Revenue growth remains inconsistent with a 1.22% year-over-year rate, while operating margins remain thin, reaching only 3.5% in 2026Q1.
| Sales/Revenue | 345.9M | 346.84M | 342.65M | 339.44M | 326.65M | 280.63M | 264.49M | 274.63M | 280.41M | 276.93M | 267.27M |
| Revenue Growth % | -0.45% | 1.22% | 0.95% | 3.91% | 16.4% | 6.1% | -3.69% | -2.06% | 1.26% | 3.61% | - |
| Cost of Goods Sold | 161.81M | 189.25M | 168.53M | 175.87M | 166.54M | 135.78M | 128.24M | 130.49M | 141.17M | 136.04M | 139.44M |
| COGS % of Revenue | - | 54.56% | 49.19% | 51.81% | 50.98% | 48.38% | 48.49% | 47.51% | 50.34% | 49.12% | 52.17% |
| Gross Profit | 184.09M | 157.59M | 174.12M | 163.57M | 160.11M | 144.85M | 136.25M | 144.15M | 139.24M | 140.89M | 127.83M |
| Gross Margin % | 53.22% | 45.43% | 50.81% | 48.19% | 49.02% | 51.62% | 51.51% | 52.49% | 49.66% | 50.88% | 47.83% |
| Gross Profit Growth % | - | -9.49% | 6.45% | 2.16% | 10.53% | 6.31% | -5.48% | 3.52% | -1.17% | 10.22% | - |
| Operating Expenses | 161.49M | 123.85M | 167.48M | 206.17M | 137.32M | 120.14M | 115.19M | 119.56M | 114.36M | 117.7M | 105.26M |
| OpEx % of Revenue | - | 35.71% | 48.88% | 60.74% | 42.04% | 42.81% | 43.55% | 43.54% | 40.78% | 42.5% | 39.38% |
| Selling, General & Admin | 109.87M | 104.2M | 104.05M | 104.2M | 82.1M | 70.46M | 70.31M | 71.69M | 77.99M | 79.94M | 72.64M |
| SG&A % of Revenue | - | 30.04% | 30.37% | 30.7% | 25.13% | 25.11% | 26.58% | 26.11% | 27.81% | 28.87% | 27.18% |
| Research & Development | 39.88M | 32.56M | 34.46M | 37.25M | 30.93M | 30.39M | 33.46M | 36.86M | 36.37M | 37.76M | 32.62M |
| R&D % of Revenue | - | 9.39% | 10.06% | 10.97% | 9.47% | 10.83% | 12.65% | 13.42% | 12.97% | 13.64% | 12.21% |
| Other Operating Expenses | 1000K | -12.9M | 28.97M | 64.72M | 24.3M | 19.29M | 11.42M | 11.01M | 0 | 0 | 0 |
| Operating Income | 15.73M | 33.73M | 6.63M | -42.6M | 22.78M | 24.71M | 21.05M | 24.58M | 24.88M | 23.19M | 22.57M |
| Operating Margin % | 4.55% | 9.73% | 1.94% | -12.55% | 6.97% | 8.8% | 7.96% | 8.95% | 8.87% | 8.37% | 8.45% |
| Operating Income Growth % | - | 408.38% | 115.57% | -287% | -7.79% | 17.35% | -14.36% | -1.2% | 7.31% | 2.71% | - |
| EBITDA | 35.59M | 60.01M | 35.61M | -16.14M | 46.11M | 41.58M | 34.27M | 37M | 37.16M | 36.06M | 35.82M |
| EBITDA Margin % | 10.29% | 17.3% | 10.39% | -4.75% | 14.12% | 14.82% | 12.96% | 13.47% | 13.25% | 13.02% | 13.4% |
| EBITDA Growth % | -23.03% | 68.52% | 320.67% | -134.99% | 10.9% | 21.35% | -7.38% | -0.45% | 3.05% | 0.69% | - |
| D&A (Non-Cash Add-back) | 19.86M | 26.28M | 28.97M | 26.47M | 23.33M | 16.87M | 13.21M | 12.41M | 12.28M | 12.88M | 13.24M |
| EBIT | 7.88M | 16.18M | 5.96M | -41.86M | 24.4M | 26.24M | 22.35M | 30.39M | 25.68M | -5.75M | 14.6M |
| Net Interest Income | -8.93M | -12.32M | -16.17M | -12.52M | -6.32M | -3.16M | -3.56M | -6.69M | -7.58M | -7.74M | -6.61M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 6.3M | 12.32M | 16.17M | 12.52M | 6.32M | 3.16M | 3.56M | 6.69M | 7.58M | 7.74M | 6.61M |
| Other Income/Expense | -16.2M | -29.86M | -16.84M | -11.78M | -4.7M | -1.63M | -2.27M | -887K | -6.77M | -36.67M | -6.39M |
| Pretax Income | -471K | 3.87M | -10.2M | -54.38M | 18.08M | 23.08M | 18.78M | 23.7M | 18.11M | -13.48M | 7.99M |
| Pretax Margin % | -0.14% | 1.12% | -2.98% | -16.02% | 5.54% | 8.22% | 7.1% | 8.63% | 6.46% | -4.87% | 2.99% |
| Income Tax | -4.87M | -485K | 10.23M | -8.59M | 2.21M | 4.65M | 4.54M | 3.23M | 476K | 3.93M | 4.05M |
| Effective Tax Rate % | 1034.39% | -12.54% | -100.3% | 15.8% | 12.24% | 20.13% | 24.16% | 13.62% | 2.63% | -29.17% | 50.75% |
| Net Income | 4.4M | 4.35M | -20.44M | -45.79M | 15.87M | 18.43M | 14.25M | 20.47M | 17.04M | -17.1M | 3.9M |
| Net Margin % | 1.27% | 1.26% | -5.96% | -13.49% | 4.86% | 6.57% | 5.39% | 7.45% | 6.08% | -6.17% | 1.46% |
| Net Income Growth % | 126.19% | 121.3% | 55.36% | -388.58% | -13.91% | 29.37% | -30.4% | 20.14% | 199.63% | -539.02% | - |
| Net Income (Continuing) | 4.4M | 4.35M | -20.44M | -45.79M | 15.87M | 18.43M | 14.25M | 20.47M | 17.63M | -17.42M | 3.93M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.30 | 0.29 | -1.38 | -3.15 | 1.08 | 1.26 | 0.98 | 1.43 | 1.26 | -1.27 | 0.29 |
| EPS Growth % | 245.58% | 121.01% | 56.19% | -391.67% | -14.29% | 28.57% | -31.47% | 13.49% | 199.21% | -537.93% | - |
| EPS (Basic) | - | 0.29 | -1.38 | -3.15 | 1.08 | 1.26 | 0.98 | 1.43 | 1.26 | -1.27 | 0.29 |
| Diluted Shares Outstanding | 14.56M | 14.49M | 14.3M | 14.19M | 14.36M | 14.32M | 14.04M | 13.78M | 13.57M | 13.42M | 13.26M |
