# EDGAR Filing Document

**Accession Number:** 0001169445
**File Stem:** 0001169445-25-000077
**Filing Date:** 2025-11
**Character Count:** 295554
**Document Hash:** 8a2c6f3b803fddf4bee39d40fa7624bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001169445-25-000077.hdr.sgml**: 20251107

**ACCESSION NUMBER**: 0001169445-25-000077

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 95

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251107

**DATE AS OF CHANGE**: 20251107

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TruBridge, Inc.
- **CENTRAL INDEX KEY:** 0001169445
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 743032373
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41992
- **FILM NUMBER:** 251461511

**BUSINESS ADDRESS:**
- **STREET 1:** 54 ST. EMANUEL STREET
- **CITY:** MOBILE
- **STATE:** AL
- **ZIP:** 36602
- **BUSINESS PHONE:** (251) 639-8100

**MAIL ADDRESS:**
- **STREET 1:** 54 ST. EMANUEL STREET
- **CITY:** MOBILE
- **STATE:** AL
- **ZIP:** 36602

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COMPUTER PROGRAMS & SYSTEMS INC
- **DATE OF NAME CHANGE:** 20020319

?xml version='1.0' encoding='ASCII'? tbrg-20250930

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 10-Q**

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the quarterly period ended September 30, 2025**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**Commission file number: 001-41992**

**TRUBRIDGE, INC.**

**(Exact Name of Registrant as Specified in Its Charter)**

---

| | |
|:---|:---|
| **Delaware** | **74-3032373** |
| **(State or Other Jurisdiction of**<br>**Incorporation or Organization)** | **(I.R.S. Employer**<br>**Identification No.)** |
| **54 St. Emanuel Street, Mobile, Alabama** | **36602** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**(251) 639-8100**

**(Registrant's Telephone Number, Including Area Code)**

**N/A**

**(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)**

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading symbol</u> | <u>Name of each exchange on which registered</u> |
| Common Stock, par value $.001 per share | TBRG | The NASDAQ Stock Market LLC |

---

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes 🗷&nbsp;&nbsp;&nbsp;&nbsp;No ◻

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes 🗷&nbsp;&nbsp;&nbsp;&nbsp;No ◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ◻ | Accelerated filer | 🗷 |
| Non-accelerated filer | ◻ | Smaller reporting company | ☒ |
| Emerging growth company | ☐ | | |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ◻ |

---

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No 🗷

As of November 4, 2025, there were 15,008,986 shares of the issuer's common stock outstanding.

------

**TRUBRIDGE, INC.**

**Quarterly Report on Form 10-Q**

**(For the three and nine months ended September 30, 2025)**

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| **<u>[PART I. FINANCIAL INFORMATION](#i326458001bd5410fa125cb732ada7e26_10)</u>** | **<u>[PART I. FINANCIAL INFORMATION](#i326458001bd5410fa125cb732ada7e26_10)</u>** | **<u>[PART I. FINANCIAL INFORMATION](#i326458001bd5410fa125cb732ada7e26_10)</u>** |
| Item 1. | <u>[Financial Statements](#i326458001bd5410fa125cb732ada7e26_13)</u> | <u>[3](#i326458001bd5410fa125cb732ada7e26_13)</u> |
|  | <u>[Condensed Consolidated Balance Sheets (Unaudited) –](#i326458001bd5410fa125cb732ada7e26_16)[September](#i326458001bd5410fa125cb732ada7e26_16)[30, 2025 and December 31, 2024](#i326458001bd5410fa125cb732ada7e26_16)</u> | <u>[3](#i326458001bd5410fa125cb732ada7e26_16)</u> |
|  | <u>[Condensed Consolidated Statements of Operations (Unaudited) – Three and](#i326458001bd5410fa125cb732ada7e26_19)[Nine](#i326458001bd5410fa125cb732ada7e26_19)[Months Ended](#i326458001bd5410fa125cb732ada7e26_19)[September](#i326458001bd5410fa125cb732ada7e26_19)[30, 2025](#i326458001bd5410fa125cb732ada7e26_19)[and 2024](#i326458001bd5410fa125cb732ada7e26_19)</u> | <u>[4](#i326458001bd5410fa125cb732ada7e26_19)</u> |
|  | <u>[Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - Three and](#i326458001bd5410fa125cb732ada7e26_22)[Nine](#i326458001bd5410fa125cb732ada7e26_22)[Months Ended](#i326458001bd5410fa125cb732ada7e26_22)[September](#i326458001bd5410fa125cb732ada7e26_22)[30, 2025 and 2024](#i326458001bd5410fa125cb732ada7e26_22)</u> | <u>[5](#i326458001bd5410fa125cb732ada7e26_22)</u> |
|  | <u>[Condensed Consolidated Statements of Stockholders' Equity (Unaudited) – Three and](#i326458001bd5410fa125cb732ada7e26_25)[Nine](#i326458001bd5410fa125cb732ada7e26_25)[Months Ended](#i326458001bd5410fa125cb732ada7e26_25)[September](#i326458001bd5410fa125cb732ada7e26_25)[30, 2025 and 2024](#i326458001bd5410fa125cb732ada7e26_25)</u> | <u>[6](#i326458001bd5410fa125cb732ada7e26_25)</u> |
|  | <u>[Condensed Consolidated Statements of Cash Flows (Unaudited) –](#i326458001bd5410fa125cb732ada7e26_28)[Nine](#i326458001bd5410fa125cb732ada7e26_28)[Months Ended](#i326458001bd5410fa125cb732ada7e26_28)[September](#i326458001bd5410fa125cb732ada7e26_28)[30, 2025 and 2024](#i326458001bd5410fa125cb732ada7e26_28)</u> | <u>[7](#i326458001bd5410fa125cb732ada7e26_28)</u> |
|  | <u>[Notes to Condensed Consolidated Financial Statements (Unaudited)](#i326458001bd5410fa125cb732ada7e26_31)</u> | <u>[8](#i326458001bd5410fa125cb732ada7e26_31)</u> |
| Item 2. | <u>[Management's Discussion and Analysis of Financial Condition and Results of Operations](#i326458001bd5410fa125cb732ada7e26_94)</u> | <u>[30](#i326458001bd5410fa125cb732ada7e26_94)</u> |
| Item 3. | <u>[Quantitative and Qualitative Disclosures about Market Risk](#i326458001bd5410fa125cb732ada7e26_97)</u> | <u>[43](#i326458001bd5410fa125cb732ada7e26_97)</u> |
| Item 4. | <u>[Controls and Procedures](#i326458001bd5410fa125cb732ada7e26_100)</u> | <u>[44](#i326458001bd5410fa125cb732ada7e26_100)</u> |
| **<u>[PART II. OTHER INFORMATION](#i326458001bd5410fa125cb732ada7e26_103)</u>** | **<u>[PART II. OTHER INFORMATION](#i326458001bd5410fa125cb732ada7e26_103)</u>** | **<u>[PART II. OTHER INFORMATION](#i326458001bd5410fa125cb732ada7e26_103)</u>** |
| Item 1. | <u>[Legal Proceedings](#i326458001bd5410fa125cb732ada7e26_106)</u> | <u>[46](#i326458001bd5410fa125cb732ada7e26_106)</u> |
| Item 1A. | <u>[Risk Factors](#i326458001bd5410fa125cb732ada7e26_109)</u> | <u>[46](#i326458001bd5410fa125cb732ada7e26_109)</u> |
| Item 2. | <u>[Unregistered Sales of Equity Securities and Use of Proceeds](#i326458001bd5410fa125cb732ada7e26_112)</u> | <u>[48](#i326458001bd5410fa125cb732ada7e26_112)</u> |
| Item 3. | <u>[Defaults Upon Senior Securities](#i326458001bd5410fa125cb732ada7e26_115)</u> | <u>[48](#i326458001bd5410fa125cb732ada7e26_115)</u> |
| Item 4. | <u>[Mine Safety Disclosures](#i326458001bd5410fa125cb732ada7e26_118)</u> | <u>[48](#i326458001bd5410fa125cb732ada7e26_118)</u> |
| Item 5. | <u>[Other Information](#i326458001bd5410fa125cb732ada7e26_121)</u> | <u>[48](#i326458001bd5410fa125cb732ada7e26_121)</u> |
| Item 6. | <u>[Exhibits](#i326458001bd5410fa125cb732ada7e26_124)</u> | <u>[50](#i326458001bd5410fa125cb732ada7e26_124)</u> |

---

------

**PART I**

**FINANCIAL INFORMATION**

---

| | |
|:---|:---|
| **Item 1.** | **Financial Statements.** |

---

**TRUBRIDGE, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS** 

**(In thousands, except per share data)**

**(Unaudited)** 

---

| | | |
|:---|:---|:---|
| | September 30,<br>2025 | December 31, 2024 |
| **Assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $19920 | $12324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net of allowance for credit losses of $4,911 and $5,861 | 56771 | 53753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of financing receivables, net of allowance for credit losses of $565 and $417 | 2961 | 4663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 351 | 767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid income taxes | 8602 | 2886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 13521 | 15275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets held for sale | 445 | 606 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 102571 | 90274 |
| &nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net | 2204 | 2294 |
| &nbsp;&nbsp;&nbsp;&nbsp;Software development costs, net | 44226 | 41474 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease right-of-use assets | 2391 | 3092 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financing receivables, less current portion, net of allowance for credit losses of $233 and $21 | 64 | 232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets, less current portion | 7820 | 7786 |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible assets, net | 67563 | 76707 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 172573 | 172573 |
| Total assets | $399412 | $394432 |
| **Liabilities and Stockholders' Equity** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $20238 | $15040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt | 2980 | 2980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 8197 | 10653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued vacation | 5091 | 4770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable | 798 | 3538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other accrued liabilities | 16445 | 15994 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 53749 | 52975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt, less current portion | 161363 | 168598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities, less current portion | 1588 | 2293 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax liabilities | 2354 | 1871 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 219054 | 225737 |
| Commitments and contingencies (<u>[Note 15](#i326458001bd5410fa125cb732ada7e26_82)</u>) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.001 par value; 30,000 shares authorized; 15,690 shares issued at September 30, 2025 and 15,522 shares issued at December 31, 2024 | 15 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 206164 | 201066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (6311) | (14952) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive (loss) income | (91) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury stock, 689 shares at September 30, 2025 and 619 shares at December 31, 2024 | (19419) | (17479) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 180358 | 168695 |
| Total liabilities and stockholders' equity | $399412 | $394432 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**TRUBRIDGE, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** 

**(In thousands, except per share data)**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| | 2025 | 2024 | 2025 | 2024 |
| **Revenues** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $54501 | $54672 | $164918 | $162620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 31605 | 30028 | 94125 | 91796 |
| Total revenues | 86106 | 84700 | 259043 | 254416 |
| **Expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Costs of revenues (exclusive of amortization and depreciation) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Health | 29335 | 29185 | 85835 | 89051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 12713 | 13184 | 36996 | 38421 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total costs of revenues (exclusive of amortization and depreciation) | 42048 | 42369 | 122831 | 127472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product development | 8171 | 7735 | 24530 | 26629 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 5673 | 5944 | 19123 | 20351 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 19416 | 19376 | 56957 | 57651 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | 6487 | 6183 | 18901 | 21158 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 243 | 279 | 846 | 1079 |
| Total expenses | 82038 | 81886 | 243188 | 254340 |
| Operating income | 4068 | 2814 | 15855 | 76 |
| **Other (expense) income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (3003) | (4033) | (9450) | (12348) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (expense) | 287 | (376) | 566 | 1139 |
| Total other expense | (2716) | (4409) | (8884) | (11209) |
| Income (loss) before taxes | 1352 | (1595) | 6971 | (11133) |
| (Benefit from) provision for income taxes | (4250) | 7553 | (1670) | 4257 |
| Net income (loss) | $5602 | $(9148) | $8641 | $(15390) |
| Net income (loss) per common share—basic | $0.37 | $(0.61) | $0.58 | $(1.04) |
| Net income (loss) per common share—diluted | $0.37 | $(0.61) | $0.58 | $(1.04) |
| Weighted average shares outstanding used in per common share computations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 14527 | 14323 | 14474 | 14290 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 14527 | 14323 | 14474 | 14290 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**TRUBRIDGE, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)**

**(In thousands)**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| | 2025 | 2024 | 2025 | 2024 |
| Net income (loss) | $5602 | $(9148) | $8641 | $(15390) |
| Other comprehensive (loss) income: |  |  |  |  |
| &nbsp;&nbsp;Foreign currency translation adjustment | (118) | (1) | (136) | 107 |
| Comprehensive income (loss) | $5484 | $(9149) | $8505 | $(15283) |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**TRUBRIDGE, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY** 

**(In thousands)**

**(Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | Common Stock | Common Stock | Additional Paid-in-Capital | Accumulated Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Stockholders' Equity |
| | Common Stock | Common Stock | Additional Paid-in-Capital | Accumulated Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Stockholders' Equity |
| | Shares | Amount | Additional Paid-in-Capital | Accumulated Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Stockholders' Equity |
| Three Months Ended September 30, 2025 and 2024: |  |  |  |  |  |  |  |
| Balance at June 30, 2025 | 15700 | $15 | $204376 | $(11913) | $27 | $(19332) | $173173 |
| Net income |  |  |  | 5602 |  |  | 5602 |
| Foreign currency translation adjustment |  |  |  |  | (118) |  | (118) |
| Forfeiture of restricted stock | (10) |  |  |  |  |  |  |
| Stock-based compensation |  |  | 1788 |  |  |  | 1788 |
| Treasury stock acquired |  |  |  |  |  | (87) | (87) |
| Balance at September 30, 2025 | 15690 | $15 | $206164 | $(6311) | $(91) | $(19419) | $180358 |
| Balance at June 30, 2024 | 15561 | $15 | $197846 | $(755) | $108 | $(17434) | $179780 |
| Net loss |  |  |  | (9148) |  |  | (9148) |
| Foreign currency translation adjustment |  |  |  |  | (1) |  | (1) |
| Issuance of restricted stock | 2 |  |  |  |  |  |  |
| Forfeiture of restricted stock | (17) |  |  |  |  |  |  |
| Stock-based compensation |  |  | 1398 |  |  |  | 1398 |
| Treasury stock acquired |  |  |  |  |  | (43) | (43) |
| Balance at September 30, 2024 | 15546 | $15 | $199244 | $(9903) | $107 | $(17477) | $171986 |
| Nine Months Ended September 30, 2025 and 2024: |  |  |  |  |  |  |  |
| Balance at December 31, 2024 | 15522 | $15 | $201066 | $(14952) | $45 | $(17479) | $168695 |
| Net income |  |  |  | 8641 |  |  | 8641 |
| Foreign currency translation adjustment |  |  |  |  | (136) |  | (136) |
| Issuance of restricted stock | 198 |  |  |  |  |  |  |
| Forfeiture of restricted stock | (30) |  |  |  |  |  |  |
| Stock-based compensation |  |  | 5098 |  |  |  | 5098 |
| Treasury stock acquired |  |  |  |  |  | (1940) | (1940) |
| Balance at September 30, 2025 | 15690 | $15 | $206164 | $(6311) | $(91) | $(19419) | $180358 |
| Balance at December 31, 2023 | 15121 | $15 | $195546 | $5487 | $— | $(17075) | $183973 |
| Net loss |  |  |  | (15390) |  |  | (15390) |
| Foreign currency translation adjustment |  |  |  |  | 107 |  | 107 |
| Issuance of restricted stock | 497 |  |  |  |  |  |  |
| Forfeiture of restricted stock | (72) |  |  |  |  |  |  |
| Stock-based compensation |  |  | 3698 |  |  |  | 3698 |
| Treasury stock acquired |  |  |  |  |  | (402) | (402) |
| Balance at September 30, 2024 | 15546 | $15 | $199244 | $(9903) | $107 | $(17477) | $171986 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**TRUBRIDGE, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS** 

**(In thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | Nine Months Ended September 30, | Nine Months Ended September 30, |
| | 2025 | 2024 |
| **Operating Activities:** |  |  |
| Net income (loss) | $8641 | $(15390) |
| Adjustments to net income (loss): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 1629 | 1046 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes | 481 | 915 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 5098 | 3698 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 846 | 1079 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of business | (53) | (1221) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 9144 | 9379 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of software development costs | 9757 | 11779 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred finance costs | 390 | 320 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of contingent consideration |  | (1044) |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash operating lease costs | 791 | 1879 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on disposal of property and equipment | (120) | 1648 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (4317) | 336 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financing receivables | 1570 | (129) |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 416 | (449) |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (810) | 3228 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 5648 | 3925 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | (2456) | 2162 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | (807) | (1415) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 712 | (189) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes, net | (8453) | 282 |
| Net cash provided by operating activities | 28107 | 21839 |
| **Investing Activities:** |  |  |
| Purchase of business, net of cash and cash equivalents acquired |  | (664) |
| Sale of business, net of cash and cash equivalents sold | 2102 | 21410 |
| Investment in software development | (12509) | (13666) |
| Proceeds from sale of property and equipment | 300 |  |
| Purchase of property and equipment | (839) | (1277) |
| Net cash (used in) provided by investing activities | (10946) | 5803 |
| **Financing Activities:** |  |  |
| Payments of long-term debt principal | (2625) | (6625) |
| Proceeds from revolving line of credit | 15368 | 23765 |
| Payments of revolving line of credit | (20368) | (39072) |
| Debt issuance costs |  | (529) |
| Treasury stock purchases | (1940) | (402) |
| Net cash used in financing activities | (9565) | (22863) |
| Increase in cash and cash equivalents | 7596 | 4779 |
| Change in cash and cash equivalents included in assets sold |  | (41) |
| Cash and cash equivalents at beginning of period | 12324 | 3848 |
| Cash and cash equivalents at end of period | $19920 | $8586 |
| **Supplemental disclosure of cash flow information:** |  |  |
| Cash paid for interest | $9489 | $12330 |
| Cash paid for income taxes | $6304 | $3060 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**TRUBRIDGE, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS** 

**(Unaudited)**

**1. &nbsp;&nbsp;&nbsp;&nbsp;BASIS OF PRESENTATION** 

***Basis of Presentation***

The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") and include all adjustments that, in the opinion of management, are necessary for a fair presentation of the results of the periods presented. All such adjustments are considered of a normal recurring nature. Quarterly results of operations are not necessarily indicative of annual results.

Certain footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") have been condensed or omitted. The condensed consolidated balance sheet as of December 31, 2024 was derived from the audited consolidated balance sheet at that date. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements of TruBridge, Inc. ("TruBridge" or the "Company") for the year ended December 31, 2024 and the notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

*Unbilled Accounts Receivable* 

Unbilled accounts receivable represents services performed but not billed and are included as accounts receivable on the condensed consolidated balance sheets. The Company had $18.0 million and $15.4 million at September 30, 2025 and December 31, 2024, respectively.

*Reportable Segments Presentation Changes*

In May 2024, the Company realigned its reporting structure due to certain organizational changes. As a result, the Company changed from three reportable segments of (i) Revenue Cycle Management ("RCM"), (ii) Electronic Health Records ("EHR"), and (iii) Patient Engagement to two reportable segments of (i) RCM and (ii) EHR. The Patient Engagement segment results have been transitioned into the EHR segment. As part of the realignment, the reportable segment naming convention was updated. The previously reported RCM segment has been updated to Financial Health, and the former EHR segment has been updated to Patient Care. The change is intended to improve connectivity and alignment between the two business units to better serve our clients and more accurately reflect how the Company's management views and operates the business. All prior segment information has been recast to reflect the Company's new segment structure and current period presentation. Refer to Note 17 - Segment Reporting for more information.

*Revision of Previously Issued Financial Statements*

During the year ended December 31, 2024, the Company reversed revenue from customers that was recognized improperly during the prior year. The Company assessed the materiality of this error on the prior period consolidated financial statements in accordance with the SEC Staff Accounting Bulletin No. 108, "*Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements.*" In its assessment, the Company concluded based on quantitative and qualitative analysis that this error was not material to the Company's consolidated financial statements for the 2023 fiscal year or any interim periods therein.

------

Accordingly, the Company made corrections, as disclosed in the table below, to the condensed consolidated financial statements for the three months ended September 30, 2024:

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| | | | |
|:---|:---|:---|:---|
| *(In thousands, except per share data)* | **As previously reported** | **Impact of revision** | **As adjusted** |
| **Condensed Consolidated Statement of Operations** |  |  |  |
| &nbsp;&nbsp;Revenue: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $54271 | $401 | $54672 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 29559 | 469 | 30028 |
| &nbsp;&nbsp;Total revenue | $83830 | $870 | $84700 |
| &nbsp;&nbsp;Operating income | 1944 | 870 | 2814 |
| &nbsp;&nbsp;Income (loss) before taxes | (2465) | 870 | (1595) |
| &nbsp;&nbsp;Provision for income taxes | 7344 | 209 | 7553 |
| &nbsp;&nbsp;Net income (loss) | (9809) | 661 | (9148) |
| &nbsp;&nbsp;Net income (loss) per share - basic | $(0.66) | $0.05 | (0.61) |
| &nbsp;&nbsp;Net income (loss) per share - diluted | $(0.66) | $0.05 | (0.61) |
| **Condensed Consolidated Statement of Comprehensive Income (Loss)** |  |  |  |
| &nbsp;&nbsp;Net income (loss) | $(9809) | $661 | $(9148) |
| &nbsp;&nbsp;Comprehensive income (loss) | (9810) | 661 | (9149) |
| **Condensed Consolidated Statement of Equity** |  |  |  |
| &nbsp;&nbsp;Accumulated earnings (deficit) at June 30, 2024 | $567 | $(1322) | $(755) |
| &nbsp;&nbsp;Total stockholders' equity at June 30, 2024 | 181102 | (1322) | 179780 |
| &nbsp;&nbsp;Net income (loss) | (9809) | 661 | (9148) |
| &nbsp;&nbsp;Accumulated earnings (deficit) at September 30, 2024 | (9242) | (661) | (9903) |
| &nbsp;&nbsp;Total stockholders' equity at September 30, 2024 | 172647 | (661) | 171986 |

---

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The Company made corrections, as disclosed in the table below, to the condensed consolidated financial statements for the nine months ended September 30, 2024:

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| | | | |
|:---|:---|:---|:---|
| *(In thousands, except per share data)* | **As previously reported** | **Impact of revision** | **As adjusted** |
| **Condensed Consolidated Statement of Operations** |  |  |  |
| &nbsp;&nbsp;Revenue: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $161417 | $1203 | $162620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 90389 | 1407 | 91796 |
| &nbsp;&nbsp;Total revenue | $251806 | $2610 | $254416 |
| &nbsp;&nbsp;Operating income (loss) | (2534) | 2610 | 76 |
| &nbsp;&nbsp;Income (loss) before taxes | (13743) | 2610 | (11133) |
| &nbsp;&nbsp;Provision for (benefit from) income taxes | 3631 | 626 | 4257 |
| &nbsp;&nbsp;Net income (loss) | (17374) | 1984 | (15390) |
| &nbsp;&nbsp;Net income (loss) per share - basic | $(1.17) | $0.13 | (1.04) |
| &nbsp;&nbsp;Net income (loss) per share - diluted | $(1.17) | $0.13 | (1.04) |
| **Condensed Consolidated Statement of Comprehensive Income (Loss)** |  |  |  |
| &nbsp;&nbsp;Net income (loss) | $(17374) | $1984 | $(15390) |
| &nbsp;&nbsp;Comprehensive income (loss) | (17267) | 1984 | (15283) |
| **Condensed Consolidated Statement of Equity** |  |  |  |
| &nbsp;&nbsp;Accumulated earnings (deficit) at December 31, 2023 | $8132 | $(2645) | $5487 |
| &nbsp;&nbsp;Total stockholders' equity at December 31, 2023 | 186618 | (2645) | 183973 |
| &nbsp;&nbsp;Net income (loss) | (17374) | 1984 | (15390) |
| &nbsp;&nbsp;Accumulated earnings (deficit) at September 30, 2024 | (9242) | (661) | (9903) |
| &nbsp;&nbsp;Total stockholders' equity at September 30, 2024 | 172647 | (661) | 171986 |
| **Condensed Consolidated Statement of Cash Flows** |  |  |  |
| &nbsp;&nbsp;Net income (loss) | $(17374) | $1984 | $(15390) |
| &nbsp;&nbsp;Accounts receivable | 2946 | (2610) | 336 |
| &nbsp;&nbsp;Income taxes, net | (344) | 626 | 282 |

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***Principles of Consolidation***

The condensed consolidated financial statements of TruBridge include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. Our fiscal year ends on December 31, while certain foreign subsidiaries maintain a fiscal year ending on March 31 to facilitate the timely consolidation of financial information. The difference in fiscal year-ends does not exceed three months. Adjustments are made for the effects of significant transactions or events that occur during the intervening three-month period that materially affect the consolidated financial position or results of operations.

