CoreCard reports Q3 adjusted EPS 9c vs 16c last year

Reports Q3 revenue $13.399M vs $14.450M last year. “Overall revenue of $13.4 million in the third quarter was in-line with our expectations, reflecting continued growth in processing and maintenance revenue of 10%, which was offset by lower professional services revenue, primarily driven by our largest customer. 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,” said Leland Strange, CEO of CoreCard Corporation. “We expect the lower level of professional services revenue to continue in the fourth quarter and into 2024. As a result, we now expect full-year services revenue to be approximately flat for 2023 as compared to 2022. We anticipate additional license revenue during the first half of 2024.”