MeritValue

CareCloud, Inc.

CCLDdata completeness 75%13 fiscal years on file

Data notes: no data for concept 'interestExpense'

The thesis, from the filings

CareCloud, Inc. earns about -10% on invested capital, below its ~9% cost of capital, but has diluted owners by 161% over 5 years — no moat visible in the numbers. The estimate methods put fair value between $1.48 and $29.77 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$139.6M1$138.8M2$117.1M3$110.8M4$120.5M4
Net income$2.84M5$5.43M6−$48.7M7$7.85M8$10.8M8
Operating cash flow$13.3M9$21.2M10$15.5M11$20.6M12$28.6M12
Capital expenditure$2.93M13$2.59M14$3.06M15$1.7M16$4.78M16
Free cash flow (derived)$10.4M9$18.6M10$12.4M11$18.9M12$23.8M12
Total debt—————
Cash & equivalents$9.34M17$12.3M17———
Diluted shares14.5M15.1M15.7M16.1M38.0M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
$15.68
your share of equity
Profit it earned you last year
$2.85
Free cash flow it threw off
$6.27
Debt you’d be carrying
—

10 shares is a claim on $15.68 of net worth that earned you $2.85 and generated $6.27 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
-10% avg · 5y
FY21 3%FY22 6%FY23 -93%FY24 16%FY25 18%

It earned about -10% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.

seeing a moat in the numbers →
Management signal · capital allocation
+161% shares · 5y

Share count is up 161% over 5 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0

The 3 estimate methods that apply put fair value between $1.48 and $29.77 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.

DCF · Growth Exit 10Y
$29.77
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth20.0%
  • fcfBase$18.9M
DCF · Growth Exit 5Y
$16.27
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth20.0%
  • fcfBase$18.9M
Earnings Power Value
$1.48
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$5.43M
  • growthAssumed0.0%
Graham Number
$1.88
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

v. The price question — last, on purpose
Is today’s price fair?
See live price ↗
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years20.0%
Discount rate (WACC)8.93%
Terminal growth2.5%
At your growth, a share is worth $16.27
The three cases
Bear0.0%$7.13
Base20.0%$16.27
Bull20.0%$16.27

Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.

Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001493152-23-006580 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001493152-24-010800 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K/A · period ending 2023-12-31 · accession 0001641172-25-002589 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001493152-26-009872 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001493152-23-006580 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001493152-24-010800 (NetIncomeLoss)
  7. 10-K/A · period ending 2023-12-31 · accession 0001641172-25-002589 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001493152-26-009872 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001493152-23-006580 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001493152-24-010800 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K/A · period ending 2023-12-31 · accession 0001641172-25-002589 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001493152-26-009872 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001493152-23-006580 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001493152-24-010800 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K/A · period ending 2023-12-31 · accession 0001641172-25-002589 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001493152-26-009872 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0001493152-23-006580 (CashAndCashEquivalentsAtCarryingValue)