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Issuer Direct Reports Second Quarter 2024 Results
RALEIGH, NC / ACCESSWIRE / August 8, 2024 / Issuer Direct Corporation (NYSE American:ISDR), a leading communications company, announced its operating results for the three and six months ended June 30, 2024.
The company reported a 10% sequential increase in total revenues to $7.7 million for Q2 2024, despite a 20% drop year-over-year. Communications business revenue increased by 9% from Q1 2024 and remained flat compared to Q2 2023. The company also reduced costs by approximately $400,000 per quarter.
The news distribution business saw a 15% rise in volumes from core customers, driven by both new and existing client activities. Total revenue for the first half of 2024 was $14.6 million, a 20% decrease from the previous year. Gross margin for Q2 2024 stood at 77%, slightly up from 76% in Q2 2023.
Operating income for Q2 2024 was $334,000, down from $1.7 million in Q2 2023. Net income on a GAAP basis was $7,000, or $0.00 per diluted share, compared to $1.4 million, or $0.36 per diluted share, in Q2 2023. EBITDA for Q2 2024 amounted to $1.1 million, compared to $2.8 million in the previous year.
R. E.
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