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Jun 30, 2023
CoreCard Q2 2023 Earnings Report
CoreCard reported Q2 2023 results with total revenue in-line with expectations and a 25%+ increase in Processing and Maintenance Revenue Year-over-Year, achieving a New License Tier.
Key Takeaways
CoreCard Corporation reported a total revenue of $15.7 million for Q2 2023, aligning with expectations. The company experienced a 26% growth in processing and maintenance revenue, which was partially offset by declines in professional services and third-party revenues. A new license tier was achieved, contributing $1.8 million in license revenue.
Total revenue for Q2 2023 was $15.7 million, compared to $15.2 million in the same period in 2022.
Income from operations for Q2 was $2.7 million, down from $3.5 million in the prior year quarter.
Net income for the quarter was $1.9 million, compared to $2.9 million in the same quarter last year.
Earnings per diluted share were $0.22 for Q2, compared to $0.33 in the prior year quarter.
Revenue by Segment
Forward Guidance
CoreCard expects approximately 5% services revenue growth and continues to expect total license revenue in the range of $3 million to $7 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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