TruBridge, Inc.TBRG
TruBridge, Inc. Segments Disclosure
SEGMENT REPORTING
Our chief operating decision maker (“CODM”) utilizes two operating segments, “Financial Health” and “Patient Care,” based on our two distinct business units with unique market dynamics and opportunities. These two segments are distinct business units with unique market dynamics and opportunities. They represent the components of the Company for which separate financial information is available and is utilized on a regular basis by the CODM in assessing segment performance and in allocating the Company's resources.
The Company’s CODM is its Chief Executive Officer. The CODM uses revenues and Adjusted EBITDA to assess the performance of and allocated resources to each of the reportable segments during the annual budgeting and forecasting process. The significant expenses regularly reviewed by the CODM include costs of revenues, product development, sales and marketing, and general and administrative expenses. Monthly, the CODM considers forecast-to-actual variances for each of revenues and Adjusted EBITDA to assess the performance for each segment. The CODM believes Adjusted EBITDA is a useful measure to assess the performance and liquidity of the Company, as it provides meaningful operating results by excluding the effects of expenses that are not reflective of the Company’s operating business performance. Accounting policies for each of the reportable segments are the same as those used on a consolidated basis.
“Adjusted EBITDA” consists of GAAP net income (loss) as reported and adjusts for (i) depreciation expense; (ii) amortization of software development costs; (iii) amortization of acquisition-related intangible assets; (iv) stock-based compensation; (v) severance and other non-recurring charges; (vi) interest expense and other income, net; (vii) impairment of goodwill; (viii) impairment of trademark intangibles; (ix) change of fair value of contingent consideration; (x) (gain) loss on disposal of property and equipment; (xi) gain on sale of AHT; and (xii) the provision (benefit) for income taxes. There are no intersegment revenues to be eliminated in computing segment revenue.
The CODM does not evaluate operating segments nor make decisions regarding operating segments based on assets. Consequently, we do not disclose total assets by reportable segment.
The following table presents a summary of the revenues and Adjusted EBITDA of our two operating segments for the years ended December 31, 2025, 2024, and 2023:
| Year Ended December 31, | |||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Revenues: | |||||||||||||||||
| Financial Health | $ | 221,657 | $ | 217,366 | $ | 193,334 | |||||||||||
| Patient Care | 125,179 | 124,839 | 143,630 | ||||||||||||||
| Total consolidated revenues | 346,836 | 342,205 | 336,964 | ||||||||||||||
| Less: | |||||||||||||||||
| Financial Health expenses (excluding stock-based compensation expense): | |||||||||||||||||
| Cost of revenue (excluding depreciation and amortization) | $ | 113,101 | $ | 116,342 | $ | 108,187 | |||||||||||
| Product development | 12,681 | 8,644 | 9,985 | ||||||||||||||
| Sales and marketing | 14,278 | 15,855 | 16,715 | ||||||||||||||
| General and administrative expenses | 41,619 | 39,680 | 34,008 | ||||||||||||||
| Total Financial Health expenses | $ | 181,679 | $ | 180,521 | $ | 168,895 | |||||||||||
| Patient Care expenses (excluding stock-based compensation expense): | |||||||||||||||||
| Cost of revenue (excluding depreciation and amortization) | $ | 48,319 | $ | 51,857 | $ | 65,122 | |||||||||||
| Product development | 18,675 | 25,898 | 28,836 | ||||||||||||||
| Sales and marketing | 8,108 | 9,354 | 10,823 | ||||||||||||||
| General and administrative expenses | 21,386 | 18,676 | 18,941 | ||||||||||||||
| Total Patient Care expenses | $ | 96,488 | $ | 105,785 | $ | 123,722 | |||||||||||
| Total segment expenses | $ | 278,167 | $ | 286,306 | $ | 292,617 | |||||||||||
| Adjusted EBITDA by Segment: | |||||||||||||||||
| Financial Health | 39,978 | 36,845 | 24,439 | ||||||||||||||
| Patient Care | 28,691 | 19,054 | 19,908 | ||||||||||||||
| Total Adjusted EBITDA | $ | 68,669 | $ | 55,899 | $ | 44,347 | |||||||||||
The following table reconciles Adjusted EBITDA to income (loss) before taxes:
| Year Ended December 31, | |||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Total Adjusted EBITDA | $ | 68,669 | $ | 55,899 | $ | 44,347 | |||||||||||
| Less: | |||||||||||||||||
| Interest expense and other, net | 12,136 | 15,517 | 11,659 | ||||||||||||||
| Depreciation expense | 1,092 | 1,346 | 1,946 | ||||||||||||||
| Amortization of software development costs | 12,995 | 14,715 | 7,951 | ||||||||||||||
| Amortization of acquisition-related intangibles | 12,190 | 12,505 | 16,426 | ||||||||||||||
| Stock-based compensation | 8,661 | 5,520 | 3,271 | ||||||||||||||
| Severance and other non-recurring charges | 12,899 | 15,442 | 22,186 | ||||||||||||||
| Impairment of goodwill | — | — | 35,913 | ||||||||||||||
| Impairment of trademark intangibles | — | — | 2,342 | ||||||||||||||
| Change in fair value of contingent consideration | 5,000 | (1,044) | — | ||||||||||||||
| (Gain) loss on disposal of property and equipment | (120) | 3,895 | 117 | ||||||||||||||
| Gain on sale of AHT | (53) | (1,529) | — | ||||||||||||||
| Income (loss) before taxes | $ | 3,869 | $ | (10,468) | $ | (57,464) | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Mar 17, 2025 | |
| 2023 | Mar 15, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Mar 15, 2022 | |
| 2020 | Mar 12, 2021 | |
| 2019 | Mar 11, 2020 | |
| 2018 | Mar 18, 2019 | |
| 2017 | Mar 14, 2018 | |
| 2016 | Mar 15, 2017 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.