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Sun Oct 25 · markets closed1 signal on Oct 2494 insider buys this week · $48.3MCIRO short report next: Oct 30The week ahead

CCLD

CareCloud, Inc.
NASDAQ · TECHNOLOGY · SERVICES-PREPACKAGED SOFTWARE
1.77
+0.00 +0.00%
USD · close Oct 23
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MKT CAP $75.2MP/E 29.5DIV YIELD —FCF YIELD 30.31%REV TTM $128.6M +15.1%NET INCOME $8M −29.1%NET CASH $9.6M52W 1.77 – 3.81SEC XBRL · TTM TO Invalid Date

How CCLD rewrote its risk factors

10-K ITEM 1A · FY2024 → FY2025
Text kept
69%
of sentences unchanged
Added
120
new sentences
Dropped
105
sentences removed
Length
+629
words, now 19,013

New in FY2025

  • Risk Factors Risks Related to Our Business The continued success of our business model is heavily dependent upon our offshore operations, and any disruption to those operations will adversely affect us.
  • In addition, changes in U.S. or foreign sanctions, export controls, or cross-border data transfer requirements could restrict our ability to operate or to deliver services from our offshore locations, increase compliance costs, or require costly migration to alternative delivery models.
  • We believe that the labor costs in our Offshore Offices are approximately 15% - 17% of the cost of comparably educated and skilled workers in the U.S.
  • We use and plan to expand our use of artificial intelligence, and challenges associated with the development, deployment and regulation of AI technologies could adversely affect our business, reputation and results of operations.
  • We currently incorporate, and plan to further expand the use of, artificial intelligence (“AI”) technologies across our products, services and internal operations.
  • AI is a rapidly evolving technology and its use presents significant technical, operational, legal, regulatory, compliance, cybersecurity, privacy and reputational risks.
  • AI technologies are probabilistic in nature and may produce inaccurate, incomplete or misleading outputs, reflect or amplify unintended biases, or result in discriminatory or otherwise adverse outcomes.
  • If our AI-enabled products or services are perceived to be deficient, unreliable, biased or otherwise flawed, our reputation, customer relationships, competitive position and business could be materially adversely affected, and customers may delay adoption of, reduce reliance on, or discontinue use of our solutions.
  • The use of AI also increases the risk of cybersecurity incidents and unauthorized access to, disclosure of, or misuse of sensitive information, including Protected Health Information (“PHI”) and other personal or proprietary data.
  • Failures in our governance, controls or safeguards relating to AI could result in violations of applicable privacy, security and healthcare laws and regulations, contractual obligations or industry standards, including those applicable to certified health IT products, and could expose us to regulatory enforcement actions, litigation, significant remediation costs, contractual liability and reputational harm.
  • Our AI initiatives may rely on third-party technologies, tools, data sources or open-source components, over which we have limited control.
  • In addition, the legal and regulatory framework governing AI is rapidly evolving and uncertain.
  • New or existing laws and regulations may increase our compliance costs, require changes to our products or business practices, delay or limit deployment of AI-enabled solutions, or expose us to additional liability.
  • Further, our competitors may adopt AI technologies more quickly or more successfully than we do, and market demand for AI-enabled healthcare solutions remains uncertain.
  • If we are unable to effectively develop, govern and deploy AI technologies, our business, financial condition and results of operations could be materially adversely affected.
  • We may not be successful in our artificial intelligence initiatives, which could adversely affect our business, reputation, or financial results.
  • We have made, and expect to continue to make, investments to integrate AI into our products and update our products to enable our customers to use Al for insights, digital experiences, and applications, as well as to use Al to enhance our own engineering and business operations.
  • Such integration and use of AI may become more important in our product offerings and operations over time.
