Financial Highlights:
Revenue Growth: Revenues surged by 48% to
Gross Profit Margin: Improved from 73% to 81%.
Our revenue growth is attributed to the successful integration of recent acquisitions, completed on
Operational Highlights:
Strategic Agreements: The Company executed two enterprise agreements with leading OEM technology solution companies. CareStream is using iCoreConnect's cutting-edge cloud software and encryption with Carestream Dentals long standing Sensei portfolio. The integration will empower users of every Sensei offering -
Fintech: The launch of our Fintech solution iCorePay has been eagerly adopted by our customers resulting in rapid adoption rates. We believe iCorePay will be a significant revenue generator for us with expanding strong margin contributions.
New State Association Endorsements:
Expanded Product Endorsements: The Company expanded its product endorsements in five states including
The value of our state dental association endorsements provides us with a highly effective distribution channel for all our current solutions. We believe as we continue to grow organically and via acquisitions, this valuable distribution channel will allow us to quickly get new and acquired solutions to the market. The sheer number of state associations and the number of solutions endorsed creates a competitive advantage, as it creates a moat around our products and services from the competition as many of our endorsements are multi-year agreements.
CEO
Additional Achievements during the quarter:
Launch of iCoreEnterprise: Along with our new single sign-on solution, this initiative is set to streamline operations for our customers, making it easier to manage multiple solutions on a single platform. Our customers want to be able to grow with minimal friction and disruption to their business without costly installations; iCoreEnterprise fulfills this requirement. Our iCoreEnterprise platform fits nicely with our land and expand strategy allowing our customers to purchase additional solutions from us with minimal effort.
Channel Partner Division: We are poised to extend our market reach through robust channel relationships, leveraging our comprehensive suite of solutions. We have dedicated resources to building this channel as we feel this will bring tremendous growth to us in the coming quarters. We recently launched this division with five large channel partners.
iCoreConnect remains committed to driving growth through strategic initiatives and leveraging its strong market position to deliver increasing value to our stakeholders.
About
Forward-Looking Statements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this release include, without limitation, the ability of iCorePay to be a significant revenue generator and to increase margins, and our ability to leverage our state dental association endorsements to quickly get new and acquired solutions to the market. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including believes, estimates, anticipates, expects, plans, projects, intends, potential, may, could, might, will, should, approximately or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under Item 1A. Risk Factors in the Companys most recently filed Form 10-K filed with the
Investor Contacts:
ir@icoreconnect.com
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