TruBridge (TBRG) Q1 2026 earnings summary

Executive summary

• Entered into a definitive merger agreement with Inventurus Knowledge Solutions, Inc. (IKS) to be acquired for $26.25 per share in cash, with closing expected in Q3 2026 pending customary conditions and approvals.

• No conference call or webcast for Q1 2026 results due to the pending acquisition.

• Revenue for Q1 2026 was $86.3 million, down 1% year-over-year; net income remained flat at $0.5 million ($0.03 per share).

• Financial Health segment revenues declined 5% due to customer attrition, while Patient Care segment revenues grew 6% driven by SaaS contracts and migrations.

• Adjusted EBITDA decreased 10% to $16.5 million, with Financial Health Adjusted EBITDA down 32% and Patient Care up 27%.

Financial highlights

• Total revenues: $86.3 million (Q1 2026), down from $87.2 million (Q1 2025); recurring revenue comprised 94% of total revenue.

• Net income: $0.5 million, unchanged year-over-year; Non-GAAP net income rose to $8.5 million from $5.2 million.

• Adjusted EBITDA was $16.5 million, down from $18.2 million year-over-year; margin was 19.1%.

• Cash and cash equivalents at quarter-end: $35.4 million, up from $24.9 million at year-end 2025.

• Cash flow from operations increased to $15.5 million from $5.8 million year-over-year.

Outlook and guidance

• Management expects continued growth in recurring revenues, especially from SaaS contracts.

• Ongoing margin optimization initiatives and cost containment measures are expected to support profitability.

• The pending merger may impact future operations and strategic direction.

• Acquisition by IKS Health expected to close in Q3 2026, subject to customary conditions and approvals.