  • Our AI efforts may not be successful and our competitors or other third parties may incorporate AI into their offerings more successfully and efficiently than we do and achieve greater and faster adoption, which could impair our ability to compete effectively and adversely affect our business and financial results.
  • In addition, given the rapidly developing nature of Al, we may fail to adequately adopt and adapt to technological advancements, which may have a negative impact on our product development capabilities and adversely affect our business and financial results.
  • We operate in a highly competitive industry, and our competitors may be able to compete more efficiently or evolve more rapidly than we do, which could have a material adverse effect on our business, revenue, growth rates and market share.
  • In order to operate more efficiently, control costs and improve profitability, we incurred $154,000 and $606,000 of restructuring costs in 2025 and 2024, respectively, primarily consisting of severance and separation costs associated with the optimization of the Company’s operations and profitability improvements.
  • If we cannot adapt to changing technologies and industry standards, including changing requirements of third-party applications and software and meeting the requirements of our customers, our products and services may become obsolete, and our business would suffer significantly.
  • Many factors may lead to decreases in customer revenue, including: ● reduction of customer revenue as a result of changes to the Patient Protection and Affordable Care Act (“ACA”), other legislation or fluctuations in medical appointments due to future pandemics; ● a rollback of the expansion of Medicaid or other governmental programs; ● reduction of customer revenue resulting from increased competition or other changes in the marketplace for physician services; ● failure of our customers to adopt or maintain effective business practices; ● actions by third-party payers of medical claims to reduce reimbursement; ● government regulations and government or other payer actions or inactions reducing or delaying reimbursement; ● interruption of customer access to our system; and ● our failure to provide services in a timely or high-quality manner.
  • If the federal government were to impose a tax on services performed abroad, we might be subject to additional liabilities.
  • If we lose the services of Mahmud Haq as Executive Chairman, Stephen Snyder as Chief Executive Officer, A.
  • Hadi Chaudhry as Chief Strategy Officer, or other members of our management team, or if we are unable to attract, hire, integrate and retain other necessary employees, our business would be harmed.
  • In particular, we are dependent on the services of Mahmud Haq, our founder, principal stockholder and Executive Chairman, Stephen Snyder as Chief Executive Officer and A.
  • Hadi Chaudhry as Chief Strategy Officer.
  • We maintain our cash at domestic and foreign financial institutions.
  • Balances held domestically may exceed federally insured limits.
  • Foreign banking institutions do not provide bank deposit insurance.
  • The financial markets recently have encountered volatility associated with concerns about the balance sheets of domestic banks, especially small and regional banks who may have significant losses associated with investments that make it difficult to fund demands to withdraw deposits and other liquidity needs.
  • Foreign banking institutions do not provide insurance against balances held there.
  • We cannot predict if or when a future goodwill impairment may occur.
  • For the year ended December 31, 2025, no additional goodwill impairment was recorded.
  • See Note 4 , Goodwill and Intangible Assets - Net , to our consolidated financial statements in this Annual Report We are a party to several related-party agreements with our founder and Executive Chairman, Mahmud Haq, which have significant contractual obligations.
  • We have no unconditional commitments with respect to any acquisition as of the date of this Annual Report on Form 10-K.
  • Depending on the type of business we acquire (e.g., RCM, practice management, EHR, etc.), we may have varying cost saving and/or cross-selling opportunities with the acquired business.
  • At the current price of our common stock, we may be unable to execute accretive acquisitions.

