28.36M | 28.47M | 25.26M | -30.56M | 21.62M | 19.78M | 4.75M | 4.47M | 314.01K | -222.22K | -2.79M | 140.35K | -1.25M | 821.01K | 700.75K | 1.14M |
| EBITDA Margin % | 22.84% | 23.63% | 22.79% | -26.11% | 15.57% | 14.17% | 4.52% | 6.94% | 0.62% | -0.7% | -11.4% | 0.61% | -6.83% | 7.84% | 7% | 11.33% |
| EBITDA Growth % | 14.73% | 12.73% | 182.64% | -241.35% | 9.31% | 316.22% | 6.24% | 1324.46% | 241.31% | 92.04% | -2090.01% | 111.23% | -252.22% | 17.16% | -38.67% | - |
| D&A (Non-Cash Add-back) | 17.82M | 16.98M | 16.14M | 16.55M | 15.01M | 16.25M | 13.02M | 4.89M | 2.85M | 4.3M | 5.11M | 4.6M | 2.79M | 948.53K | 678.73K | 545.57K |
| EBIT | 10.51M | 11.28M | 8.91M | -47.84M | 6.01M | 3.45M | -8.22M | 67K | -1.94M | -4.17M | -7.92M | -4.26M | -4.15M | 126.56K | 214.02K | 777.34K |
| Net Interest Income | -113K | -81K | -812K | -1.04M | -364K | -440K | -446K | -121K | -250.38K | -1.31M | -645.67K | -261.61K | -156.86K | -136.14K | -73.65K | -15.91K |
| Interest Income | 174K | 206K | 88K | 154K | 41K | 15K | 42K | 262K | 100.79K | 16.94K | 36.41K | 26.8K | 26.61K | 23.93K | 23.38K | 47.7K |
| Interest Expense | 287K | 287K | 900K | 1.19M | 405K | 455K | 488K | 383K | 351.17K | 1.32M | 682.08K | 288.41K | 183.47K | 160.06K | 97.03K | 63.61K |
| Other Income/Expense | -553K | -500K | -1.11M | -1.92M | -1M | -536K | -439K | 0 | 243.95K | -975.19K | -698.95K | -91.33K | -291.58K | 94.01K | -31.3K | 116.67K |
| Pretax Income | 9.98M | 11M | 8.01M | -49.04M | 5.61M | 2.99M | -8.71M | -679.02K | -2.3M | -5.5M | -8.6M | -4.55M | -4.33M | -33.51K | 116.99K | 713.73K |
| Pretax Margin % | 8.04% | 9.13% | 7.23% | -41.89% | 4.04% | 2.14% | -8.29% | -1.05% | -4.54% | -17.28% | -35.11% | -19.71% | -23.67% | -0.32% | 1.17% | 7.07% |
| Income Tax | 210K | 199K | 160K | -364K | 177K | 157K | 103K | 192.78K | -157.38K | 67.81K | 196.8K | 137.79K | 176.53K | 144.49K | -4 | 243.84K |
| Effective Tax Rate % | 2.1% | 1.81% | 2% | 0.74% | 3.16% | 5.25% | -1.18% | -28.39% | 6.86% | -1.23% | -2.29% | -3.03% | -4.07% | -431.24% | -0% | 34.16% |
| Net Income | 9.77M | 10.8M | 7.85M | -48.67M | 5.43M | 2.84M | -8.81M | -871.8K | -2.14M | -5.57M | -8.8M | -4.69M | -4.51M | -178K | 117K | 469.89K |
| Net Margin % | 7.87% | 8.96% | 7.08% | -41.58% | 3.91% | 2.03% | -8.38% | -1.35% | -4.23% | -17.49% | -35.91% | -20.31% | -24.64% | -1.7% | 1.17% | 4.66% |
| Net Income Growth % | -2.67% | 37.54% | 116.13% | -996.06% | 91.54% | 132.18% | -910.9% | 59.23% | 61.57% | 36.74% | -87.67% | -3.95% | -2433.34% | -252.14% | -75.1% | - |
| Net Income (Continuing) | 9.77M | 10.8M | 7.85M | -48.67M | 5.43M | 2.84M | -8.81M | -871.8K | -2.14M | -5.57M | -8.8M | -4.69M | -4.51M | -178K | 117K | 469.89K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.23 | 0.10 | -0.28 | -4.11 | -0.67 | -0.77 | -1.79 | -0.07 | -0.18 | -0.51 | -0.88 | -0.48 | -0.64 | -0.02 | 0.01 | 0.04 |
| EPS Growth % | 147.78% | 135.71% | 93.19% | -513.43% | 12.99% | 56.98% | -2382.66% | 59.94% | 64.71% | 42.05% | -83.33% | 25% | -3850.62% | -251.4% | -75% | - |
| EPS (Basic) | - | 0.10 | -0.28 | -4.11 | -0.67 | -0.77 | -1.79 | -0.07 | -0.18 | -0.51 | -0.88 | -0.48 | -0.64 | -0.02 | 0.01 | 0.04 |
| Diluted Shares Outstanding | 42.47M | 379.54M | 16.15M | 15.67M | 15.11M | 14.54M | 12.68M | 12.09M | 11.72M | 11.01M | 10.04M | 9.73M | 7.08M | 10.98M | 10.98M | 10.98M |
| Basic Shares Outstanding | 42.47M | 377.92M | 16.15M | 15.67M | 15.11M | 14.54M | 12.68M | 12.09M | 11.72M | 11.01M | 10.04M | 9.73M | 7.08M | 10.98M | 10.98M | 10.98M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Thin liquidity and volatility
Based on the provided quarterly income statements, CareCloud's revenue growth has exhibited significant volatility, ranging from a 13.2% increase in 2026Q1 to a 13.5% contraction in 2024Q1, suggesting that the company's reliance on inorganic acquisition cycles may be struggling to generate consistent, sustainable organic expansion.
