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Mar 31, 2024
CoreCard Q1 2024 Earnings Report
CoreCard's revenue aligned with expectations, demonstrating year-over-year growth in processing and maintenance, offset by a decrease in professional services revenue.
Key Takeaways
CoreCard reported first quarter revenue of $13.1 million, aligning with expectations. The company saw growth in processing and maintenance revenue, which was offset by lower professional services revenue. Net income was $0.4 million, with earnings per diluted share at $0.05.
Total revenue for the quarter was $13.1 million, compared to $14.8 million in the same period last year.
Income from operations was $0.5 million, down from $1.8 million in the prior year quarter.
Net income decreased to $0.4 million, compared to $1.3 million in the comparable prior year quarter.
Earnings per diluted share was $0.05, a decrease from $0.15 in the same quarter last year.