***Subsequent Events***

The Company has evaluated subsequent events through November 7, 2025, the date these condensed consolidated financial statements were issued. The Company concluded that no subsequent events have occurred that would require recognition or disclosure in the condensed consolidated financial statements other than what has been disclosed in these condensed consolidated financial statements and accompanying notes.

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**2. &nbsp;&nbsp;&nbsp;&nbsp;RECENT ACCOUNTING PRONOUNCEMENTS**

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2023-09, *"Income Taxes (Topic 740): Improvements to Income Tax Disclosures"* ("ASU 2023-09"), which requires public entities to provide disclosure of disaggregated information in the entity's tax rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09 and will adopt the standard effective for the annual period ending December 31, 2025.

In November 2024, the FASB issued ASU 2024-03, "*Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses"* ("ASU 2024-03"), which requires additional disclosure of certain costs and expenses within the notes to the financial statements. The new standard is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The new standard is to be applied on a prospective basis, but retrospective application is permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.

In September 2025, the FASB issued ASU 2025-06, "*Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40*)*: Targeted Improvements to the Accounting for Internal-Use Software*" ("ASU 2025-06"), which is intended to increase the operability of the recognition guidance considering different methods of software development. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-06.

**3. &nbsp;&nbsp;&nbsp;&nbsp;REVENUE RECOGNITION**

Our contracts with customers can include various combinations of products and services, which are generally distinct and accounted for as separate performance obligations. Revenue is recognized upon the transfer of control of promised products or services to clients in an amount that reflects the consideration we expect to receive in exchange for those products and services. The Company employs the 5-step revenue recognition model under ASC 606, *Revenue from Contracts with Customers*, to: (1) identify the contract with the client, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation.

Revenue is recognized net of shipping charges and any taxes collected from clients, which are subsequently remitted to governmental authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***• Financial Health***

Our Financial Health business unit provides an array of revenue cycle management ("RCM") services consisting of accounts receivable management, private pay services, insurance services, medical coding, electronic billing, statement processing, payroll processing, and contract management. Fees are recognized over the period of the client contractual relationship as the services are performed. We generally determine stand-alone selling prices ("SSP") based on a standard list price for each product, taking into consideration certain factors, including contract length and the number of subscriptions or licenses purchased within the contract. Judgment is required in determining whether performance obligations are distinct, the SSP, and the amount of variable consideration to reflect the transaction price. Fees for many of these services are invoiced, and revenue recognized accordingly, based on the volume of transactions or a percentage of client accounts receivable collections. Payment is due monthly for RCM services with certain amounts varying based on utilization and/or volumes.

Our Financial Health business unit also provides professional IT services. Revenue from professional IT services is recognized as the services are performed based on SSP, which is determined by observable stand-alone selling prices. Payment is due monthly as services are performed.

Lastly, our Financial Health business unit also provides certain software solutions and related support under Software as a Service ("SaaS") arrangements and time-based software licenses. Revenue from SaaS arrangements is recognized in a manner consistent with SaaS arrangements for electronic health records ("EHR") software, as discussed below. Revenue from time-based software licenses is recognized upon delivery to the client ("point in time") and revenue from non-license components (i.e., support) is recognized ratably over the respective contract term ("over time"). SSP for time-based licenses is determined using the residual approach, while the non-license component is based on cost plus reasonable margin.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***• Patient Care***

The Company enters into contractual obligations to sell perpetual software licenses, installation, conversion, and related training services, software application support, hardware, and hardware maintenance services to acute care hospitals. The Company also enters into contractual obligations to sell SaaS, time-based software licenses, implementation and customization professional services, and software application support services to a variety of healthcare organizations, including hospital systems, health ministries, and government and non-profit organizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Recurring Revenues**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Software application support and hardware maintenance services sold with software licenses and hardware are separate and distinct performance obligations. Revenue for support and maintenance services is recognized based on SSP, which is the renewal price, ratably over the life of the contract, which is generally three to five years. Payment is due either monthly for support and maintenance services provided or for the full amount of annual support fees at the beginning of an annual license.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue from subscriptions to third-party content is recognized as a separate performance obligation ratably over the subscription term based on SSP, which is cost plus a reasonable margin, and revenue is recognized on a gross basis. Payment is due monthly for subscriptions to third-party content.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• SaaS arrangements for EHR software and related conversion and training services are considered a single performance obligation. Revenue is recognized on a monthly basis as the SaaS and related services are provided to the client over the contract term. Payment is due monthly for SaaS and related services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Term-based software licenses are considered a separate and distinct performance obligation. Revenue is recognized based on SSP, which is directly observable, at the point in time the term-based licenses are delivered to the client or upon annual renewal. Payment is generally due upon delivery of licenses or annual renewal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Non-recurring Revenues**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Perpetual software licenses and installation, conversion, and related training services for acute care customers are not considered separate and distinct performance obligations due to the proprietary nature of our software and are, therefore, accounted for as a single performance obligation on a module-by-module basis. Revenue is recognized as each module's implementation is completed based on the module's SSP, net of discounts. We determine each module's SSP using the residual method. Fees for licenses and installation, conversion, and related training services are typically due in three installments: (1) at placement of order, (2) upon installation of software and commencement of training, and (3) upon satisfactory completion of monthly accounting cycle or end-of-month operation by application and as applicable for each application. Often, short-term and/or long-term financing arrangements are provided for software implementations; refer to Note 11 - Financing Receivables for further information. Patient Care implementations include a system warranty that terminates thirty days from the software go-live date, the date which the client begins using the system in a live environment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Hardware revenue is recognized separately from software licenses at the point in time it is delivered to the client. The SSP of hardware is cost plus a reasonable margin and revenue is recognized on a gross basis. Payment is generally due upon delivery of the hardware to the client. Standard manufacturer warranties apply to hardware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Implementation and customization services are considered a separate and distinct performance obligation. Revenue is recognized over time based on SSP, which is generally directly observable. Payment for professional services is typically due in two installments: (1) upon signature of the agreement and (2) upon customer acceptance of the delivered services.

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The following table represents revenues disaggregated by category for the three and nine months ended September 30, 2025 and 2024.

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 | 2025 | 2024 |
| Recurring revenues |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $53514 | $53513 | $162100 | $158426 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 27425 | 27052 | 82988 | 82730 |
| &nbsp;&nbsp;Total recurring revenues | 80939 | 80565 | 245088 | 241156 |
| Non-recurring revenues |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | 987 | 1159 | 2818 | 4194 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 4180 | 2976 | 11137 | 9066 |
| &nbsp;&nbsp;Total non-recurring revenues | 5167 | 4135 | 13955 | 13260 |
| Total revenues | $86106 | $84700 | $259043 | $254416 |

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***Deferred Revenue (Contract Liabilities)***

Deferred revenue represents amounts invoiced to clients for which the services under contract have not been completed and revenue has not been recognized, including annual renewals of certain software subscriptions and customer deposits for implementations to be performed at a later date. Revenue is recognized ratably over the life of the software subscriptions as services are provided and at the point-in-time when implementations have been completed.

The following table details deferred revenue recorded and revenue recognized from amounts included in deferred revenue for the three and nine months ended September 30, 2025 and 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 | 2025 | 2024 |
| Beginning balance | $11689 | $9842 | $10653 | $8677 |
| Deferred revenue recorded | 9732 | 7803 | 26015 | 16033 |
| Less deferred revenue recognized as revenue | (13224) | (7410) | (28471) | (14475) |
| Ending balance | $8197 | $10235 | $8197 | $10235 |

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The deferred revenue recorded during the nine months ended September 30, 2025 and 2024 is comprised primarily of the annual renewals of certain software subscriptions billed during the first quarter of each year and deposits collected for future Patient Care software installations. The deferred revenue recognized as revenue during the nine months ended September 30, 2025 and 2024 is comprised primarily of the periodic recognition of annual renewals that were deferred until earned and deposits for future Patient Care software installations that were earned and recognized during the period.

***Costs to Obtain and Fulfill Contracts with a Customer***

Costs to obtain contracts include the sales commission paid to the Company's sales force related to SaaS and Financial Health arrangements, which are capitalized and amortized ratably over the expected life of the customer contract. As a practical expedient, we generally recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset would have been one year or less. Costs to obtain a contract are recorded within the caption "Expenses - Sales and marketing" in the accompanying condensed consolidated statements of operations.

Contract fulfillment costs related to the implementation of SaaS arrangements are capitalized and amortized ratably over the expected life of the customer contract. Costs to fulfill contracts consist of the payroll costs for the implementation of SaaS arrangements, including time for training, conversions, and installation that is necessary for the software to be utilized. Contract fulfillment costs are recorded within the caption "Costs of revenue (exclusive of amortization and depreciation) - Patient Care" in the accompanying condensed consolidated statements of operations.

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Costs to obtain and fulfill contracts related to SaaS and Financial Health arrangements are included within the "Prepaid expenses and other current assets" and "Other assets, less current portion" line items on our condensed consolidated balance sheets. The following table details the costs to obtain and fulfill contracts with customers for the three and nine months ended September 30, 2025 and 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 | 2025 | 2024 |
| Beginning balance | $12958 | $12896 | $12587 | $13115 |
| Costs to obtain and fulfill contracts capitalized | 2049 | 1686 | 5850 | 5116 |
| Less costs to obtain and fulfill contracts recognized as expense | (2511) | (1751) | (5941) | (5400) |
| Ending balance | $12496 | $12831 | $12496 | $12831 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***Remaining Performance Obligations***

Disclosures regarding remaining performance obligations are not considered material as the overwhelming majority of the Company's remaining performance obligations either (a) are related to contracts with an expected duration of one year or less, or (b) exhibit revenue recognition for the amount to which the Company has the right to invoice.

**4. BUSINESS COMBINATIONS AND DISPOSITIONS**

***Sale of American HealthTech, Inc.***

On January 16, 2024, we entered into a Stock Purchase Agreement (the "Purchase Agreement"), by and among the Company, American HealthTech, Inc. a Mississippi corporation ("AHT"), and Healthland Inc., a Minnesota corporation and an indirect, wholly-owned subsidiary of the Company ("Healthland" and, together with the Company, the "Seller Parties") and PointClickCare Technologies USA Corp., a Delaware corporation ("Buyer"). The Transaction (hereinafter defined) also closed on January 16, 2024. Under the Purchase Agreement, Buyer purchased from Healthland all of the issued and outstanding capital stock of AHT (the "Transaction"), with AHT becoming a wholly-owned subsidiary of Buyer. Prior to this transaction, results for AHT were reported within our Patient Care operating segment.

The Purchase Agreement provided for an aggregate purchase price (the "Purchase Price") of $25.0 million (the "Base Cash Consideration"), subject to adjustments based on working capital, cash, indebtedness and transaction expenses of AHT. Additionally, pursuant to the Purchase Agreement, a total of approximately $3.8 million was withheld from the Base Cash Consideration at the closing and deposited by Buyer into various escrow accounts with an escrow agent, including $2.5 million as a general indemnity escrow and $1.0 million as a special indemnity escrow. Based upon the adjustments and the various escrow holdbacks, Buyer paid a net amount of approximately $21.4 million to Healthland at the closing. The Purchase Price was subject to a post-closing true-up. In connection with the closing of the Transaction, Buyer provided offers of employment to certain key employees of the Company that primarily supported AHT's business.

As part of the divestiture, as of January 16, 2024, we entered into a transition services agreement ("TSA") with Buyer to assist them in the transition of certain functions, including, but not limited to, information technology, finance and accounting, for an initial period of 18 months, with certain services being completed prior to the 18-month period. In addition to the agreed upon services, the TSA allows for additional services to be offered by the Company pursuant to a mutually agreed upon amendment to the TSA. On July 17, 2025, the parties entered into an amendment in order to extend the TSA for an additional 120 days. The Company has $0.5 million in receivables from Buyer for the TSA services reflected under the caption "Accounts receivable" in the condensed consolidated balance sheet as of September 30, 2025.

For the nine months ended September 30, 2025 and 2024, the Company has recorded a $0.1 million and $1.3 million gain on sale, respectively, which is reflected under the caption "Other income" in the condensed consolidated statements of operations for the nine months ended September 30, 2025 and 2024.

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During the first quarter of 2025, the Company received the general indemnity escrow of $2.5 million, partially offset by a payment of $0.3 million for the working capital adjustment.

The following table presents the pretax loss for AHT that is included in our condensed consolidated statements of operations for the nine months ended September 30, 2025 and 2024:

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| | | |
|:---|:---|:---|
| | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 |
| Pretax loss | $— | $(241) |

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**5. PROPERTY AND EQUIPMENT**

Property and equipment, net was comprised of the following at September 30, 2025 and December 31, 2024:

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| | | |
|:---|:---|:---|
| *(In thousands)* | September 30,<br>2025 | December 31, 2024 |
| Buildings and improvements | $52 | $52 |
| Computer equipment | 11728 | 10963 |
| Leasehold improvements | 246 | 246 |
| Office furniture and fixtures | 531 | 540 |
| Automobiles | 18 | 18 |
| Property and equipment, gross | 12575 | 11819 |
| Less: accumulated depreciation | (10371) | (9525) |
| Property and equipment, net | $2204 | $2294 |

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***Assets Held for Sale***

ASC Topic 360-10, *Property, Plant and Equipment — Overall,* requires a long-lived asset to be classified as "held for sale" in the period in which certain criteria are met. The Company classifies real estate assets as held for sale after the following conditions have been satisfied: (1) management, having the appropriate authority, commits to a plan to sell the asset, (2) the asset is available for immediate sale in its present condition, (3) the Company has initiated an active program to sell the asset, (4) it is probable the sale of the asset will be completed within one year, and (5) it is unlikely the plan to sell the asset will change.

During the fourth quarter of 2024, the Company committed to a plan to sell land and a building located in Mobile, Alabama and determined the assets met the criteria for classification as held for sale as of December 31, 2024. As of September 30, 2025 and December 31, 2024, the Company recorded the assets held for sale at their fair value of $0.4 million and $0.6 million, respectively, which equals the estimated fair value less costs to sell the property of $0.1 million, which is included in "Assets held for sale" in the accompanying condensed consolidated balance sheets. On April 9, 2025, the Company sold the building and a portion of the land for $0.3 million. Prior to the sale, the carrying value of the assets sold included in "Assets held for sale" was $0.2 million. The remaining unsold land has an estimated fair value of approximately $0.4 million.

**6. SOFTWARE DEVELOPMENT**

Software development costs are accounted for in accordance with ASC 350-40, *Internal-Use Software* and ASC 985-20, *Costs of Software to be Sold, Leased, or Marketed.* 

For software intended for internal use, software development costs are capitalized in accordance with ASC 350-40, *Internal Use Software.* Software development costs related to preliminary project activities and post-implementation and maintenance activities are expensed as incurred. Direct costs related to application development activities that are probable to result in additional functionality are capitalized.

For software intended for external customers, costs incurred before technological feasibility are expensed as research and development. Costs incurred after technological feasibility and before the product is available for general release to customers are capitalized in accordance with ASC 985-20, *Costs of Software to Be Sold, Leased, or Marketed*.

We amortize capitalized software values on a straight-line basis over their estimated useful life of five years. If the actual

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useful life of the asset is determined to be shorter than our estimated useful life, we will amortize the remaining book value over the remaining actual useful life, or the asset may be deemed to be impaired and, accordingly, a write-down of the value of the asset may be recorded as a charge to earnings. Amortization begins when the computer software is ready for its intended use.

Software development costs, net were comprised of the following at September 30, 2025 and December 31, 2024:

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| | | |
|:---|:---|:---|
| *(In thousands)* | September 30,<br>2025 | December 31, 2024 |
| Software development costs | $77235 | $68805 |
| Less: accumulated amortization | (33009) | (27331) |
| Software development costs, net | $44226 | $41474 |

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**7. &nbsp;&nbsp;&nbsp;&nbsp;OTHER ACCRUED LIABILITIES**

Other accrued liabilities were comprised of the following at September 30, 2025 and December 31, 2024:

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| | | |
|:---|:---|:---|
| *(In thousands)* | September 30,<br>2025 | December 31, 2024 |
| Salaries and benefits | $11019 | $9050 |
| Severance | 1108 | 1702 |
| Commissions | 559 | 1191 |
| Accrued interest | 1884 | 2314 |
| Operating lease liabilities, current portion | 932 | 944 |
| Other | 943 | 793 |
| Other accrued liabilities | $16445 | $15994 |

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The Company has implemented certain cost savings initiatives and, as a result, incurred approximately $0.8 million and $1.8 million of severance costs during the three and nine months ended September 30, 2025, respectively, as compared to $1.7 million and $5.9 million during the three and nine months ended September 30, 2024, respectively. These costs were included in general and administrative expenses in the unaudited condensed consolidated statements of operations. During the three and nine months ended September 30, 2025, the Company paid severance of $0.6 million and $2.4 million, respectively, as compared to $2.6 million and $10.0 million of paid severance during the three and nine months ended September 30, 2024, respectively.

**8. &nbsp;&nbsp;&nbsp;&nbsp;NET INCOME (LOSS) PER SHARE**

The Company presents basic and diluted earnings per share ("EPS") data for its common stock. Basic EPS is calculated by dividing the net income (loss) attributable to stockholders of the Company by the weighted average number of shares of common stock outstanding during the period. Diluted EPS is determined by adjusting the net income (loss) attributable to stockholders of the Company and the weighted average number of shares of common stock outstanding during the period for the effects of all dilutive potential common shares, including awards under stock-based compensation arrangements.

The Company's unvested restricted stock awards (see Note 10 - Stock-Based Compensation and Equity) are considered participating securities under ASC 260, *Earnings Per Share*, because they entitle holders to non-forfeitable rights to dividends until the awards vest or are forfeited. When a company has a security that qualifies as a "participating security," ASC 260 requires the use of the two-class method when computing basic EPS. The two-class method is an earnings allocation formula that determines EPS for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. In determining the amount of net income (loss) to allocate to common stockholders, income (loss) is allocated to both common stock and participating securities based on their respective weighted average shares outstanding for the period, with net income (loss) attributable to common stockholders ultimately equaling net income less net income (loss) attributable to participating securities. Diluted EPS for the Company's common stock is computed using the more dilutive of the two-class method or the treasury stock method.

------

The following is a calculation of the basic and diluted EPS for the Company's common stock, including a reconciliation between net income (loss) and net income (loss) attributable to common stockholders:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands, except per share data)* | 2025 | 2024 | 2025 | 2024 |
| Net income (loss) | $5602 | $(9148) | $8641 | $(15390) |
| Less: Net (income) loss attributable to participating securities | (179) | 372 | (294) | 566 |
| Net income (loss) attributable to common stockholders | $5423 | $(8776) | $8347 | $(14824) |
| Weighted average shares outstanding used in basic per common share computations | 14527 | 14323 | 14474 | 14290 |
| Add: Dilutive potential common shares |  |  |  |  |
| Weighted average shares outstanding used in diluted per common share computations | 14527 | 14323 | 14474 | 14290 |
| Basic EPS | $0.37 | $(0.61) | $0.58 | $(1.04) |
| Diluted EPS | $0.37 | $(0.61) | $0.58 | $(1.04) |

---

During 2023, 2024, and 2025, performance share awards were granted to certain executive officers and key employees of the Company that will result in the issuance of common stock if the predefined performance criteria are met. The awards provide for an aggregate target of 491,342 shares, of which none have been included in the calculation of diluted EPS for the three or nine months ended September 30, 2025, because the related threshold award performance levels have not been achieved as of September 30, 2025. See Note 10 - Stock-Based Compensation and Equity for more information.

**9. &nbsp;&nbsp;&nbsp;&nbsp;INCOME TAXES**

***Effective tax rate***

The Company determines the tax provision for interim periods using an estimate of our annual effective tax rate ("ETR") adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, we update our estimate of the annual ETR, and if our estimated annual ETR changes, we make a cumulative adjustment. If a reliable estimate of the annual ETR cannot be made, the actual ETR for the year to date may be the best estimate of the annual ETR.

The Company recognized $(4.3) million and $(1.7) million of income tax benefit for the three and nine months ended September 30, 2025. On July 4, 2025, H.R. 1, or the "One Big Beautiful Bill Act" ("OBBBA"), was signed into law in the U.S., which contains a broad range of tax reform provisions affecting businesses. The OBBBA reduced the Company's 2025 expected current tax liability as a result of the ability to deduct domestic research and development expenses, resulting in a current tax benefit for each of the three and nine months ended September 30, 2025. The estimated effects of the OBBBA are reflected in the third quarter provision.

Our estimated annual ETR, including discrete items, for the three months ended September 30, 2025, was (314.3)% compared to (473.5)% for the three months ended September 30, 2024. The primary contributing factors to the difference between the estimated annual ETR for the three months ended September 30, 2025 of (314.3)% and the statutory tax rate of 21%, is a decrease in the Company's valuation allowance.

Our estimated annual ETR, including discrete items, for the nine months ended September 30, 2025, was (24.0)% compared to (38.2)% for the nine months ended September 30, 2024. The primary contributing factors to the difference between the estimated annual ETR for the nine months ended September 30, 2025 of (24.0)% and the statutory tax rate of 21%, are a decrease in the Company's valuation allowance as well as a benefit arising from a change in estimate related to finalizing the 2024 tax returns.

***Valuation allowance***&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ending September 30, 2025. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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The amount of the deferred tax assets considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are adjusted, or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as our projections for future growth.

**10. STOCK-BASED COMPENSATION AND EQUITY**

Stock-based compensation expense is measured at the grant date based on the fair value of the award, and is recognized as an expense over the employees' or non-employee directors' requisite service period.

The following table details total stock-based compensation expense for the three and nine months ended September 30, 2025 and 2024, included in the condensed consolidated statements of operations:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 | 2025 | 2024 |
| Costs of revenue (exclusive of amortization and depreciation) | $303 | $223 | $1139 | $489 |
| Other expenses (including G&A, S&M, and product development) | 1485 | 1175 | 3959 | 3209 |
| Pre-tax stock-based compensation expense | 1788 | 1398 | 5098 | 3698 |
| Less: income tax effect |  | (294) |  | (777) |
| Net stock-based compensation expense | $1788 | $1104 | $5098 | $2921 |

---

The Company's stock-based compensation awards are in the form of restricted stock and performance share awards granted pursuant to the Company's Second Amended and Restated 2019 Incentive Plan (the "Plan"). As of September 30, 2025, there was $10.4 million of unrecognized compensation expense related to unvested and unearned, as applicable, stock-based compensation arrangements granted under the Plan, which is expected to be recognized over a weighted-average period of 1.9 years.

***Restricted Stock***

The Company grants restricted stock to executive officers, certain key employees and non-employee directors under the Plan with the fair value of the awards representing the fair value of the common stock on the date the restricted stock is granted. During the vesting period, recipients of restricted stock are entitled to dividends and possess voting rights. Shares of restricted stock generally vest in equal annual installments over the applicable vesting period, which ranges from one to three years. The Company records expenses for these grants on a straight-line basis over the applicable vesting periods.

A summary of restricted stock activity under the Plan during the nine months ended September 30, 2025 and 2024 is as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2024 |
| | Shares | Weighted-Average<br>Grant Date<br>Fair Value Per Share | Shares | Weighted-Average<br>Grant Date<br>Fair Value Per Share |
| Unvested restricted stock outstanding at beginning of period | 569337 | $14.34 | 343315 | $29.08 |
| Granted | 197786 | 27.42 | 496546 | 10.03 |
| Vested | (264317) | 16.07 | (167064) | 30.10 |
| Forfeited | (29612) | 16.55 | (71725) | 22.66 |
| Unvested restricted stock outstanding at end of period | 473194 | $18.72 | 601072 | $14.14 |

---

***Performance Share Awards***

The Company grants share awards to executive officers and certain key employees under the Plan. The vesting of the awards is contingent upon the Company's achievement of performance goals predetermined by the Compensation Committee of the Board of Directors at the time the award is issued, which is considered a performance condition. At the end of a three-year performance period, the number of shares of common stock earned and issuable under each award will be determined based on the achievement of the performance conditions outlined in the award. The awards will be cancelled if none of the performance conditions are met at the end of the performance period.

------

Additionally, if the Company meets the performance condition for vesting, the number of shares of common stock issuable will be further adjusted based on the Company's total shareholder return ("TSR"), as defined in the award agreement, compared to a small-cap market index. This is considered a market condition as it is dependent upon the Company's performance as compared to market results.

