ICCT - iCoreConnect GAAP EPS of -$0.54 revenue of $2M

2023-11-21 06:21:55 ET

• iCoreConnect press release ( NASDAQ: ICCT ): Q3 GAAP EPS of -$0.54.
• Revenue of $2M (+5.3% Y/Y).
• Subscription revenue of $1.8 million, an increase of 10% compared to the prior year period.
• The increase in revenue was driven by an increase in subscriptions sales in the core SaaS business.
• Gross Profit Margin of 74.2%, an increase of 2% compared to the prior year period.
• Operating loss of $2.4 million, compared to a loss of $1.1 million in the third quarter of 2022, primarily due to an increase in payroll expenses, other general and administrative expenses, and one-time expenses related to the completion of the merger.Total Subscribers of approximately 33,000 as of September 30, 2023, an increase of 11,000, or approximately 50%, compared to September 30, 2022.

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