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CoreCard(CCRD) - 2024 Q4 - Annual Results
CCRDCoreCard(CCRD)2025-02-20 12:30

Revenue Performance - Total revenue for Q4 2024 was 14.8million,a2214.8 million, a 22% increase compared to Q4 2023, while full year revenue was 57.4 million, up 2% from 2023[3] - Processing and maintenance revenue grew by 11% year-over-year in Q4 2024, and full year growth was 7% compared to 2023[2] - License revenue for Q4 2024 was 1.42million,whileprofessionalservicesrevenuewas1.42 million, while professional services revenue was 6.21 million, and processing and maintenance revenue was 6.12million[3]−Thecompanyanticipatesfullyear2025revenuegrowthof30−406.12 million[3] - The company anticipates full year 2025 revenue growth of 30-40% excluding its largest customer[2] Net Income and Earnings - Net income for Q4 2024 was 1.9 million, compared to 0.5millioninQ42023,withfullyearnetincomeat0.5 million in Q4 2023, with full year net income at 5.4 million, up from 3.4million[4]−EarningsperdilutedshareforQ42024was3.4 million[4] - Earnings per diluted share for Q4 2024 was 0.24, compared to 0.06inQ42023,whilefullyearearningsperdilutedshareincreasedto0.06 in Q4 2023, while full year earnings per diluted share increased to 0.67 from 0.40[4]−GAAPnetincomeforQ42024was0.40[4] - GAAP net income for Q4 2024 was 1,926,000, compared to 486,000inQ42023,representingasignificantincrease[23]−AdjustednetincomeforthetwelvemonthsendedDecember31,2024,was486,000 in Q4 2023, representing a significant increase[23] - Adjusted net income for the twelve months ended December 31, 2024, was 6,429,000, up from 4,507,000in2023,reflectingayear−over−yeargrowthof42.54,507,000 in 2023, reflecting a year-over-year growth of 42.5%[23] - Adjusted Diluted EPS increased to 0.28 in Q4 2024 from 0.06inQ42023,markingasubstantialriseof366.70.06 in Q4 2023, marking a substantial rise of 366.7%[23] EBITDA and Operational Efficiency - Adjusted EBITDA for Q4 2024 was 3.3 million, up from 1.6millioninQ42023,withfullyearadjustedEBITDAat1.6 million in Q4 2023, with full year adjusted EBITDA at 11.4 million compared to 11.7millionintheprioryear[6]−AdjustedEBITDAforthetwelvemonthsendedDecember31,2024,was11.7 million in the prior year[6] - Adjusted EBITDA for the twelve months ended December 31, 2024, was 11,413,000, slightly down from 11,717,000in2023,indicatingadecreaseof2.611,717,000 in 2023, indicating a decrease of 2.6%[23] - Adjusted EBITDA Margin improved to 22.4% in Q4 2024 from 13.5% in Q4 2023, showcasing enhanced operational efficiency[23] Shareholder Equity and Assets - Total current assets decreased to 40.2 million as of December 31, 2024, from 44.5millionin2023[16]−Totalstockholders′equityasofDecember31,2024,was44.5 million in 2023[16] - Total stockholders' equity as of December 31, 2024, was 51.7 million, down from 52.7millionin2023[17]−Weighted−averagesharesoutstandingdecreasedto8,036,000inQ42024from8,389,000inQ42023,indicatingareductioninsharedilution[23]CompensationandTaxExpenses−Share−basedcompensationforthetwelvemonthsendedDecember31,2024,was52.7 million in 2023[17] - Weighted-average shares outstanding decreased to 8,036,000 in Q4 2024 from 8,389,000 in Q4 2023, indicating a reduction in share dilution[23] Compensation and Tax Expenses - Share-based compensation for the twelve months ended December 31, 2024, was 1,308,000, compared to 150,000in2023,reflectingasignificantincreaseinequitycompensation[23]−IncometaxexpenseforthetwelvemonthsendedDecember31,2024,was150,000 in 2023, reflecting a significant increase in equity compensation[23] - Income tax expense for the twelve months ended December 31, 2024, was 1,456,000, compared to 1,102,000in2023,representinganincreaseof32.21,102,000 in 2023, representing an increase of 32.2%[23] Investment Performance - Investment loss for the twelve months ended December 31, 2024, was 427,000, down from 1,579,000in2023,indicatingimprovedinvestmentperformance[23]FutureOutlook−ForQ12025,thecompanyexpectstotalrevenuebetween1,579,000 in 2023, indicating improved investment performance[23] Future Outlook - For Q1 2025, the company expects total revenue between 14.4 million and 15.0million,andearningspersharebetween15.0 million, and earnings per share between 0.15 and $0.19[2]