The number of shares of common stock issued under the awards will be dependent upon which level of the performance objective is met, as defined by the terms of the award. In the event that the Company's financial performance meets the predetermined targets for the performance objectives of the performance share awards, the Company will issue each award recipient the number of shares of common stock equal to the target award specified in the individual's underlying performance share award agreement. In the event the financial results of the Company exceed the predetermined targets, additional shares up to the maximum award may be issued. In the event the financial results of the Company fall below the predetermined targets, a reduced number of shares may be issued. If the financial results of the Company fall below the minimum threshold performance levels, no shares may be issued. The total number of shares issued for the performance share award may be increased, decreased, or unchanged based on the TSR modifier described above.

The recipients of performance share awards do not receive dividends or possess voting rights during the performance period and, accordingly, the fair value of the performance share awards is the quoted market value of TruBridge's common stock on the grant date less the present value of the expected dividends not received during the relevant period. The TSR modifier applicable to the performance share awards is considered a market condition and therefore is reflected in the grant date fair value of the award. A Monte Carlo simulation has been used to account for this market condition in the grant date fair value of the award.

Expense related to performance share awards is recognized using straight-line amortization over the three-year performance period based on the estimated achievement of the Company-specific performance goals assessed each reporting period. In the event the Company determines it is no longer probable that the minimum performance level will be achieved, all previously recognized compensation expense related to the applicable awards is reversed in the period such a determination is made.

A summary of performance share award activity under the Plan during the nine months ended September 30, 2025 and 2024 is as follows, based on the target award amounts set forth in the performance share award agreements:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2024 |
| | Shares | Weighted-Average<br>Grant Date<br>Fair Value Per Share | Shares | Weighted-Average<br>Grant Date<br>Fair Value Per Share |
| Performance share awards outstanding at beginning of period | 451781 | $19.02 | 273791 | $33.17 |
| Granted | 113008 | 32.57 | 323461 | 10.60 |
| Forfeited or unearned | (73447) | 34.07 | (116922) | 24.95 |
| Performance share awards outstanding at end of period | 491342 | $19.90 | 480330 | $18.60 |

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***Stock Repurchases***

We repurchased 69,538 and 46,980 shares during the nine months ended September 30, 2025 and 2024, respectively, to fund required tax withholdings related to the vesting of shares of restricted stock.

***Common Stock Rights Agreement***

On March 26, 2024, the Company's Board of Directors declared a dividend of one right (a "Right") for each of the Company's issued and outstanding shares of common stock. The dividend was paid to the stockholders of record at the close of business on April 4, 2024. The complete description and terms of the Rights are set forth in the Rights Agreement, dated as of March 26, 2024, by and between the Company and Computershare Trust Company, N.A. as rights agent, as amended by the Amendment to the Rights Agreement dated as of April 22, 2024 (as amended, the "Rights Agreement").

------

Each Right initially entitled the registered holder, subject to the terms of the Rights Agreement, to purchase from the Company one half of a share of common stock, at an exercise price of $28.00 for each one half of a share of common stock (equivalent to $56.00 for each whole share of common stock), subject to certain adjustments.

The Company analyzed the terms governing the Rights under ASC 480, *Distinguishing Liabilities from Equity,* and concluded that the Rights were a freestanding financial instrument that qualified for liability classification. Specifically, the provisions within the Rights Agreement provided for scenarios outside of the Company's control that could require the Company to settle a portion of the Rights in cash, rather than in shares of common stock.

On February 11, 2025, the Company and Computershare Trust Company, N.A. entered into the Second Amendment to the Rights Agreement. The amendment terminated the Rights Agreement by accelerating the expiration of the Rights to February 12, 2025. At the time of the termination of the Rights Agreement, all of the Rights, which were previously distributed to holders of the Company's issued and outstanding common stock, par value $0.001, pursuant to the Rights Agreement, expired.

The Rights were only exercisable upon the occurrence of certain events, which did not occur prior to the Rights expiring during the first quarter of 2025.

**11. FINANCING RECEIVABLES**

***Short-Term Payment Plans***

The Company provided fixed monthly payment arrangements ("short-term payment plans") over terms ranging from three to twelve months for certain add-on software installations. As a practical expedient, we do not adjust the amount of consideration recognized as revenue for the financing component as unearned income when we expect payment within one year or less. These receivables, included in the current portion of financing receivables, were comprised of the following at September 30, 2025 and December 31, 2024:

---

| | | |
|:---|:---|:---|
| *(In thousands)* | September 30,<br>2025 | December 31, 2024 |
| Short-term payment plans, gross | $2228 | $1521 |
| Less: allowance for credit losses | (111) | (76) |
| Short-term payment plans, net | $2117 | $1445 |

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***Long-Term Financing Arrangements***

The Company provided financing for purchases of its information and patient care solutions to certain healthcare providers under long-term financing arrangements expiring in various years through 2028. Under long-term financing arrangements, the transaction price is adjusted by a discount rate that reflects market conditions that would be used for a separate financing transaction between the Company and licensee at contract inception, and takes into account the credit characteristics of the licensee and market interest rates as of the date of the agreement. As such, the amount of fixed fee revenue recognized at the beginning of the license term will be reduced by the calculated financing component. As payments are received from the licensee, the Company recognizes a portion of the financing component as interest income, reported as other income in the condensed consolidated statements of operations. These receivables typically have terms from two to seven years.

The components of these receivables were as follows at September 30, 2025 and December 31, 2024:

---

| | | |
|:---|:---|:---|
| *(In thousands)* | September 30,<br>2025 | December 31, 2024 |
| Long-term financing arrangements, gross | $1720 | $4100 |
| Less: allowance for credit losses | (687) | (362) |
| Less: unearned income | (125) | (288) |
| Long-term financing arrangements, net | $908 | $3450 |

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------

Future minimum payments to be received subsequent to September 30, 2025 are as follows:

---

| | |
|:---|:---|
| *(In thousands)* |  |
| Years Ending December 31, |  |
| 2025 (remaining three months) | $527 |
| 2026 | 978 |
| 2027 | 159 |
| 2028 | 56 |
| Total minimum payments to be received | 1720 |
| Less: allowance for credit losses | (687) |
| Less: unearned income | (125) |
| Long-term financing arrangements, net | $908 |

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***Credit Quality of Financing Receivables and Allowance for Credit Losses***

The following table is a rollforward of the allowance for credit losses for the nine months ended September 30, 2025 and year ended December 31, 2024:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In thousands)* | Balance at Beginning of Period | Change in Provision | (Charge-offs) | Miscellaneous Adjustments | Sale of AHT | Balance at End of Period |
| September 30, 2025 | $438 | $301 | $— | $59 | $— | $798 |
| December 31, 2024 | $416 | $397 | $(373) | $— | $(2) | $438 |

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The Company's financing receivables are comprised of a single portfolio segment, as the balances are all derived from short-term payment plan arrangements and long-term financing arrangements within our target market of rural and community hospitals. The Company evaluates the credit quality of its financing receivables based on a combination of factors, including, but not limited to, customer collection experience, current and future economic conditions, the customer's financial condition, and known risk characteristics impacting the respective customer base of hospitals, the most notable of which relate to enacted and potential changes in Medicare and Medicaid reimbursement rates as hospitals typically generate a significant portion of their revenues and related cash flows from beneficiaries of these programs. In addition to specific account identification, the Company utilizes historical collection experience to establish the allowance for expected credit losses. Financing receivables are written off only after the Company has exhausted all collection efforts.

Customer payments are considered past due if a scheduled payment is not received within contractually agreed upon terms. To facilitate customer collection and credit monitoring efforts, financing receivable amounts are invoiced and reclassified to trade accounts receivable when they become due, with all invoiced amounts placed on non-accrual status. As a result, all past due amounts related to the Company's financing receivables are included in accounts receivable in the accompanying condensed consolidated balance sheets. The following is an analysis of the age of financing receivables amounts (excluding short-term payment plans) that have been reclassified to trade accounts receivable and were past due as of September 30, 2025 and December 31, 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
| *(In thousands)* | 1 to 90 Days Past Due | 91 to 180 Days Past Due | 181 + Days Past Due | Total Past Due |
| September 30, 2025 | $286 | $858 | $824 | $1968 |
| December 31, 2024 | $1272 | $317 | $815 | $2404 |

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From time to time, the Company may agree to alternative payment terms outside of the terms of the original financing receivable agreement due to customer difficulties in achieving the original terms. In general, such alternative payment arrangements do not result in a re-aging of the related receivables. Rather, payments pursuant to any alternative payment arrangements are applied to the already outstanding invoices beginning with the oldest outstanding invoices as the payments are received.

Because amounts are reclassified to accounts receivable when they become due, there are no past due amounts included within current portion of financing receivables, net or financing receivables, less current portion in the accompanying condensed consolidated balance sheets.

------

The Company utilizes an aging of trade accounts receivable as the primary credit quality indicator for its financing receivables, which is facilitated by the reclassification of customer payment amounts to trade accounts receivable when they become due. The table below categorizes customer financing receivable balances (excluding short-term payment plans) based on the age of the oldest payment outstanding that has been reclassified to trade accounts receivable:

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| | | |
|:---|:---|:---|
| *(In thousands)* | September 30,<br>2025 | December 31, 2024 |
| Stratification of uninvoiced client financing receivables based on aging of related trade accounts receivable: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Uninvoiced client financing receivables related to trade accounts receivable that are 1 to 90 Days Past Due | $381 | $1208 |
| &nbsp;&nbsp;&nbsp;&nbsp;Uninvoiced client financing receivables related to trade accounts receivable that are 91 to 180 Days Past Due | 436 | 259 |
| &nbsp;&nbsp;&nbsp;&nbsp;Uninvoiced client financing receivables related to trade accounts receivable that are 181 + Days Past Due | 778 | 1316 |
| Total uninvoiced client financing receivables balances of clients with a trade accounts receivable | $1595 | $2783 |
| Total uninvoiced client financing receivables of clients with no related trade accounts receivable |  | 1029 |
| Total financing receivables with contractual maturities of one year or less | 2228 | 1521 |
| Less: allowance for credit losses | (798) | (438) |
| Total financing receivables | $3025 | $4895 |

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**12. INTANGIBLE ASSETS AND GOODWILL**

The following tables summarize the gross carrying amounts, accumulated amortization and accumulated impairment of identifiable intangible assets with definite lives by major class as of September 30, 2025 and December 31, 2024:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | September 30, 2025 | September 30, 2025 | September 30, 2025 | September 30, 2025 | September 30, 2025 |
| *(In thousands)* | Customer Relationships | Trademark | Developed Technology | Non-Compete Agreements | Total |
| Gross carrying amount | $116470 | $7720 | $31900 | $1620 | $157710 |
| Accumulated amortization | (57489) | (5378) | (23849) | (1089) | (87805) |
| Accumulated impairment |  | (2342) |  |  | (2342) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net intangible assets as of September 30, 2025 | $58981 | $— | $8051 | $531 | $67563 |
| Weighted average remaining years of useful life | 6.8 | 0.0 | 8.3 | 1.8 | 7.5 |

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | December 31, 2024 | December 31, 2024 | December 31, 2024 | December 31, 2024 | December 31, 2024 |
| *(In thousands)* | Customer Relationships | Trademark | Developed Technology | Non-Compete Agreements | Total |
| Gross carrying amount | $116470 | $7720 | $31900 | $1620 | $157710 |
| Accumulated amortization | (50260) | (5378) | (22177) | (846) | (78661) |
| Accumulated impairment |  | (2342) |  |  | (2342) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net intangible assets as of December 31, 2024 | $66210 | $— | $9723 | $774 | $76707 |
| Weighted average remaining years of useful life | 7.5 | 0.0 | 8.2 | 2.5 | 7.9 |

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------

The following table represents the remaining amortization of definite-lived intangible assets as of September 30, 2025:

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| | |
|:---|:---|
| *(In thousands)* |  |
| For the year ended December 31, |  |
| 2025 (remaining three months) | $3047 |
| 2026 | 11517 |
| 2027 | 10496 |
| 2028 | 10203 |
| 2029 | 10095 |
| Thereafter | 22205 |
| Total | $67563 |

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The following table sets forth the change in the gross and carrying value of our goodwill balances by reportable segment for the nine months ended September 30, 2025:

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| | | | |
|:---|:---|:---|:---|
| *(In thousands)* | Financial Health | Patient Care | Total |
| Gross value at December 31, 2024 | $79748 | $128738 | $208486 |
| Accumulated impairment |  | (35913) | (35913) |
| Carrying value at December 31, 2024 | 79748 | 92825 | 172573 |
| Gross value at September 30, 2025 | 79748 | 128738 | 208486 |
| Accumulated impairment |  | (35913) | (35913) |
| Carrying value as of September 30, 2025 | $79748 | $92825 | $172573 |

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Goodwill is evaluated for impairment annually on October 1, or more frequently if indicators of impairment are present or changes in circumstances suggest that impairment may exist.

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**13. LONG-TERM DEBT**

Long-term debt was comprised of the following at September 30, 2025 and December 31, 2024:

---

| | | |
|:---|:---|:---|
| *(In thousands)* | September 30,<br>2025 | December 31, 2024 |
| Term loan facility | $53750 | $56375 |
| Revolving credit facility | 111416 | 116415 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt obligations | 165166 | 172790 |
| Less: unamortized debt issuance costs | (823) | (1212) |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt obligation, net | 164343 | 171578 |
| Less: current portion | (2980) | (2980) |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | $161363 | $168598 |

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As of September 30, 2025, the carrying value of debt approximated the fair value due to the variable interest rate, which, in our opinion, reflected the market rate.

***Credit Agreement***

In conjunction with our acquisition of Healthland Holding Inc. in January 2016, we entered into a syndicated credit agreement with Regions Bank ("Regions") serving as administrative agent, which provided for a $125 million term loan facility and a $50 million revolving credit facility. On June 16, 2020, we entered into an Amended and Restated Credit Agreement that increased the aggregate principal amount of our credit facilities to $185 million, including a $75 million term loan facility and a $110 million revolving credit facility. On May 2, 2022, we entered into a First Amendment (the "First Amendment") to the Amended and Restated Credit Agreement that increased the aggregate principal amount of our credit facilities to $230 million, which includes a $70 million term loan facility and a $160 million revolving credit facility. There are no limitations on borrowing under the revolving credit facility other than that as of a date of borrowing there cannot be an ongoing event of default and there cannot be an event of default that would result from a new credit extension. In addition, the interest rate provisions of the First Amendment reflect the transition from the London Interbank Offered Rate ("LIBOR") to the Secured Overnight Financing Rate ("SOFR") as the new benchmark interest rate for each loan.

Each of our credit facilities continues to bear interest at a rate per annum equal to an applicable margin plus, at our option, either (1) the Adjusted SOFR rate for the relevant interest period, subject to a floor of 0.50%, (2) an alternate base rate determined by reference to the greater of (a) the prime lending rate of Regions, (b) the federal funds rate for the relevant interest period plus one half of one percent per annum and (c) the one month SOFR rate, subject to the aforementioned floor, plus one percent per annum, or (3) a combination of (1) and (2). The applicable margin for SOFR loans and the letter of credit fee ranges from 1.8% to 3.0%. The applicable margin for base rate loans ranges from 0.8% to 2.0%, in each case based on the Company's consolidated net leverage ratio.

The term loan and revolving credit facilities mature on May 2, 2027. The term loan facility requires quarterly principal payments of approximately $0.9 million beginning June 30, 2022 through March 31, 2027. Any principal outstanding under the revolving credit facility is due and payable on the maturity date.

Anticipated annual future maturities of the term loan facility and revolving credit facility are as follows as of September 30, 2025:

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| | |
|:---|:---|
| *(In thousands)* |  |
| 2025 | $875 |
| 2026 | 3500 |
| 2027 | 160791 |
|  | $165166 |

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Our credit facilities are secured pursuant to the Amended and Restated Credit Agreement, dated as of June 16, 2020, among the parties identified as obligors therein and Regions, as collateral agent, on a first priority basis by a security interest in substantially all of the tangible and intangible assets (subject to certain exceptions) of the Company and certain subsidiaries of the Company, as guarantors (collectively, the "Subsidiary Guarantors"), including certain registered intellectual property and the capital stock of certain of the Company's direct and indirect subsidiaries. Our obligations under the Amended and Restated Credit Agreement are also guaranteed by the Subsidiary Guarantors.

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The First Amendment provides incremental facility capacity of $75 million, subject to certain conditions. The Amended and Restated Credit Agreement, as amended by the First Amendment, includes a number of restrictive covenants that, among other things and in each case subject to certain exceptions and baskets, impose operating and financial restrictions on the Company and the Subsidiary Guarantors, including the ability to incur additional debt; incur liens and encumbrances; make certain restricted payments, including paying dividends on the Company's equity securities or payments to redeem, repurchase, or retire the Company's equity securities (which are subject to our compliance, on a pro forma basis to give effect to the restricted payment, with the fixed charge coverage ratio and consolidated net leverage ratio described below); enter into certain restrictive agreements; make investments, loans and acquisitions; merge or consolidate with any other person; dispose of assets; enter into sale and leaseback transactions; engage in transactions with affiliates; and materially alter the business we conduct. The Amended and Restated Credit Agreement also contains customary representations and warranties, affirmative covenants and events of default.

The First Amendment requires the Company to maintain a minimum fixed charge coverage ratio of 1.25:1.00 throughout the duration of such agreement (subject to adjustment as described below). On March 10, 2023, the calculation of the fixed charge coverage ratio was amended pursuant to the Second Amendment to the credit agreement in order to specifically exclude from the definition of fixed charges the Company's share repurchases conducted during the third and fourth quarters of 2022.

As of September 30, 2023, we were not in compliance with the fixed charge coverage ratio required by the Amended and Restated Credit Agreement. On November 8, 2023, the Company and the Subsidiary Guarantors entered into a Waiver with Regions Bank, as administrative agent, and various other lenders, which provided for a one-time waiver of this failure as an event of default. As of December 31, 2023, the Company was similarly not in compliance with the fixed charge coverage ratio required by the Amended and Restated Credit Agreement, and a one-time waiver was provided in conjunction with the Fourth Amendment to the Amended and Restated Credit Agreement (described below). The Fourth Amendment decreased the required fixed charge coverage ratio from 1.25:1.00 to 1.15:1.00 for each fiscal quarter ending March 31, 2024 through December 31, 2024. After this period, the fixed coverage ratio reverted to 1.25:1.00 for fiscal quarters March 31, 2025 and thereafter. Any failure by us to comply with this or another covenant in the future may result in an event of default. There can be no assurance that we will be able to continue to comply with this covenant or obtain amendments or waivers to avoid future covenant violations, or that such amendments or waivers will be available on commercially acceptable terms.

Also under the First Amendment, the Company is required to comply with a maximum consolidated net leverage ratio of 3.50:1.00. Further, under the First Amendment, in connection with any acquisition by the Company exceeding $25 million, the Company may elect to increase the maximum permitted consolidated net leverage ratio for the fiscal quarter in which the acquisition occurs and each of the following three fiscal quarters by 0.50:1.00 above the otherwise permitted maximum. If the consolidated net leverage ratio is less than 2.50:1.00, there is no limit on the amount of incremental facilities. We were in compliance with the financial covenants contained in the Amended and Restated Credit Agreement, as amended, as of September 30, 2025.

The First Amendment removed the requirement that the Company mandatorily prepay the credit facilities with excess cash flow generated during the prior fiscal year. The Company is permitted to voluntarily prepay the credit facilities at any time without penalty, subject to customary "breakage" costs with respect to prepayments of SOFR rate loans made on a day other than the last day of any applicable interest period.

On January 16, 2024, the Company entered into a Third Amendment (the "Third Amendment") to the Credit Agreement. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Credit Agreement. The Third Amendment modified the term "Consolidated EBITDA" to provide that the following amounts will be added back to Consolidated Net Income: (i) the reasonably expected value of all earnout consideration in connection with any Permitted Acquisition, provided that the aggregate amount of fees and out-of-pocket expenses incurred in connection with anticipated Permitted Acquisitions which are not consummated during any period of four fiscal quarters ending on or after the Closing Date will not exceed the greater of $7 million and 10% of Consolidated EBITDA; (ii) any fees, costs or expenses related to the implementation of cost savings, operating expense reductions and synergies related to Permitted Acquisitions, restructurings and other initiatives; and (iii) other certain costs and expenses related to the previously disclosed and resolved U.S. Securities and Exchange Commission investigation that occurred during the fiscal year ended December 31, 2023, in an aggregate amount not to exceed $1.25 million. Additionally, the Third Amendment (y) removed from the maximum aggregate amount of fees and expenses that can be added back to Consolidated Net Income any losses resulting from any Asset Sale or Involuntary Disposition and (z) increased the maximum amount of fees and expenses that can be added back to Consolidated Net Income related to savings initiatives, Equity Transactions, the incurrence of Indebtedness

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and amendments to the Credit Documents from 10% to 15% of Consolidated EBITDA (determined prior to giving effect to such adjustments).

On February 29, 2024, the Company entered into a Fourth Amendment (the "Fourth Amendment") to the Credit Agreement, and capitalized terms used but not defined herein shall have the meanings ascribed to them in the Credit Agreement. The Fourth Amendment further modified the term "Consolidated EBITDA" to provide that the additional following amounts will be added back to Consolidated Net Income: (i) costs and expenses related to the voluntary early retirement program incurred during the fiscal year ended December 31, 2023; and (ii) fees, costs and expenses in categories identified to the Administrative Agent to the extent incurred during the fiscal year ended December 31, 2024, in an aggregate amount not to exceed $7.25 million. Additionally, the modified definition of "Consolidated EBITDA" limits the amount of pro forma "run rate" cost savings, operating expense reductions and synergies (collectively, "Savings") related to the Viewgol acquisition that can be added back to Consolidated Net Income to an aggregate amount not to exceed $6.6 million; however, Savings related to the Viewgol acquisition are not subject to the cap of 15% of Consolidated EBITDA that otherwise applies to Savings related to Permitted Acquisitions, restructurings or cost savings initiatives.

**14. OPERATING LEASES**

The Company leases office space in various locations in Alabama, Pennsylvania, and Mississippi. These leases have terms expiring from 2025 through 2029 but contain optional extension terms. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term.

Supplemental balance sheet information related to operating leases was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| *(In thousands)* | September 30,<br>2025 | September 30,<br>2025 | December 31,<br>2024 | December 31,<br>2024 |
| Operating lease right-of-use assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease right-of-use assets | $| 2391 | $| 3092 |
| Operating lease liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other accrued liabilities | 932 | 932 | 944 | 944 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities, less current portion | 1588 | 1588 | 2293 | 2293 |
| &nbsp;&nbsp;Total operating lease liabilities | $| 2520 | $| 3237 |
| Weighted average remaining lease term in years | 3.0 | 3.0 | 3.6 | 3.6 |
| Weighted average discount rate | 4.0% | 4.0% | 4.1% | 4.1% |

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Because our leases do not provide a readily determinable implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The incremental borrowing rate is the estimated rate incurred to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. We used the incremental borrowing rate on January 1, 2019, for operating leases that commenced prior to that date.

The future minimum lease payments under these operating leases subsequent to September 30, 2025 are as follows:

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| | |
|:---|:---|
| *(In thousands)* |  |
| 2025 (remaining three months) | $252 |
| 2026 | 1020 |
| 2027 | 709 |
| 2028 | 462 |
| 2029 | 231 |
| Total lease payments | 2674 |
| Less imputed interest | (154) |
| Total | $2520 |

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Total lease expense for the nine months ended September 30, 2025 and 2024 was $0.8 million and $1.4 million, respectively.

Total cash paid for amounts included in the measurement of lease liabilities within operating cash flows from operating leases for the nine months ended September 30, 2025 and 2024 was $0.8 million and $1.4 million, respectively.

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**15. COMMITMENTS AND CONTINGENCIES**

From time to time, the Company is involved in routine litigation that arises in the ordinary course of business. Management does not believe it is reasonably possible that such matters will have a material adverse effect on the Company's financial statements.

During the third quarter of 2025, the Company received a request from VG Sellers, Inc. that the parties engage in an accounting arbitration concerning the earnout provisions agreed to in the October 16, 2023 Securities Purchase Agreement, pursuant to which the Company acquired Viewgol, LLC. VG Sellers, Inc. seeks the maximum earnout amount payable under the Securities Purchase Agreement. The Company firmly believes that no earnout amount is due to VG Sellers, Inc. pursuant to the Securities Purchase Agreement. VG Sellers, Inc. also threatened to commence litigation concerning the earnout provisions. There are numerous factors that make it difficult to estimate a reasonably possible loss or range of loss, including the significant number of legal, accounting, and factual issues to be resolved. The Company is currently unable to estimate the potential liability with respect to those disputed issues. The Company intends to vigorously defend its positions on the issues.

