CareCloud Confirms ICFR Attestation Requirement Following $85.1 Million Public Float Milestone; Launches Audit Firm Search
CareCloud (Nasdaq: CCLD), an AI-driven healthcare technology solutions provider, has announced reaching a significant milestone with a public float of $85.1 million as of June 30, 2025. This achievement triggers new SEC compliance requirements, specifically the need for auditor attestation of Internal Control over Financial Reporting (ICFR) under Sarbanes-Oxley Act Section 404(b).
The Company's current audit firm has indicated it lacks capacity to perform the required ICFR attestation. As SEC regulations mandate the same firm conduct both financial statement audit and ICFR attestation, CareCloud has initiated a search for a new audit firm to handle these responsibilities for fiscal year 2025.
CareCloud (Nasdaq: CCLD), fornitore di soluzioni tecnologiche sanitarie basate sull'intelligenza artificiale, ha annunciato di aver raggiunto un traguardo importante con un public float di 85,1 milioni di dollari al 30 giugno 2025. Questo risultato comporta nuovi requisiti di conformità SEC, in particolare la necessità di una certificazione da parte del revisore dei controlli interni sulla rendicontazione finanziaria (ICFR) secondo la Sezione 404(b) del Sarbanes-Oxley Act.
La società di revisione attuale ha comunicato di non avere la capacità di effettuare la certificazione ICFR richiesta. Poiché le normative SEC impongono che la stessa società esegua sia la revisione del bilancio che la certificazione ICFR, CareCloud ha avviato la ricerca di un nuovo studio di revisione che si occupi di queste responsabilità per l'esercizio fiscale 2025.
CareCloud (Nasdaq: CCLD), un proveedor de soluciones tecnológicas en salud impulsadas por IA, ha anunciado que ha alcanzado un hito significativo con un public float de 85.1 millones de dólares al 30 de junio de 2025. Este logro activa nuevos requisitos de cumplimiento de la SEC, específicamente la necesidad de una certificación del auditor sobre el Control Interno sobre la Información Financiera (ICFR) bajo la Sección 404(b) de la Ley Sarbanes-Oxley.
La firma auditora actual de la compañía ha indicado que no tiene capacidad para realizar la certificación ICFR requerida. Dado que las regulaciones de la SEC exigen que la misma firma realice tanto la auditoría de los estados financieros como la certificación ICFR, CareCloud ha iniciado la búsqueda de una nueva firma auditora para encargarse de estas responsabilidades durante el año fiscal 2025.
CareCloud (나스닥: CCLD)는 AI 기반 헬스케어 기술 솔루션 제공업체로서 2025년 6월 30일 기준 공개 유통 주식 수가 8,510만 달러에 도달하는 중요한 이정표를 달성했다고 발표했습니다. 이 성과는 Sarbanes-Oxley 법 404(b) 조항에 따른 재무보고 내부 통제(ICFR)에 대한 감사인의 확인이 필요하다는 새로운 SEC 준수 요건을 촉발합니다.
현재 회사의 감사 법인은 필요한 ICFR 확인을 수행할 역량이 없다고 밝혔습니다. SEC 규정에 따라 동일한 감사 법인이 재무제표 감사와 ICFR 확인을 모두 수행해야 하므로, CareCloud는 2025 회계연도에 이 책임을 맡을 새로운 감사 법인 선정을 시작했습니다.
CareCloud (Nasdaq : CCLD), fournisseur de solutions technologiques de santé basées sur l'IA, a annoncé avoir atteint un jalon important avec un flottant public de 85,1 millions de dollars au 30 juin 2025. Cette réalisation entraîne de nouvelles obligations de conformité auprès de la SEC, notamment la nécessité d'une attestation par l'auditeur du contrôle interne sur le reporting financier (ICFR) conformément à la section 404(b) de la loi Sarbanes-Oxley.
Le cabinet d'audit actuel de la société a indiqué ne pas disposer des capacités nécessaires pour réaliser l'attestation ICFR requise. Comme les régulations de la SEC imposent que le même cabinet réalise à la fois l'audit des états financiers et l'attestation ICFR, CareCloud a lancé une recherche d'un nouveau cabinet d'audit pour prendre en charge ces responsabilités pour l'exercice 2025.
CareCloud (Nasdaq: CCLD), ein Anbieter von KI-gesteuerten Gesundheitstechnologielösungen, hat einen wichtigen Meilenstein erreicht: einen Free Float von 85,1 Millionen US-Dollar zum 30. Juni 2025. Dieser Erfolg löst neue SEC-Compliance-Anforderungen aus, insbesondere die Notwendigkeit einer Prüferbestätigung der Internen Kontrolle über die Finanzberichterstattung (ICFR) gemäß Abschnitt 404(b) des Sarbanes-Oxley-Gesetzes.
Die derzeitige Wirtschaftsprüfungsgesellschaft des Unternehmens hat mitgeteilt, dass sie nicht über die Kapazitäten verfügt, die erforderliche ICFR-Bestätigung durchzuführen. Da SEC-Vorschriften verlangen, dass dieselbe Firma sowohl die Abschlussprüfung als auch die ICFR-Bestätigung durchführt, hat CareCloud die Suche nach einer neuen Wirtschaftsprüfungsgesellschaft für das Geschäftsjahr 2025 eingeleitet.
- None.
- Current audit firm unable to perform required ICFR attestation
- Necessary change in auditors could potentially impact timing and costs of financial reporting
SOMERSET, N.J., July 01, 2025 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: CCLD, CCLDO) (“CareCloud” or the “Company”), a leader in AI-driven healthcare technology solutions for medical practices and health systems nationwide, today announced that it has surpassed the accelerated filer threshold with a public float of
“This milestone is a powerful validation of CareCloud’s growth trajectory, investor confidence, and long-term market position,” said Stephen Snyder, Co-CEO of CareCloud. “We are entering this next phase with energy and focus, reinforcing our commitment to rigorous compliance, operational excellence, and world-class corporate governance.”
The Company’s current audit firm notified CareCloud that it does not have the capacity to perform the ICFR attestation. Because SEC rules require the same audit firm to conduct both the financial statement audit and the ICFR attestation, a change in auditors is likely necessary.
To ensure full regulatory compliance and timely filing, CareCloud has launched a formal process to engage a new audit firm capable of delivering the full scope of services required for fiscal year 2025.
The Company will provide an update as soon as a new audit firm is selected and engaged.
About CareCloud
CareCloud brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health, at carecloud.com.
Follow CareCloud on LinkedIn, X and Facebook.
For additional information, please visit our website at carecloud.com. To listen to video presentations by CareCloud’s management team, read recent press releases and view the latest investor presentation, please visit ir.carecloud.com.
Disclaimer
This press release is for information purposes only and does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
Forward-Looking Statements
This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could”, “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.
Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management's expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.
These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.
The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
SOURCE: CareCloud
Company Contact:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
nroth@carecloud.com
Investor Contact:
Stephen Snyder
Co-Chief Executive Officer
CareCloud, Inc.
ir@carecloud.com
FAQ
What is CareCloud's (CCLD) current public float value?
Why does CareCloud (CCLD) need to change its audit firm?
What new compliance requirement has CareCloud (CCLD) triggered?
When will CareCloud (CCLD) implement the new audit requirements?
Who announced this milestone for CareCloud (CCLD)?
