CompaniesCCLD
Overview
CCLD
CareCloud
HealthcareHealthTechRCMDeep Value
$2.30+4.5%
Market Cap
$98M
SEC 10-K / Q1 2026 10-Q
P/E (TTM)
17.7×
via financials
Rev Growth YoY
13.2%
+13.2%SEC filing
Gross Margin
47.0%
SEC filing
FCF Yield
22.1%
calculated
Upside to FV
+165.2%
vs fair value
Conviction
3/5Healthcare-IT (RCM/EHR + CirrusAI) at 0.8× EV/revenue and a verified 22% FCF yield, Piotroski F-Score 8 — offset by a March 2026 cyber breach.
Research Depth
ScreeningDeep DiveFull Model
Updated 13d ago
Thesis
CareCloud provides revenue-cycle-management, EHR and AI (CirrusAI) software to 45,000+ healthcare providers. It screens as absurdly cheap for healthcare IT — 0.8× EV/revenue vs 3–5× for peers — with a verified 22% FCF yield and a Piotroski F-Score of 8. FY2025 revenue was $120.5M (+9%), Q1 2026 $31.3M (+13% YoY), and FY2026 guidance is $128–132M revenue / $29–31M adj EBITDA / $0.20–0.23 EPS (~9× forward P/E). The offsetting overhang is a March 2026 cybersecurity breach now under investigation. Phase 1.
Bull Case
Valuation0.8× EV/revenue vs 3–5× peers; ~22% FCF yield (verified); ~9× forward P/E and ~4× EV/FCF.
QualityPiotroski F-Score 8; first profitable year; FY2026 guide $128–132M revenue, $29–31M adj EBITDA.
AI / M&ACirrusAI (ambient docs, decision support, AI front desk handling ~75% of calls) plus Medsphere acquisition (~600 hospitals).
Bear Case
Cyber BreachMarch 16, 2026 unauthorized access; Big-Four investigation, 2 class actions, HIPAA fine risk.
Dilution62% dilution in Mar 2025 (Series A conversion); founder Mahmud Haq controls ~40.8% of common; ~$40M Series B preferred at 8.75%.
Offshore / Liquidity3,300 of 3,700 employees in Pakistan/Sri Lanka (geopolitical risk); ~$98M micro-cap illiquidity.
Key Metrics
Market Cap
$98M
SEC 10-K / Q1 2026 10-Q
Enterprise Value
$100M
calculated
Revenue (TTM)
$121M
SEC filing
P/E (TTM)
17.7×
via financials
Forward P/E
5.5×
consensus
P/S (TTM)
0.8×
via financials
P/B
1.7×
via financials
EV/EBITDA
6.0×
calculated
PEG
—
calculated
Revenue Growth
13.2%
SEC filing
Gross Margin
47.0%
SEC filing
Operating Margin
3.4%
SEC filing
Net Margin
7.9%
SEC filing
Free Cash Flow
$24M
SEC filing
FCF Yield
22.1%
calculated
Debt / Equity
[awaiting: filing]
SEC filing
Current Ratio
1.1×
SEC filing
Short Interest
1.1%
exchange
Institutional Own.
28.8%
13F
Insider Own.
15.1%
proxy
Shares Out.
160.0M
SEC filing
Float
120.0M
exchange
Valuation
Price vs Fair Value
Bear$3.00
Base$5.00
Bull$8.00
Now $2.30
Bear Case
$3.00
Breach fallout + dilution; multiple stays compressed
Base Case
$5.00
Guidance holds; re-rate toward median analyst target (~120% upside)
Bull Case
$8.00
Top of analyst range; CirrusAI + Medsphere scale, breach resolves
DCF Summary
DCF awaiting Phase 2+
Discounted cash-flow model is built once research reaches Deep Dive.
Historical Multiples
Multiple history pending
This section is being deepened.
Peer Comparison
Peer set pending
Comparable companies awaiting selection.
Financials
Income statement pending
Awaiting SEC filing backfill.
Balance sheet pending
Awaiting SEC filing backfill.
Cash flow pending
Awaiting SEC filing backfill.
Phase 1 — full backfill pending; headline figures verified vs filings. Near-zero net debt (~$3.4M cash, ~$5.7M debt).
Catalysts
Q3 '26
Earnings
Q2 2026 earnings
Track FY26 guidance ($128–132M rev) and adj-EBITDA execution.
2026
Legalhigh relevance
Cyber-breach investigation resolution
Big-Four investigation and class actions; HIPAA fine exposure is the key overhang.
Risks
| Risk | Category | Severity | Probability | Impact on Thesis |
|---|---|---|---|---|
| March 2026 cybersecurity breach | Regulatory | High | High | Unauthorized access under Big-Four investigation; 2 class actions; HIPAA fine risk. |
| Aggressive dilution / founder control | Key Person | High | Medium | 62% dilution Mar 2025 via Series A conversion; founder controls ~40.8% of common. |
| Offshore workforce concentration | Market/Macro | Medium | Medium | ~90% of employees in Pakistan/Sri Lanka — geopolitical exposure. |
| Micro-cap illiquidity | Market/Macro | Medium | Medium | ~$98M market cap; thin trading amplifies volatility. |
Technical Snapshot
52-Week Range
$2.05$2.30$4.01
RSI (14)
42
neutral
50-Day MA
$2.50
-8.0%below
200-Day MA
$2.90
-20.7%below
Avg Vol (30d)
0.5M
-5%vs average
Support Levels
$2.05$1.80
Resistance Levels
$3.00$4.01
Price path reconstructed from the 52-week range, current price, and 50/200-day moving averages — connect a live market-data feed for production.
Ownership & Insider Activity
Top Institutional Holders via 13F filings
13F holdings pending
Institutional holder detail awaiting filing.
Insider Activity
Founder Mahmud Haq controls ~40.8% of common; insiders ~15.1%, institutions ~28.8%. Short interest ~1.1%.
Insider transactions pending
This section is being deepened.
Peer Comparison
Peer set pending
Comparable companies awaiting selection.
Research Notes
2026-06-03Consensus
Cheap healthcare IT with a breach overhang
0.8× EV/revenue vs peers 3–5×; 22% FCF yield and F-Score 8 verified; ~9× forward P/E. The March 2026 cyber breach is the gating risk. Analyst median target $5.00 (~120% upside).