MTBC Reaffirms 2020 Guidance
CareCloud, Inc. (MTBC)
Last carecloud, inc. earnings: 2/28 07:00 am
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US:NASDAQ Investor Relations:
ir.mtbc.com
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Source: GlobeNewswire
SOMERSET, N.J., April 09, 2020 (GLOBE NEWSWIRE) -- MTBC, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP), a leading provider of cloud-based healthcare IT solutions and services, including telehealth, reaffirmed its 2020 revenue and earnings guidance, which will represent year-over-year revenue and adjusted EBITDA growth of nearly 50% or more. “MTBC is pleased to reaffirm our 2020 full-year revenue guidance of $100 – 102 million and adjusted EBITDA guidance of $12 – 13 million, despite the uncertainty in the U.S. economy from the COVID-19 pandemic and the related significant decline in non-emergency doctor visits,” said Bill Korn, MTBC Chief Financial Officer. Mr. Korn continued, “Approximately 60% of our revenue is directly tied to the cash collected by our medical practice customers, which means our short-term revenue will decline as less patients visit their doctors during periods of social distancing. However, a limited portion of this steep decline is expected to be offset by
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