**16. FAIR VALUE**

FASB Codification topic, *Fair Value Measurement,* establishes a framework for measuring fair value and expands financial statement disclosures about fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (that is an exit price), regardless of whether that price is directly observable or estimated using another valuation technique. The Codification does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. The Codification requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

**17. SEGMENT REPORTING**

The Company previously reported its financial results in the following three operating and reportable segments: RCM, EHR, and Patient Engagement. In May 2024, the Company made a number of changes to its organizational structure and management system to better align the Company's operating model with its strategic initiatives. As a result, the Company changed from three operating and reportable segments of (i) RCM, (ii) EHR and (iii) Patient Engagement to two operating and reportable segments of (i) EHR and (ii) RCM. The Patient Engagement segment results were transitioned into the EHR segment for all periods presented. 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 chief operating decision maker ("CODM") in assessing segment performance and in allocating the Company's resources.

During the Company's realignment, the reportable segments naming convention was updated. The previously reported RCM segment has been updated to Financial Health and the former EHR segment is now referred to as Patient Care. There were no additional changes to the composition of the Company's reportable segments in connection with the name changes. The condensed consolidated financial statements and accompanying footnotes have been updated with the new segment names.

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The Company's CODM is its Chief Executive Officer. The CODM uses revenues and Adjusted EBITDA to assess the performance of and allocate 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 these performance measures to assess the performance of 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 intangibles; (iv) stock-based compensation; (v) severance and other non-recurring charges; (vi) interest expense and other income; (vii) gain on sale of AHT; (viii) gain on disposal of property and equipment; (ix) change in fair value of contingent consideration; and (x) the provision for (benefit from) 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 three and nine months ended September 30, 2025 and 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 | 2025 | 2024 |
| **Revenues:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $54501 | $54672 | $164918 | $162620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 31605 | 30028 | 94125 | 91796 |
| &nbsp;&nbsp;Total revenues | 86106 | 84700 | 259043 | 254416 |
| **Less:** |  |  |  |  |
| &nbsp;&nbsp;Financial Health expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenues (excluding amortization and depreciation and stock compensation expense) | $29208 | $29077 | $85123 | $88762 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product development (excluding stock compensation) | 3249 | 1888 | 9360 | 6219 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing (excluding stock compensation) | 3466 | 3664 | 12326 | 12959 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expenses (excluding stock compensation) | 9706 | 10079 | 30865 | 29710 |
| &nbsp;&nbsp;Total Financial Health expenses | $45629 | $44708 | $137674 | $137650 |
| &nbsp;&nbsp;Patient Care expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenues (excluding amortization and depreciation and stock compensation expense) | $12538 | $13069 | $36569 | $38220 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product development (excluding stock compensation) | 4676 | 5616 | 14474 | 19712 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing (excluding stock compensation) | 1990 | 2067 | 6169 | 6830 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expenses (excluding stock compensation) | 5001 | 4548 | 15912 | 13544 |
| &nbsp;&nbsp;Total Patient Care expenses | $24205 | $25300 | $73124 | $78306 |
| &nbsp;&nbsp;Total segment expenses | $69834 | $70008 | $210798 | $215956 |
| Adjusted EBITDA by segment: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | 8872 | 9964 | 27244 | 24970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 7400 | 4728 | 21001 | 13490 |
| Total Adjusted EBITDA | $16272 | $14692 | $48245 | $38460 |

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The following table reconciles Adjusted EBITDA to income (loss) before taxes:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 | 2025 | 2024 |
| Total Adjusted EBITDA | $16272 | $14692 | $48245 | $38460 |
| Less: |  |  |  |  |
| &nbsp;&nbsp;Interest expense and other income | 2716 | 3777 | 9057 | 11826 |
| &nbsp;&nbsp;Depreciation expense | 243 | 279 | 846 | 1079 |
| &nbsp;&nbsp;Amortization of software development costs | 3441 | 3057 | 9757 | 11779 |
| &nbsp;&nbsp;Amortization of acquisition-related intangibles | 3046 | 3126 | 9144 | 9379 |
| &nbsp;&nbsp;Stock-based compensation | 1788 | 1398 | 5098 | 3698 |
| &nbsp;&nbsp;Severance and other non-recurring charges | 3686 | 4018 | 7545 | 12449 |
| &nbsp;&nbsp;Change in fair value of contingent consideration |  | (1044) |  | (1044) |
| &nbsp;&nbsp;Loss (gain) on disposal of property and equipment |  | 1648 | (120) | 1648 |
| &nbsp;&nbsp;Loss (gain) on sale of AHT |  | 28 | (53) | (1221) |
| Income (loss) before taxes | $1352 | $(1595) | $6971 | $(11133) |

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| | |
|:---|:---|
| **Item 2.** | **Management's Discussion and Analysis of Financial Condition and Results of Operations.** |

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The following discussion and analysis of our financial condition and results of operations is intended to be read together with the unaudited condensed consolidated financial statements and related notes appearing elsewhere herein.

This discussion and analysis contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified generally by the use of forward-looking terminology and words such as "expects," "anticipates," "estimates," "believes," "intends," "plans," "potential," "may," "continue," "should," "will" and words of comparable meaning. Without limiting the generality of the preceding statement, all statements in this report relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and future financial results are forward-looking statements. We caution investors that any such forward-looking statements are only predictions and are not guarantees of future performance. Certain risks, uncertainties and other factors may cause actual results to differ materially from those projected in the forward-looking statements. These risks include:

***Risks Related to Our Industry***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• saturation of our target market and hospital consolidations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• unfavorable economic or market conditions that may cause a decline in spending for information technology and services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant legislative and regulatory uncertainty in the healthcare industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to liability for failure to comply with regulatory requirements;

***Risks Related to Our Business***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• transition to a subscription-based recurring revenue model and modernization of our technology;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competition with companies that have greater financial, technical and marketing resources than we have;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential future acquisitions that may be expensive, time consuming, and subject to other inherent risks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to attract and retain qualified personnel in a global workforce;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• disruption from periodic restructuring of our sales force;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• slower than anticipated development of the market for Financial Health services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our potential inability to manage our growth in the new markets we may enter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our potential failure to effectively implement a new enterprise resource planning software solution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to numerous and often conflicting laws, regulations, policies, standards or other requirements through our domestic and international business activities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential litigation against us and investigations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our use of offshore third-party resources;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competitive and litigation risk related to the use of artificial intelligence;

***Risks Related to Our Products and Services***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential failure to develop new products or enhance current products that keep pace with market demands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to claims if our products fail to provide accurate and timely information for clinical decision-making;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to claims for breaches of security and viruses in our systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• undetected errors or problems in new products or enhancements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our potential inability to convince customers to migrate to current or future releases of our products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to maintain our margins and service rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increase in the percentage of total revenues represented by service revenues, which have lower margins;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to liability in the event we provide inaccurate claims data to payors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to liability claims arising out of the licensing of our software and provision of services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• dependence on licenses of rights, products and services from third parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a failure to protect our intellectual property rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to significant license fees or damages for intellectual property infringement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• service interruptions resulting from loss of power and/or telecommunications capabilities;

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***Risks Related to Our Indebtedness***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our potential inability to secure additional financing on favorable terms to meet our future capital needs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• substantial indebtedness that may adversely affect our business operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to incur substantially more debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• pressures on cash flow to service our outstanding debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• restrictive terms of our credit agreement on our current and future operations;

***Risks Related to Our Common Stock and Other General Risks***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in and interpretations of financial accounting matters that govern the measurement of our performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the potential for our goodwill or intangible assets to become impaired;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• quarterly fluctuations in our financial results due to various factors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• volatility in our stock price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to maintain effective internal control over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• inherent limitations in our internal control over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• vulnerability to significant damage from natural disasters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to market risk related to interest rate changes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential material adverse effects due to macroeconomic conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we do not anticipate paying dividends on our common stock; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actions of activist stockholders against us could be disruptive and costly, or potentially cause uncertainty about the strategic direction of our business.

Information concerning these risks and other factors that could cause differences between forward-looking statements and future actual results is discussed under the heading "Risk Factors" in this report and in our Annual Report on Form 10-K for the year ended December 31, 2024.

**Background**

During much of the Company's history, our strategy, operations, and financial results have been largely associated with developments in the electronic health record ("EHR") industry. With the rapid maturity of the EHR industry and the increasing prevalence of and demand for outsourced revenue cycle management ("RCM") services and complementary solutions, we've seen our strategy, operations, and financial results naturally evolve to become more heavily associated with RCM, with Financial Health revenues comprising 64% of our consolidated revenue for 2024. In recognition of this significant shift in strategic focus, Computer Programs and Systems, Inc. changed its corporate name to TruBridge, Inc. on March 4, 2024. Contemporaneous with this name change, the former wholly-owned subsidiaries Evident, LLC, TruBridge, LLC, and TruCode, LLC were merged into the parent company, while the former wholly-owned subsidiary Rycan Technologies, Inc. was merged into its parent and another wholly-owned subsidiary, Healthland Holding Inc. With these changes, the Company's remaining legal structure includes TruBridge, Inc., the parent company, with Viewgol, LLC ("Viewgol"), TruBridge Healthcare Private Limited, iNetXperts, Corp. d/b/a Get Real Health, Healthcare Resource Group, Inc. ("HRG"), Healthland Holding, Inc. ("HHI"), and Healthland, Inc. as its wholly-owned direct and indirect subsidiaries.

Founded in 1979, TruBridge is a leading provider of healthcare technology solutions and services for rural and community hospitals, their clinics and other healthcare systems. Our combined companies are focused on helping improve the health of the communities we serve, connecting communities for a better patient care experience, and improving the financial operations of our customers.

The Company operates its business in two operating segments, which are also our reportable segments: Financial Health and Patient Care. The individual subsidiaries align with the reporting segments and contribute towards the combined focus of improving the health of the communities we serve as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Financial Health reporting segment focuses on providing business management, consulting, and managed IT services along with its complete RCM solution for all care settings, regardless of their primary healthcare information solutions provider. This reporting segment includes the operation of Viewgol, TruBridge Healthcare Private Limited, HRG, HHI, and Healthland.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Patient Care segment provides comprehensive acute care EHR solutions and related services for hospitals and their physician clinics. The Patient Care segment also offers comprehensive patient engagement and empowerment

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technology solutions through the Get Real Health entity to improve patient outcomes and engagement strategies with care providers.

Our companies currently support rural and community hospitals and other healthcare systems with a geographically diverse patient mix within the domestic healthcare market. Our target market for our Financial Health and Patient Care solutions includes rural and community hospitals with fewer than 400 acute care beds and their clinics, as well as independent or small to medium-sized chains of skilled nursing facilities. Most of our Patient Care customer base is comprised of hospitals with fewer than 100 beds.

See Note 17 - Segment Reporting of the condensed consolidated financial statements included herein for additional information on our two reportable segments.

**Management Overview**

***Strategy***

Our core strategy is to achieve meaningful long-term revenue growth by cross-selling Financial Health services into our existing Patient Care customer base, expanding Financial Health market share with sales to new hospitals and larger health systems, and pursuing competitive Patient Care takeaway opportunities in the acute care markets. We may also seek to grow through acquisitions of businesses, technologies or products if we determine that such acquisitions are likely to help us meet our strategic goals.

Our growth strategy is heavily dependent on our ability to cross-sell Financial Health services into our Patient Care customer base. Therefore, retention of our existing Patient Care customers is a key component of our long-term growth strategy by protecting this base of potential Financial Health customers, while at the same time serving as a leading indicator of our market position and stability of revenues and cash flows.

We determine net revenue retention rates by reference to the amount of Patient Care recurring revenues that have not been lost due to customer attrition from our production environment customer base in the current year period compared to the same period in the prior year. Production environment customers are those that are using our applications to document live patient encounters, as opposed to legacy environment customers that have view-only access to historical patient records. Since 2019, these retention rates have consistently remained in the mid-to-high 90 percent ranges. The retention rate for Patient Care in the last twelve months was 93.8% (the retention rate for the flagship TruBridge EHR product was 96.5%). We have increased customer retention efforts by enhancing support services, investing in tooling and instrumentation to proactively monitor for potential disruptions, and deploying in-application experience software that delivers application-specific insights while using our products.

As we pursue meaningful long-term revenue growth by leveraging Financial Health as a growth agent, we are placing ever-increasing value in further developing our already significant recurring revenue base to further stabilize our revenues and cash flows. Therefore, maintaining and growing recurring revenues are key components of our long-term growth strategy, aided by the aforementioned focus on customer retention. This includes a renewed focus on driving demand for subscriptions for our existing technology solutions and expanding the footprint for Financial Health services beyond our Patient Care customer base.

While the combination of revenue growth and operating leverage results in increased margin realization, we also look to increase margins through specific cost containment measures where appropriate as we continue to leverage opportunities for greater operating efficiencies.

***Artificial Intelligence***

We see both the value and risk of generative AI being leveraged in healthcare delivery and are committed to ensuring our client population is not left behind as this rapidly advancing technology is being implemented and adopted. We are active members of TRAIN (Trustworthy and Responsible AI Network), representing our customers alongside large Integrated Delivery Networks ("IDN") and health systems to help shape the governance and controls to implement AI safely, as well as allowing us a broad view of what is happening in the arena of healthcare in order to keep pace with the developments in the areas of denials management, AI assisted coding, Gen AI chart summarization and more. We are planning to release our first denials prediction model to the public during the first quarter of 2026. Within our innovation team, several pilots are unfolding to drive value for our clients from this technology. We also have several strategic partners we are in discussions with in order to integrate their solutions into our ecosystem.

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***Industry Dynamics***

Turbulence in the U.S. and worldwide economies and financial markets impacts almost all industries. While the healthcare industry is not immune to economic cycles, we believe it is more significantly affected by U.S. regulatory and national health initiatives. In recent years, there have been significant changes to provider reimbursement by the U.S. federal government, followed by commercial payers and state governments. There is increasing pressure on healthcare organizations to reduce costs and increase quality while replacing the fee-for-service reimbursement model in part by enrolling in an advanced payment model that incentivizes high-quality, cost-effective care via value-based reimbursement. This pressure could further encourage adoption of healthcare IT and increase demand for business management, consulting, and managed IT services, as the future success of these healthcare providers is greatly dependent upon their ability to engage with patient populations and to coordinate patient care across a multitude of settings, while optimizing operating efficiency along the way.

Additionally, the revenues of many of the Company's customers are highly reliant on Medicare, Medicaid and third-party payers' reimbursement funding rates. New legislation or additional changes in existing regulations could directly impact the governmental reimbursement programs in which the customers participate. Healthcare organizations with a large dependency on Medicare and Medicaid populations have been affected by the challenging financial condition of the federal government and many state governments and government programs.

We recognize that prospective hospital clients often do not have the necessary capital to make investments in information technology while those with the necessary capital have become more selective in their investments. Despite these challenges, we believe healthcare IT will be an area of continued investment due to its unique potential to improve safety and efficiency and reduce costs while meeting current and future regulatory, compliance, and government reimbursement requirements.

On July 4, 2025, H.R. 1, or the "One Big Beautiful Bill Act" ("OBBBA"), was signed into law in the U.S., which is expected to impact healthcare providers in the U.S., including us, primarily through changes to Medicaid and the Affordable Care Act, which could lead to reduced funding, increased regulatory burdens and potential shifts in patient populations among payer types and utilization. Supplemental federal and state guidance is expected to be issued in order to implement the various provisions of the OBBBA, many of which have effective dates in 2027 and 2028. Additionally, the OBBBA contains a broad range of tax reform provisions affecting businesses. The OBBBA reduced the Company's 2025 expected current tax liability as a result of the ability to deduct domestic research and development expenses, resulting in a current tax benefit for each of the three and nine months ended September 30, 2025.

The federal government entered a partial shutdown effective October 1, 2025. Although Medicare and Medicaid reimbursement generally remains available through a shutdown, our customers, which are largely rural hospitals, may experience delays in payment for services rendered and other effects related to government agencies operating at reduced capacity. We have not experienced any material impacts to our operations or financials but continue to monitor the impacts, if any, of this shut-down.

***Patient Care License Model Preferences***

Much of the variability in our periodic revenues and profitability has been and will continue to be due to changing demand for different license models for our technology solutions, with variability in operating cash flows further impacted by the financing decisions within those license models. Our technology solutions are generally deployed in one of two license models: (1) perpetual licenses, for which the related revenue is recognized effectively upon installation, and (2) "Software as a Service" or "SaaS" arrangements, including our Cloud Electronic Health Record ("Cloud EHR") offering, which generally result in revenue being recognized monthly as the services are provided over the term of the arrangement.

The overwhelming majority of our historical Patient Care installations have been under a perpetual license model, but customer demand has dramatically shifted towards a SaaS license model in the past several years. SaaS license models made up only 12% of annual new Patient Care installations in 2018, increasing to 100% during 2022 and through the first nine months of 2025. These SaaS offerings are attractive to our clients because this configuration allows them to obtain access to advanced software products without a significant initial capital outlay. We expect this trend to continue for the foreseeable future, with the resulting impact on the Company's consolidated financial statements being reduced Patient Care revenues in the period of installation in exchange for increased recurring periodic revenues (reflected in Patient Care revenues) over the term of the SaaS arrangement. This naturally places downward pressure on short-term revenue growth and profitability metrics, but benefits long-term revenue growth and profitability which, in our view, is consistent with our goal of delivering long-term shareholder value.

For customers electing to purchase our technology solutions under a traditional perpetual license, we have historically made financing arrangements available on a case-by-case basis, depending on the various aspects of the proposed contract and customer attributes. These financing arrangements have comprised the majority of our perpetual license installations over the

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past several years, and include short-term payment plans and longer-term lease financing through us or third-party financing companies. The aforementioned shift in customer preference and the Company's turn towards SaaS arrangements has significantly reduced the frequency of new financing arrangements for customer purchases under a perpetual license. When combined with scheduled payments on existing financing arrangements, the reduced frequency of new financing arrangements has resulted in a substantial reduction in financing receivables during 2024 and the first nine months of 2025.

***Margin Optimization Efforts***

Our core growth strategy includes margin optimization by identifying opportunities to further improve our cost structure by executing against initiatives related to organizational realignment, expanded use of offshore resources and the use of automation to increase the efficiency and value of our associates' efforts. Specifically, since 2021, we have implemented a reduction in force intended to more effectively align our resources with business priorities and the Scaled Agile Framework® throughout our EHR product development, implementation and support functions to enhance cohesion, time-to-market and customer satisfaction. This framework is a set of organization and workflow patterns intended to guide enterprises in scaling lean and agile practices and promote alignment, collaboration, and delivery across large numbers of agile teams.

Additionally, margin optimization initiatives of expanded utilization of offshore resources and automation have commenced and, to date, have provided meaningful efficiencies to our operations, particularly within the Financial Health business. As a service organization, Financial Health's cost structure is heavily dependent upon human capital, subjecting it to the complexities and risks associated with this resource. Chief among these complexities and risks is the ever-present pressure of wage inflation, which has compelled the Company to make compensation adjustments that are outside of historical norms. Prior to our October 2023 acquisition of Viewgol, we were solely reliant upon third-party partnerships for offshore resources, increasing both the execution risk of this initiative and the related cost of scaling this labor force. With Viewgol as a subsidiary, we have greatly enhanced our control over the resource availability for this initiative and we have achieved and expect to continue to achieve meaningful per-unit cost efficiencies.

We believe that our efforts towards margin optimization are well-timed, enabling a rapid response to actual or expected wage inflation in order to preserve Financial Health profitability, but we cannot guarantee that these efforts will fully eliminate any related margin deterioration. Our operating results have been, and may continue to be, adversely affected by continued inflation, especially if we are unable to pass on increased costs of labor, materials, supplies and equipment, and potential tariffs to our customers.

In addition to wage inflation, we are a party to contracts with certain third-party suppliers and vendors that allow for annual price adjustments indexed to inflation rates. While we continually seek to proactively manage controllable expenses, inflationary pressure on costs has led to, and could lead to, erosion in margins.

**Results of Operations**

During the first nine months of 2025, we generated revenues of $259.0 million from the sale of our products and services, compared to $254.4 million during the first nine months of 2024, an increase of 2% due to increased revenues across both of our reporting segments. Net income increased by $24.0 million to net income of $8.6 million during the first nine months of 2025, compared to net loss of $15.4 million during the first nine months of 2024. The increase was primarily driven by (i) revenue growth; (ii) reduction in costs due to the global offshore initiative and labor cost optimization; (iii) lower non-recurring and severance costs; (iv) lower depreciation and amortization, including $2.9 million of accelerated amortization of software development costs associated with the sunset of one of the Company's products in the second quarter of 2024.

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The following table sets forth certain items included in our results of operations for the three and nine months ended September 30, 2025 and 2024, expressed as a percentage of our total revenues for these periods:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| | 2025 | 2025 | 2024 | 2024 | 2025 | 2025 | 2024 | 2024 |
| *(In thousands)* | Amount | % Sales | Amount | % Sales | Amount | % Sales | Amount | % Sales |
| INCOME DATA: |  |  |  |  |  |  |  |  |
| **Revenues** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $54501 | 63.3% | $54672 | 64.5% | $164918 | 63.7% | $162620 | 63.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 31605 | 36.7% | 30028 | 35.5% | 94125 | 36.3% | 91796 | 36.1% |
| Total revenues | 86106 | 100.0% | 84700 | 100.0% | 259043 | 100.0% | 254416 | 100.0% |
| **Expenses** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Costs of revenues (exclusive of amortization and depreciation) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Health | 29335 | 34.1% | 29185 | 34.5% | 85835 | 33.1% | 89051 | 35.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 12713 | 14.8% | 13184 | 15.6% | 36996 | 14.3% | 38421 | 15.1% |
| &nbsp;&nbsp;Total costs of revenues (exclusive of amortization and depreciation) | 42048 | 48.8% | 42369 | 50.0% | 122831 | 47.4% | 127472 | 50.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Product development | 8171 | 9.5% | 7735 | 9.1% | 24530 | 9.5% | 26629 | 10.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 5673 | 6.6% | 5944 | 7.0% | 19123 | 7.4% | 20351 | 8.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 19416 | 22.5% | 19376 | 22.9% | 56957 | 22.0% | 57651 | 22.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | 6487 | 7.5% | 6183 | 7.3% | 18901 | 7.3% | 21158 | 8.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 243 | 0.3% | 279 | 0.3% | 846 | 0.3% | 1079 | 0.4% |
| Total expenses | 82038 | 95.3% | 81886 | 96.7% | 243188 | 93.9% | 254340 | 100.0% |
| Operating income | 4068 | 4.7% | 2814 | 3.3% | 15855 | 6.1% | 76 | —% |
| Other (expense) income : |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (3003) | (3.5)% | (4033) | (4.8)% | (9450) | (3.6)% | (12348) | (4.9)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (expense) | 287 | 0.3% | (376) | (0.4)% | 566 | 0.2% | 1139 | 0.4% |
| Total other expense | (2716) | (3.2)% | (4409) | (5.2)% | (8884) | (3.4)% | (11209) | (4.4)% |
| Income (loss) before taxes | 1352 | 1.6% | (1595) | (1.9)% | 6971 | 2.7% | (11133) | (4.4)% |
| (Benefit from) provision for income taxes | (4250) | (4.9)% | 7553 | 8.9% | (1670) | (0.6)% | 4257 | 1.7% |
| Net income (loss) | $5602 | 6.5% | $(9148) | (10.8)% | $8641 | 3.3% | $(15390) | (6.0)% |

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**Three Months Ended September 30, 2025 Compared with Three Months Ended September 30, 2024** 

***Revenues***

Total revenues for the three months ended September 30, 2025 increased by $1.4 million compared to the three months ended September 30, 2024.

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| | | |
|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 |
| Recurring revenues |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $53514 | $53513 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 27425 | 27052 |
| &nbsp;&nbsp;Total recurring revenues | 80939 | 80565 |
| Non-recurring revenues |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | 987 | 1159 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 4180 | 2976 |
| &nbsp;&nbsp;Total non-recurring revenues | 5167 | 4135 |
| Total revenues | $86106 | $84700 |

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Financial Health revenues decreased by $0.2 million compared to the third quarter of 2024. The decrease in revenue was driven by customer attrition, partially offset by increased revenue generated from new bookings. Recurring Financial Health revenues of $53.5 million, or 98% of total Financial Health revenues, were flat compared to the prior year period, as increased revenue from new bookings was offset by customer attrition. Non-recurring Financial Health revenues decreased by $0.2 million, primarily from fewer short-term consulting projects compared to the prior year period.

