Loading...
•
Mar 31, 2021
CoreCard Q1 2021 Earnings Report
Intelligent Systems reported first quarter results, demonstrating adaptability and resilience despite COVID-19 challenges, with revenue increase driven by professional services and processing and maintenance.
Key Takeaways
Intelligent Systems reported a 13% increase in revenue compared to the first quarter of 2020, driven by professional services and processing and maintenance revenue. Income from operations and net income declined due to the costs of opening a new office in Dubai and developing a new platform. The company repurchased $2.7 million of shares and extended the buyback authorization for an additional $10 million.
First-quarter results were in line with expectations, demonstrating the adaptability of the business model.
Revenue increased by 13% compared to the first quarter of 2020, driven by professional services and processing and maintenance revenue.
The company expects licensing revenue in the second quarter and more substantially in the second half of fiscal 2021.
Intelligent Systems repurchased an additional $2.7 million of shares and extended the buyback authorization for an additional $10 million.
CoreCard
CoreCard
Forward Guidance
Intelligent Systems is on track to achieve top-line growth of 20% to 25% for the year.