Medical Transcription Billing Corp (NASDAQ:MTBC)

Medical Transcription Billing Corp (NASDAQ:MTBC)’s Net Loss

Medical Transcription Billing Corp (NASDAQ:MTBC)

Shares of Medical Transcription Billing Corp (NASDAQ:MTBC) fell 24.56% after the provider of cloud-based healthcare IT solutions reported Q3 financial results that showed a net loss for the first nine months of the year. However, the company reported a 50% revenue increase for the same period.

Medical Transcription Billing Corp (NASDAQ:MTBC)

Revenue Growth

According to the Chief Executive Officer, Mahmud Haq, revenue growth for the first nine months of the year set the company on course for record annual revenue. In additional to revenue growth, Medical Transcription Billing Corp (NASDAQ:MTBC)’s balance sheet received a boost in the quarter.

“Since our last earnings call, we fully repaid the balance of our $10 million credit facility with Opus Bank (“Opus”) two years prior to the original maturity date, paid Prudential the remaining $5 million plus interest owed for the MediGain acquisition, and raised capital in a way that didn’t dilute our common shareholders,” said Mr. Haq.

Medical Transcription Billing Corp (NASDAQ:MTBC) is still trading in an uptrend despite losing nearly a quarter of its total market value. For the full year, the stock is up by more than 200%. Monday’s sell-off could be a minor correction pending a major move on the upside.

For the Three months ended September 30, 2017, Medical Transcription Billing Corp generated revenues of $7.5 million, representing a 41% year-over-year increase. The company attributes the increase to the MediGain acquisition. Revenue for the first nine months came in at $23.5 million.

Net Loss

Net loss stood at (-$980,000) an improvement from a net loss of (-$1.7) million reported in the second quarter.

“The $714,000 improvement in our GAAP net loss from last quarter was due to a $780,000 reduction in amortization expense,” said Bill Korn, MTBC Chief Financial Officer. Net loss for the first nine months of the year increased to ($5.4) million from (-$4.8) million.

Medical Transcription Billing Corp (NASDAQ:MTBC) attributes the wider than expected net loss to non-cash amortization and depreciation expense of $3.6 million. The company also incurred restructuring charges in relation to the closing of offices in Poland and Bangalore, India and shifting of teams in Pakistan and Sri Lanka.

Medical Transcription Billing Corp (NASDAQ:MTBC) exited the third quarter with $2.8 million in cash and positive working capital, representing $5 million improvement.

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.

Don’t miss out! Stay informed on $MTBC and receive breaking news on other hot stocks by signing up for our free newsletter!

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.

Market Awaits Medical Transcription Billing Corp (NASDAQ:MTBC) Earnings

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)

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 Stock

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.

Don’t miss out! Stay informed on $MTBC and receive breaking news on other hot stocks by signing up for our free newsletter!

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.

Medical Transcription Billing Corp (NASDAQ:MTBC)

Why Medical Transcription Billing Corp (NASDAQ:MTBC) Boomed

Medical Transcription Billing Corp (NASDAQ:MTBC)

Shares of Medical Transcription Billing Corp (NASDAQ:MTBC) more than doubled in value after the provider of health and cloud-based clinical and practice management solutions announced the launch of talkEHR. The stock was up by 109% as the company confirmed the signing of customers in 42 states for the next generation electronic health records solution.

MTBC 200% Rally

Tuesday’s rally capped an impressive run as Medical Transcription Billing Corp (NASDAQ:MTBC) continues to trade in an uptrend. MTBC is up by more than 200% for the year and is outperforming the overall industry. It awaits to be seen if the stock will continue to rise as it closes in on its 52-week high of $3.84 a share.

Medical Transcription Billing Corp (NASDAQ:MTBC)

Investor confidence on the stock has strengthened in recent days on reports that talkEHR continues to receive an overwhelming positive response from physicians. The next generation SaaS HER solution is designed to utilize natural language processing and artificial intelligence to automate key components of patient charting. The platform also provides solutions for electronic claims submission, electronic prescriptions, and appointment scheduling.

Medical Transcription Billing Corp (NASDAQ:MTBC) is currently offering the software at no charge. However, users who wish to upgrade to full-service package will have to pay the company 2.95% of physician’s revenues.

“We’re very pleased to have already signed new talkEHR clients representing 30 unique specialties, spanning across 42 states plus Guam and Puerto Rico. talkEHR is a phenomenal addition to our fully integrated, industry leading, cloud-based and mobile platform and we expect it to play an important role as we continue to expand our customer base,” said Karl Johnson SVP Sales and Marketing.

Debt Repayment

Separately, Medical Transcription Billing Corp (NASDAQ:MTBC) has made the final payment of $5 million for the acquisition of New Jersey-based medical billing company MediGain. The payout follows the settlement of the company’s debt with Opus Bank.

Medical Transcription Billing Corp (NASDAQ:MTBC) got funds for the repayment of the debt and the MediGain transaction from the issuance of 240,000 shares of convertible Series A preferred stock. The company generated gross proceeds of $6 million from the offering.

