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Sep 30, 2024
CoreCard Q3 2024 Earnings Report
Reported a 17% increase in total revenue year-over-year, driven by license revenue, processing and maintenance revenue, and professional services revenue.
Key Takeaways
CoreCard Corporation reported a strong third quarter with a 17% increase in total revenue, reaching $15.7 million. The company's net income improved significantly to $2.2 million, and earnings per share reached $0.27. The results reflect growth in processing and maintenance revenue, higher professional services revenue, and license revenue.
Total revenue increased by 17% year-over-year to $15.7 million.
Income from operations was $2.8 million, compared to $0.4 million in the prior year quarter.
Net income was $2.2 million, a significant improvement from a net loss of $0.2 million in the prior year quarter.
Earnings per diluted share was $0.27, compared to a loss per share of $0.03 in the prior year quarter.
CoreCard
CoreCard
Forward Guidance
For the fourth quarter of 2024, CoreCard expects total revenue between $13.3 million and $13.7 million and earnings per share between $0.07 and $0.09. For fiscal year 2025, the company anticipates total revenue between $60 million and $64 million and earnings per share between $0.88 and $0.94. Excluding the largest customer, CoreCard expects full-year 2025 revenue growth to be 30-40%.
Positive Outlook
- Expects total revenue between $13.3 and $13.7 million for Q4 2024.
- Anticipates earnings per share between $0.07 and $0.09 for Q4 2024.
- Forecasts total revenue between $60 million and $64 million for fiscal year 2025.
- Projects earnings per share between $0.88 and $0.94 for fiscal year 2025.
- Expects full-year 2025 revenue growth, excluding the largest customer, to be 30-40%.