Patient Care revenues increased by $1.6 million, or 5%, compared to the third quarter of 2024, primarily due to an increase in revenue from EHR installations, new SaaS contracts, and migrations to SaaS arrangements, partially offset by the impact from the sunset of our Centriq product. Centriq revenue accounted for $0.9 million in the third quarter of 2025, compared to $1.8 million in the third quarter of 2024. Patient Care revenue excluding Centriq was $30.7 million in the third quarter of 2025, up 9% from $28.2 million in the third quarter of 2024. Recurring Patient Care revenues, which represented 87% of total Patient Care revenues, increased by $0.4 million, or 1%, compared to the third quarter of 2024, primarily due to an increase in SaaS revenue from migration to SaaS arrangements and new bookings. Non-recurring Patient Care revenues increased by $1.2 million compared to the third quarter of 2024, due to the timing of installations compared to the prior year period.

***Costs of Revenues (exclusive of amortization and depreciation)***

Total costs of revenues (exclusive of amortization and depreciation) decreased by $0.3 million compared to the third quarter of 2024. As a percentage of total revenues, costs of revenues (exclusive of amortization and depreciation) decreased to 49% of revenues during the third quarter of 2025 compared to 50% of revenues during the third quarter of 2024.

Costs associated with our Financial Health revenues increased by $0.2 million, or 1%, compared to the third quarter of 2024, primarily driven by a modest increase in vendor spend supporting revenue growth.

Costs associated with our Patient Care revenues decreased by $0.5 million, or 4%, compared to the third quarter of 2024, primarily due to a reduction in travel and software costs.

***Product Development***

Product development expenses consist primarily of compensation and other employee-related costs (including stock-based compensation) and infrastructure costs incurred, but not capitalized, for new product development and product enhancements. Product development costs increased by $0.4 million, or 5%, compared to the third quarter of 2024, primarily due to investments supporting the Encoder business and an increase in cloud expense.

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***Sales and Marketing***

Sales and marketing costs decreased by $0.3 million, or 5%, compared to the third quarter of 2024, primarily driven by lower commissions due to the product mix of bookings.

***General and Administrative***

General and administrative expenses increased by $0.04 million, or 0.2%, compared to the third quarter of 2024. This change was primarily driven by increased professional service fees, partially offset by a decrease in severance costs and bad debt expense.

***Amortization & Depreciation***

Combined amortization and depreciation expense increased by $0.3 million, or 4%, compared to the third quarter of 2024, driven by capitalized software amortization.

***Total Other Expense***

Total other expense decreased by $1.7 million during the third quarter of 2025 compared to the third quarter of 2024. The decrease was driven by a reduction in interest expense due to a decrease in the outstanding balance of the revolving credit facility and a reduction in the interest rate.

***Income (Loss) Before Taxes***

As a result of the foregoing factors, income (loss) before taxes increased by $2.9 million, to income before taxes of $1.4 million in the third quarter of 2025 compared to a loss before taxes of $1.6 million in the third quarter of 2024.

***(Benefit from) Provision for Income Taxes***

Our effective tax rate for the three months ended September 30, 2025 was (314.3)%, compared to (473.5)% for the three months ended September 30, 2024. The Company recognized $4.3 million of benefit for the three months ended September 30, 2025. On July 4, 2025, H.R. 1, or the "One Big Beautiful Bill Act" ("OBBBA") was signed into law in the U.S., which contains a broad range of tax reform provisions affecting businesses. The OBBBA reduced the Company's 2025 expected current tax liability as a result of the ability to deduct domestic research and development expenses, resulting in a current tax benefit for the three months ended September 30, 2025. The estimated effects of the OBBBA are reflected in the third quarter provision. In addition, there was a decrease related to the windfall tax benefit from the restricted shares vested year to date, as well as a benefit arising from a change in estimate related to finalizing the 2024 tax returns

***Net Income (Loss)***

As a result of the foregoing factors, net income (loss) for the third quarter of 2025 increased by $14.8 million to net income of $5.6 million, or $0.37 per basic and diluted share, compared to a net loss of $9.1 million, or $(0.61) per basic and diluted share, for the third quarter of 2024.

**Nine Months Ended September 30, 2025 Compared with Nine Months Ended September 30, 2024** 

***Revenues***

Total revenues for the nine months ended September 30, 2025 increased by $4.6 million, or approximately 2%, compared to the nine months ended September 30, 2024.

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| | | |
|:---|:---|:---|
| | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 |
| Recurring revenues |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $162100 | $158426 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 82988 | 82730 |
| &nbsp;&nbsp;Total recurring revenues | 245088 | 241156 |
| Non-recurring revenues |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | 2818 | 4194 |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 11137 | 9066 |
| &nbsp;&nbsp;Total non-recurring revenues | 13955 | 13260 |
| Total revenues | $259043 | $254416 |

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Financial Health revenues for the nine months ended September 30, 2025 increased by $2.3 million, or 1%, compared to the first nine months of 2024, primarily driven by year over year growth from new bookings, partially offset by customer attrition. Recurring Financial Health revenues were $162.1 million, or 98% of total Financial Health revenues, which increased by $3.7 million compared to the prior year period as increased revenue from new bookings was offset by customer attrition. Non-recurring Financial Health revenue decreased by $1.4 million, primarily from fewer short-term consulting projects compared to the prior year period.

Patient Care revenues for the nine months ended September 30, 2025 increased by $2.3 million, or 3%, compared to the first nine months of 2024, primarily due to an increase in revenue from EHR installations and SaaS revenue from new contracts, partially offset by the divestiture of AHT and the impact from the sunset of our Centriq product. Centriq and AHT combined revenue accounted for $2.8 million in the first nine months of 2025, compared to $6.7 million in the first nine months of 2024. Patient Care revenue excluding Centriq and AHT was $91.3 million in the first nine months of 2025, up 7% from $85.1 million in the first nine months of 2024. Recurring Patient Care revenues, which represent 88% of total Patient Care revenues, increased by $0.3 million, or 0.3%, compared to the first nine months of 2024, primarily due to migration to SaaS arrangements partially offset by a decline in revenue as a result of the Centriq sunset. Non-recurring Patient Care revenues increased by $2.1 million compared to the first nine months of 2024, due to an increase in installation revenue from new contracts.

***Costs of Revenues (exclusive of amortization and depreciation)***

Total costs of revenues decreased by $4.6 million compared to the first nine months of 2024. As a percentage of total revenues, costs of revenue decreased to 47% of revenues during the first nine months of 2025 compared to 50% during the first nine months of 2024.

Costs associated with Financial Health revenues decreased by $3.2 million, or 4%, compared to the first nine months of 2024, primarily driven by a reduction in domestic labor costs as a result of the transition to the global workforce and the effects of the 2024 cost optimization initiative.

Costs of Patient Care revenues decreased by $1.4 million, or 4%, compared to the first nine months of 2024, primarily due to lower software and offshore costs.

***Product Development***

Product development expenses consist primarily of compensation and other employee-related costs (including stock-based compensation) and infrastructure costs incurred, but not capitalized, for new product development and product enhancements. Product development costs decreased by $2.1 million, or 8%, compared to the first nine months of 2024, primarily due to labor savings as a result of the 2024 cost optimization initiative.

***Sales and Marketing***

Sales and marketing costs decreased by $1.2 million, or 6%, compared to the first nine months of 2024, primarily driven by lower commissions due to the product mix of bookings, partially offset by higher marketing program costs.

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***General and Administrative***

General and administrative expenses decreased by $0.7 million, or 1%, compared to the first nine months of 2024. This change was primarily driven by a decrease in severance and other nonrecurring costs, including costs related to the integration of Viewgol and TruBridge rebranding, partially offset by increased payroll, professional service fees, and other administrative expenses.

***Amortization & Depreciation***

Combined amortization and depreciation expense decreased by $2.5 million, or 11%, compared to the first nine months of 2024, primarily due to $2.9 million of accelerated amortization of software development costs associated with the sunset of one of the Company's products in the second quarter of 2024, partially offset by increased capitalized software amortization.

***Total Other Expense***

Total other expense decreased to $8.9 million during the first nine months of 2025, compared to $11.2 million during the first nine months of 2024. This decrease was driven by a reduction in interest expense due to a decrease in outstanding debt balances and a lower interest rate, partially offset by a $1.2 million gain recognized on the sale of AHT during the first quarter of 2024.

***Income (Loss) Before Taxes***

As a result of the foregoing factors, income before taxes increased by $18.1 million, to income before taxes of $7.0 million in the first nine months of 2025 compared to a loss before taxes of $11.1 million in the first nine months of 2024.

***(Benefit from) Provision for Income Taxes***

Our effective tax rate for the nine months ended September 30, 2025, was (24.0)%, compared to 38.2% for the nine months ended September 30, 2024. The Company recognized $1.7 million of benefit for the nine months ended September 30, 2025. On July 4, 2025, H.R. 1, or the "One Big Beautiful Bill Act" ("OBBBA") was signed into law in the U.S., which contains a broad range of tax reform provisions affecting businesses. The OBBBA reduced the Company's 2025 expected current tax liability as a result of the ability to deduct domestic research and development expenses, resulting in a current tax benefit for the nine months ended September 30, 2025. The estimated effects of the OBBBA are reflected in the third quarter provision. In addition, there was a decrease related to the windfall tax benefit from the restricted shares vested year to date, as well as a benefit arising from a change in estimate related to finalizing the 2024 tax returns.

***Net Income (Loss)***

Net income for the first nine months of 2025 increased by $24.0 million to net income of $8.6 million, or $0.58 per basic and diluted share, compared to a net loss of $15.4 million, or $(1.04) per basic and diluted share, for the first nine months of 2024.

***Supplemental Segment Information***

Our reportable segments have been determined in accordance with ASC 280 - *Segment Reporting*. We have two reportable operating segments: Financial Health and Patient Care. We evaluate each of our two operating segments based on segment revenues and segment Adjusted EBITDA (as defined below).

"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 intangibles; (iv) stock-based compensation; (v) severance and other non-recurring charges; (vi) interest expense and other income; (vii) gain on sale of AHT; (viii) gain on disposal of property and equipment; (ix) change in fair value of contingent consideration; and (x) the provision for (benefit from) income taxes. The segment measurements provided to and evaluated by the chief operating decision maker ("CODM") are described in Note 17 - Segment Reporting of the condensed consolidated financial statements. These results should be considered in addition to, and not as a substitute for, results reported in accordance with GAAP.

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The following table presents a summary of the revenues and Adjusted EBITDA of our two operating segments for the three and nine months ended September 30, 2025 and 2024:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Change | Nine Months Ended September 30, | Nine Months Ended September 30, | Change |
| | 2025 | 2024 | $% | 2025 | 2024 | $% |
| *(In thousands)* |  |  |  |  |  |  |
| Revenues by segment: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $54501 | $54672 | 0% | $164918 | $162620 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 31605 | 30028 | 5% | 94125 | 91796 | 3% |
| Total revenues | $86106 | $84700 | 2% | $259043 | $254416 | 2% |
| Adjusted EBITDA by segment: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Health | $8872 | $9964 | (11)% | $27244 | $24970 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Patient Care | 7400 | 4728 | 57% | 21001 | 13490 | 56% |
| Total Adjusted EBITDA | $16272 | $14692 | 11% | 48245 | 38460 | 25% |

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***Segment Revenues***

Refer to the corresponding discussion of revenues for each of our reportable segments previously provided under the *Revenues* heading of this Management's Discussion and Analysis. There are no intersegment revenues to be eliminated in computing segment revenue.

***Segment Adjusted EBITDA - Three Months Ended September 30, 2025 Compared with Three Months Ended September 30, 2024***

Financial Health Adjusted EBITDA decreased by $1.1 million, or 11%, compared to the third quarter of 2024, primarily due to customer attrition and increased product development costs, partially offset by a reduction in domestic labor costs as a result of the transition to the global workforce.

Patient Care Adjusted EBITDA increased by $2.7 million, or 57%, compared to the third quarter of 2024, primarily due to an increase in installation and SaaS revenues, and a decrease in software and product development expenses, partially offset by the impact of the sunset of our Centriq product.

***Segment Adjusted EBITDA - Nine Months Ended September 30, 2025 Compared with Nine Months Ended September 30, 2024***

Financial Health adjusted EBITDA increased by $2.3 million, or 9%, compared to the first nine months of 2024. This increase was due to year over year growth from new bookings and a reduction in domestic labor costs as a result of the transition to the global workforce, partially offset by increased product development and administrative costs.

Patient Care adjusted EBITDA increased by $7.5 million, or 56%, compared to the first nine months of 2024. This increase was primarily a result of an increase in installation and SaaS revenues and a decrease in software and product development expenses, partially offset by increased administrative costs.

**Liquidity and Capital Resources**

***Sources of Liquidity***

As of September 30, 2025, the aggregate principal amount of our credit facilities was $230.0 million, which included a $70.0 million term loan facility and a $160.0 million revolving credit facility. As of September 30, 2025, we had $165.2 million in principal amount of indebtedness outstanding under the credit facilities.

As of September 30, 2025, we had cash and cash equivalents of $19.9 million and remaining borrowing capacity under the revolving credit facility of $48.6 million, compared to $12.3 million of cash and cash equivalents and $43.6 million of remaining borrowing capacity under the revolving credit facility as of December 31, 2024. We believe that these funding sources, taken together with the future operating cash flows of the combined entity, provide adequate resources to fund ongoing

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cash requirements for the next twelve months and beyond. We cannot provide assurance that our actual cash requirements will not be greater than we expect as of the date of filing of this Form 10-Q. If sources of liquidity are not available or if we cannot generate sufficient cash flow from operations during the next twelve months, we may be required to obtain additional sources of funds through additional operational improvements, capital market transactions, asset sales or financing from third parties, a combination thereof or otherwise. We cannot provide assurance that these additional sources of funds will be available or, if available, would have reasonable terms. Aside from normal operating cash requirements, obligations under our Credit Agreement (as discussed below) and operating leases, and opportunistic uses of capital in share repurchases and business acquisition transactions, we do not have any material cash commitments or planned cash commitments. Although the Company currently has no obligations related to planned acquisitions, the Company's strategy includes the potential for future acquisitions, which may be funded through draws on the credit facilities or the use of the other sources of liquidity described above.

During February 2024, the Company used a portion of the proceeds received from the sale of AHT to repay $7.0 million of the outstanding balance of the revolving credit facility. Since the first quarter of 2024, the Company has made incremental payments totaling $15.0 million on the credit facilities, including an incremental payment of $5.0 million on the revolving credit facility during the nine months ended September 30, 2025.

***Operating Cash Flow Activities***

Net cash provided by operating activities increased by $6.3 million to $28.1 million for the nine months ended September 30, 2025, compared to net cash provided by operating activities of $21.8 million for the nine months ended September 30, 2024. This increase in cash flows provided by operations was primarily due to the aforementioned increase in net income, partially offset by the increase of income tax payments, accounts receivable, and deferred revenue.

***Investing Cash Flow Activities***

Net cash (used in) provided by investing activities decreased by $16.7 million, to cash used in investing activities of $10.9 million during the nine months ended September 30, 2025, compared to cash provided by investing activities of $5.8 million during the nine months ended September 30, 2024. This decrease was primarily the result of the sale of AHT, which resulted in a net cash inflow of $21.4 million during the nine months ended September 30, 2024, partially offset by a decrease in investments in software development.

***Financing Cash Flow Activities***

During the nine months ended September 30, 2025, our financing activities were a net use of cash in the amount of $9.6 million, as long-term debt principal payments of $23.0 million and $1.9 million used to repurchase shares of our common stock, which are treated as treasury stock, were partially offset by $15.4 million in borrowings from our revolving line of credit. Financing activities were a net use of cash in the amount of $22.9 million during the nine months ended September 30, 2024, as long-term debt principal payments of $45.7 million and $0.4 million used to repurchase shares of our common stock, which are treated as treasury stock, were partially offset by $23.8 million in borrowings from our revolving line of credit.

***Credit Agreement***

As of September 30, 2025, we had $53.8 million in principal amount outstanding under the term loan facility and $111.4 million in principal amount outstanding under the revolving credit facility. Each of our credit facilities continues to bear interest at a rate per annum equal to an applicable margin plus, at our option, either (1) the Adjusted SOFR rate for the relevant interest period, subject to a floor of 0.50%, (2) an alternate base rate determined by reference to the greater of (a) the prime lending rate of Regions, (b) the federal funds rate for the relevant interest period plus one half of one percent per annum and (c) the one month SOFR rate, subject to the aforementioned floor, plus one percent per annum, or (3) a combination of (1) and (2). The applicable margin for SOFR loans and the letter of credit fee ranges from 1.8% to 3.0%. The applicable margin for base rate loans ranges from 0.8% to 2.0%, in each case based on the Company's consolidated net leverage ratio. As of September 30, 2025, the revolving credit facility had an average interest rate of 6.92%.

Principal payments with respect to the term loan facility are due on the last day of each fiscal quarter beginning June 30, 2022, with quarterly principal payments of approximately $0.9 million through March 31, 2027, with maturity on May 2, 2027 or such earlier date as the obligations under the Amended and Restated Credit Agreement, as amended by the First Amendment, become due and payable pursuant to the terms of such agreement. Any principal outstanding under the revolving credit facility is due and payable on the maturity date.

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Our credit facilities are secured pursuant to the Amended and Restated Credit Agreement, dated as of June 16, 2020, among the parties identified as obligors therein and Regions, as collateral agent, on a first priority basis by a security interest in substantially all of the tangible and intangible assets (subject to certain exceptions) of the Company and certain subsidiaries of the Company, as guarantors (collectively, the "Subsidiary Guarantors"), including certain registered intellectual property and the capital stock of certain of the Company's direct and indirect subsidiaries. Our obligations under the Amended and Restated Credit Agreement are also guaranteed by the Subsidiary Guarantors. Refer to Note 13 of the condensed consolidated financial statements included herein for additional detail regarding our credit facilities.

**Backlog**

Backlog consists of revenues we reasonably expect to recognize over the next twelve months under existing contracts. The revenues to be recognized may relate to a combination of one-time fees for system sales and recurring fees for support and maintenance and RCM services. As of September 30, 2025, we had a twelve-month backlog of approximately $4.0 million in connection with non-recurring system purchases and approximately $321.0 million in connection with recurring payments under support and maintenance and RCM services. As of September 30, 2024, we had a twelve-month backlog of approximately $8.0 million in connection with non-recurring system purchases and approximately $320.0 million in connection with recurring payments under support and maintenance and RCM services.

**Bookings**

Bookings are a key operational metric used by management to assess the relative success of our sales generation efforts, and were as follows for the three and nine months ended September 30, 2025 and 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended September 30, | Three Months Ended September 30, | Nine Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2024 | 2025 | 2024 |
| Financial Health <sup>(1)</sup> | $9507 | $12496 | $35992 | $40346 |
| Patient Care<sup>(2)</sup> | 5996 | 8454 | 27105 | 27464 |
| Total bookings | $15503 | $20950 | $63097 | $67810 |
| <sup>(1)</sup> Generally calculated as the annual contract value | <sup>(1)</sup> Generally calculated as the annual contract value | <sup>(1)</sup> Generally calculated as the annual contract value | <sup>(1)</sup> Generally calculated as the annual contract value | <sup>(1)</sup> Generally calculated as the annual contract value |
| <sup>(2)</sup> Generally calculated as the total contract value for system sales and SaaS, and annual contract value for maintenance and support | <sup>(2)</sup> Generally calculated as the total contract value for system sales and SaaS, and annual contract value for maintenance and support | <sup>(2)</sup> Generally calculated as the total contract value for system sales and SaaS, and annual contract value for maintenance and support | <sup>(2)</sup> Generally calculated as the total contract value for system sales and SaaS, and annual contract value for maintenance and support | <sup>(2)</sup> Generally calculated as the total contract value for system sales and SaaS, and annual contract value for maintenance and support |

---

*Financial Health*

Financial Health bookings during the third quarter of 2025 decreased by $3.0 million, or 24%, from the third quarter of 2024, driven by delays in customer decisions in net-new bookings, which decreased by $4.5 million, or 79%, excluding Viewgol. This was partially offset by an increase in cross-sell bookings of $0.7 million, or 11%, and an increase in Viewgol bookings of $0.8 million during the third quarter of 2025 compared to the prior year quarter.

Financial Health bookings during the first nine months of 2025 decreased by $4.4 million, or 11%, from the first nine months of 2024. Net-new bookings decreased by $6.9 million, or 37%, partially offset by an increase in cross-sell bookings of $2.4 million, or 13%, excluding Viewgol. Viewgol bookings increased by $0.1 million during the first nine months of 2025, compared to the prior year period.

*Patient Care*

Patient Care bookings decreased during the third quarter of 2025 by $2.5 million, or 29%, compared to the third quarter of 2024. This was primarily due to net-new bookings decreasing by $1.7 million, or 95%, and cross-sell bookings decreasing by $0.7 million, or 11%, mainly due to delays in customer decisions.

Patient Care bookings decreased during the first nine months of 2025 by $0.4 million, or 1%, compared to the first nine months of 2024. This was primarily due to cross-sell bookings decreasing by $4.8 million, or 25%, partially offset by net-new bookings increasing by $4.5 million, or 54%.

"Net-new bookings" represent bookings from outside the Company's core client base, and "cross-sell bookings" represent bookings from existing customers. In each case, such bookings are generally comprised of recurring revenues to be recognized ratably over a one-year period and an average timeframe for bookings-to-revenue conversion of four to six months following contract execution.

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***Annual Contract Value*** 

Effective January 2025, the Company will be providing bookings on an Annual Contract Value ("ACV") basis in addition to the reported bookings amounts, which has historically represented a mix of ACV and Total Contract Value ("TCV") for Patient Care. This new methodology of reporting total bookings at ACV represents the newly contracted revenue that is expected to be recognized over a twelve-month period. Over the course of 2025, the Company will be providing total bookings under both methodologies for year-over-year comparability before fully transitioning to ACV in 2026.

The table below represents bookings using the ACV methodology for the three and nine months ended September 30, 2025:

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| | | |
|:---|:---|:---|
| | Three Months Ended September 30, | Nine Months Ended September 30, |
| *(In thousands)* | 2025 | 2025 |
| Financial Health | $9507 | $35992 |
| Patient Care | 5545 | 16026 |
| Total bookings | $15052 | $52018 |

---

Reported bookings may be subject to adjustments and potential cancellations prior to the satisfaction of the obligations to our customers. Our metrics may vary significantly from period to period for reasons unrelated to our operating performance and may differ from similarly titled measures presented by other companies.

**Critical Accounting Policies and Estimates**

Our Management Discussion and Analysis is based upon our condensed consolidated financial statements, which have been prepared in accordance with U.S. GAAP. The preparation of these financial statements requires us to make subjective or complex judgments that may affect the reported financial condition and results of operations. We base our estimates on historical experience and other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the reported values of assets, liabilities, revenues, expenses and other financial amounts that are not readily apparent from other sources. Actual results may differ from these estimates and these estimates may differ under different assumptions or conditions. We continually evaluate the information used to make these estimates as our business and the economic environment changes.

In our Annual Report on Form 10-K for the year ended December 31, 2024, we identified our critical accounting policies and estimates related to revenue recognition, allowance for credit losses, business combinations, including purchased intangible assets, software development costs, and estimates. There have been no significant changes to these critical accounting policies during the nine months ended September 30, 2025.

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| | |
|:---|:---|
| **Item 3.** | **Quantitative and Qualitative Disclosures about Market Risk.** |

---

Our exposure to market risk relates primarily to the potential fluctuations in the Secured Overnight Financing Rate ("SOFR"), which replaced the British Bankers Association London Interbank Offered Rate ("LIBOR") as the new benchmark interest rate for our credit facilities. We had $165.2 million of outstanding borrowings under our credit facilities with Regions Bank at September 30, 2025. The term loan facility and revolving credit facility bear interest at a rate per annum equal to an applicable margin plus, at our option, either (1) the Adjusted SOFR rate for the relevant interest period, subject to a floor of 0.50%, (2) an alternate base rate determined by reference to the greater of (a) the prime lending rate of Regions, (b) the federal funds rate for the relevant interest period plus one half of one percent per annum and (c) the one month SOFR rate, subject to the aforementioned floor, plus one percent per annum, or (3) a combination of (1) and (2). Accordingly, we are exposed to fluctuations in interest rates on borrowings under the credit facilities. A one hundred basis point change in interest rate on our borrowings outstanding as of September 30, 2025 would result in a change in interest expense of approximately $1.7 million annually.

We did not have investments as of September 30, 2025 and do not utilize derivative financial instruments to manage our interest rate risks.

