CoreCard Corporation's Fiscal Highlights and Future Outlook

CoreCard Corporation's Fiscal Performance Overview

CoreCard Corporation (NYSE: CCRD), renowned for its innovative credit technology solutions, has released its financial results for the fourth quarter and full year. The Company has demonstrated resilience and growth, reflecting its strong performance in the competitive financial technology sector. The significant revenue increase has placed CoreCard in a favorable position for the upcoming fiscal year.

Impressive Revenue Growth

In the fourth quarter of 2024, CoreCard's total revenue amounted to approximately $14.8 million, a remarkable 22% increase from the previous year. The strong revenue performance was largely driven by unforeseen license revenue during the quarter, alongside continued year-over-year growth in services revenue, which saw an 11% increase. The Company reported that its overall revenue for 2024 reached $57.4 million, representing a growth of 2% compared to the prior year.

Quarterly Financial Highlights

CoreCard's impressive performance this quarter includes various key financial metrics that illustrate its operational success:

• Income from operations: $2.1 million, significantly higher than $0.4 million in the prior year.
• Net income: Reached $1.9 million compared to $0.5 million for the previous year's quarter.
• Earnings per diluted share: In the fourth quarter, earnings increased to $0.24 from $0.06 a year ago.
• Adjusted EBITDA: Grew to $3.3 million, reflecting a substantial improvement over $1.6 million in the comparable prior year quarter.

Looking Forward: Guidance and Expectations

As CoreCard progresses into the first quarter of 2025, the Company is forecasting a total revenue range between $14.4 million and $15.0 million, with expected earnings per share ranging from $0.15 to $0.19. Moreover, the fiscal year 2025 outlook remains optimistic, with projections of total revenue between $60 million and $64 million and earnings per share expected between $0.88 and $0.94. Notably, the Company anticipates a revenue growth rate of 30-40% for full-year 2025, excluding contributions from its largest client.

Investment in Future Growth

The leadership team emphasized the importance of continued investment in its platform and processing capabilities to seize the burgeoning demand for next-generation card management systems. The Company's CEO, Leland Strange, highlighted CoreCard's prime position to cater to complex issuers amid increasing market opportunities.

CoreCard's Commitment to the Future

CoreCard Corporation has firmly established its reputation in the payments industry by providing clients with innovative, real-time solutions that enhance operational efficiency. With a focus on sustainable growth and advanced technological adaptation, the Company reassures investors of its commitment to maintaining a leadership role in the evolving credit technology sector.

Call to Action for Investors

CoreCard will host an investor conference call to further discuss these results, personally inviting interested investors to participate. The Company also plans to release its comprehensive Form 10-K report, providing detailed insights into its financial performance and strategic direction.

Frequently Asked Questions

1. What were the total revenues for CoreCard Corporation in 2024?

The total revenues for CoreCard Corporation in 2024 reached approximately $57.4 million.

2. How much did the net income increase for the fourth quarter of 2024?

Net income for the fourth quarter of 2024 increased to $1.9 million, up from $0.5 million in the same quarter of the previous year.

3. What is the projected earnings per share for CoreCard in 2025?

CoreCard is projecting earnings per share for 2025 to range between $0.88 and $0.94.

4. How much revenue growth does CoreCard expect in 2025?

CoreCard anticipates a revenue growth rate of 30-40% for the full year of 2025, excluding its largest customer.

5. What innovative solutions does CoreCard provide?

CoreCard offers cutting-edge card management solutions that streamline operations for financial institutions and card issuers, focused on enhancing efficiency and customer experience.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

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