TruBridge, Inc.

Greetings and welcome to the TrueBridge third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Drew Anderson. Thank you. You may begin.

Thank you. Good morning, and welcome to the TrueBridge third quarter 2025 earnings conference call. Leading today's call are Chris Fowler, President and Chief Executive Officer, and Denae Bassey, Chief Financial Officer. This call may include statements regarding future operating plans, expectations, and performance that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The company cautions you that any such forward-looking statements only reflect management expectations and predictions based upon currently available information and are not guarantees of future results or performance. Actual results might differ materially from those expressed or implied by such forward-looking statements as a result of known and unknown risk uncertainties, and other factors, including those described in public releases and reports filed with the Securities and Exchange Commission, including but not limited to the most recent annual report on Quantum 10K. The company also cautions investors that the forward-looking information provided in this call represents their outlook only as of this date, and they undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this call. At this time, I will turn the call over to Mr. Chris Fowler, President and Chief Executive Officer. Please go ahead, sir.

Thank you, Drew. And thank you to everyone for joining us today to discuss our Q3 results. To start the discussion, I want to take a moment to reflect on the meaningful progress we've made to improve the quality of our earnings and our financial performance over the past seven quarters through our continuous focus on streamlining and improving our operations. Specifically, we have expanded margins, accelerated free cash flow generation, and de-levered the balance sheet, all while continuing to support our customers with mission-critical solutions that improve financial and operational performance across rural and community hospitals. Vinay will provide a much deeper dive into the details of the success these initiatives have yielded, but I'm very proud of the work we've done and believe we can replicate these efforts in other areas of the business. Turning to the specifics of the quarter, Our bookings came in at $15.5 million on a TCV basis compared to $25.6 million sequentially and $21 million year over year. While light from an absolute dollar basis, our focus is on continually improving the quality of bookings, which is more evident when you look at the numbers on a year-to-day basis. As we've mentioned in the past, investments we've made to improve our products, specifically within our encoder business, have allowed us to win higher margin deals. Along with positive traction with an encoder, we've seen our percentage of financial health bookings in the 100 to 400-bed space increase from less than 20% in 2024 to more than 30% in 2025. As we continue to succeed in RCM tech and in the 100 to 400-bed space, we create more paths to improve bookings performance quarter over quarter and year over year. While the bookings performance of Q3 was underwhelming, our fourth quarter sales efforts are off to a strong start. Historically, bookings have been weighted towards the end of the quarter, but October meaningfully outpaced what we typically expect to book in the first month of a given quarter. Broadly speaking, our bookings still remain chunky, so we're not claiming victory just yet, but we are pleased with the signs that whatever was restricting pipeline conversion in Q3 seems to have alleviated. In today's operating environment, not all factors are within our control, so we continue to focus on addressing the challenges that are within our control, like ensuring that we have the highest quality talent on board. In early October, we officially welcomed Mike Dalton to the TrueBridge team as our Chief Business Officer. In this role, Mike will be leading sales and marketing and our client success teams. He is focused on building high-performing teams, holding key team members accountable for exceptional client management and consistently delivering enterprise value and measurable impact. Our expectation of Mike is that he will raise our sales efforts to the next level in terms of order and efficiency, providing more visibility into tracking bookings and revenue growth and focusing on those high-quality opportunities I spoke about earlier. He brings a skill set that will empower our team to go after the larger market, which we know is obtainable with the right discipline and focus. To further enhance our performance initiatives, I'm pleased to report that our offshore transition is progressing as we start to operationalize the strategic plan we spoke about last quarter. We continue to fill out our leadership team, including a head of India, to ensure we have the right leaders in place to execute on the plan. The team has made the foundational improvements necessary to ensure success and put in place the thorough metrics-driven approach we believe was imperative to allow us to turn the transition machine back on. As of October 1st, we have begun at a measured pace. Currently, we have two transitions in the works with more coming in the fourth quarter. As we restart our transitions, We are working in close coordination with each customer to provide a clear understanding of the expectations of how the process will unfold. We have also put in place structural support to ensure continuity of staff from our domestic workforce on each transition to guarantee a stable handoff. As we look ahead to 2026, we plan for transitions to accelerate gradually, but will only do so when we are confident it will not cause disruption. As we move carefully through the customers to be transitioned, we will track performance metrics with a hyper focus on stability, communication, and each customer's comfort with the process. We've stated all along that this process is key to continued margin expansion in 2026 and beyond, but we will not sacrifice the quality of our service to get there. Our commitment to the strategic transition process would not receive a great grade if improved client retention wasn't an intended outcome. While the absolute number of client losses increased a little in Q3, our net revenue retention for our core CBO business has shown a couple of points of improvement from the first half of the year. Renewals were stronger in Q3 than in Q2, and that trend continues into October. As we shared previously, we initiated a multi-quarter process earlier this year to enhance client success quality, drive operational efficiency, and strengthen the capabilities of our India team. I believe this, along with the careful and strategic approach we've taken to restart our transition process, will give us the opportunity to improve our long-term client retention. Looking ahead to the end of 2025 and into 2026, The keys to sustainable and durable performance for TrueBridge are clear. First, implementing the rigor that has led to success in improving our financial health into more areas of the business. Two, deliver higher quality bookings. And three, carefully and thoughtfully executing on our strategic transition process and in turn, improving customer satisfaction with the goal of increasing our retention. During the third quarter, We make strategic and effective changes to drive sustainable long-term performance. We know we have the right foundation in place to progress in these areas and look forward to providing updates in the coming quarters. With that, I'll turn the call over to Benay to review the financials. Benay?