and 80 more.

Gone since FY2024

  • Risk Factors Risks Related to Our Business We operate in a highly competitive industry, and our competitors may be able to compete more efficiently or evolve more rapidly than we do, which could have a material adverse effect on our business, revenue, growth rates and market share.
  • In order to operate more efficiently, control costs and improve profitability, we incurred $606,000 and $645,000 of restructuring costs in 2024 and 2023, respectively, primarily consisting of severance and separation costs associated with the optimization of the Company’s operations and profitability improvements.
  • We expect to incur approximately an additional $100,000 of restructuring costs in 2025.
  • If we cannot adapt to changing technologies and industry standards, including changing requirements of third-party applications and software and meet the requirements of our customers, our products and services may become obsolete, and our business would suffer significantly.
  • The continued success of our business model is heavily dependent upon our offshore operations, and any disruption to those operations will adversely affect us.
  • We believe that the labor costs in our Offshore Offices are approximately 15% of the cost of comparably educated and skilled workers in the U.S.
  • Many factors may lead to decreases in customer revenue, including: ● reduction of customer revenue as a result of changes to the Patient Protection and Affordable Care Act (“ACA”) or fluctuations in medical appointments due to future pandemics; ● a rollback of the expansion of Medicaid or other governmental programs; ● reduction of customer revenue resulting from increased competition or other changes in the marketplace for physician services; ● failure of our customers to adopt or maintain effective business practices; ● actions by third-party payers of medical claims to reduce reimbursement; ● government regulations and government or other payer actions or inactions reducing or delaying reimbursement; ● interruption of customer access to our system; and ● our failure to provide services in a timely or high-quality manner.
  • If the federal government were to impose a tax on imports or services performed abroad, we might be subject to additional liabilities.
  • If we lose the services of Mahmud Haq as Executive Chairman, A.
  • Hadi Chaudhry and Stephen Snyder as Co-Chief Executive Officers, or other members of our management team, or if we are unable to attract, hire, integrate and retain other necessary employees, our business would be harmed.
  • In particular, we are dependent on the services of Mahmud Haq, our founder, principal stockholder and Executive Chairman, and A.
  • Hadi Chaudhry and Stephen Snyder as Co-Chief Executive Officers.
  • We may not be able to negotiate a credit facility at reasonable terms as the current credit facility expires in October 2025.
  • Our $10 million credit facility with Silicon Valley Bank, a division of First Citizens Bank, (“SVB”) expires in October 2025.
  • The Company believes it will be able to enter into a new credit facility that will provide sufficient liquidity at favorable terms either with SVB or another lending institution.
  • However, negotiations have not yet started, and we may not be able to obtain a credit facility that provides sufficient liquidity at favorable terms.
  • We maintain our cash at financial institutions, often in balances that exceed federally insured limits.
  • The financial markets recently have encountered volatility associated with concerns about the balance sheets of banks, especially small and regional banks who may have significant losses associated with investments that make it difficult to fund demands to withdraw deposits and other liquidity needs.
  • There was a triggering event at August 31, 2023, but it was determined that there was no impairment.
  • We cannot predict if or when additional future goodwill impairments may occur.
  • For the year ended December 31, 2024, no additional goodwill impairment was recorded.
  • See Note 3, Goodwill and Intangible Assets - Net , to our consolidated financial statements in this Annual Report on Form 10-K for more details.
  • We are a party to several related-party agreements with our founder and Executive Chairman, Mahmud Haq, which have significant contractual obligations.
  • We use artificial intelligence in our business, and challenges with properly managing its use could result in reputational and competitive harm, legal liability, and adversely affect our results of operations.
  • We currently incorporate artificial intelligence (“AI”) solutions into our intelligent cloud products, and these applications will become important in our operations over time.
  • Our competitors or other third parties may incorporate AI into their products and offerings quicker or more successfully than us, which could impair our ability to compete effectively and adversely affect our results of operations.
  • Additionally, if the content, analyses, or recommendations that AI applications assist in producing are, or are alleged to be inaccurate, deficient, or biased, our business, financial condition, and results of operations may be adversely affected.
  • The use of AI applications has resulted in, and may in the future result in, cybersecurity incidents that implicate the sensitive data of customers analyzed within such applications.
  • Any such cybersecurity incidents related to our use of AI applications for analysis of sensitive data could adversely affect our reputation and results of operations.
  • AI also presents emerging ethical issues and if our use of AI becomes controversial, we may experience brand or reputational harm, competitive harm, or legal liability.
  • The rapid evolution of AI, including potential government regulation of AI and its various uses will require significant resources to develop, test and maintain our intelligence cloud platform, offerings, services, and features to help us implement AI ethically in order to minimize any unintended, harmful impact.
  • We have no unconditional commitments with respect to any acquisition as of the date of this Form 10-K.
  • Depending on the type of businesses we acquire (e.g., RCM, practice management, EHR, etc.), we may have varying cost saving and/or cross-selling opportunities with the acquired business.
  • At the current prices of our common and Preferred Stock, we may be unable to execute accretive acquisitions.
  • Historically we have used our common and Preferred Stock to pay in part for acquisitions.
  • Due to the lower market prices of these securities, we may not be able to use these securities to execute future acquisitions.
  • Regulatory Risks The healthcare industry is heavily regulated.
  • The Office of Inspector General (“OIG”) of the Department of Health and Human Services (“HHS”) has a longstanding concern that percentage-based billing arrangements may increase the risk of improper billing practices.
  • The federal Anti-Kickback Statute (“AKS”) prohibits us from knowingly and willfully soliciting, receiving, offering or providing remuneration in exchange for referrals or recommendations for purposes of selling products or services which are paid for by federal healthcare programs such as Medicare and Medicaid.
  • In addition, a claim including products or services resulting from a violation of AKS constitutes a violation of the federal False Claims Act (“FCA”).

and 65 more.

Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.

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