| Basic Shares Outstanding | 14.56M | 14.49M | 14.3M | 14.19M | 14.36M | 14.29M | 14.04M | 13.78M | 13.56M | 13.42M | 13.26M |
| Dividend Payout Ratio | - | - | - | - | - | - | 30.44% | 27.99% | 32.99% | - | 644.21% |
Thin operating margin buffer
As reported in recent financial filings, TruBridge has struggled to generate meaningful top-line momentum, with revenue growth fluctuating between -3.4% and 5.8% over the last ten quarters, ultimately resulting in a modest 1.22% year-over-year growth rate that highlights the difficulty of transitioning legacy EHR clients.
The company's revenue trajectory appears to be hampered by the slow adoption of its cloud-based service offerings, which are intended to replace legacy on-premise software licenses. This transition likely creates a temporary headwind as the business model shifts from large, upfront license payments to ratable subscription revenue, potentially masking underlying demand for its RCM services.
Based on the provided income statement data, TruBridge maintains a gross margin profile that has hovered between 49.1% and 55.5% over the past ten quarters, reflecting the labor-intensive nature of its RCM segment and the ongoing costs associated with maintaining legacy healthcare information technology infrastructure.
The inability to consistently expand gross margins suggests that the company faces significant variable labor costs, particularly for medical coding and billing specialists. Investors should monitor whether the shift toward the TruBridge cloud platform can eventually drive operating efficiencies, as current margins remain vulnerable to wage inflation within the healthcare services sector.
According to historical income statements, TruBridge has failed to demonstrate consistent operating leverage, with operating margins frequently dipping into negative territory or remaining in the low single digits, as evidenced by the 3.5% operating margin reported in the most recent 2026Q1 period.
The company's high fixed-cost base, combined with significant SG&A and R&D expenditures, appears to consume the majority of gross profits, leaving little room for bottom-line expansion. This lack of scalability suggests that management's current cost structure may be misaligned with the company's slow revenue growth, warranting further investigation into the efficiency of its administrative overhead.
As indicated by the quarterly data, TruBridge's net income has been highly erratic, swinging from a $42.5 million loss in 2023Q4 to a $5.6 million profit in 2025Q3, largely due to significant fluctuations in stock-based compensation and other non-operating charges that obscure core operational performance.
The frequent divergence between operating income and net income suggests that investors should focus on normalized earnings metrics rather than reported GAAP figures. The impact of stock-based compensation, which reached $13.2 million in 2025Q4, appears to be a material factor that may be diluting shareholder value and distorting the true profitability of the underlying business.
Based on the provided financial data, short-sellers may focus on the company's thin 1.26% net margin and the persistent risk of margin compression, as the firm struggles to balance legacy software maintenance costs with the high variable expenses required to scale its RCM service business.
The competitive landscape, dominated by larger enterprise players, poses a significant threat if TruBridge cannot successfully differentiate its RCM platform. If the company fails to achieve scale, the combination of stagnant revenue and high operating costs may lead to further earnings volatility, potentially challenging the sustainability of its current business model.
Quick answers to the most common questions about buying TBRG stock.
For fiscal year 2025, TruBridge, Inc. (TBRG) reported total revenue of $346.8M. This represents a 29.8% increase compared to $267.3M in 2016.
TruBridge, Inc. (TBRG) is profitable, generating $4.4M in net income for the fiscal year ending 2025 with a net profit margin of 1.3%.
TruBridge, Inc. (TBRG) reported an operating income of $33.7M, resulting in an operating profit margin of 9.7%. This margin reflects the operational efficiency of the business before interest and taxes.
TruBridge, Inc. (TBRG) generated $157.6M in gross profit for the year, representing a gross profit margin of 45.4%. This demonstrates the company's core pricing power and production efficiency.