Loading...
•
Jun 30, 2021
CoreCard Q2 2021 Earnings Report
Reported strong second quarter of fiscal year 2021, driven by CoreCard's flexible platform, resulting in substantial top-line growth and meaningful growth in income from operations and net income.
Key Takeaways
Intelligent Systems reported a strong second quarter with a 66% increase in total revenue to $13.4 million. This growth led to significant increases in income from operations and net income, driven by CoreCard's platform.
Total revenue increased by 66% year-over-year to $13.4 million.
Income from operations increased compared to the prior year quarter.
Net income increased compared to the prior year quarter.
Earnings per diluted share increased to $0.32 compared to $0.24 in the prior year quarter.
CoreCard
CoreCard
Forward Guidance
The company expects continued license revenue in the second half of 2021, with potential delays pushing some revenue into 2022. They anticipate top-line growth of 20% to 25% for the year.
Positive Outlook
- Expect license revenue in the second half of 2021.
- Investments in infrastructure are already showing results.
- On track to achieve top-line growth of 20% to 25% for the year.
- Partnerships validate CoreCard platform and strategic investments.
- Confident in strategy and ability to generate long-term value for shareholders.
Challenges Ahead
- A portion of license revenue is expected to be pushed into 2022 due to routine project delays with key clients.
- COVID-19 trajectory in India remains fluid.
- Potential delays in product development.
- Competitive pressures.
- Changes in customer requirements or financial condition.