This page shows Veradigm (MDRX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Veradigm’s asset-light model now turns modest sales into cash, while overhead volatility makes accounting profit look weaker.
Over the last year, free cash flow swung from-$78.5M to$113.5M even though the company stayed unprofitable on both the operating and net lines. That gap points to earnings quality running through non-cash charges and tiny reinvestment needs: depreciation and amortization were large while capex was only$2.1M , so cash generation recovered without a matching income-statement recovery.
Gross margin expansion to
Balance-sheet posture improved: cash of
Financial Health Signals
We are recalculating Veradigm's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Veradigm scores 1.06, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($516.6M) relative to total liabilities ($548.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Veradigm passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Veradigm generates $0.07 in operating cash flow (-$20.0M OCF vs -$291.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Veradigm earns $-12.9 in operating income for every $1 of interest expense (-$194.7M vs $15.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Veradigm generated $594.4M in revenue in fiscal year 2024. This represents a decrease of 5.0% from the prior year.
Veradigm's EBITDA was -$148.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 270.6% from the prior year.
Veradigm reported -$291.5M in net income in fiscal year 2024. This represents a decrease of 692.8% from the prior year.
Veradigm earned $-2.70 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 758.5% from the prior year.
Cash & Balance Sheet
Veradigm generated -$21.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 122.2% from the prior year.
Veradigm held $294.3M in cash against $72.2M in long-term debt as of fiscal year 2024.
Margins & Returns
Veradigm's gross margin was 50.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 3.7 percentage points from the prior year.
Veradigm's operating margin was -32.8% in fiscal year 2024, reflecting core business profitability. This is down 38.3 percentage points from the prior year.
Veradigm's net profit margin was -49.0% in fiscal year 2024, showing the share of revenue converted to profit. This is down 56.9 percentage points from the prior year.
Veradigm's ROE was -36.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 40.8 percentage points from the prior year.
Capital Allocation
Veradigm invested $108.3M in research and development in fiscal year 2024. This represents an increase of 11.6% from the prior year.
Veradigm spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Veradigm invested $1.6M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 28.9% from the prior year.
MDRX Income Statement
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $150.1M+3.4% | $145.2M-5.0% | $152.8M+4.4% | $146.4M-5.3% | $154.5M+3.8% | $148.8M-14.1% | $173.2M+15.9% | $149.5M |
| Cost of Revenue | $75.0M+3.0% | $72.8M+0.7% | $72.3M+0.5% | $72.0M+1.7% | $70.8M+1.0% | $70.1M-5.1% | $73.8M+5.9% | $69.7M |
| Gross Profit | $75.0M+3.7% | $72.4M-10.1% | $80.5M+8.2% | $74.4M-11.1% | $83.7M+6.3% | $78.7M-20.8% | $99.4M+24.6% | $79.7M |
| R&D Expenses | $26.4M-2.1% | $27.0M+0.1% | $26.9M-3.7% | $28.0M+19.4% | $23.4M-0.9% | $23.6M-0.6% | $23.8M-9.4% | $26.2M |