------

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| | |
|:---|:---|
| **Item 4.** | **Controls and Procedures.** |

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*Evaluation of Disclosure Controls and Procedures*

We maintain disclosure controls and procedures that are designed to provide reasonable assurance that the information required to be disclosed by us in reports that we file or submit under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), is recorded, processed, summarized and reported within the time periods specified in the rules and forms promulgated by the Securities and Exchange Commission, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Because of the inherent limitations to the effectiveness of any system of disclosure controls and procedures, no evaluation of disclosure controls and procedures can provide absolute assurance that all control issues and instances of fraud, if any, with a company have been prevented or detected on a timely basis. Even disclosure controls and procedures determined to be effective can only provide reasonable assurance that their objectives are achieved.

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e)) pursuant to Rule 13a-15 of the Exchange Act. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective at the reasonable assurance level.

*Material Weakness in Internal Control over Financial Reporting* 

A material weakness is a significant deficiency, or combination of significant deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company's annual or interim financial statements will not be prevented or detected on a timely basis.

As of December 31, 2024, the Company's management determined that a material weakness existed in that the Company's management did not design and maintain effective process level control over the recording of revenue transactions which appropriately considered (1) shifts in the Company's service and product offerings which result in different revenue recognition patterns, (2) customer contract additions, modifications or terminations, (3) contracts requiring manual intervention in the customer billing and/or revenue recognition process, (4) timely recognition of customer credits and rebills, and (5) individual contract terms which require recognition over time vs. a point in time.

The material weakness described above did not result in any material misstatements in our financial statements or disclosures for any period presented in the accompanying condensed consolidated financial statements. This material weakness could create a reasonable possibility that a material misstatement in our consolidated financial statements would not be prevented or detected on a timely basis.

Management has concluded that the material weakness described above existed as of December 31, 2024 and continued through September 30, 2025.

*Management's Remediation Efforts*

To address the material weakness described above, the Company is in the process of redesigning existing and implementing additional controls and procedures. We have begun implementation of customer contract life cycle management tools to ensure we maintain a complete, accurate and up-to-date inventory of customer contracts. We developed a detailed remediation plan to aid in the establishment of robust preventative controls. Additionally, we continue to strengthen the Company's finance team and are working to build strong channels of communication and enhanced coordination between functions.

While the Company believes these efforts are strengthening its internal control over financial reporting, the Company will not be able to conclude whether the steps taken by the Company have remediated the material weakness in internal control over financial reporting described above until a period of time has passed to allow management to test the design and operating effectiveness of the new and enhanced controls.

We believe that the foregoing actions will support the improvement of our internal control over financial reporting, and, through our continuous efforts to identify, design, and implement the necessary control activities, will be effective in remediating the material weakness. We will continue to devote time and attention to these remediation efforts. As we continue to evaluate and work to improve our internal control over financial reporting, management may determine to take additional measures to address the material weakness or determine to modify the remediation plan described above.

------

*Changes in Internal Control over Financial Reporting*

Except for the remediation activities that are being implemented, as described above, there were no changes in the Company's internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f)) during the quarter ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

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**PART II**

**OTHER INFORMATION**

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| | |
|:---|:---|
| **Item 1.** | **Legal Proceedings.** |

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From time to time, the Company is involved in routine litigation that arises in the ordinary course of business. Management does not believe it is reasonably possible that such matters will have a material adverse effect on the Company's financial statements.

During the third quarter of 2025, the Company received a request from VG Sellers, Inc. that the parties engage in an accounting arbitration concerning the earnout provisions agreed to in the October 16, 2023 Securities Purchase Agreement, pursuant to which the Company acquired Viewgol, LLC. VG Sellers, Inc. seeks the maximum earnout amount payable under the Securities Purchase Agreement. The Company firmly believes that no earnout amount is due to VG Sellers, Inc. pursuant to the Securities Purchase Agreement. VG Sellers, Inc. also threatened to commence litigation concerning the earnout provisions. There are numerous factors that make it difficult to estimate reasonably possible loss or range of loss, including the significant number of legal, accounting, and factual issues to be resolved. The Company is currently unable to estimate the potential liability with respect to those disputed issues. The Company intends to vigorously defend its positions on the issues.

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| | |
|:---|:---|
| **Item 1A.** | **Risk Factors.** |

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In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, which could materially affect our business, financial condition or future results. The risks described in our Annual Report on Form 10-K are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem immaterial also may materially adversely affect our business, financial condition or operating results. There have been no material changes to the risk factors disclosed in Part 1, "Item 1A. Risk Factors" in our Annual Report on Form 10-K, other than as described in the risk factor below.

***There is significant uncertainty in the healthcare industry, both as a result of recently enacted legislation and changing government regulation, which may have a material adverse impact on the businesses of our hospital clients and ultimately on our business, financial condition and results of operations.***

The healthcare industry is subject to changing political, economic and regulatory influences that may affect the procurement processes and operation of healthcare facilities, including our hospital clients. During the past decade, the healthcare industry has been subject to increased legislation and regulation of, among other things, reimbursement rates, payment programs, information technology programs and certain capital expenditures (collectively, the "Health Reform Laws").

The Health Reform Laws contain various provisions which impact us and our clients. Some of these provisions have a positive impact, by expanding the use of electronic health records in certain federal programs, for example, while others, such as reductions in reimbursement for certain types of providers, have a negative impact due to fewer available resources. Among other things, the Health Reform Laws provide for the expansion of Medicaid eligibility, mandate material changes to the delivery of healthcare services and reduce the reimbursement paid for such services in order to generate savings in the Medicare program. The Health Reform Laws also modify certain payment systems to encourage more cost-effective, quality-based care and a reduction of inefficiencies and waste, including through various tools to address fraud and abuse. The continued increase in fraud and abuse penalties is expected to adversely affect participants in the healthcare sector, including us. The Health Reform Laws will continue to affect hospitals differently depending upon the populations they serve and their payor mix. Our target market of community hospitals typically serve higher uninsured populations than larger urban hospitals and rely more heavily on Medicare and Medicaid for reimbursement.

The Health Reform Laws are leading to significant changes in the healthcare system, but the full impact of the legislation and of further statutory and regulatory actions to reform healthcare on our business is unknown. As a result, there can be no assurances that the legislation will not adversely impact either our operational results or the manner in which we operate our business. We believe some healthcare industry participants have reduced their investments or postponed investment decisions, including investments in our solutions and services.

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Cost-containment measures instituted by healthcare providers as a result of regulatory reform or otherwise could result in a reduced allocation of capital funds. Such a reduction could have an adverse effect on our ability to sell our systems and related services.

On July 4, 2025, the U.S. signed into law the OBBBA, which included significant reforms to Medicaid, including an estimated $1 trillion in reduced federal Medicaid spending from 2025 through 2034, the imposition of work requirements for certain adult enrollees, more frequent eligibility redeterminations, and increased cost-sharing for beneficiaries. The OBBBA also implements additional eligibility rules on government health plans, expands administrative procedures around enrollment, modifies how states can obtain federal funding for Medicaid and no longer extends Affordable Care Act premium subsidies. Additional federal and state guidance is expected to be issued in order to implement these OBBBA provisions, most of which have effective dates in 2027 and 2028. These changes are expected to reduce overall Medicaid enrollment and access to care. Any decrease in the number of insured patients or reimbursement levels could adversely affect our community hospital clients, which could adversely affect demand for our products and services. In addition, some members of Congress have proposed measures intended to accelerate the shift from traditional Medicare to Medicare Advantage, or repealing the Affordable Care Act or eliminating some of its consumer protections. Changes in governmental administration, including changes in agency structures and staffing, such as reduction or elimination of personnel and agencies, may also result in changes to established rulemaking conventions and timelines, including for regularly issued reimbursement rules, among other effects. We cannot predict what effect, if any, such additional changes or reforms might have on our business, financial condition and results of operations.

As existing regulations mature and become better defined, we anticipate that these regulations will continue to directly affect certain of our products and services, but we cannot fully predict the effect at this time. We have taken steps to modify our products, services and internal practices as necessary to facilitate our compliance with the regulations, but there can be no assurance that we will be able to do so in a timely or complete manner. Achieving compliance with these regulations could be costly and distract management's attention and divert other Company resources, and any noncompliance by us could result in civil and criminal penalties.

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| | |
|:---|:---|
| **Item 2.** | **Unregistered Sales of Equity Securities and Use of Proceeds.** |

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*Repurchases of Equity Securities* 

The following table provides information about our repurchases of common stock during the three months ended September 30, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
| Period | Total Number of Shares Purchased<sup>(1)</sup> | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs |
| Beginning of Period |  |  |  | $— |
| July 1, 2025 - July 31, 2025 | 3534 | 23.36 |  |  |
| August 1, 2025 - August 31, 2025 | 217 | 20.89 |  |  |
| September 1, 2025 - September 30, 2025 |  |  |  |  |
| Total | 3751 | 23.21 |  |  |
| <sup>(1)</sup> There were 3,751 shares repurchased during the three months ended September 30, 2025 to fund required tax withholdings related to the vesting of restricted stock. | <sup>(1)</sup> There were 3,751 shares repurchased during the three months ended September 30, 2025 to fund required tax withholdings related to the vesting of restricted stock. | <sup>(1)</sup> There were 3,751 shares repurchased during the three months ended September 30, 2025 to fund required tax withholdings related to the vesting of restricted stock. | <sup>(1)</sup> There were 3,751 shares repurchased during the three months ended September 30, 2025 to fund required tax withholdings related to the vesting of restricted stock. | <sup>(1)</sup> There were 3,751 shares repurchased during the three months ended September 30, 2025 to fund required tax withholdings related to the vesting of restricted stock. |

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| | |
|:---|:---|
| **Item 3.** | **Defaults Upon Senior Securities.** |

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Not applicable.

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| | |
|:---|:---|
| **Item 4.** | **Mine Safety Disclosures.** |

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Not applicable.

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| | |
|:---|:---|
| **Item 5.** | **Other Information.** |

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(a) Departure of Directors or Certain Officers

On November 5, 2025, TruBridge, Inc. (the "Company") and Wes D. Cronkite, the Company's Chief Technology & Innovation Officer, agreed that Mr. Cronkite will no longer serve as the Company's Chief Technology & Innovation, effective December 5, 2025. Mr. Cronkite's departure is not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

Pursuant to Mr. Cronkite's Executive Severance Agreement, dated June 20, 2023 (the "Severance Agreement"), he will receive, in addition to any accrued but unpaid amounts or benefits, (i) twelve (12) months of equal installment payments which are in the aggregate equal to the sum of Mr. Cronkite's base salary and target bonus for 2025; (ii) up to twelve (12) months of reimbursements for medical and/or dental continuation coverage; (iii) continued vesting of Mr. Cronkite's outstanding unvested shares of restricted stock during the period in which Mr. Cronkite is subject to non-competition and non-solicitation covenants; and (iv) a pro rata portion of Mr. Cronkite's outstanding cash incentive awards and performance share awards to be calculated in the manner set forth in the applicable award agreements based on the degree of attainment of the applicable performance goals at the end of the applicable performance period, with the amount of the awards, if any, to be pro-rated based on the number of days that Mr. Cronkite was employed by the Company during the performance period.

As required by Section 2(b) of the Severance Agreement, following the end of his employment, Mr. Cronkite will enter into a General Release of Claims (the "Release"), pursuant to which Mr. Cronkite will release the Company from any and all claims which he now has, or which may accrue in relation to his hiring and employment with the Company or the termination of that employment, up to and including the Release Effective Date (as defined in the Release). The form of the Release is filed as Exhibit 10.2 to this report and is incorporated herein by reference.

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(b) Not applicable.

(c) Rule 10b5-1 Trading Arrangements

From time to time, members of the Company's Board of Directors and officers of the Company may enter into Rule 10b5-1 trading plans, which allow for the purchase or sale of common stock under pre-established terms at times when directors and officers might otherwise be prevented from trading under insider trading laws or because of self-imposed blackout periods. Such trading plans are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act and comply with the Company's insider trading policy. During the quarter ended September 30, 2025, none of the Company's directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408 of Regulation S-K.

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---

| | |
|:---|:---|
| **Item 6.** | **Exhibits.** |

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Effective as of March 4, 2024, we changed our name to TruBridge, Inc. By operation of law, any reference to "Computer Programs and Systems, Inc." or "CPSI" in these exhibits should be read as "TruBridge" as set forth in the Exhibit List below.

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| | |
|:---|:---|
| 2.1\* | <u>[Stock Purchase Agreement, dated as of January 16, 2024, by and among Computer Programs and System, Inc., PointClickCare Technologies USA Corp., Healthland, Inc., and American HealthTech, Inc. (incorporated by reference to Exhibit 2.1 of TruBridge, Inc.'s Current Report on Form 8-K filed January 17, 2024)](https://www.sec.gov/Archives/edgar/data/1169445/000119312524008957/d611562dex21.htm)</u> |
| 3.1 | <u>[Certificate of Incorporation (incorporate by reference to Exhibit 3.4 to TruBridge, Inc.'s Registration Statement on Form S-1 (Registration No. 333-84726))](https://www.sec.gov/Archives/edgar/data/1169445/000093176302000744/dex34.txt)</u> |
| 3.2 | <u>[Certificate of Amendment to Certificate of Incorporation (incorporated by reference to Exhibit 3.1 of TruBridge, Inc.'s Current Report on Form 8-K filed March 4, 2024)](https://www.sec.gov/Archives/edgar/data/1169445/000119312524057734/d795024dex31.htm)</u> |
| 3.3 | <u>[Second Certificate of Amendment to Certificate of Incorporation (incorporated by reference to Exhibit 3.1 of TruBridge, Inc.'s Current Report on Form 8-K filed May 8, 2025)](https://www.sec.gov/Archives/edgar/data/1169445/000119312525115975/d848279dex31.htm)</u> |
| 3.4 | <u>[Second Amended and Restated Bylaws dated October 25, 2024 (incorporated by reference Exhibit 3.1 of TruBridge, Inc.'s Current Report on Form 8-K filed October 25, 2024)](https://www.sec.gov/Archives/edgar/data/1169445/000119312524244163/d856993dex31.htm)</u> |
| 4.1 | <u>[Rights Agreement dated as of March 26, 2024, by and between TruBridge, Inc. and Computershare Trust Company, N.A., as Rights Agent (incorporated by reference to Exhibit 4.1 of TruBridge, Inc.'s Current Report on Form 8-K filed March 26, 2024)](https://www.sec.gov/Archives/edgar/data/1169445/000119312524077130/d815377dex41.htm)</u> |
| 4.2 | <u>[Amendment to the Rights Agreement, dated as of April 22, 2024, by and between TruBridge, Inc. and Computershare Trust Company, N.A., as Rights Agent (incorporated by reference to Exhibit 4.2 of TruBridge, Inc.'s Current Report on Form 8-K filed April 23, 2024)](https://www.sec.gov/Archives/edgar/data/1169445/000119312524106024/d772552dex42.htm)</u> |
| 4.3 | <u>[Second Amendment to the Rights Agreement, dated as of February 11, 2025, by and between TruBridge, Inc. and Computershare Trust Company, N.A., as Rights Agent (incorporated by reference to Exhibit 4.3 of TruBridge](https://www.sec.gov/Archives/edgar/data/1169445/000119312525024808/d931144dex43.htm)[, Inc.](https://www.sec.gov/Archives/edgar/data/1169445/000119312525024808/d931144dex43.htm)['s Current Report on Form 8-K filed February 12, 2025)](https://www.sec.gov/Archives/edgar/data/1169445/000119312525024808/d931144dex43.htm)</u> |
| 10.1 | <u>[TruBridge, Inc. Second Amended and Restated 2019 Incentive Plan](tbrgex10109302025.htm)</u> |
| 10.2 | <u>[Form of General Release (as required by Executive Severance Agreement) (incorporated by reference to Exhibit 10.1 of TruBridge, Inc.'s Current Report on Form 8-K filed October 3, 2025)](https://www.sec.gov/Archives/edgar/data/1169445/000119312525229309/d894776dex101.htm)</u> |
| 31.1 | <u>[Certification of the Chief Executive Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](tbrgex31109302025.htm)</u> |
| 31.2 | <u>[Certification of the Chief Financial Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](tbrgex31209302025.htm)</u> |
| 32.1 | <u>[Certifications of the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](tbrgex32109302025.htm)</u> |
| 101 | The following financial statements from the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, formatted in inline eXtensible Business Reporting Language (iXBRL): (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations, (iii) Condensed Consolidated Statements of Comprehensive Income (Loss), (iv) Condensed Consolidated Statements of Stockholders' Equity, (v) Condensed Consolidated Statements of Cash Flows, and (vi) Notes to Condensed Consolidated Financial Statements |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |

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\* Certain annexes and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby agrees to furnish supplementally copies of any of the omitted documents to the SEC upon its request.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | |
|:---|:---|:---|
| | TRUBRIDGE, INC. | TRUBRIDGE, INC. |
| November 7, 2025 | By: | /s/ Christopher L. Fowler |
|  |  | Christopher L. Fowler |
|  |  | President and Chief Executive Officer |
| November 7, 2025 | By: | /s/ Vinay Bassi |
|  |  | Vinay Bassi |
|  |  | Chief Financial Officer |

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## Exhibit 10.1

**TRUBRIDGE, INC.**

**SECOND AMENDED AND RESTATED**

**2019 INCENTIVE PLAN**

1.<u>Purpose; Eligibility</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1<u>General Purpose</u>. The name of this plan is the TruBridge, Inc. Second Amended and Restated 2019 Incentive Plan (the "**Plan**"). The purposes of the Plan are to (a) enable TruBridge, Inc., a Delaware corporation (the "**Company**"), and any Affiliate to attract and retain the types of Employees, Consultants and Directors who will contribute to the Company's long range success; (b) provide incentives that align the interests of Employees, Consultants and Directors with those of the stockholders of the Company; and (c) promote the success of the Company's business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2<u>Eligible Award Recipients</u>. The persons eligible to receive Awards are the Employees, Consultants and Directors of the Company and its Affiliates and such other individuals designated by the Committee who are reasonably expected to become Employees, Consultants and Directors after the receipt of Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3<u>Available Awards</u>. Awards that may be granted under the Plan include: (a) Incentive Stock Options, (b) Nonqualified Stock Options, (c) Stock Appreciation Rights, (d) Restricted Awards, (e) Performance Share Awards, (f) Cash Awards, and (g) Other Equity-Based Awards.

2.<u>Definitions</u>.

"**Affiliate**" means a corporation or other entity that, directly or through one or more intermediaries, controls, is controlled by or is under common control with, the Company.

"**Applicable Laws**" means the requirements related to or implicated by the administration of the Plan under applicable state corporate law, United States federal and state securities laws, the Code, the rules of any stock exchange or quotation system on which the shares of Common Stock are listed or quoted, and the applicable laws of any other jurisdiction where Awards are granted under the Plan.

"**Award**" means any right granted under the Plan, including an Incentive Stock Option, a Nonqualified Stock Option, a Stock Appreciation Right, a Restricted Award, a Performance Share Award, a Cash Award, or an Other Equity-Based Award.

"**Award Agreement**" means a written agreement, contract, certificate or other instrument or document evidencing the terms and conditions of an individual Award granted under the Plan which may, in the discretion of the Company, be transmitted electronically to any Participant. Each Award Agreement shall be subject to the terms and conditions of the Plan.

"**Beneficial Owner**" has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular Person, such Person shall be deemed to have beneficial ownership of all securities that such Person has the right to acquire by conversion or exercise of other securities, whether such

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right is currently exercisable or is exercisable only after the passage of time. The terms "Beneficially Owns" and "Beneficially Owned" have a corresponding meaning.

"**Board**" means the Board of Directors of the Company, as constituted at any time.

**"Cash Award"** means an Award denominated in cash that is granted under Section 7.4 of the Plan.

"**Cause**" means:

With respect to any Employee or Consultant, unless the applicable Award Agreement states otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)If the Employee or Consultant is a party to an employment or service agreement with the Company or its Affiliates and such agreement provides for a definition of Cause, the definition contained therein; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)If no such agreement exists, or if such agreement does not define Cause: (i) the commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or an Affiliate; (ii) conduct that results in or is reasonably likely to result in harm to the reputation or business of the Company or any of its Affiliates; (iii) gross negligence or willful misconduct with respect to the Company or an Affiliate; or (iv) material violation of state or federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.With respect to any Director, unless the applicable Award Agreement states otherwise, a determination by a majority of the disinterested Board members that the Director has engaged in any of the following: (a) malfeasance in office; (b) gross misconduct or neglect; (c) false or fraudulent misrepresentation inducing the director's appointment; (d) willful conversion of corporate funds; or (e) repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings in advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Participant has been discharged for Cause.

"**Change in Control**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries, taken as a whole, to any Person that is not a subsidiary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The Incumbent Directors cease for any reason to constitute at least a majority of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)The date which is ten (10) business days prior to the consummation of a complete liquidation or dissolution of the Company;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)The acquisition by any Person of Beneficial Ownership of 50% or more (on a fully diluted basis) of either (i) the then outstanding shares of Common Stock of the Company, taking into account as outstanding for this purpose such Common Stock issuable upon the exercise of options or warrants, the conversion of convertible stock or debt, and the exercise of any similar right to acquire such Common Stock or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the "**Outstanding Company Voting Securities**"); *provided, however*, that for purposes of this Plan, the following acquisitions shall not constitute a Change in Control: (A) any acquisition by the Company or any Affiliate, (B) any acquisition by any employee benefit plan sponsored or maintained by the Company or any subsidiary, (C) any acquisition which complies with clauses, (i), (ii) and (iii) of subsection (e) of this definition or (D) in respect of an Award held by a particular Participant, any acquisition by the Participant or any group of persons including the Participant (or any entity controlled by the Participant or any group of persons including the Participant); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)The consummation of a reorganization, merger, consolidation, statutory share exchange or similar form of corporate transaction involving the Company that requires the approval of the Company's stockholders, whether for such transaction or the issuance of securities in the transaction (a "**Business Combination**"), unless immediately following such Business Combination: (i) more than 50% of the total voting power of (A) the entity resulting from such Business Combination (the "**Surviving Company**"), or (B) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of sufficient voting securities eligible to elect a majority of the members of the board of directors (or the analogous governing body) of the Surviving Company (the "**Parent Company**"), is represented by the Outstanding Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which the Outstanding Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of the Outstanding Company Voting Securities among the holders thereof immediately prior to the Business Combination; (ii) no Person (other than any employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company) is or becomes the Beneficial Owner, directly or indirectly, of 50% or more of the total voting power of the outstanding voting securities eligible to elect members of the board of directors of the Parent Company (or the analogous governing body) (or, if there is no Parent Company, the Surviving Company); and (iii) at least a majority of the members of the board of directors (or the analogous governing body) of the Parent Company (or, if there is no Parent Company, the Surviving Company) following the consummation of the Business Combination were Board members at the time of the Board's approval of the execution of the initial agreement providing for such Business Combination.

Notwithstanding anything in the Plan to the contrary (including (a)-(e) above), to the extent any Award constitutes "deferred compensation" and such "deferred compensation" is payable upon a Change in Control, then the definition of Change in Control shall be as provided in Section 409A of the Code; *provided, however,* the following rules shall also apply: (i) a "change in the effective control" shall only be a Change in Control, if such change constitutes a more than 50% "change in effective control" of the Company; and (ii) a "change in the

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ownership of a substantial portion of the assets" shall only be a Change in Control, if such change constitutes a more than 50% "change in the ownership of a substantial portion of the assets" of the Company.

"**Clawback Policy**" has the meaning set forth in Section 14.2.

"**Code**" means the Internal Revenue Code of 1986, as it may be amended from time to time. Any reference to a section of the Code shall be deemed to include a reference to any regulations promulgated thereunder.

"**Committee**" means a committee of one or more members of the Board appointed by the Board to administer the Plan in accordance with Section 3.3 and Section 3.4.

"**Common Stock**" means the common stock, $0.001 par value per share, of the Company, or such other securities of the Company as may be designated by the Committee from time to time in substitution thereof.

"**Company**" means TruBridge, Inc., a Delaware corporation, and any successor thereto.

"**Consultant**" means any individual or entity which performs bona fide services to the Company or an Affiliate, other than as an Employee or Director, and who may be offered securities registrable pursuant to a registration statement on Form S-8 under the Securities Act.

