Revenue Performance - Total revenue for Q4 2024 was $14.8 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 $1.42 million, while professional services revenue was $6.21 million, and processing and maintenance revenue was $6.12 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 $0.5 million in Q4 2023, with full year net income at $5.4 million, up from $3.4 million[4] - Earnings per diluted share for Q4 2024 was $0.24, compared to $0.06 in Q4 2023, while full year earnings per diluted share increased to $0.67 from $0.40[4] - GAAP net income for Q4 2024 was $1,926,000, compared to $486,000 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 $4,507,000 in 2023, reflecting a year-over-year growth of 42.5%[23] - Adjusted Diluted EPS increased to $0.28 in Q4 2024 from $0.06 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 $1.6 million in Q4 2023, with full year adjusted EBITDA at $11.4 million compared to $11.7 million in the prior year[6] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $11,413,000, slightly down from $11,717,000 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 $44.5 million in 2023[16] - Total stockholders' equity as of December 31, 2024, was $51.7 million, down from $52.7 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 $150,000 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 $1,102,000 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 $1,579,000 in 2023, indicating improved investment performance[23] Future Outlook - For Q1 2025, the company expects total revenue between $14.4 million and $15.0 million, and earnings per share between $0.15 and $0.19[2]
CoreCard(CCRD) - 2024 Q4 - Annual Results