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CoreCard(CCRD) - 2024 Q3 - Quarterly Results
CCRDCoreCard(CCRD)2024-10-31 11:30

Financial Performance - Total revenue for Q3 2024 was 15.7million,a1715.7 million, a 17% increase compared to 13.4 million in Q3 2023[2][4] - Net income for Q3 2024 was 2.2million,comparedtoanetlossof2.2 million, compared to a net loss of 0.2 million in Q3 2023[5] - Earnings per diluted share for Q3 2024 was 0.27,comparedtoalosspershareof0.27, compared to a loss per share of 0.03 in the same quarter last year[5] - Adjusted EBITDA for Q3 2024 was 3.9million,upfrom3.9 million, up from 1.9 million in Q3 2023[6] - GAAP net income for Q3 2024 was 2,196,000,comparedtoalossof2,196,000, compared to a loss of 222,000 in Q3 2023[21] - Adjusted net income for Q3 2024 increased to 2,402,000,upfrom2,402,000, up from 778,000 in Q3 2023[20] - Total revenue for Q3 2024 was 15,703,000,arisefrom15,703,000, a rise from 13,399,000 in Q3 2023[21] - Adjusted EBITDA for Q3 2024 was 3,908,000,comparedto3,908,000, compared to 1,919,000 in Q3 2023[21] - Adjusted EPS for Q3 2024 was 0.30,upfrom0.30, up from 0.09 in Q3 2023[20] - Adjusted EBITDA margin improved to 24.9% in Q3 2024, compared to 14.3% in Q3 2023[21] - Nine-month GAAP net income for 2024 was 3,522,000,comparedto3,522,000, compared to 2,909,000 in 2023[21] Revenue Breakdown - License revenue was 1.42million,professionalservicesrevenuewas1.42 million, professional services revenue was 7.01 million, and processing and maintenance revenue was 6.07millionforQ32024[4]FutureGuidance−ForQ42024,thecompanyexpectstotalrevenuebetween6.07 million for Q3 2024[4] Future Guidance - For Q4 2024, the company expects total revenue between 13.3 million and 13.7millionandearningspersharebetween13.7 million and earnings per share between 0.07 and 0.09[3]−Forfiscalyear2025,totalrevenueisexpectedtobebetween0.09[3] - For fiscal year 2025, total revenue is expected to be between 60 million and 64million,witharevenuegrowthof30−4064 million, with a revenue growth of 30-40% excluding the largest customer[3] Cash and Assets - Cash and cash equivalents as of September 30, 2024, were 22.5 million, down from 26.9millionattheendof2023[13]−TotalassetsasofSeptember30,2024,were26.9 million at the end of 2023[13] - Total assets as of September 30, 2024, were 62.8 million, compared to 63.8millionattheendof2023[13]−Totalstockholders′equitywas63.8 million at the end of 2023[13] - Total stockholders' equity was 51.7 million as of September 30, 2024, down from 52.7millionattheendof2023[14]OtherFinancialMetrics−Share−basedcompensationincreasedto52.7 million at the end of 2023[14] Other Financial Metrics - Share-based compensation increased to 274,000 in Q3 2024 from 150,000inQ32023[21]−Investmentlossdecreasedto150,000 in Q3 2023[21] - Investment loss decreased to 90,000 in Q3 2024 from 1,015,000inQ32023[21]−IncometaxexpenseforQ32024was1,015,000 in Q3 2023[21] - Income tax expense for Q3 2024 was 732,000, compared to a benefit of $(72,000) in Q3 2023[21]