Acquisition and Growth - Issuer Direct acquired iNewswire.com LLC on November 1, 2022, enhancing its press release distribution capabilities and creating one of North America's largest platforms in this sector[30]. - The acquisition of Newswire allows the company to offer PRO and a media database platform to existing ACCESSWIRE customers, enhancing business growth opportunities[64]. - The company plans to release a new Media Suite subscriber offering in early 2024, which will include media monitoring and pitching products[71]. - The company anticipates that acquisitions will enhance its market offerings and competitive advantages, facilitating future growth[217]. Financial Performance - Total revenue increased by $9,864,000, or 42%, to $33,378,000 for the year ended December 31, 2023, compared to $23,514,000 in 2022[172]. - Communications revenue rose by $8,109,000, or 50%, to $24,224,000, representing 73% of total revenue in 2023, up from 69% in 2022[173]. - Compliance revenue increased by $1,755,000, or 24%, to $9,154,000, driven by significant transactions in print and proxy fulfillment services[174]. - Net income for the year ended December 31, 2023, was $766,000, a decrease from $1,934,000 in 2022[164]. - Non-GAAP net income for 2023 was $4,889,000, or $1.28 per diluted share, up from $3,548,000, or $0.95 per diluted share in 2022[209]. Revenue Model and Strategy - The company aims to transition to a subscription-based revenue model, which is expected to provide more consistent and predictable revenue patterns[58]. - The transition to a platform subscription model is viewed as key for long-term sustainable growth, with a focus on expanding Communications products and evaluating strategic acquisitions[213][214]. - Subscription and support revenue is recognized ratably over the term of the contract, which may delay the reflection of downturns or upturns in sales in operating results[110]. Customer Engagement and Market Position - The Media Suite, a new subscription add-on, includes Media Database, Media Pitching, and Media Monitoring, aimed at improving customer engagement and brand visibility[36]. - The company is focused on expanding its customer base by targeting the entire C-suite of organizations to drive subscription revenues[59]. - The company worked with 11,924 customers in 2023, up from 8,218 in 2022, primarily due to the increase in Newswire customers[77]. Operational Challenges - The company faces intense competition, with competitors having greater financial and technical resources, which may impact its ability to respond to market demands[97]. - The company has experienced challenges in retaining key employees, which could disrupt business operations and affect growth[103]. - The company must adapt to rapid changes in technology and customer requirements to remain competitive, necessitating substantial investments in sales and marketing[109]. Compliance and Regulatory Environment - The company is positioned to benefit from increased regulatory requirements in the communications industry, which may drive demand for its solutions[72]. - The company is subject to complex sales and income tax regulations, which may lead to significant judgment and potential discrepancies in tax provisions[115]. - The company has experienced significant challenges due to evolving regulatory frameworks for privacy and data protection, which may require costly compliance measures[117]. Cybersecurity and Risk Management - The company has implemented a layered cybersecurity strategy, including regular assessments and employee training, to manage material risks from cybersecurity threats[141]. - Cyber incidents have not materially affected the company’s business strategy or financial condition, indicating resilience against such threats[145]. - The Board of Directors is actively involved in overseeing cybersecurity risks, receiving regular reports from the CTO[147]. Investment and Future Outlook - The company anticipates that additional investments in sales personnel, infrastructure, and research and development will be required to support future growth[105]. - The company plans to continue investing in product sets, platforms, and intellectual property development through internal development and acquisitions[217]. - Market factors such as military conflicts and global inflation have created economic uncertainty, but demand for the company's services remains stable[212].