| SG&A Expenses | $57.2M-12.9% | $65.7M-4.9% | $69.0M-10.9% | $77.5M+23.8% | $62.6M+21.2% | $51.7M+31.2% | $39.4M-16.8% | $47.3M |
| Operating Income | -$11.4M+50.6% | -$23.1M+4.6% | -$24.2M+82.2% | -$136.1M-2986.1% | -$4.4M-455.0% | $1.2M-96.3% | $34.0M+791.0% | $3.8M |
| Interest Expense | $3.3M-9.3% | $3.7M-3.8% | $3.8M-10.1% | $4.2M+243.3% | $1.2M-15.5% | $1.5M+7.1% | $1.4M+10.8% | $1.2M |
| Income Tax | $91.3M+3198.7% | -$2.9M-53.3% | -$1.9M+88.7% | -$17.0M-152.3% | -$6.7M-280.4% | $3.7M-63.2% | $10.1M+186.0% | $3.5M |
| Net Income | -$113.6M-365.8% | -$24.4M+1.1% | -$24.7M+80.9% | -$128.9M-2251.6% | $6.0M-63.6% | $16.5M-34.3% | $25.1M+1414.3% | $1.7M |
| EPS (Diluted) | N/A | $-0.230.0% | $-0.23+80.7% | $-1.19 | N/A | $0.14-33.3% | $0.21+950.0% | $0.02 |
MDRX Balance Sheet
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B-7.5% | $1.5B-2.0% | $1.5B-1.6% | $1.5B-3.6% | $1.6B-0.3% | $1.6B+1.2% | $1.6B+1.1% | $1.5B |
| Current Assets | $545.6M-2.0% | $556.9M-5.1% | $586.7M-3.3% | $606.8M-13.2% | $699.2M-2.3% | $716.0M+0.6% | $711.7M+2.3% | $695.6M |
| Cash & Equivalents | $294.3M-2.7% | $302.3M-8.6% | $330.7M-3.7% | $343.5M-23.1% | $446.6M-2.0% | $455.7M-3.3% | $471.2M+3.8% | $453.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $107.6M-5.8% | $114.2M-5.6% | $121.0M+9.1% | $110.9M-0.2% | $111.2M-5.9% | $118.1M+1.3% | $116.6M+1.4% | $114.9M |
| Goodwill | $520.7M0.0% | $520.7M0.0% | $520.7M0.0% | $520.7M-2.2% | $532.5M0.0% | $532.5M0.0% | $532.5M0.0% | $532.5M |
| Total Liabilities | $548.3M-0.3% | $550.0M-2.1% | $561.5M-0.7% | $565.6M+13.5% | $498.4M-2.5% | $511.4M+0.2% | $510.7M-1.5% | $518.2M |
| Current Liabilities | $421.9M+0.2% | $421.0M-1.5% | $427.2M-14.9% | $502.1M+12.6% | $446.0M-1.7% | $453.9M+0.4% | $452.2M-1.5% | $459.1M |
| Long-Term Debt | $72.2M0.0% | $72.2M0.0% | $72.2M | $0 | $0 | N/A | N/A | N/A |
| Total Equity | $804.0M-11.8% | $911.3M-1.9% | $929.2M-2.2% | $950.0M-11.6% | $1.1B+0.8% | $1.1B+1.7% | $1.0B+2.4% | $1.0B |
| Retained Earnings | $403.4M-22.0% | $517.1M-4.5% | $541.4M-4.4% | $566.1M-18.5% | $695.0M+0.9% | $689.0M+2.4% | $672.5M+3.9% | $647.5M |
MDRX Cash Flow Statement
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.7M+76.6% | -$11.3M+45.4% | -$20.8M-240.9% | $14.7M-26.2% | $20.0M-23.1% | $26.0M-11.0% | $29.2M+19.7% | $24.4M |
| Capital Expenditures | $334K+125.7% | $148K-78.6% | $691K+82.3% | $379K+6.5% | $356K+77.1% | $201K-46.0% | $372K-70.3% | $1.3M |
| Free Cash Flow | -$3.0M+74.0% | -$11.5M+46.5% | -$21.5M-249.4% | $14.4M-26.8% | $19.6M-23.9% | $25.8M-10.6% | $28.8M+24.6% | $23.1M |
| Investing Cash Flow | -$5.4M+67.5% | -$16.5M-260.7% | $10.3M+109.0% | -$114.1M-304.5% | -$28.2M+26.3% | -$38.3M-436.9% | -$7.1M+51.5% | -$14.7M |
| Financing Cash Flow | -$3K+99.5% | -$614K+73.0% | -$2.3M+39.4% | -$3.8M-320.4% | -$894K+71.6% | -$3.1M+34.5% | -$4.8M-32.5% | -$3.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
MDRX Financial Ratios
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.0%+0.2pp | 49.8%-2.8pp | 52.7%+1.8pp | 50.8%-3.4pp | 54.2%+1.3pp | 52.9%-4.5pp | 57.4%+4.0pp | 53.3% |
| Operating Margin | -7.6%+8.3pp | -15.9%-0.1pp | -15.8%+77.2pp | -93.0%-90.1pp | -2.9%-3.7pp | 0.8%-18.8pp | 19.6%+17.1pp | 2.5% |
| Net Margin | -75.7%-58.9pp | -16.8%-0.7pp | -16.1%+71.9pp | -88.1%-91.9pp | 3.9%-7.2pp | 11.1%-3.4pp | 14.5%+13.4pp | 1.1% |
| Return on Equity | -14.1%-11.4pp | -2.7%-0.0pp | -2.6%+10.9pp | -13.6%-14.1pp | 0.6%-1.0pp | 1.6%-0.8pp | 2.4%+2.2pp | 0.2% |
| Return on Assets | -8.4%-6.7pp | -1.7%-0.0pp | -1.7%+6.9pp | -8.5%-8.9pp | 0.4%-0.7pp | 1.0%-0.6pp | 1.6%+1.5pp | 0.1% |
