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Mar 31, 2022
CoreCard Q1 2022 Earnings Report
CoreCard's financial performance demonstrated significant growth, driven by increased license revenue and strategic investments in platform capabilities.
Key Takeaways
CoreCard Corporation reported a strong first quarter in 2022, with total net revenue reaching $24.3 million, exceeding expectations. This growth was propelled by a substantial increase in license revenue, along with notable growth in professional services and processing and maintenance revenue. The company is raising its topline growth expectations to a range of 25% to 30% for fiscal 2022.
Total revenues increased to $24.3 million, compared to $8.9 million in the same period last year.
License revenue reached $12.5 million.
Income from operations was $11.8 million, a significant increase from $1.5 million in the prior year quarter.
Net income rose to $8.7 million, compared to $1.0 million in the comparable prior year quarter.
CoreCard
CoreCard
CoreCard Revenue by Segment
Revenue by Segment
License Revenue
CapyFin.comProfessional Services Revenue
CapyFin.comProcessing & Maintenance Revenue
CapyFin.com Forward Guidance
CoreCard anticipates continued growth and is raising its topline growth expectations for fiscal year 2022.
Positive Outlook
- Topline growth expectations raised to 25% to 30% for fiscal 2022.
- Continued investment in platform and processing capabilities.
- Onboarding new customers through the partnership with Deserve.
- A new customer went live with Deserve on the CoreCard platform in Q1.
- Extended buyback authorization for an additional $20 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income