CareCloud, Inc. (NASDAQ:CCLD) Q3 2023 Earnings Call Transcript

The results will keep on improving. This should be able to diagnose or treat those diseases much earlier than they would have. So from the business standpoint, so one is the adaptability, we need to make sure that the doctors and the users understand and realise the importance of such features so we are turning it on at least for now until the end of the year for your cost. There won’t be any charge. It will be a risk-free trail. The clients can start using it get accustomed to it. And then entering it to the next year, we have a plan to start pricing it out on the license basis. We will announce the price once that gets finalized. And of course, the second thing is the marketing positioning the marketability of our product. If you look at our competitors I think all the competitors everyone is trying to come up with some solutions.

So this is the — at the high level and any further questions I get I’ll be happy to even connect with you offline to explain further.

Jeffrey Cohen: Thank you, Hadi. That’s helpful. And lastly for us could you give us a sense of your OUS business now and give us a sense of, what you may anticipate going forward on the growth or aggregate revenue for OUS?

Hadi Chaudhry: Okay. So you’re probably referring to our Middle East, the Middle East opportunity that we are focusing on. So we are making continuous progress. And for this year as — even on the last call, I mentioned our goal is to at least being able to sign at least a contract or few contracts and recognize some revenue into the next year. We will incorporate that include that when we issued the guidance for the next year. On the next earnings call, but in terms of our progress if you think about it on the UAE side there are a number of steps. One is incorporating the entity we have completed that. Second thing is getting the license to conduct the business in different categories, so we have completed that. Third step is on-boarding at least the management employees and certifying them so they should be able to transact the business in the UAE.

So we are in this third process. On the other side two other fronts. One, we are actively working on at least three one large and two smaller opportunities there. And on our technical side — IT side they have to make sure that our product certified to the local requirements such as making sure the data stays within the UAE. And secondly, once we have a client we have to start working with authorities to get the EHR and the different other items off the platform certified. I hope that answers the question.

Jeffrey Cohen: Yes. Perfect. Thanks for taking for our questions.

Hadi Chaudhry: Thank you, Jeff.

Operator: Next question comes from Neil Chatterji with B Riley. Please go ahead.

Neil Chatterji: Hi. Good morning and thanks for taking our questions. Just maybe some quarters maybe just wanted to just see if you talk more about any seasonality might have seen in 3Q and what kind of — gives you the confidence and I guess that kind of the sequential ramper strength until fourth quarter with reaffirming the full year guidance was there any MEDSR projects impact that might have shifted from 3Q to 4Q?

Larry Steenvoorden: Yeah, Neil, it’s Larry. Thanks for the question as we look at Q3 to Q4, the Q3 seems now really similar to Q3 of last year getting a bigger impact just year-over-year comparison with the two large health system mergers that we’ve achieved for couple of key factors. One certainly is the professional services MEDSR. Really great developments there on some of the contract wins, also with our press release about the credentialing and the revenue that we’re going to start to recognize a portion of that — Q4, so we reiterated our full year guidance.

Nathalie Garcia: Can you hear?

Larry Steenvoorden: Yes. Sorry I wasn’t certainly done.

Hadi Chaudhry: It looks likes the phone went off.