CareCloud (CCLD) valuation at a glance
CareCloud (CCLD) trades below the fair value estimate shown here. At $2.30 versus a $5.00 estimate, that is a 117% upside.
- Price
- $2.30
- Fair value estimate
- $5.00
- Upside
- +117%
- Forward P/E
- 5.5×
- Market cap
- $98M
- P/S (TTM)
- 0.8×
CompaniesCCLD
CCLD
CareCloud
HealthcareHealthTechRCMDeep Value
Overview
$2.30+4.5%
Market Cap
$98M
SEC filings
P/E (TTM)
17.7×
SEC filings
Rev Growth YoY
13.2%
+13.2%SEC filings
Gross Margin
47.0%
SEC filings
FCF Yield
–
Calculated from SEC filings
Upside to FV
+117.4%
consensus
Conviction
1/5Healthcare-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 ResearchFull Model
Data as of 2026-06-03
Quality Snowflake
Overall 68/100
Value4/4
Future2/3
Past4/4
Health3/4
Dividend0/1
Each axis scores the checks for which data is available (filled = pass, hollow = no data). Computed from the sourced metrics on this page, not a third-party rating.
Thesis
UNDER REVISION, 2 September 2026. This page published a share count of 160 million against the 42,493,859 that SEC reports on the cover of the Form 10-Q for the quarter ended 30 June 2026, and a float figure of 120,000,000, which exceeds the shares outstanding and cannot be right. Its own market capitalisation of $98M reconciles to the correct count rather than the one it published. Every per-share figure here is therefore unreliable and the conviction rating has been reduced to the floor pending a rebuild. ORIGINAL TEXT FOLLOWS. 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 filings
Enterprise Value
$100M
Calculated from SEC filings
Revenue (TTM)
$121M
SEC filings
P/E (TTM)
17.7×
SEC filings
Forward P/E
5.5×
consensus
P/S (TTM)
0.8×
SEC filings
P/B
1.7×
SEC filings
EV/EBITDA
6.0×
Calculated from SEC filings
PEG
–
Calculated from SEC filings
Revenue Growth
13.2%
SEC filings
Gross Margin
47.0%
SEC filings
Operating Margin
9.4%
SEC filings
Net Margin
7.9%
SEC filings
Free Cash Flow
$24M
SEC filings
FCF Yield
–
Calculated from SEC filings
Debt / Equity
0.1×
SEC filings
Current Ratio
1.1×
SEC filings
Short Interest
1.1%
SEC filings
Institutional Own.
28.8%
SEC filings
Insider Own.
15.1%
SEC filings
Shares Out.
42.5M
SEC filings
Float
36.1M
SEC filings
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
Cash-Flow Snapshot
FCF (TTM)
$22M
FCF Yield
22.0%
Balance Sheet
$2M net debt
Rev CAGR
-5%
Free cash flow and balance sheet from SEC filings. A full multi-scenario DCF is built at the deep-research stage; the fair-value range above is the working estimate until then.
Historical Multiples
| Year | P/E | P/S | EV/EBITDA |
|---|---|---|---|
| FY22 | 7.9× | 0.3× | 2.0× |
| FY23 | – | 0.2× | – |
| FY24 | 7.6× | 0.5× | 2.3× |
| FY25 | 11.5× | 1.0× | 4.4× |
| TTM · | 17.2× | 0.8× | 6.1× |
Current multiple highlighted vs trailing history.
Peer Comparison
| Ticker | Mkt Cap | P/E | P/S | EV/EBITDA | Rev Growth | Gross Mgn | Net Mgn |
|---|---|---|---|---|---|---|---|
| CCLD | $95M | 17.2× | 0.8× | 6.1× | +13.0% | 47.0% | 8.0% |
| HSTM | $756M | 38.6× | 2.4× | 16.7× | +10.0% | 65.0% | 6.0% |
| OMCL | $1.82B | 86.9× | 1.5× | 24.2× | +15.0% | 44.0% | 2.0% |
| PGNY | $2.11B | 34.9× | 1.6× | 17.4× | +1.0% | 24.0% | 5.0% |
| PINC | $4.15B | 295.4× | – | – | – | – | – |
| CERT | $810M | – | 1.9× | 10.3× | +1.0% | 62.0% | -4.0% |
Financials
| Line Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Total Revenue | 138.8 | 117.1 | 110.8 | 120.5 |
| Cost of Revenue | 84.4 | 70.8 | 60.8 | 64.5 |
| Gross Profit | 54.4 | 46.2 | 50.0 | 56.0 |
| Operating Income | 4.7 | (4.0) | 9.7 | 11.5 |
| EBITDA | 21.6 | (30.8) | 25.4 | 28.3 |
| Net Income | 5.4 | (48.7) | 7.9 | 10.8 |
| Diluted EPS | -0.67 | -4.11 | -0.28 | 0.10 |
| Line Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash & Equivalents | 12.3 | 3.3 | 5.1 | 3.1 |
| Total Assets | 136.2 | 77.8 | 71.6 | 87.6 |
| Total Debt | 13.8 | 14.7 | 3.5 | 4.3 |
| Total Liabilities | 34.5 | 36.1 | 21.8 | 28.1 |
| Shareholders' Equity | 101.7 | 41.7 | 49.8 | 59.5 |
| Shares Out. (M) | 15.2 | 15.9 | 16.3 | 42.4 |
| Line Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Operating Cash Flow | 21.2 | 15.5 | 20.6 | 28.6 |
| Capital Expenditure | (11.8) | (11.6) | (7.4) | (8.0) |
| Free Cash Flow | 9.4 | 3.8 | 13.2 | 20.5 |
| Investing Cash Flow | (11.8) | (11.6) | (7.4) | (24.5) |
| Financing Cash Flow | (7.7) | (13.3) | (11.3) | (5.6) |
Figures normalized from CareCloud, Inc.'s SEC 10-K filed 2026-03-12. USD millions; EPS and share count per their units. Annual periods. Source: 10-K filed 2026-03-12 ↗
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
Technical inputs: SEC filings. See the record-specific source notes for measurement basis.
