TruBridge ( (TBRG) ) has released a notification of late filing.
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TruBridge, Inc. has filed a Form 12b-25 to notify investors that its Form 10-K (Yearly Report) for the year ended December 31, 2025 is delayed. The company is seeking extra time to complete its annual filing for the 2025 fiscal year.
Management discovered “out-of-period” errors in previously issued financial statements for 2023, 2024, and the 2025 interim quarters. These issues involve revenue recognition and related contract costs, stock-based compensation, and capitalized software development costs.
As a result, TruBridge must revise earlier Form 10-K (Yearly Report) filings for 2023 and 2024 to shift some revenues, costs, and expenses into the correct periods. The company currently believes these errors do not cause a material misstatement of those past financial statements.
The company states that additional documentation, disclosures, and analyses are still needed to support the 2025 Form 10-K (Yearly Report). It expects to submit the overdue annual report within the standard 15-calendar-day extension allowed under SEC Rule 12b-25.
The identified errors point to material weaknesses in internal control over financial reporting as of December 31, 2025. The weaknesses relate to revenue recognition, stock-based compensation processes, and how software development costs are capitalized and tracked.
TruBridge says its management, under the Audit Committee’s oversight, has begun remediation efforts and plans further measures in 2026. These steps include redesigning and implementing additional controls and using outside consultants where needed to strengthen financial reporting.
Despite the control issues, the company expects significant year-over-year improvements in profitability for 2025 after the adjustments. TruBridge anticipates income before taxes to rise about 130%, net income about 120%, and net income per share about 120%, while revenue and operating expenses should be broadly unchanged.
These figures are preliminary and subject to change as the 2025 financial statements and the audit are finalized. The company also cautions that its forward-looking statements involve risks, including the possibility of further adjustments, additional delays, or more control weaknesses being identified.
All other required SEC reports over the last 12 months have been filed on time. The late-filing notice is signed on behalf of TruBridge by Chief Financial Officer Vinay Bassi on March 17, 2026, underscoring executive responsibility for the disclosure and ongoing compliance work.
The most recent analyst rating on (TBRG) stock is a Hold with a $20.50 price target. To see the full list of analyst forecasts on TruBridge stock, see the TBRG Stock Forecast page.
Spark’s Take on TBRG Stock
According to Spark, TipRanks’ AI Analyst, TBRG is a Neutral.
The score is driven primarily by solid financial momentum in revenue and cash flow and constructive margin guidance, but is held back by weak profitability (negative net margin/ROE), a very high P/E valuation, and only neutral-to-soft technical momentum.
To see Spark’s full report on TBRG stock, click here.
More about TruBridge
Average Trading Volume: 106,103
Technical Sentiment Signal: Strong Sell
Current Market Cap: $264M
For detailed information about TBRG stock, go to TipRanks’ Stock Analysis page.