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MIND C.T.I.(MNDO) - 2023 Q4 - Annual Report
MNDOMIND C.T.I.(MNDO)2023-11-08 11:04

Financial Performance - Q3 2023 revenues were 5.3million,unchangedfromQ32022[1]−OperatingincomeforQ32023was5.3 million, unchanged from Q3 2022[1] - Operating income for Q3 2023 was 1.2 million, down from 1.4millioninQ32022[1]−NetincomeforQ32023was1.4 million in Q3 2022[1] - Net income for Q3 2023 was 1.3 million, or 0.06pershare,consistentwithQ32022[1]−Forthefirstninemonthsof2023,revenuestotaled0.06 per share, consistent with Q3 2022[1] - For the first nine months of 2023, revenues totaled 16.0 million, compared to 16.2millioninthesameperiodof2022[2]−NetincomeforthethreemonthsendedSeptember30,2023,was16.2 million in the same period of 2022[2] - Net income for the three months ended September 30, 2023, was 1,250 thousand, a decrease from 1,290thousandinthesameperiodlastyear[11]CashPosition−CashpositionasofSeptember30,2023,was1,290 thousand in the same period last year[11] Cash Position - Cash position as of September 30, 2023, was 15.9 million[2] - Cash flow from operating activities in the first nine months of 2023 was 3.4million,upfrom3.4 million, up from 3.1 million in the same period of 2022[2] - Net cash provided by operating activities for the nine months ended September 30, 2023, was 3,389thousand,comparedto3,389 thousand, compared to 3,119 thousand for the same period in 2022[11] - The company reported a decrease in cash and cash equivalents of 3,549thousandforthethreemonthsendedSeptember30,2023,comparedtoadecreaseof3,549 thousand for the three months ended September 30, 2023, compared to a decrease of 1,260 thousand in the same period last year[11] - The balance of cash and cash equivalents at the end of the period was 2,576thousand,downfrom2,576 thousand, down from 3,658 thousand at the end of the previous period[11] Assets and Equity - Total assets as of September 30, 2023, were 30.4million,downfrom30.4 million, down from 31.7 million at the end of 2022[9] - Total shareholders' equity was 22.9millionasofSeptember30,2023,comparedto22.9 million as of September 30, 2023, compared to 23.8 million at the end of 2022[9] Revenue Sources - Customer care and billing software accounted for 2.9million,or552.9 million, or 55% of total Q3 2023 revenues[4] - Europe represented 49% of total revenues in Q3 2023, with Germany contributing 35% from the messaging segment[3] Expenses - Depreciation and amortization expenses for the nine months ended September 30, 2023, were 147 thousand, an increase from 132thousandinthesameperiodlastyear[11]−Employeesshare−basedcompensationexpensesforthethreemonthsendedSeptember30,2023,were132 thousand in the same period last year[11] - Employees share-based compensation expenses for the three months ended September 30, 2023, were 72 thousand, compared to 74thousandinthesameperiodlastyear[11]CashFlows−Cashflowsfrominvestingactivitiesshowedanetoutflowof74 thousand in the same period last year[11] Cash Flows - Cash flows from investing activities showed a net outflow of 4,504 thousand for the three months ended September 30, 2023, compared to an outflow of 2,221thousandinthesameperiodlastyear[11]−Thecompanyexperiencedadecreaseinaccountsreceivableof2,221 thousand in the same period last year[11] - The company experienced a decrease in accounts receivable of 2 thousand for the three months ended September 30, 2023, compared to an increase of 241thousandinthesameperiodlastyear[11]−Thecompanyreportedarealizedgainonthesaleofmarketablesecuritiesof241 thousand in the same period last year[11] - The company reported a realized gain on the sale of marketable securities of 9 thousand for the nine months ended September 30, 2023[11] - The company paid dividends totaling $4,839 thousand in the nine months ended September 30, 2023[11]