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Veradigm (MDRX) investor relations material
Veradigm Investor Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Financial performance and outlook
Q2 2025 estimated revenue is $145–$148 million, down 2% year-over-year at the midpoint; year-to-date revenue is down 1% at the midpoint.
Recurring revenue remains strong at 79% of total, consistent with the prior year.
Provider segment revenue in Q2 is $115–$117 million, down 3% at the midpoint, with declines in ERP and clearinghouse offset by EHR growth.
Payer and life sciences revenue in Q2 is $30–$31 million, up 3% at the midpoint, with growth in clinical data exchange and gap closure products.
2025 revenue is expected to remain flat versus 2024’s estimated $583–$588 million, with a continued net cash positive position.
Capital structure and liquidity
As of June 30, 2025, debt was $283 million and cash was $350 million, up $78 million from March 31, 2025.
Major cash inflows included $72 million from new debt and $23 million from investment sales; outflows included $7 million CapEx and $10 million operating activities.
Completed two major repurchases of convertible notes totaling $230 million in July and September 2025.
Pro forma for note repayments, debt as of September 30, 2025, is $75 million, and cash would have been $121 million as of June 30, 2025.
Net cash pro forma as of June 30, 2025, is $46 million.
Progress on SEC filings and relisting
Audits for 2023 and 2024 are underway, following the restated 2022 10-K filed in March 2024.
Material weaknesses are being remediated with new controls and processes.
Current SEC filing status is anticipated during 2026, with plans to relist common stock thereafter.
The relisting process is seen as an opportunity to improve systems, strategy, and operational discipline.
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