iCoreConnect ( (ICCT) ) just unveiled an announcement.
On April 10, 2025, iCoreConnect, Inc. entered into a Revolving Loan Agreement with an institutional investor, allowing the company to draw up to $2,180,000 at its discretion. This agreement, which bears an 18% annual interest rate, is set to mature one year from the closing date. The company is also expected to pursue a public offering of at least $5,000,000. The agreement includes customary events of default and negative covenants, such as restrictions on repurchasing stock and incurring new debt beyond specified limits.
Spark’s Take on ICCT Stock
According to Spark, TipRanks’ AI Analyst, ICCT is a Underperform.
iCoreConnect’s overall stock score is impacted significantly by the negative financial performance, including high leverage, negative margins, and reliance on external funding. Technical indicators also suggest a bearish trend, further weighing down the score. Valuation metrics do not provide any relief, as the negative P/E ratio highlights ongoing losses. The lack of positive earnings call data or corporate events leaves no immediate prospects for improvement.
To see Spark’s full report on ICCT stock, click here.
More about iCoreConnect
YTD Price Performance: 60.08%
Average Trading Volume: 16,343,701
Technical Sentiment Signal: Strong Buy
Current Market Cap: $7.65M
Learn more about ICCT stock on TipRanks’ Stock Analysis page.