CoreCard(CCRD) - 2024 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2024 was $15.7 million, a 17% increase compared to $13.4 million in Q3 2023[2][4] - Net income for Q3 2024 was $2.2 million, compared to a net loss of $0.2 million in Q3 2023[5] - Earnings per diluted share for Q3 2024 was $0.27, compared to a loss per share of $0.03 in the same quarter last year[5] - Adjusted EBITDA for Q3 2024 was $3.9 million, up from $1.9 million in Q3 2023[6] - GAAP net income for Q3 2024 was $2,196,000, compared to a loss of $222,000 in Q3 2023[21] - Adjusted net income for Q3 2024 increased to $2,402,000, up from $778,000 in Q3 2023[20] - Total revenue for Q3 2024 was $15,703,000, a rise from $13,399,000 in Q3 2023[21] - Adjusted EBITDA for Q3 2024 was $3,908,000, compared to $1,919,000 in Q3 2023[21] - Adjusted EPS for Q3 2024 was $0.30, 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, compared to $2,909,000 in 2023[21] Revenue Breakdown - License revenue was $1.42 million, professional services revenue was $7.01 million, and processing and maintenance revenue was $6.07 million for Q3 2024[4] Future Guidance - For Q4 2024, the company expects total revenue between $13.3 million and $13.7 million and earnings per share between $0.07 and $0.09[3] - For fiscal year 2025, total revenue is expected to be between $60 million and $64 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 $26.9 million at the end of 2023[13] - Total assets as of September 30, 2024, were $62.8 million, compared to $63.8 million at the end of 2023[13] - Total stockholders' equity was $51.7 million as of September 30, 2024, down from $52.7 million at the end of 2023[14] Other Financial Metrics - Share-based compensation increased to $274,000 in Q3 2024 from $150,000 in Q3 2023[21] - Investment loss decreased to $90,000 in Q3 2024 from $1,015,000 in Q3 2023[21] - Income tax expense for Q3 2024 was $732,000, compared to a benefit of $(72,000) in Q3 2023[21]