| Current Ratio | 1.29-0.0 | 1.32-0.1 | 1.37+0.2 | 1.21-0.4 | 1.570.0 | 1.580.0 | 1.57+0.1 | 1.51 |
| Debt-to-Equity | 0.09+0.0 | 0.080.0 | 0.08+0.1 | 0.000.0 | 0.00-0.5 | 0.480.0 | 0.49-0.0 | 0.51 |
| FCF Margin | -2.0%+5.9pp | -7.9%+6.1pp | -14.0%-23.8pp | 9.8%-2.9pp | 12.7%-4.6pp | 17.3%+0.7pp | 16.6%+1.2pp | 15.5% |
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Frequently Asked Questions
What is Veradigm's annual revenue?
Veradigm (MDRX) reported $594.4M in total revenue for fiscal year 2024. This represents a -5.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Veradigm's revenue growing?
Veradigm (MDRX) revenue declined by 5% year-over-year, from $626.0M to $594.4M in fiscal year 2024.
Is Veradigm profitable?
No, Veradigm (MDRX) reported a net income of -$291.5M in fiscal year 2024, with a net profit margin of -49.0%.
What is Veradigm's EBITDA?
Veradigm (MDRX) had EBITDA of -$148.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Veradigm have?
As of fiscal year 2024, Veradigm (MDRX) had $294.3M in cash and equivalents against $72.2M in long-term debt.
What is Veradigm's gross margin?
Veradigm (MDRX) had a gross margin of 50.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Veradigm's operating margin?
Veradigm (MDRX) had an operating margin of -32.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Veradigm's net profit margin?
Veradigm (MDRX) had a net profit margin of -49.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Veradigm's return on equity (ROE)?
Veradigm (MDRX) has a return on equity of -36.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Veradigm's free cash flow?
Veradigm (MDRX) generated -$21.6M in free cash flow during fiscal year 2024. This represents a -122.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Veradigm's operating cash flow?
Veradigm (MDRX) generated -$20.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Veradigm's total assets?
Veradigm (MDRX) had $1.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Veradigm's capital expenditures?
Veradigm (MDRX) invested $1.6M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Veradigm spend on research and development?
Veradigm (MDRX) invested $108.3M in research and development during fiscal year 2024.
What is Veradigm's current ratio?
Veradigm (MDRX) had a current ratio of 1.29 as of fiscal year 2024, which is considered adequate.
What is Veradigm's debt-to-equity ratio?
Veradigm (MDRX) had a debt-to-equity ratio of 0.09 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Veradigm's return on assets (ROA)?
Veradigm (MDRX) had a return on assets of -21.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Veradigm's cash runway?
Based on fiscal year 2024 data, Veradigm (MDRX) had $294.3M in cash against an annual operating cash burn of $20.0M. This gives an estimated cash runway of approximately 176 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Veradigm's Altman Z-Score?
Veradigm (MDRX) has an Altman Z-Score of 1.06, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Veradigm's Piotroski F-Score?
Veradigm (MDRX) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Veradigm's earnings high quality?
Veradigm (MDRX) has an earnings quality ratio of 0.07x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Veradigm cover its interest payments?
Veradigm (MDRX) has an interest coverage ratio of -12.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.