The erratic top-line performance indicates that the company's revenue base remains highly sensitive to the timing of acquisitions and potential churn within its medical practice client base. Investors should monitor whether the recent revenue uptick in 2026Q1 represents a durable shift toward organic growth or merely a temporary fluctuation driven by non-recurring project work.
As reported in financial statements, CareCloud's gross margin experienced a sharp contraction to 3.4% in 2025Q4 from a more typical 47.8% in 2025Q3, highlighting the inherent instability in a business model that relies heavily on variable service-based costs to support its healthcare IT platform.
This extreme margin variance suggests that the company's cost-to-serve is not yet optimized, potentially due to inefficiencies in its offshore labor model or unexpected spikes in service delivery costs. The inability to maintain consistent gross margins complicates the valuation of the firm as a software-centric entity, as it behaves more like a high-touch service provider.
According to the income statement data, CareCloud's operating margin has struggled to scale, peaking at 12.2% in 2024Q4 before declining to 3.4% in 2026Q1, which suggests that the company has yet to achieve the necessary operating leverage to decouple revenue growth from rising overhead expenses.
The persistent need for SG&A and R&D investment to maintain the platform appears to offset the benefits of revenue scaling. This lack of operating leverage warrants further investigation into whether the company's current cost structure is fundamentally capable of producing meaningful margin expansion without significant automation of its manual billing processes.
Based on reported figures, CareCloud's net income has fluctuated wildly, including a significant loss of $43.7M in 2023Q4, which indicates that non-operating items and potential one-time charges continue to obscure the underlying profitability of the core medical practice management and IT services business.
The inconsistency in EPS, which swung from a $3.00 loss in 2023Q4 to a $0.04 profit in 2025Q3, suggests that investors should be cautious when relying on GAAP net income as a proxy for operational health. The presence of stock-based compensation and other non-cash adjustments further complicates the assessment of true economic earnings.
As indicated by the recent financial data, the company's thin liquidity buffer, characterized by minimal cash reserves relative to its revenue run rate, suggests that CareCloud may face significant operational constraints if it cannot maintain consistent positive cash flow to fund its ongoing service-heavy cost structure.
Short-sellers might focus on the company's inability to generate sustained, high-quality earnings, pointing to the risk that any further margin compression could necessitate dilutive financing. The reliance on an offshore labor model, while cost-effective, introduces geopolitical and wage-inflation risks that could rapidly erode the company's already narrow operating margins.
Quick answers to the most common questions about buying CCLD stock.
For fiscal year 2025, CareCloud, Inc. (CCLD) reported total revenue of $120.5M. This represents a 1094.3% increase compared to $10.1M in 2011.
CareCloud, Inc. (CCLD) is profitable, generating $10.8M in net income for the fiscal year ending 2025 with a net profit margin of 9.0%.
CareCloud, Inc. (CCLD) reported an operating income of $11.5M, resulting in an operating profit margin of 9.5%. This margin reflects the operational efficiency of the business before interest and taxes.
CareCloud, Inc. (CCLD) generated $56.0M in gross profit for the year, representing a gross profit margin of 46.5%. This demonstrates the company's core pricing power and production efficiency.