"**Continuous Service**" means that the Participant's service with the Company or an Affiliate, whether as an Employee, Consultant or Director, is not interrupted or terminated. The Participant's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which the Participant renders such service, *provided that* there is no interruption or termination of the Participant's Continuous Service; *provided further that* if any Award is subject to Section 409A of the Code, this sentence shall only be given effect to the extent consistent with a "Separation from Service" as defined under Section 409A of the Code. The Committee or its delegate, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence. The Committee or its delegate, in its sole discretion, may determine whether a Company transaction, such as a sale or spin-off of a division or subsidiary that employs a Participant, shall be deemed to result in a termination of Continuous Service for purposes of affected Awards, and such decision shall be final, conclusive and binding.

"**Director**" means a member of the Board.

"**Disability**" means, unless the applicable Award Agreement says otherwise, that the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment; *provided, however*, for purposes of determining the term of an Incentive Stock Option pursuant to Section 6.9 hereof, the term Disability shall have the meaning ascribed to it under Section 22(e)(3) of the Code. The determination of whether an

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individual has a Disability shall be determined under procedures established by the Committee. Except in situations where the Committee is determining Disability for purposes of the term of an Incentive Stock Option pursuant to Section 6.9 hereof within the meaning of Section 22(e)(3) of the Code, the Committee may rely on any determination that a Participant is disabled, provided such determination is consistent with Treasury Regulation Section 1.409A-3(i)(4).

"**Disqualifying Disposition**" has the meaning set forth in Section 14.10.

"**Dividend Equivalents**" has the meaning set forth in Section 7.2.

"**Effective Date**" shall mean the date as of which this Plan is adopted by the Board.

"**Employee**" means any person, including an Officer or Director, employed by the Company or an Affiliate; *provided, that,* for purposes of determining eligibility to receive Incentive Stock Options, an Employee shall mean an employee of the Company or a parent or subsidiary corporation within the meaning of Section 424 of the Code. Mere service as a Director or payment of a director's fee by the Company or an Affiliate shall not be sufficient to constitute "employment" by the Company or an Affiliate.

"**Exchange Act**" means the Securities Exchange Act of 1934, as amended.

"**Fair Market Value**" means, as of any date, the value of the Common Stock as determined below. If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the NASDAQ Stock Market, the Fair Market Value shall be the closing price of a share of Common Stock (or if no sales were reported the closing price on the date immediately preceding such date) as quoted on such exchange or system on the day of determination, as reported in the *Wall Street Journal* or such other source as the Committee deems reliable. In the absence of an established market for the Common Stock, the Fair Market Value shall be determined in good faith by the Committee in accordance with Section 409A of the Code and such determination shall be conclusive and binding on all persons.

**"Fiscal Year**" means the Company's fiscal year.

"**Free Standing Rights**" has the meaning set forth in Section 7.1(a).

"**Grant Date**" means the date on which the Committee adopts a resolution, or takes other appropriate action, expressly granting an Award to a Participant that specifies the key terms and conditions of the Award or, if a later date is set forth in such resolution, then such date as is set forth in such resolution.

"**Incentive Stock Option**" means an Option that is designated by the Committee as an incentive stock option within the meaning of Section 422 of the Code and that meets the requirements set out in the Plan.

"**Incumbent Directors**" means individuals who, on the Effective Date, constitute the Board, *provided that* any individual becoming a Director subsequent to the Effective Date whose election or nomination for election to the Board was approved by a vote of at least two-thirds of

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the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for Director without objection to such nomination) shall be an Incumbent Director. No individual initially elected or nominated as a director of the Company as a result of an actual or threatened election contest with respect to Directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any Person other than the Board shall be an Incumbent Director.

"**ISO Limit**" has the meaning set forth in Section 4.3.

"**Non-Employee Director**" means a Director who is a "non-employee director" within the meaning of Rule 16b-3.

"**Nonqualified Stock Option**" means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option.

"**Officer**" means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

"**Option**" means an Incentive Stock Option or a Nonqualified Stock Option granted pursuant to the Plan.

"**Option Exercise Price**" means the price at which a share of Common Stock may be purchased upon the exercise of an Option.

"**Optionholder**" means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option.

"**Other Equity-Based Award**" means an Award that is not an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, or Performance Share Award that is granted under Section 7.4 and is payable by delivery of Common Stock and/or which is measured by reference to the value of Common Stock.

"**Participant**" means an eligible person to whom an Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Award.

"**Performance Goals**" means, for a Performance Period, the one or more goals established by the Committee for the Performance Period based upon business criteria or other performance measures determined by the Committee in its discretion.

"**Performance Period**" means the one or more periods of time not less than one fiscal quarter in duration, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant's right to and the payment of a Performance Share Award or a Cash Award.

"**Performance Share**" means the grant of a right to receive a number of actual shares of Common Stock or share units based upon the performance of the Company during a Performance Period, as determined by the Committee.

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"**Performance Share Award**" means any Award granted pursuant to Section 7.3 hereof.

"**Permitted Transferee**" means a member of the Optionholder's immediate family (child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships), any person sharing the Optionholder's household (other than a tenant or employee), a trust in which these persons have more than 50% of the beneficial interest, a foundation in which these persons (or the Optionholder) control the management of assets, and any other entity in which these persons (or the Optionholder) own more than 50% of the voting interests.

"**Person**" means a person as defined in Section 13(d)(3) of the Exchange Act.

"**Plan**" means this TruBridge, Inc. Second Amended and Restated 2019 Incentive Plan, as amended and/or amended and restated from time to time.

"**Related Rights**" has the meaning set forth in Section 7.1(a).

"**Restricted Award**" means any Award granted pursuant to Section 7.2(a).

"**Restricted Stock Units**" has the meaning set forth in Section 7.2(a).

"**Restricted Period**" has the meaning set forth in Section 7.2(a).

"**Rule 16b-3**" means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to time.

"**Securities Act**" means the Securities Act of 1933, as amended.

"**Stock Appreciation Right**" means the right pursuant to an Award granted under Section 7.1 to receive, upon exercise, an amount payable in cash or shares equal to the number of shares subject to the Stock Appreciation Right that is being exercised multiplied by the excess of (a) the Fair Market Value of a share of Common Stock on the date the Award is exercised, over (b) the exercise price specified in the Stock Appreciation Right Award Agreement.

"**Stock for Stock Exchange**" has the meaning set forth in Section 6.4.

"**Substitute Award**" has the meaning set forth in Section 4.6.

"**Ten Percent Stockholder**" means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of any of its Affiliates.

"**Total Share Reserve**" has the meaning set forth in Section 4.1.

"**Vested Unit**" has the meaning set forth in Section 7.2(d).

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5.<u>Administration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1<u>Authority of Committee</u>. The Plan shall be administered by the Committee or, in the Board's sole discretion, by the Board. Subject to the terms of the Plan, the Committee's charter and Applicable Laws, and in addition to other express powers and authorization conferred by the Plan, the Committee (or the Board, as the case may be) shall have the authority:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)to construe and interpret the Plan and apply its provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)to promulgate, amend, and rescind rules and regulations relating to the administration of the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)to authorize any person to execute, on behalf of the Company, any instrument required to carry out the purposes of the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)to delegate its authority to one or more Officers of the Company with respect to Awards that do not involve "insiders" within the meaning of Section 16 of the Exchange Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)to determine when Awards are to be granted under the Plan and the applicable Grant Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)from time to time to select, subject to the limitations set forth in this Plan, those eligible Award recipients to whom Awards shall be granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)to determine the number of shares of Common Stock, if any, to be made subject to each Award;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)to determine whether each Option is to be an Incentive Stock Option or a Nonqualified Stock Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)to prescribe the terms and conditions of each Award, including, without limitation, the exercise price and medium of payment and vesting provisions, and to specify the provisions of the Award Agreement relating to such grant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)to determine the target number of Performance Shares to be granted pursuant to a Performance Share Award, the performance measures that will be used to establish the Performance Goals, the Performance Period(s) and the number of Performance Shares earned by a Participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)in accordance and consistent with Section 409A of the Code, to amend any outstanding Awards, including for the purpose of modifying the time or manner of vesting or the term of any outstanding Award or extending the exercise period of any outstanding Award; *provided, however*, that if any such amendment impairs a Participant's rights or increases a Participant's obligations under his or her Award or creates or increases a Participant's federal income tax liability with respect to an Award, such amendment shall also be subject to the Participant's consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)to determine the duration and purpose of leaves of absences which may be granted to a Participant without constituting termination of their employment for purposes of the Plan, which periods shall be no shorter than the periods generally applicable to Employees under the Company's employment policies;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)to make decisions with respect to outstanding Awards that may become necessary upon a change in corporate control or an event that triggers anti-dilution adjustments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)to interpret, administer, reconcile any inconsistency in, correct any defect in and/or supply any omission in the Plan and any instrument or agreement relating to, or Award granted under, the Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)to exercise discretion to make any and all other determinations which it determines to be necessary or advisable for the administration of the Plan.

In accordance and consistent with Section 409A of the Code, the Committee also may modify the purchase price or the exercise price of any outstanding Award, *provided, however, that* no adjustment or reduction of the exercise price of any outstanding Option or Stock Appreciation Right in the event of a decline in Common Stock price shall be permitted without stockholder approval. The foregoing prohibition includes (i) reducing the exercise price of outstanding Options or Stock Appreciation Rights; (ii) cancelling outstanding Options or Stock Appreciation Rights in connection with the granting of Options or Stock Appreciation Rights with a lower exercise price to the same individual; (iii) cancelling Options or Stock Appreciation Rights with an exercise price in excess of the current Fair Market Value in exchange for a cash payment or other Awards(s); and (iv) taking any other action that would be treated as a repricing of an Option or Stock Appreciation Right under the rules of the primary securities exchange or similar entity on which the Common Stock is listed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2<u>Committee Decisions Final</u>. All decisions made by the Committee (or the Board, as the case may be) pursuant to the provisions of the Plan shall be final and binding on the Company and the Participants, unless such decisions are determined by a court having jurisdiction to be arbitrary and capricious.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3<u>Delegation</u>. The Committee or, if no Committee has been appointed, the Board may delegate administration of the Plan to a committee or committees of one or more members of the Board, and the term "**Committee**" shall apply to any person or persons to whom such authority has been delegated. The Committee shall have the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board or the Committee shall thereafter be to the committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any time and revest in the Board the administration of the Plan. The members of the Committee shall be appointed by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee, add additional members to, remove members (with or without cause) from, appoint new members in substitution therefor, and fill vacancies, however caused, in the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in the case of a Committee comprised of only two members, the unanimous consent of its members, whether present or not, or by the written consent of the majority of its members and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board. Subject to the limitations prescribed by the Plan and the Board, the Committee may establish and follow such rules and regulations for the conduct of its business as it may determine to be advisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4<u>Committee Composition</u>. Except as otherwise determined by the Board, the Committee shall consist solely of two or more Non-Employee Directors. The Board shall have discretion to determine whether or not it intends to comply with the exemption requirements of

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Rule 16b-3. However, if the Board intends to satisfy such exemption requirements, with respect to Awards to any insider subject to Section 16 of the Exchange Act, the Committee shall be a compensation committee of the Board that consists solely of two or more Non-Employee Directors. Within the scope of such authority, the Board or the Committee may delegate to a committee of one or more members of the Board who are not Non-Employee Directors the authority to grant Awards to eligible persons who are not then subject to Section 16 of the Exchange Act. Nothing herein shall create an inference that an Award is not validly granted under the Plan in the event Awards are granted under the Plan by a compensation committee of the Board that does not at all times consist solely of two or more Non-Employee Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5<u>Indemnification</u>. In addition to such other rights of indemnification as they may have as Directors or members of the Committee, and to the extent allowed by Applicable Laws, the Committee shall be indemnified by the Company against the reasonable expenses, including attorney's fees, actually incurred in connection with any action, suit or proceeding or in connection with any appeal therein, to which the Committee may be party by reason of any action taken or failure to act under or in connection with the Plan or any Award granted under the Plan, and against all amounts paid by the Committee in settlement thereof (*provided, however*, that the settlement has been approved by the Company, which approval shall not be unreasonably withheld) or paid by the Committee in satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such Committee did not act in good faith and in a manner which such person reasonably believed to be in the best interests of the Company, or in the case of a criminal proceeding, had no reason to believe that the conduct complained of was unlawful; *provided, however*, that within sixty (60) days after the institution of any such action, suit or proceeding, such Committee shall, in writing, offer the Company the opportunity at its own expense to handle and defend such action, suit or proceeding.

6.<u>Shares Subject to the Plan</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1Subject to adjustment in accordance with Section 11, no more than 3,935,000<sup>1</sup> shares of Common Stock, plus the number of shares of Common Stock underlying any award granted under the Computer Programs and Systems, Inc. Amended and Restated 2014 Incentive Plan that expires, terminates or is cancelled or forfeited under the terms of such plan, shall be available for the grant of Awards under the Plan (the "**Total Share Reserve**"). Performance Share Awards shall be counted assuming maximum performance results (if applicable) until such time as actual performance results can be determined. During the terms of the Awards, the Company shall keep available at all times the number of shares of Common Stock required to satisfy such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2Shares of Common Stock available for issuance by the Company under the Plan may consist, in whole or in part, of authorized and unissued shares, treasury shares or shares reacquired by the Company in any manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3Subject to adjustment in accordance with Section 11, no more than 100,000 shares of Common Stock may be issued in the aggregate pursuant to the exercise of Incentive Stock Options (the "**ISO Limit**").

<sup>1</sup> This represents the 1,000,000 shares of Common Stock initially approved for issuance under the Plan at the Annual Meeting of Stockholders on April 29, 2019 <u>plus</u> the 1,085,000 shares of Common Stock approved for issuance under the Amended and Restated Plan at the 2022 Annual Meeting of Stockholders <u>plus</u> the 1,850,000 shares of Common Stock approved for issuance under the Second Amended and Restated Plan at the 2025 Annual Meeting of Stockholders.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4The maximum number of shares of Common Stock subject to Awards granted during a single Fiscal Year to any Non-Employee Director, together with any cash fees paid to such Non-Employee Director during the Fiscal Year, shall not exceed a total value of $400,000 (calculating the value of any Awards based on the grant date fair value for financial reporting purposes).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5Any shares of Common Stock subject to an Award that expires or is cancelled, forfeited, or terminated without issuance of the full number of shares of Common Stock to which the Award related will again be available for issuance under the Plan. Notwithstanding anything to the contrary contained herein: (1) shares subject to an Award under the Plan shall not again be made available for issuance or delivery under the Plan if such shares are (a) shares tendered in payment of an Award, (b) shares delivered by a Participant or withheld by the Company to satisfy any tax withholding obligation, or (c) shares covered by a stock-settled Stock Appreciation Right or other Awards that were not issued upon the settlement of the Award, and (2) shares repurchased on the open market with the proceeds of an Option Exercise Price shall not again be made available for issuance under the Plan. Furthermore, notwithstanding that an Award is settled by the delivery of a net number of shares, the full number of shares underlying such Award shall not be available for subsequent Awards under the Plan. Shares subject to Awards that are settled in cash will be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6In accordance and consistent with Section 409A of the Code, Awards may, in the sole discretion of the Committee, be granted under the Plan in assumption of, or in substitution for, outstanding awards previously granted by an entity acquired by the Company or with which the Company combines ("**Substitute Awards**"). Substitute Awards shall not be counted against the Total Share Reserve; provided, that, Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding options intended to qualify as Incentive Stock Options shall be counted against the ISO Limit. Subject to applicable stock exchange requirements, available shares under a stockholder-approved plan of an entity directly or indirectly acquired by the Company or with which the Company combines (as appropriately adjusted to reflect such acquisition or transaction) may be used for Awards under the Plan and shall not count toward the Total Share Limit.

7.<u>Eligibility</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1<u>Eligibility for Specific Awards</u>. Incentive Stock Options may be granted only to Employees. Awards other than Incentive Stock Options may be granted to Employees, Consultants and Directors and those individuals whom the Committee determines are reasonably expected to become Employees, Consultants and Directors following the Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2<u>Ten Percent Stockholders</u>. A Ten Percent Stockholder shall not be granted an Incentive Stock Option unless the Option Exercise Price is at least 110% of the Fair Market Value of the Common Stock on the Grant Date and the Option is not exercisable after the expiration of five (5) years from the Grant Date.

8.<u>Option Provisions</u>. Each Option granted under the Plan shall be evidenced by an Award Agreement. Each Option so granted shall be subject to the conditions set forth in this Section 6, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. No Options may be granted under the Plan that provide for automatic grants of new Options when a Participant pays the exercise price of a previously granted Option by delivering shares of Common Stock owned by such Participant. All Options shall be separately designated Incentive Stock Options or Nonqualified Stock Options at the time of grant, and, if certificates are issued, a separate certificate or certificates will be issued for shares of Common Stock purchased on exercise of each type of Option. Notwithstanding the foregoing, the

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Company shall have no liability to any Participant or any other person if an Option designated as an Incentive Stock Option fails to qualify as such at any time or if an Option is determined to constitute "deferred compensation" within the meaning of Section 409A of the Code and the terms of such Option do not satisfy the requirements of Section 409A of the Code. The provisions of separate Options need not be identical, but each Option shall include (through incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1<u>Term</u>. Subject to the provisions of Section 5.2 regarding Ten Percent Stockholders, no Incentive Stock Option shall be exercisable after the expiration of ten (10) years from the Grant Date. The term of a Nonqualified Stock Option granted under the Plan shall be determined by the Committee; *provided, however*, no Nonqualified Stock Option shall be exercisable after the expiration of ten (10) years from the Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2<u>Exercise Price of an Incentive Stock Option</u>. Subject to the provisions of Section 5.2 regarding Ten Percent Stockholders, the Option Exercise Price of each Incentive Stock Option shall be not less than 100% of the Fair Market Value of the Common Stock subject to the Option on the Grant Date. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an Option Exercise Price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 424(a) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3<u>Exercise Price of a Nonqualified Stock Option</u>. The Option Exercise Price of each Nonqualified Stock Option shall be not less than 100% of the Fair Market Value of the Common Stock subject to the Option on the Grant Date. Notwithstanding the foregoing, a Nonqualified Stock Option may be granted with an Option Exercise Price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4<u>Consideration</u>. The Option Exercise Price of Common Stock acquired pursuant to an Option shall be paid, to the extent permitted by applicable statutes and regulations, either (a) in cash or by certified or bank check at the time the Option is exercised or (b) in the discretion of the Committee, upon such terms as the Committee shall approve, the Option Exercise Price may be paid: (i) by delivery to the Company of other Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Option Exercise Price (or portion thereof) due for the number of shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific shares of Common Stock that have an aggregate Fair Market Value on the date of attestation equal to the Option Exercise Price (or portion thereof) and receives a number of shares of Common Stock equal to the difference between the number of shares thereby purchased and the number of identified attestation shares of Common Stock (a "**Stock for Stock Exchange**"); (ii) through a "cashless" exercise program established with a broker; (iii) by a reduction in the number of shares of Common Stock otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Option Exercise Price at the time of exercise; (iv) by any combination of the foregoing methods; or (v) in any other form of legal consideration that may be acceptable to the Committee. Unless otherwise specifically provided in the Award Agreement, the exercise price of Common Stock acquired pursuant to an Option that is paid by delivery (or attestation) to the Company of other Common Stock acquired, directly or indirectly from the Company, shall be paid only by shares of the Common Stock of the Company that have been held for more than six (6) months (or such longer or shorter period of time required to avoid a charge to earnings for financial accounting purposes). Notwithstanding the foregoing, during any period for which the Common Stock is publicly traded (i.e., the Common Stock is listed on any established stock exchange or a national market system), an exercise by a Director or Officer that involves or may involve a direct or indirect extension of credit or arrangement of an extension of credit by the

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Company, directly or indirectly, in violation of Section 402(a) of the Sarbanes-Oxley Act of 2002 shall be prohibited with respect to any Award under this Plan. No Option may be exercised for a fraction of a share of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5<u>Transferability of an Incentive Stock Option</u>. An Incentive Stock Option shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6<u>Transferability of a Nonqualified Stock Option</u>. A Nonqualified Stock Option may, in the sole discretion of the Committee, be transferable to a Permitted Transferee, upon written approval by the Committee to the extent provided in the Award Agreement. If the Nonqualified Stock Option does not provide for transferability, then the Nonqualified Stock Option shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7<u>Termination of Continuous Service</u>. Unless otherwise provided in an Award Agreement or in an employment agreement the terms of which have been approved by the Committee, in the event an Optionholder's Continuous Service terminates (other than upon the Optionholder's death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination) but only within such period of time ending on the earlier of (a) the date three (3) months following the termination of the Optionholder's Continuous Service or (b) the expiration of the term of the Option as set forth in the Award Agreement; *provided that*, if the termination of Continuous Service is by the Company for Cause, all outstanding Options (whether or not vested) shall immediately terminate and cease to be exercisable. If, after termination, the Optionholder does not exercise his or her Option within the time specified in the Award Agreement, the Option shall terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8<u>Extension of Termination Date</u>. An Optionholder's Award Agreement may also provide that if the exercise of the Option following the termination of the Optionholder's Continuous Service for any reason would be prohibited at any time because the issuance of shares of Common Stock would violate the registration requirements under the Securities Act or any other state or federal securities law or the rules of any securities exchange or interdealer quotation system, then the Option shall terminate on the earlier of (a) the expiration of the term of the Option in accordance with Section 6.1 or (b) the expiration of a period after termination of the Participant's Continuous Service that is three (3) months after the end of the period during which the exercise of the Option would be in violation of such registration or other securities law requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.9<u>Disability of Optionholder</u>. Unless otherwise provided in an Award Agreement, in the event that an Optionholder's Continuous Service terminates as a result of the Optionholder's Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of (a) the date twelve (12) months following such termination or (b) the expiration of the term of the Option as set forth in the Award Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein or in the Award Agreement, the Option shall terminate.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.10<u>Death of Optionholder</u>. Unless otherwise provided in an Award Agreement, in the event an Optionholder's Continuous Service terminates as a result of the Optionholder's death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the Optionholder's estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the Option upon the Optionholder's death, but only within the period ending on the earlier of (a) the date twelve (12) months following the date of death or (b) the expiration of the term of such Option as set forth in the Award Agreement. If, after the Optionholder's death, the Option is not exercised within the time specified herein or in the Award Agreement, the Option shall terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.11<u>Incentive Stock Option $100,000 Limitation</u>. To the extent that the aggregate Fair Market Value (determined at the time of grant) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and its Affiliates) exceeds $100,000, the Options or portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as Nonqualified Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.12<u>Dividend Equivalents on Options</u>. In no event shall any Dividend Equivalents be paid with respect to any Options until such Options are vested, it being understood that Dividend Equivalents may be credited with respect to such awards, with payment subject to such awards actually vesting (if any). In any event, any such payment shall be made no later than two and one-half (2 ½) months following the end of the calendar year in which such vesting occurs.

