Medical Transcription Billing Corp (NASDAQ:MTBC)
Medical Transcription Billing Corp (NASDAQ:MTBC) is scheduled to release their Q3 earnings report today before the market opens. In August, the company placed its full year 2017 guidance at $31 to $32 million. That level of revenue represents a 27% to 31% growth over 2016 revenue. The company expects 2017 adjusted EBITDA to be $2.0 to $2.5 million.
Medical Transcription Billing Corp (NASDAQ:MTBC) is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. Their platform is designed to help customers increase revenues, streamline workflows, and make better business and clinical decisions.
MTBC shares have gained over 450% year-to-date and almost 50% in just the last month. That has pushed MTBC stock from its 52-week low of $0.29, to its 52-week high, achieved in October, of $5.44.
During that time, the company repaid its debt. To pay off that debt, Medical Transcription Billing Corp (NASDAQ:MTBC) issued $7.9 million worth of Series A Preferred Stock. The move worked, according to observers, as revenues have exceeded cash operating expenses since May 2017.
Over the years, MTBC has not been able to transform annual increases in sales to profits. In 2012, the per share profit was just $0.01. Annual per share losses followed of (-$0.02), (-$0.64), (-$0.46), and, for 2016, (-$0.95).
However, sales did increase year on year. In 2012, sales were reported at $10 million. That annual figure was followed by annual figures of $10.5 million, $18.3 million, 23.1 million, and in 2016, $24.5 million.
It should be noted that the company has quite a number of short-sellers betting against it. As of November 3, 2017, over 15% of the stock’s float was being held in a short position.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.