Revenue Performance - Q4 2023 revenue was $7.5 million, a 6% increase from $7.1 million in Q4 2022[5] - Full year 2023 total revenue reached $33.38 million, a 42% increase from $23.51 million in 2022[4] - Communications revenue accounted for 73% of total revenue in 2023, up from 69% in 2022, driven by the acquisition of Newswire[4] - Total revenues for the year ended December 31, 2023, increased to $33,378,000, up 42.0% from $23,514,000 in 2022[28] Profitability Metrics - Adjusted EBITDA for Q4 2023 was $1.065 million, or 14% of revenue, compared to $1.015 million, or 14% of revenue in Q4 2022[12] - Full year 2023 EBITDA was $5.38 million, or 16% of revenue, compared to $3.70 million, also 16% of revenue in 2022[11] - Non-GAAP net income for 2023 was $4.89 million, or $1.28 per diluted share, compared to $3.55 million, or $0.95 per diluted share in 2022[16] - Gross profit for the three months ended December 31, 2023, was $5,572,000, representing a 5.9% increase from $5,263,000 in the same period of 2022[28] Net Loss and Cash Flow - Net loss for Q4 2023 was $726,000, or $(0.19) per diluted share, compared to a net loss of $109,000, or $(0.03) per diluted share in Q4 2022[5] - Operating cash flows for Q4 2023 were $770,000, down from $994,000 in Q4 2022[5] - For the three months ended December 31, 2023, net cash provided by operating activities was $770,000, a decrease of 22.6% from $994,000 in the same period of 2022[18] - Free cash flow for the year ended December 31, 2023, was $2,557,000, down 35.3% from $3,953,000 in 2022[18] - Adjusted free cash flow for the three months ended December 31, 2023, was $687,000, a decline of 65.6% compared to $1,999,000 in the same period of 2022[18] Customer Metrics - The number of subscriptions increased to 1,053 in Q4 2023 from 1,002 in Q4 2022[11] - The company had 11,924 active customers as of December 31, 2023, compared to 8,218 at the end of 2022[11] Balance Sheet and Liabilities - Cash and cash equivalents as of December 31, 2023, were $5,714,000, an increase of 18.2% from $4,832,000 in 2022[26] - Total current liabilities decreased significantly to $12,650,000 from $31,191,000 in 2022, a reduction of 59.5%[26] Acquisition and Integration Costs - The company incurred $373,000 in cash payments for acquisition and/or integration items for the year ended December 31, 2023[18] - The company expects to continue to award stock in exchange for services, with stock-based compensation being subject to change due to one-time or non-recurring projects[19] - The company issued a secured promissory note in the acquisition of Newswire valued at $22,000 million in 2022[32] - Shares issued in the acquisition of Newswire amounted to $3,892 million[32] Other Financial Metrics - Net income for 2023 decreased to $766 million from $1,934 million in 2022, representing a decline of approximately 60.4%[31] - Bad debt expense increased to $743 million in 2023, up from $406 million in 2022, indicating a rise of 83.0%[31] - Net cash provided by operating activities decreased to $3,060 million in 2023 from $4,019 million in 2022, a decline of about 23.9%[31] - Net cash used in investing activities significantly decreased to $153 million in 2023 from $18,029 million in 2022, reflecting a reduction of approximately 99.2%[31] - Net cash used in financing activities was $2,081 million in 2023, compared to $4,909 million in 2022, a decrease of about 57.6%[31] - Cash paid for income taxes increased to $1,314 million in 2023 from $954 million in 2022, an increase of approximately 37.8%[31] - Cash paid for interest in 2023 was $1,394 million, with no corresponding figure reported for 2022[31] - The company ended 2023 with cash of $5,714 million, up from $4,832 million at the end of 2022, an increase of about 18.3%[31]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _____________ to _____________ ISSUER DIRECT CORPORATION (Exact name of registrant as specified in its charter) (State or Other Jurisdiction (Commission (I.R.S. Em ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ISSUER DIRECT CORPORATION (Exact name of registrant as specified in its charter) (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) Delaware 1-10185 26-1331503 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXC ...

Issuer Direct Corporation (NYSE:ISDR) Q1 2023 Earnings Conference Call May 11, 2023 4:30 PM ET Company Participants Brian Balbirnie - Founder and Chief Executive Officer Tim Pitoniak - Chief Financial Officer Conference Call Participants Mike Grondahl - Northland Securities Walter Ramsley - R-Squared Operator Ladies and gentlemen, thank you for standing by and welcome to the Issuer Direct Corporation First Quarter 2023 Earnings Conference Call. Today's call will be conducted by the Company's Founder and Ch ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————— FORM 10-Q ——————— ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _____________ to _____________ ISSUER DIRECT CORPORATION (Exact name of registrant as specified in its charter) Delaware 1-10185 26-1331503 (State or O ...

Issuer Direct Corporation (NYSE:ISDR) Q4 2022 Earnings Conference Call March 2, 2023 4:30 PM ET Company Participants Brian Balbirnie - Founder and Chief Executive Officer Tim Pitoniak - Chief Financial Officer Conference Call Participants Mike Grondahl - Northland Securities Brock Erwin - CleverInvesting Walter Ramsley - Walrus Partners Operator Greetings. Thank you for standing by and welcome to the Issuer Direct Corporation Fourth Quarter and Year Ended 2022 Earnings Conference Call. Today’s call will be ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————— FORM 10-K ——————— ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Year Ended: December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ___________to ___________ ——————— ISSUER DIRECT CORPORATION (Name of small business issuer in its charter) ——————— (State or Other Jurisdiction of Incorporation) (Commission ...

Issuer Direct Corporation (NYSE:ISDR) Q3 2022 Earnings Conference Call November 3, 2022 4:30 PM ET Company Participants Brian Balbirnie - Founder, President and CEO Tim Pitoniak - CFO Conference Call Participants Mike Grondahl - Northland Securities Luke Horton - Northland Securities Operator Thank you for standing by, and welcome to the Issuer Direct Corporation Third Quarter 2022 Earnings Conference Call. Today's call will be conducted by the company's Founder and Chief Executive Officer, Brian Balbirnie; ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————— FORM 10-Q ——————— ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _____________ to _____________ ISSUER DIRECT CORPORATION (Exact name of registrant as specified in its charter) ——————— (State or Other Jurisdictio ...