Reports Q2 revenue $15.7M vs $15.2M last year. “CoreCard’s strong performance continued in the second quarter and resulted in total revenue of $15.7 million in-line with our expectations,” said Leland Strange, CEO of CoreCard Corporation. “Our top-line growth in services revenue was driven by 26% growth in processing and maintenance revenue, partially offset by declines in professional services and third party revenues. As a reminder, third party revenues are very low margin. Additionally, we achieved a new license tier which resulted in $1.8 million of license revenue in the second quarter. We continue to invest in our platform and processing capabilities, which are showing encouraging results. CoreCard provides a best-in-class credit platform that is extremely well positioned to capture the growing demand for next-generation card management platforms by large and complex modern card issuers.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CCRD: