Veradigm names Donald Trigg as CEO, reports Q2 revenue decline

Veradigm Inc. (OTCMKTS: MDRX) appointed Donald Trigg as chief executive officer and board member on September 2, according to a company statement. The healthcare technology company also reported preliminary second-quarter revenue of $145 million to $148 million, down 2% at the midpoint compared to the same period in 2024.

The company's cash position increased to approximately $350 million as of June 30, 2025, up from $272 million at the end of the first quarter. This increase reflected $72 million in net inflows from debt financing and $23 million from investment portfolio activity, partially offset by $7 million in capital expenditures and $10 million in net operating outflows.

Veradigm completed two significant debt repurchases during the quarter. On July 1, 2025, the company repurchased convertible notes for approximately $180 million, including $164 million in principal and $16 million in premiums and interest. A second repurchase on September 29, 2025, involved approximately $50 million, including $44 million in principal.

Following these transactions, the company's debt consists primarily of a $75 million senior secured term loan facility maturing in June 2030. As of September 29, 2025, Veradigm had 108.9 million shares of common stock outstanding and 10.6 million unvested restricted stock units.

The commercial team closed deals worth over $30 million in annual contract value during the second quarter, matching the first quarter's performance, according to Interim Chief Financial Officer Lee Westerfield.

Veradigm reaffirmed its fiscal 2025 revenue guidance of approximately $583 million to $588 million, expecting to remain flat compared to 2024. The company also expects to maintain a positive net cash position for the year.

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