CareCloud Inc. Completes Full Redemption of Series B Preferred Stock: A New Era of Growth

On May 18, 2026, CareCloud Inc. (Nasdaq: CCLD), a frontrunner in AI-powered healthcare technology and revenue cycle management solutions, announced the full redemption of its 8.75% Series B Preferred Stock. This significant move marks a pivotal moment in the company’s evolution, capping off a decade of transformational growth and profitability.

The redemption, which involved the full buyback of 100% of the outstanding preferred stock, was financed through a recently secured $50 million credit facility led by Citizens Bank, one of the largest commercial banks in the United States, boasting over $220 billion in assets. This strategic maneuver replaces higher-cost preferred equity with more economical institutional financing, providing a strong validation of CareCloud’s operational performance and long-term growth strategy.

Stephen Snyder, Chief Executive Officer of CareCloud, expressed his enthusiasm regarding this transformative step. “This is a defining moment for CareCloud,” he stated. “Over the past decade, preferred equity helped fuel our transformation from a traditional medical billing company into a scaled, profitable, AI-enabled healthcare technology platform.” Snyder highlighted the company’s cleaner capital structure, enhanced cash flow, and a promising trajectory towards long-term shareholder value creation.

Since issuing its first preferred shares in 2015, CareCloud has undergone remarkable growth:

These milestones reflect the development of a high-quality, recurring-revenue platform, with approximately $30 million in annualized adjusted EBITDA anticipated during 2026. The company is also witnessing expanding margins, largely driven by its investments in automation and AI.

Alongside the redemption announcement, CareCloud revealed its retention of a $60 million At-The-Market (ATM) equity facility with Citizens Bank. This facility offers the company substantial strategic flexibility to capitalize on future growth opportunities. Management plans to utilize the ATM opportunistically and only when the company’s stock price is at or above $5.00 per share—the same price point at which CareCloud completed its initial public offering.

Snyder emphasized that the ATM is viewed as a capital-efficient tool for accessing growth capital, rather than a necessary source of liquidity.

With the redemption of the Series B Preferred Stock complete and a significantly streamlined capital structure in place, CareCloud is poised to enter a new chapter as a profitable and cash-generative healthcare technology company. Snyder concluded, "We believe we are exceptionally well-positioned to accelerate growth, expand margins through AI and automation, and continue building long-term value for our shareholders."

CareCloud is committed to driving innovation within the healthcare sector. The company offers a comprehensive suite of AI and technology-enabled solutions that enhance financial and operational performance, streamline clinical workflows, and improve patient experiences. With over 45,000 providers relying on its offerings, CareCloud continues to play a crucial role in transforming healthcare management.

For ongoing updates, stakeholders can follow CareCloud on LinkedIn, X, and Facebook, or visit their website for more information. As the company navigates through this transformative period, all eyes will be on its growth trajectory and continued commitment to enhancing healthcare technology.