Company intends to access growth capital opportunistically only at or above $5.00 per share through its existing $60 million ATM facility
SOMERSET, N.J., May 18, 2026 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: CCLD), (“CareCloud” or the “Company”), a leader in AI-powered healthcare technology and revenue cycle management solutions, today announced the full redemption of 100% of its outstanding 8.75% Series B Preferred Stock, marking a major milestone in the Company’s multi-year transformation and capital structure evolution.
The redemption was funded through CareCloud’s recently secured $50 million credit facility, led by Citizens Bank — one of the nation’s largest commercial banks with more than $220 billion in assets — with participation from Provident Bank. The new facility replaces higher-cost preferred equity with lower-cost institutional financing and represents a significant institutional validation of CareCloud’s operating performance, cash flow profile, and long-term growth strategy.
“This is a defining moment for CareCloud,” said Stephen Snyder, Chief Executive Officer of CareCloud. “Over the past decade, preferred equity helped fuel our transformation from a traditional medical billing company into a scaled, profitable, AI-enabled healthcare technology platform. Today, we are emerging with a cleaner capital structure, stronger cash flow, and a clear path toward long-term shareholder value creation.”
Since issuing its first preferred shares in 2015, CareCloud has:
- Grown revenue from approximately $23 million to approximately $130 million expected in 2026.
- Completed more than 20 acquisitions;
- Expanded to serve more than 45,000 healthcare providers; and
- Achieved its first full year of positive GAAP net income in 2025.
These results reflect a high-quality, recurring-revenue platform with approximately $30 million in annualized adjusted EBITDA expected during 2026, expanding margins driven by automation and AI, and a streamlined capital structure that no longer carries the dividend drag of preferred equity.
CareCloud also announced that it maintains a $60 million At-The-Market (“ATM”) equity facility with Citizens Bank, providing the Company with substantial strategic flexibility to pursue future growth opportunities. Management intends to utilize the ATM opportunistically only at or above $5.00 per share — the price at which CareCloud completed its initial public offering — as the Company continues to scale its profitable, cash-generative healthcare technology platform. The Company views the ATM as a capital-efficient tool to access growth capital when strategically advantageous, not as a source of required liquidity.
“With the full redemption of our Series B Preferred Stock now complete and our capital structure significantly simplified, CareCloud is entering its next chapter as a profitable, cash-generative healthcare technology company,” added Snyder. “We believe we are exceptionally well-positioned to accelerate growth, expand margins through AI and automation, and continue building long-term value for our shareholders.”
About CareCloud
CareCloud brings disciplined innovation to the business of healthcare. The Company’s suite of AI and technology-enabled solutions helps healthcare organizations increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 45,000 providers rely on CareCloud’s solutions and services across revenue cycle management, practice management, electronic health records, patient experience management, business intelligence and digital health.
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For additional information, please visit our website at carecloud.com. To listen to video presentations by CareCloud’s management team, read recent press releases and view the latest investor presentation, please visit ir.carecloud.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future growth, profitability, acquisition opportunities, use of the ATM facility, AI initiatives, and future shareholder value creation. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Please refer to the Company’s filings with the Securities and Exchange Commission for additional information regarding these risks and uncertainties.
SOURCE: CareCloud
Company Contact:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
[email protected]
Investor Contact:
Stephen Snyder
Chief Executive Officer
CareCloud, Inc.
[email protected]