Ownership & Insider Activity
Institutional Holders
| Institution | Shares | % Held | Chg QoQ | Reported |
|---|---|---|---|---|
| Vanguard Capital Management LLC | 1.5M | 3.47% | +100% | 2026-03-31 |
| Hillsdale Investment Management Inc. | 805K | 1.89% | flat | 2026-03-31 |
| American Century Companies Inc | 740K | 1.74% | +61% | 2026-03-31 |
| Essex Investment Management Co LLC | 698K | 1.64% | +1.9% | 2026-03-31 |
| Ameriprise Financial, Inc. | 684K | 1.61% | -47.7% | 2026-03-31 |
| Renaissance Technologies, LLC | 472K | 1.11% | +5.9% | 2026-03-31 |
| Geode Capital Management, LLC | 442K | 1.04% | +11.2% | 2026-03-31 |
Insider Activity
Founder Mahmud Haq controls ~40.8% of common; insiders ~15.1%, institutions ~28.8%. Short interest ~1.1%.
| Name | Title | Action | Shares | Price | Date | Value |
|---|---|---|---|---|---|---|
| Daly John N | Director | Sell | 15K | $3.41 | 2025-11-10 | $51.1K |
Additional issuer disclosures: SEC EDGAR company filings. Availability and filing forms vary by issuer.
Peer Comparison
| Ticker | Mkt Cap | P/E | P/S | EV/EBITDA | Rev Growth | Gross Mgn | Net Mgn |
|---|---|---|---|---|---|---|---|
| CCLD | $95M | 17.2× | 0.8× | 6.1× | +13.0% | 47.0% | 8.0% |
| HSTM | $756M | 38.6× | 2.4× | 16.7× | +10.0% | 65.0% | 6.0% |
| OMCL | $1.82B | 86.9× | 1.5× | 24.2× | +15.0% | 44.0% | 2.0% |
| PGNY | $2.11B | 34.9× | 1.6× | 17.4× | +1.0% | 24.0% | 5.0% |
| PINC | $4.15B | 295.4× | – | – | – | – | – |
| CERT | $810M | – | 1.9× | 10.3× | +1.0% | 62.0% | -4.0% |
Recognizable sector comparables. Source basis: SEC filings; lowest multiple in each column highlighted. Loss-making peers show no P/E.
Research Notes
2026-09-02Recomputed from SEC XBRL company facts
The operating margin was the March quarter, not the year
The revenue on this page, $120.5M, is the year to 31 December 2025 and matches the filings to 0.00%. Operating income on that year is $11,343 thousand, an operating margin of 9.4%. The published 3.4% is the quarter ended 31 March 2026 on its own, $1,000 thousand of operating income on $31,270 thousand of revenue, which is 3.2% as reported and 3.4% on the normalised basis the backfill layer carried. The business looks materially more profitable on the year than the page said, and a reader should also know the direction, since the March 2026 quarter really did run at roughly a third of the full year margin.
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).
Sources
CareCloud valuation questions
Is CareCloud (CCLD) stock undervalued?
Against the fair value estimate shown on this page, CareCloud trades below: $2.30 today versus a $5.00 estimate, about +117%. The methodology and per-scenario sources are set out in the Valuation section. Treat it as research, not advice, and do your own homework.
What is CareCloud's fair value?
The fair value estimate shown for CCLD is $5.00. Its valuation scenarios span bear $3.00, base $5.00, bull $8.00. See the Valuation section for the basis of each.
What is CareCloud's forward P/E ratio?
CareCloud (CCLD) trades at a forward P/E of 5.5×, and 0.8× trailing sales.
What is CareCloud's market cap?
CareCloud (CCLD) has a market capitalization (its market value, often searched as "net worth") of $98M, and an enterprise value of $100M.
What is the bull and bear case for CCLD?
Valuation scenarios: bull $8.00, base $5.00, bear $3.00. Each reflects a distinct set of assumptions; the drivers and sources are detailed in the Valuation section above.