9.<u>Provisions of Awards Other Than Options</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1<u>Stock Appreciation Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>General</u>. Each Stock Appreciation Right granted under the Plan shall be evidenced by an Award Agreement. Each Stock Appreciation Right so granted shall be subject to the conditions set forth in this Section 7.1, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. Stock Appreciation Rights may be granted alone ("**Free Standing Rights**") or in tandem with an Option granted under the Plan ("**Related Rights**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Grant Requirements</u>. Any Related Right that relates to a Nonqualified Stock Option may be granted at the same time the Option is granted or at any time thereafter but before the exercise or expiration of the Option. Any Related Right that relates to an Incentive Stock Option must be granted at the same time the Incentive Stock Option is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Term of Stock Appreciation Rights</u>. The term of a Stock Appreciation Right granted under the Plan shall be determined by the Committee; *provided, however*, no Stock Appreciation Right shall be exercisable later than the tenth anniversary of the Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Exercise and Payment</u>. Upon exercise of a Stock Appreciation Right, the holder shall be entitled to receive from the Company an amount equal to the number of shares of Common Stock subject to the Stock Appreciation Right that is being exercised multiplied by the excess of (i) the Fair Market Value of a share of Common Stock on the date the Award is exercised, over (ii) the exercise price specified in the Stock Appreciation Right or related Option. Payment with respect to the exercise of a Stock Appreciation Right shall be made on the date of exercise. Payment shall be made in the form of shares of Common Stock (with or without restrictions as to substantial risk of forfeiture and transferability, as determined by the Committee in its sole discretion), cash or a combination thereof, as determined by the Committee. No Stock Appreciation Right may be exercised for a fraction of a share of Common Stock.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>Exercise Price</u>. The exercise price of a Free Standing Right shall be determined by the Committee, but shall not be less than 100% of the Fair Market Value of one (1) share of Common Stock on the Grant Date of such Stock Appreciation Right. A Related Right granted simultaneously with or subsequent to the grant of an Option and in conjunction therewith or in the alternative thereto shall have the same exercise price as the related Option, shall be transferable only upon the same terms and conditions as the related Option, and shall be exercisable only to the same extent as the related Option; *provided, however*, that a Stock Appreciation Right, by its terms, shall be exercisable only when the Fair Market Value per share of Common Stock subject to the Stock Appreciation Right and related Option exceeds the exercise price per share thereof and no Stock Appreciation Rights may be granted in tandem with an Option unless the Committee determines that the requirements of Section 7.1(b) are satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)<u>Reduction in the Underlying Option Shares</u>. Upon any exercise of a Related Right, the number of shares of Common Stock for which any related Option shall be exercisable shall be reduced by the number of shares for which the Stock Appreciation Right has been exercised. The number of shares of Common Stock for which a Related Right shall be exercisable shall be reduced upon any exercise of any related Option by the number of shares of Common Stock for which such Option has been exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)<u>Dividend Equivalents on Stock Appreciation Rights</u>. In no event shall any Dividend Equivalents be paid with respect to any Stock Appreciation Rights until such awards are vested, it being understood that Dividend Equivalents may be credited with respect to such awards, with payment subject to such awards actually vesting (if any). In any event, any such payment shall be made no later than two and one-half (2 ½) months following the end of the calendar year in which such vesting occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2<u>Restricted Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>General</u>. A Restricted Award is an Award of actual shares of Common Stock ("**Restricted Stock**") or hypothetical Common Stock units ("**Restricted Stock Units**") having a value equal to the Fair Market Value of an identical number of shares of Common Stock, which may, but need not, provide that such Restricted Award may not be sold, assigned, transferred or otherwise disposed of, pledged or hypothecated as collateral for a loan or as security for the performance of any obligation or for any other purpose for such period (the "**Restricted Period**") as the Committee shall determine. Each Restricted Award granted under the Plan shall be evidenced by an Award Agreement. Each Restricted Award so granted shall be subject to the conditions set forth in this Section 7.2, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Restricted Stock and Restricted Stock Units</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)Each Participant granted Restricted Stock shall execute and deliver to the Company an Award Agreement with respect to the Restricted Stock setting forth the restrictions and other terms and conditions applicable to such Restricted Stock. If the Committee determines that the Restricted Stock shall be held by the Company or in escrow rather than delivered to the Participant pending the release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver to the Company (A) an escrow agreement satisfactory to the Committee, if applicable and (B) the appropriate blank stock power with respect to the Restricted Stock covered by such agreement. If a Participant fails to execute an agreement evidencing an Award of Restricted Stock and, if applicable, an escrow agreement and stock power, the Award shall be null and void. Subject to the restrictions set forth in the Award, the Participant

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generally shall have the rights and privileges of a stockholder as to such Restricted Stock, including the right to vote such Restricted Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)The terms and conditions of a grant of Restricted Stock Units shall be reflected in an Award Agreement. No shares of Common Stock shall be issued at the time a Restricted Stock Unit is granted, and the Company will not be required to set aside funds for the payment of any such Award. A Participant shall have no voting rights with respect to any Restricted Stock Units granted hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)At the discretion of the Committee, each share of Restricted Stock or each Restricted Stock Unit (representing one (1) share of Common Stock) may be credited with an amount equal to the cash and stock dividends paid by the Company in respect of one (1) share of Common Stock ("**Dividend Equivalents**"). Dividend Equivalents shall be withheld by the Company and credited to the Participant's account, and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant's account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to a Participant's account and attributable to any particular share of Restricted Stock or Restricted Stock Unit (and earnings thereon, if applicable) shall be distributed in cash or, at the discretion of the Committee, in shares of Common Stock having a Fair Market Value equal to the amount of such Dividend Equivalents and earnings, if applicable, to the Participant upon vesting of such share of Restricted Stock or settlement of such Restricted Stock Unit, as applicable (in any event, no later than two and one-half (2 ½) months following the year in which such vesting or settlement occurs) and, if such share of Restricted Stock or such Restricted Stock Unit is forfeited, the Participant shall have no right to such Dividend Equivalents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Restrictions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)Restricted Stock awarded to a Participant shall be subject to the following restrictions until the expiration of the Restricted Period, and to such other terms and conditions as may be set forth in the applicable Award Agreement: (A) if an escrow arrangement is used, the Participant shall not be entitled to delivery of the stock certificate; (B) the shares shall be subject to the restrictions on transferability set forth in the Award Agreement; (C) the shares shall be subject to forfeiture to the extent provided in the applicable Award Agreement; and (D) to the extent such shares are forfeited, the stock certificates shall be returned to the Company, and all rights of the Participant to such shares and as a stockholder with respect to such shares shall terminate without further obligation on the part of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)Restricted Stock Units awarded to any Participant shall be subject to (A) forfeiture until the expiration of the Restricted Period, and satisfaction of any applicable Performance Goals during such period, to the extent provided in the applicable Award Agreement, and to the extent such Restricted Stock Units are forfeited, all rights of the Participant to such Restricted Stock Units shall terminate without further obligation on the part of the Company and (B) such other terms and conditions as may be set forth in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)The Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock and Restricted Stock Units whenever it may

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determine that, by reason of changes in Applicable Laws or other changes in circumstances arising after the date the Restricted Stock or Restricted Stock Units are granted, such action is appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Delivery of Restricted Stock and Settlement of Restricted Stock Units</u>. Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set forth in Section 7.2(c) and the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall deliver to the Participant, or his or her beneficiary, without charge, the stock certificate evidencing the shares of Restricted Stock which have not then been forfeited and with respect to which the Restricted Period has expired (to the nearest full share). Upon the expiration of the Restricted Period (in any event, no later than two and one-half (2 ½) months following the year in which such expiration occurs) with respect to any outstanding Restricted Stock Units, the Company shall deliver to the Participant, or his or her beneficiary, without charge, one (1) share of Common Stock for each such outstanding vested Restricted Stock Unit ("**Vested Unit**") and cash equal to any Dividend Equivalents credited with respect to each such Vested Unit in accordance with Section 7.2(b)(iii) hereof and the interest thereon or, at the discretion of the Committee, in shares of Common Stock having a Fair Market Value equal to such Dividend Equivalents and the interest thereon, if any; *provided, however*, that, if explicitly provided in the applicable Award Agreement, the Committee may, in its sole discretion, elect to pay cash or part cash and part Common Stock in lieu of delivering only shares of Common Stock for Vested Units. If a cash payment is made in lieu of delivering shares of Common Stock, the amount of such payment shall be equal to the Fair Market Value of the Common Stock as of the date on which the Restricted Period lapsed with respect to each Vested Unit. No Restricted Award may be granted or settled for a fraction of a share of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>Stock Restrictions</u>. Each certificate representing Restricted Stock awarded under the Plan shall bear a legend in such form as the Company deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3<u>Performance Share Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Grant of Performance Share Awards</u>. Each Performance Share Award granted under the Plan shall be evidenced by an Award Agreement. Each Performance Share Award so granted shall be subject to the conditions set forth in this Section 7.3, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. The Committee shall have the discretion to determine: (i) the number of shares of Common Stock or stock-denominated units subject to a Performance Share Award granted to any Participant; (ii) the Performance Period applicable to any Award; (iii) the conditions that must be satisfied for a Participant to earn an Award; and (iv) the other terms, conditions and restrictions of the Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Earning Performance Share Awards</u>. The number of Performance Shares earned by a Participant will depend on the extent to which the Performance Goals established by the Committee are attained within the applicable Performance Period, as determined by the Committee. No payout or issuance of shares of Common Stock shall be made with respect to any Performance Share Award except upon written certification by the Committee that the minimum threshold Performance Goal(s) have been achieved. Unless otherwise provided in an Award Agreement, any such payment shall be made no later than two and one-half (2 ½) months following the end of the calendar year in which the applicable Performance Period ends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Dividend Equivalents on Performance Share Awards</u>. In no event shall any Dividend Equivalents be paid with respect to any Performance Share Awards until such awards are vested, it being understood that Dividend Equivalents may be credited with respect to

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such Performance Share Awards, with payment subject to such awards actually vesting (if any). In any event, any such payment shall be made no later than two and one-half (2 ½) months following the end of the calendar year in which such vesting occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4<u>Other Equity-Based Awards and Cash Awards</u>. The Committee may grant Other Equity-Based Awards, either alone or in tandem with other Awards, in such amounts and subject to such conditions as the Committee shall determine in its sole discretion. Each Other Equity-Based Award shall be evidenced by an Award Agreement and shall be subject to such conditions, not inconsistent with the Plan, as may be reflected in the applicable Award Agreement. The Committee may grant Cash Awards in such amounts and subject to such Performance Goals, other vesting conditions, and such other terms as the Committee determines in its discretion. Cash Awards shall be evidenced in such form as the Committee may determine. Unless otherwise provided in an Award Agreement, payment of any such Other Equity-Based Award or Cash Award shall be made no later than two and one-half (2 ½) months following the end of the calendar year in which vesting occurs. In no event shall any Dividend Equivalents be paid with respect to any Other Equity-Based Awards until such awards are vested, it being understood that Dividend Equivalents may be credited with respect to such awards, with payment subject to such awards actually vesting (if any). In any event, any such payment shall be made no later than two and one-half (2 ½) months following the end of the calendar year in which such vesting occurs.

10.<u>Securities Law Compliance</u>. Each Award Agreement shall provide that no shares of Common Stock shall be purchased or sold thereunder unless and until (a) any then applicable requirements of state or federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel and (b) if required to do so by the Company, the Participant has executed and delivered to the Company a letter of investment intent in such form and containing such provisions as the Committee may require. The Company shall use reasonable efforts to seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Awards and to issue and sell shares of Common Stock upon exercise of the Awards; *provided, however*, that this undertaking shall not require the Company to register under the Securities Act the Plan, any Award or any Common Stock issued or issuable pursuant to any such Award. If, after reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Common Stock upon exercise of such Awards unless and until such authority is obtained.

11.<u>Use of Proceeds from Stock</u>. Proceeds from the sale of Common Stock pursuant to Awards, or upon exercise thereof, shall constitute general funds of the Company.

12.<u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1<u>Acceleration of Exercisability and Vesting; Minimum Vesting Requirement</u>. In accordance and consistent with Section 409A of the Code, the Committee shall have the power to accelerate the time at which an Award may first be exercised or the time during which an Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Award stating the time at which it may first be exercised or the time during which it will vest. Notwithstanding any other provision of the Plan to the contrary, Awards granted under the Plan (other than Cash Awards) shall vest no earlier than one (1) year after the Grant Date; *provided*, that the following Awards shall not be subject to the foregoing minimum vesting requirement: any (i) Substitute Awards, (ii) shares delivered in lieu of fully vested Cash Awards and (iii) any additional Awards the Committee may grant, up to a maximum of 5% of the Total Share Reserve authorized for issuance under the Plan pursuant to Section 4.1 (subject to adjustment under Section 11); and, *provided, further*, that the foregoing restriction does not

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apply to the Committee's discretion to provide for accelerated exercisability or vesting of any Award in the terms of any Award Agreement upon the occurrence of a specified event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2<u>Stockholder Rights</u>. Except as provided in the Plan or an Award Agreement, no Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Common Stock subject to such Award unless and until such Participant has satisfied all requirements for exercise of the Award pursuant to its terms and no adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property) or distributions of other rights for which the record date is prior to the date such Common Stock certificate is issued, except as provided in Section 11 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3<u>No Employment or Other Service Rights</u>. Nothing in the Plan or any instrument executed or Award granted pursuant thereto shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Award was granted or shall affect the right of the Company or an Affiliate to terminate (a) the employment of an Employee or the service of a Consultant with or without notice and with or without Cause or (b) the service of a Director pursuant to the By-laws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4<u>Transfer; Approved Leave of Absence</u>. For purposes of the Plan, no termination of employment by an Employee shall be deemed to result from either (a) a transfer of employment to the Company from an Affiliate or from the Company to an Affiliate, or from one Affiliate to another, or (b) an approved leave of absence for military service or sickness, or for any other purpose approved by the Company, if the Employee's right to reemployment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Committee otherwise so provides in writing, in either case, except to the extent inconsistent with Section 409A of the Code if the applicable Award is subject thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5<u>Withholding Obligations</u>. To the extent provided by the terms of an Award Agreement and subject to the discretion of the Committee, the Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition of Common Stock under an Award by any of the following means (in addition to the Company's right to withhold from any compensation paid to the Participant by the Company) or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable to the Participant as a result of the exercise or acquisition of Common Stock under the Award, *provided, however*, that no shares of Common Stock are withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered shares of Common Stock of the Company.

13.<u>Adjustments Upon Changes in Stock</u>. In the event of changes in the outstanding Common Stock or in the capital structure of the Company by reason of any stock or extraordinary cash dividend, stock split, reverse stock split, an extraordinary corporate transaction such as any recapitalization, reorganization, merger, consolidation, combination, exchange, or other relevant change in capitalization occurring after the Grant Date of any Award, Awards granted under the Plan and any Award Agreements, the exercise price of Options and Stock Appreciation Rights, the Performance Goals to which Performance Share Awards and Cash Awards are subject, and the maximum number of shares of Common Stock subject to all Awards stated in Section 4 will be equitably adjusted or substituted, as to the number, price or kind of a share of Common Stock or other consideration subject to such Awards to the extent necessary to preserve the economic intent of such Award. In the case of adjustments made pursuant to this Section 11, unless the Committee specifically determines that such adjustment is in the best interests of the Company

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or its Affiliates, the Committee shall, in the case of Incentive Stock Options, ensure that any adjustments under this Section 11 will not constitute a modification, extension or renewal of the Incentive Stock Options within the meaning of Section 424(h)(3) of the Code and in the case of Nonqualified Stock Options, ensure that any adjustments under this Section 11 will not constitute a modification of such Nonqualified Stock Options within the meaning of Section 409A of the Code. Any adjustments made under this Section 11 shall be made in a manner which does not adversely affect the exemption provided pursuant to Rule 16b-3. The Company shall give each Participant notice of an adjustment hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes.

14.<u>Effect of Change in Control</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1Unless otherwise provided in an Award Agreement, notwithstanding any provision of the Plan to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)In the event of a Change in Control, all outstanding Options and Stock Appreciation Rights shall become immediately exercisable with respect to 100% of the shares subject to such Options or Stock Appreciation Rights, and/or the Restricted Period shall expire immediately with respect to 100% of the outstanding shares of Restricted Stock or Restricted Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)With respect to Performance Share Awards and Cash Awards, in the event of a Change in Control, all incomplete Performance Periods in respect of such Awards in effect on the date the Change in Control occurs shall end on the date of such change and the Committee shall (i) determine the extent to which Performance Goals with respect to each such Performance Period have been met based upon such audited or unaudited financial information then available as it deems relevant and (ii) cause to be paid to the applicable Participant partial or full Awards with respect to Performance Goals for each such Performance Period based upon the Committee's determination of the degree of attainment of Performance Goals or, if not determinable, assuming that the applicable "target" levels of performance have been attained. The payment of such partial or full Award shall take place no later than two and one-half (2 ½) months following the end of the calendar year in which such Change in Control occurs.

To the extent practicable, any actions taken by the Committee under the immediately preceding clauses (a) and (b) shall occur in a manner and at a time which allows affected Participants the ability to participate in the Change in Control with respect to the shares of Common Stock subject to their Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2In addition, in the event of a Change in Control, the Committee may in its discretion and upon at least ten (10) days' advance notice to the affected persons, cancel any outstanding Awards and pay to the holders thereof, in cash or stock, or any combination thereof, the value of such Awards based upon the price per share of Common Stock received or to be received by other stockholders of the Company in the event. In the case of any Option or Stock Appreciation Right with an exercise price that equals or exceeds the price paid for a share of Common Stock in connection with the Change in Control, the Committee may cancel the Option or Stock Appreciation Right without the payment of consideration therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to all or substantially all of the assets and business of the Company and its Affiliates, taken as a whole.

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15.<u>Amendment of the Plan and Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1<u>Amendment of Plan</u>. The Board at any time, and from time to time, may amend or terminate the Plan. However, except as provided in Section 11 relating to adjustments upon changes in Common Stock and Section 13.3, no amendment shall be effective unless approved by the stockholders of the Company to the extent stockholder approval is necessary to satisfy any Applicable Laws. At the time of such amendment, the Board shall determine, upon advice from counsel, whether such amendment will be contingent on stockholder approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2<u>Stockholder Approval</u>. The Board may, in its sole discretion, submit any other amendment to the Plan for stockholder approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3<u>Contemplated Amendments</u>. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide eligible Employees, Consultants and Directors with the maximum benefits provided or to be provided under the provisions of the Code and the regulations promulgated thereunder relating to Incentive Stock Options or to the nonqualified deferred compensation provisions of Section 409A of the Code and/or to bring the Plan and/or Awards granted under it into compliance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.4<u>No Impairment of Rights</u>. Rights under any Award granted before amendment of the Plan shall not be impaired by any amendment of the Plan unless (a) the Company requests the consent of the Participant and (b) the Participant consents in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.5<u>Amendment of Awards</u>. In accordance and consistent with Section 409A of the Code, the Committee at any time, and from time to time, may amend the terms of any one or more Awards; *provided, however*, that the Committee may not affect any amendment which would otherwise constitute an impairment of the rights under any Award unless (a) the Company requests the consent of the Participant and (b) the Participant consents in writing.

16.<u>General Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1<u>Forfeiture Events</u>. The Committee may specify in an Award Agreement that the Participant's rights, payments and benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain events, in addition to applicable vesting conditions of an Award. Such events may include, without limitation, breach of non-competition, non-solicitation, confidentiality, or other restrictive covenants that are contained in the Award Agreement or otherwise applicable to the Participant, a termination of the Participant's Continuous Service for Cause, or other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2<u>Clawback</u>. Notwithstanding any other provisions in this Plan, in accordance and consistent with Section 409A of the Code, all Awards granted under the Plan that are subject to recovery under any law, government regulation or stock exchange listing requirement or any policy adopted by the Company that may be modified from time to time (a "**Clawback Policy**") will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement or Clawback Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3<u>Other Compensation Arrangements</u>. Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation arrangements, subject to stockholder approval if such approval is required; and such arrangements may be either generally applicable or applicable only in specific cases.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4<u>Unfunded Plan</u>. The Plan shall be unfunded. Neither the Company, the Board, nor the Committee shall be required to establish any special or separate fund or to segregate any assets to assure the performance of its obligations under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.5<u>Recapitalizations</u>. Each Award Agreement shall contain provisions required to reflect the provisions of Section 11.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.6<u>Delivery</u>. Upon exercise of a right granted under this Plan, the Company shall issue Common Stock or pay any amounts due within a reasonable period of time thereafter. Subject to any statutory or regulatory obligations the Company may otherwise have, for purposes of this Plan, thirty (30) days shall be considered a reasonable period of time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.7<u>No Fractional Shares</u>. No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan. The Committee shall determine whether cash, additional Awards or other securities or property shall be issued or paid in lieu of fractional shares of Common Stock or whether any fractional shares should be rounded, forfeited or otherwise eliminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.8<u>Other Provisions; Employment Agreements</u>. The Award Agreements authorized under the Plan may contain such other provisions not inconsistent with this Plan, including, without limitation, restrictions upon the exercise of Awards, as the Committee may deem advisable. In the event of any conflict between the terms of an employment agreement and the Plan, the terms of the employment agreement shall govern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.9<u>Section 409A</u>. The Plan is intended to comply with Section 409A of the Code to the extent subject thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and administered to be in compliance therewith. Any payments described in the Plan that are due within the "short-term deferral period" as defined in Section 409A of the Code shall not be treated as deferred compensation unless Applicable Laws require otherwise. Notwithstanding anything to the contrary in the Plan, to the extent required to avoid accelerated taxation and tax penalties under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six (6) month period immediately following the Participant's termination of Continuous Service shall instead be paid on the first payroll date after the six-month anniversary of the Participant's separation from service (or the Participant's death, if earlier). Notwithstanding the foregoing, none of the Company, the Board or the Committee shall have any obligation to take any action to prevent the assessment of any additional tax or penalty on any Participant under Section 409A of the Code and none of the Company, the Board or the Committee will have any liability to any Participant for such tax or penalty.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.10<u>Disqualifying Dispositions</u>. Any Participant who shall make a "disposition" (as defined in Section 424 of the Code) of all or any portion of shares of Common Stock acquired upon exercise of an Incentive Stock Option within two (2) years from the Grant Date of such Incentive Stock Option or within one (1) year after the issuance of the shares of Common Stock acquired upon exercise of such Incentive Stock Option (a "**Disqualifying Disposition**") shall be required to immediately advise the Company in writing as to the occurrence of the sale and the price realized upon the sale of such shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.11<u>Section 16</u>. It is the intent of the Company that the Plan satisfy, and be interpreted in a manner that satisfies, the applicable requirements of Rule 16b-3 so that Participants will be entitled to the benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing liability under Section 16 of the Exchange Act. Accordingly, if the operation of any provision of the Plan would conflict with the intent expressed in this Section 14.11, such provision to the extent possible shall be interpreted and/or deemed amended so as to avoid such conflict.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.12<u>Beneficiary Designation</u>. Each Participant under the Plan may from time to time name any beneficiary or beneficiaries by whom any right under the Plan is to be exercised in case of such Participant's death. Each designation will revoke all prior designations by the same Participant, shall be in a form reasonably prescribed by the Committee and shall be effective only when filed by the Participant in writing with the Company during the Participant's lifetime. If no valid beneficiary designation form is on file with the Company at the time of a Participant's death, the default beneficiary of such Participant shall be the Participant's spouse, if any, then to any children equally, per stirpes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.13<u>Expenses</u>. The costs of administering the Plan shall be paid by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.14<u>Severability</u>. If any of the provisions of the Plan or any Award Agreement is held to be invalid, illegal or unenforceable, whether in whole or in part, such provision shall be deemed modified to the extent, but only to the extent, of such invalidity, illegality or unenforceability and the remaining provisions shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.15<u>Plan Headings</u>. The headings in the Plan are for purposes of convenience only and are not intended to define or limit the construction of the provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.16<u>Non-Uniform Treatment</u>. The Committee's determinations under the Plan need not be uniform and may be made by it selectively among persons who are eligible to receive, or actually receive, Awards. Without limiting the generality of the foregoing, the Committee shall be entitled to make non-uniform and selective determinations, amendments and adjustments, and to enter into non-uniform and selective Award Agreements.

17.<u>Effective Date of Plan</u>. The Plan shall become effective as of the Effective Date, but no Award shall be exercised (or, in the case of a stock Award, shall be granted) unless and until the Plan has been approved by the stockholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by the Board.

18.<u>Termination or Suspension of the Plan</u>. The Plan shall terminate automatically on February 4, 2035. No Award shall be granted pursuant to the Plan after such date, but Awards theretofore granted may extend beyond that date. The Board may suspend or terminate the Plan at any earlier date pursuant to Section 13.1 hereof. No Awards may be granted under the Plan while the Plan is suspended or after it is terminated.

19.<u>Choice of Law</u>. The law of the State of Delaware shall govern all questions concerning the construction, validity and interpretation of this Plan, without regard to such state's conflict of law rules.

As originally adopted by the Board on March 7, 2019 and approved by the stockholders on April 29, 2019; as amended by the First Amendment, which was adopted by the Board and effective on March 7, 2019; as further amended by the Amended and Restated 2019 Incentive Plan, which was adopted by the Board on March 10, 2022 and approved by the stockholders on May 12, 2022; as further amended by the Second Amended and Restated 2019 Incentive Plan, which was adopted by the Board on February 4, 2025 and approved by the stockholders on May 8, 2025.

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## Exhibit 31.1

Exhibit 31.1

CERTIFICATION

I, Christopher L. Fowler, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of TruBridge, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 7, 2025

---

| |
|:---|
| /s/ Christopher L. Fowler |
| Christopher L. Fowler |
| President and Chief Executive Officer |

---

&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 31.2

Exhibit 31.2

CERTIFICATION

I, Vinay Bassi, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of TruBridge, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 7, 2025

---

| |
|:---|
| /s/ Vinay Bassi |
| Vinay Bassi |
| Chief Financial Officer |

---

## Exhibit 32.1

Exhibit 32.1

Certification Pursuant to

18 U.S.C. Section 1350,

As Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report of TruBridge, Inc. (the "Company") on Form 10-Q for the quarterly period ended September 30, 2025, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Christopher L. Fowler, President and Chief Executive Officer of the Company, and Vinay Bassi, Chief Financial Officer of the Company, each hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 7, 2025

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| |
|:---|
| /s/ Christopher L. Fowler |
| Christopher L. Fowler |
| President and Chief Executive Officer |
| /s/ Vinay Bassi |
| Vinay Bassi |
| Chief Financial Officer |

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