According to MTBC president, Stephen Snyder, repayment of the two transactions combined with year over year growth leaves the company well positioned for continued growth.

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.

Don’t miss out! Stay informed on $MTBC and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Medical Transcription Billing Corp (NASDAQ:MTBC)

Medical Transcription Billing Corp (NASDAQ:MTBC) Stock Price Jumps ahead of Earnings

Medical Transcription Billing Corp (NASDAQ:MTBC)

Medical Transcription Billing Corp (NASDAQ:MTBC) shareholders are enjoying a jump in their stock price of over 30% for the week. The movement in the stock price is likely due to an upward revision in the company’s revenue guidance for the year coupled with their Q2 financial release scheduled for tomorrow before the market opens. Volume for MTBC shares are on pace to exceed seven times their daily average. MTBC stock price chart:

Medical Transcription Billing Corp (NASDAQ:MTBC)
Candlebar stock price chart for MTBC

Before the July 27th announcement, management of Medical Transcription Billing Corp (NASDAQ:MTBC) provided revenue guidance for FY 2017 between $30 – $31 million. That guidance was revised on the 27th and is now pegged between $31 – $32 million. Those revised figures represent a 27% – 31% increase over FY 2016 figures.

Mahmud Haq, MTBC’s Chairman and CEO stated in the press release “We’re very pleased to see our revenue growth outpace our initial full year revenue guidance. Having also achieved our highest adjusted EBITDA as a public company during the second quarter of 2017, we anticipate a remarkable year of achievement for MTBC.”

Medical Transcription Billing Corp (NASDAQ:MTBC) shareholders have had a stellar run with the company. Over the past year, the stock price is up over 53% and is up over 120% YTD. Currently MTBC stock is trading just below $2 or over 500% its 52-week low of $0.29. Importantly, the stock has reached a Relative Strength Index figure of over 72. That level is normally associated with a stock that is overbought.

Medical Transcription Billing Corp (NASDAQ:MTBC) management will host a conference call at 8:30 a.m. EDT on Thursday, August 3, 2017, to discuss the first half 2017 results. The live webcast of the conference call can be accessed under Events & Presentations at ir.mtbc.com or by dialing 412-317-5131 and referencing “MTBC Second Quarter 2017 Earnings Call.” A replay of the conference call will be available approximately one hour after conclusion of the call at the same link. An audio replay can also be accessed by dialing 412-317-0088 and providing access code 10110213.

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.

Don’t miss out! Stay informed on $MTBC and receive breaking news on other hot stocks by signing up for our free newsletter!

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.

Medical Transcription Billing Corp (NASDAQ:MTBC) Explodes On 60% Revenue Growth And Healthcare Compliance Deal

Medical Transcription Billing Corp (NASDAQ:MTBC)

Medical Transcription Billing Corp (NASDAQ:MTBC) continues to post higher highs in the market days after announcing 60% year-over-year revenue growth. Investors also appear to be taking positions in the stock, on the company announcement of a new partnership with Healthcare Compliance Network LLC  – likely seen as another value-generating pathway.

MTBC-Healthcare Compliance Deal

Healthcare Compliance Network is a provider of compliance solutions mostly targeting hospitals and dispensaries in the US. Buoyed by the partnership Medical Transcription Billing Corp (NASDAQ:MTBC) senior vice president for of sales and marketing, Karl Johnson, says they will work together in coordinating marketing efforts as part of an effort that seeks to add value to each other’s service offerings.

“As a company that’s committed to compliance and industry leading revenue cycle management solutions, MTBC is a great fit for our customers. There are great synergies between our respective solutions and we look forward to working together,” said Wiks Moffat, Healthcare Compliance Principal.

While the partnership marks yet another milestone for the provider of cloud-based health care IT solutions fuelling interest in the stock is the fact that Medical Transcription Billing Corp (NASDAQ:MTBC) revenue appears to be growing faster than initially thought.

For the three months ending March 31, 2017, MTBC says its revenue, according to an unaudited report, should come in at $8.2 million. This would represent a 60% year over year increase, something that seems to have taken Wall Street by storm. The provider of health and cloud-based healthcare IT solutions also says its net loss and non-GAAP loss for the first quarter was significantly reduced compared to the fourth quarter.

Buoyed by the first quarter results, Chef executive officer, Mahmud Haq, remains confident of the company meeting its full year guidance. For the full year, the company expects revenue to be in the highs of $30 million. EBITDA, on the other hand, should come in at between $2 and $2.5 million. Last year Medical Transcription Billing Corp (NASDAQ:MTBC) posted revenues of $24.5 million representing a 6% growth from 2015.

Fuelling growth in revenue according to the chief executive is the company’s organic sales initiatives as well as acquisitions made over the past year.

Medical Transcription Billing Corp (NASDAQ:MTBC) is currently trading at highs of $1.22 share having rallied by 205% in Wednesday trading session. The big question now is whether the stock will be able to maintain the upward momentum ahead of the release of audited report.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.