iCoreConnect Inc.
iCoreConnect Inc. (ICCT) Financial Performance & Income Statement Overview
Analyze iCoreConnect Inc. (ICCT) financial statements (income, balance sheet, and cash flow) across both yearly and quarterly periods.
iCoreConnect Inc. (ICCT) Income Statement & Financial Overview
Review iCoreConnect Inc. ICCT income statement with detailed quarterly and annual figures.
| Metric | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|
| Revenue | $2.15M | $2.79M | $3.09M | $2.72M |
| Cost of Revenue | $549782.00 | $826990.00 | $606617.00 | $1.25M |
| Gross Profit | $1.60M | $1.96M | $2.48M | $1.48M |
| Gross Profit Ratio | $0.74 | $0.70 | $0.80 | $0.54 |
| R&D Expenses | $0.00 | $0.00 | $0.00 | $0.00 |
| SG&A Expenses | $3.69M | $3.35M | $4.41M | $4.52M |
| Operating Expenses | $4.37M | $4.16M | $9.97M | $5.25M |
| Total Costs & Expenses | $4.92M | $4.99M | $10.58M | $5.77M |
| Interest Income | $0.00 | $0.00 | $0.00 | $0.00 |
| Interest Expense | -$599261.00 | $855860.00 | $944934.00 | $1.53M |
| Depreciation & Amortization | $681633.00 | $806509.00 | $781890.00 | $732553.00 |
| EBITDA | -$8.39M | -$4.33M | -$9.17M | -$2.41M |
| EBITDA Ratio | -$3.91 | -$1.55 | -$2.97 | -$0.88 |
| Operating Income | -$2.78M | -$2.20M | -$7.49M | -$3.04M |
| Operating Income Ratio | -$1.29 | -$0.79 | -$2.42 | -$1.12 |
| Other Income/Expenses (Net) | -$6.77M | -$3.79M | -$3.41M | -$1.63M |
| Income Before Tax | -$9.55M | -$5.99M | -$10.90M | -$4.67M |
| Income Before Tax Ratio | -$4.45 | -$2.15 | -$3.53 | -$1.71 |
| Income Tax Expense | $0.00 | $0.00 | $0.00 | $54000.00 |
| Net Income | -$9.55M | -$5.99M | -$10.90M | -$4.72M |
| Net Income Ratio | -$4.45 | -$2.15 | -$3.53 | -$1.73 |
| EPS | -$26.14 | -$16.40 | -$31.65 | -$13.95 |
| Diluted EPS | -$26.14 | -$16.40 | -$31.65 | -$13.95 |
| Weighted Avg Shares Outstanding | $365251.00 | $365251.00 | $344240.00 | $338486.00 |
| Weighted Avg Shares Outstanding (Diluted) | $365251.00 | $365251.00 | $344240.00 | $338486.00 |
The company's financials show resilient growth, with revenue advancing from $2.72M in Q1 2024 to $2.15M in Q4 2024. Gross profit remained healthy with margins at 74% in Q4 2024 compared to 54% in Q1 2024. Operating income hit -$2.78M last quarter, sustaining a consistent -129% margin. Changes in R&D and SG&A spending did not hinder EBITDA, which stood at -$8.39M. Net income dropped to -$9.55M, while earnings per share reached -$26.14. Strong cost management and operational efficiency kept profitability intact, underlining the company's stable and competitive market performance.
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