**Veradigm Inc. Reports Financial Results for Fiscal Year 2024**
Veradigm Inc., formerly Allscripts Healthcare Solutions, Inc., has released its financial results for the fiscal year ended December 31, 2024, reporting total revenue of $594.4 million. This represents a decrease of $31.6 million compared to the $625.98 million reported for the fiscal year 2023. The company's gross profit for 2024 was $302.2 million, a decrease from $341.5 million in the previous year. The decline in revenue and gross profit was attributed to decreases across all three of its business segments: Provider, Payer, and Life Science, and an increase in hosting costs.
The company's selling, general, and administrative expenses increased significantly to $269.4 million in 2024, compared to $200.9 million in 2023. This increase was primarily due to higher consulting and audit service fees, increased compensation expenses, and higher legal costs. Research and development expenses also increased to $108.3 million, up from $97.0 million in the prior year, driven by higher personnel-related costs. A substantial impairment charge of $108.2 million was recorded in 2024, compared to $0.2 million in 2023, primarily related to a goodwill impairment resulting from a decline in the market value of the company's common stock. The company reported a loss from continuing operations, net of tax, of $291.6 million for 2024, compared to income of $49.2 million for 2023.
Operationally, Veradigm has been focusing on a "reset, recover, reignite" strategy, which includes optimizing its product portfolio, investing in higher-growth solutions, and deepening alignment with independent physician practices. The company has also been working to improve operational efficiency through a more centralized global operating model and increased adoption of AI across its products. As of December 31, 2025, Veradigm had approximately 2,300 employees, with 61% located in the United States and 37% in India.
Looking ahead, Veradigm is focused on remediating material weaknesses in its internal controls, becoming current with its SEC reporting obligations, and relisting its common stock on a national securities exchange. The company is also working to enhance its cybersecurity risk management strategy and has implemented an enterprise-wide information security program. The company's strategy centers on restoring growth and strengthening its market position, particularly with independent physician practices, and it anticipates continued pressure to increase interoperability in the healthcare industry.
About Veradigm Inc.
Veradigm Inc. is a healthcare technology and analytics company providing electronic health records, practice management, revenue cycle, patient engagement, and data solutions across provider, payer, and life sciences markets. Its open, integrated platforms support clinical and financial workflows, data exchange, and real-world evidence generation, aiming to improve healthcare quality, efficiency, and outcomes through innovative, scalable, and compliant solutions for diverse healthcare stakeholders in the U.S.
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