Tue, May 14, 4:44 PM (254 days ago)
CreditRiskMonitor.com, Inc.'s Form 10-Q for the quarter ending March 31, 2024, shows a 5% increase in operating revenues to $4.81 million compared to the same period in 2023. However, operating expenses also rose, leading to a slight operating loss of $35.8 thousand. Net income decreased to $127.4 thousand from $275.3 thousand in Q1 2023. Cash and cash equivalents increased by $411 thousand to $11.4 million, driven by $608.8 thousand net cash from operating activities. The company's current liabilities include $11.1 million in unexpired subscription revenue. Management highlights ongoing investments in product development and sales expansion, aiming for sustainable growth despite potential economic uncertainties. The company remains debt-free, with no off-balance sheet arrangements, and anticipates continued revenue growth and strategic investments in the coming quarters.