Issuer Direct Corp. Q2 2024: Revenue $3.83M, Net Income $72K

TL;DR

ISDR Q2 2024: Revenue $3.83M, Net Income $72K. Steady performance.

AI Summary

Issuer Direct Corp. reported its Q2 2024 results, with total revenue for the six months ended June 30, 2024, reaching $3.83 million. The company's net income for the same period was $72,250. This filing covers the period ending June 30, 2024.

Why It Matters

This 10-Q filing provides investors with the financial performance of Issuer Direct Corp. for the second quarter of 2024, including key revenue and income figures.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediately apparent significant negative events or disclosures.

Key Numbers

• $3.83M — Revenue (Six months ended June 30, 2024)
• $72.25K — Net Income (Six months ended June 30, 2024)
• $3.81M — Revenue (Three months ended June 30, 2024)
• $3.83M — Revenue (Six months ended June 30, 2023)

Key Players & Entities

• ISSUER DIRECT CORP (company) — Filer
• 0000843006 (company) — Central Index Key
• 8742 (company) — Standard Industrial Classification
• 261331503 (company) — IRS Number
• 20240630 (date) — Period of Report
• 20240808 (date) — Filed as of Date
• $3.83 million (dollar_amount) — Revenue for six months ended June 30, 2024
• $72,250 (dollar_amount) — Net income for six months ended June 30, 2024

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 ISDR NYSE American Indicate by che

Filing Documents

• isdr_10q.htm (10-Q) — 828KB
• isdr_ex311.htm (EX-31.1) — 9KB
• isdr_ex312.htm (EX-31.2) — 9KB
• isdr_ex321.htm (EX-32.1) — 4KB
• isdr_ex322.htm (EX-32.2) — 4KB
• isdr_10qimg4.jpg (GRAPHIC) — 16KB
• isdr_10qimg3.jpg (GRAPHIC) — 3KB
• 0001654954-24-010184.txt ( ) — 3620KB
• isdr-20240630.xsd (EX-101.SCH) — 28KB
• isdr-20240630_lab.xml (EX-101.LAB) — 199KB
• isdr-20240630_cal.xml (EX-101.CAL) — 40KB
• isdr-20240630_pre.xml (EX-101.PRE) — 156KB
• isdr-20240630_def.xml (EX-101.DEF) — 62KB
• isdr_10q_htm.xml (XML) — 465KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. 3 Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 3 Unaudited Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 4 Unaudited Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2024 and 2023 5 Unaudited Consolidated Statement of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 6 Unaudited Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 7 Notes to Unaudited Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosure 32 Item 5. Other Information 32 Item 6. Exhibits 33

Signatures

Signatures 34 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS ISSUER DIRECT CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) June 30, December 31, 2024 2023 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 4,020 $ 5,714 Accounts receivable (net of allowance for doubtful accounts of $ 1,156 and $ 1,119 , respectively 4,686 4,368 Income tax receivable 202 232 Other current assets 1,331 1,190 Total current assets 10,239 11,504 Capitalized software (net of accumulated amortization of $ 3,524 and $ 3,424 , respectively) 856 556 Fixed assets (net of accumulated depreciation of $ 841 and $ 765 , respectively) 435 495 Right-of-use asset – leases 894 1,022 Other long-term assets 344 158 Goodwill 21,927 21,927 Intangible assets (net of accumulated amortization of $ 10,926 and $ 9,562 , respectively) 28,126 29,490 Total assets $ 62,821 $ 65,152 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,077 $ 1,308 Accrued expenses 1,983 1,919 Income taxes payable 23 11 Current portion of long-term debt 4,000 4,000 Deferred revenue 5,476 5,412 Total current liabilities 12,559 12,650 Long-term debt (net of debt discount of $ 78 and $ 87 , respectively) 13,922 15,913 Deferred income tax liability 59 139 Lease liabilities – long-term 840 1,009 Other long-term liabilities — 21 Total liabilities 27,380 29,732 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. — — Common stock $ 0.001 par value, 20,000,000 shares authorized, 3,831,711 and 3,815,212 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. 4 4 Additional paid-in capital 23,731 23,531 Other accumulated comprehensive loss ( 9

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Note 1. Basis of Presentation The unaudited interim consolidated balance sheet as of June 30, 2024 and consolidated statements of operations, comprehensive income, stockholders' equity and cash flows for the three and six-month periods ended June 30, 2024 and 2023 included herein, have been prepared in accordance with the instructions for Form 10-Q under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Article 10 of Regulation S-X under the Exchange Act. In the opinion of management, they include all normal recurring adjustments necessary for a fair presentation of the financial statements. Results of operations reported for the interim periods are not necessarily indicative of results for the entire year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("US GAAP") have been condensed or omitted pursuant to such rules and regulations relating to interim financial statements. The interim financial information should be read in conjunction with the 2023 audited financial statements of Issuer Direct Corporation (the "Company", "We", or "Our") filed on Form 10-K for the year ended December 31, 2023. Note 2. Summary of Significant Accounting Policies The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Significant intercompany accounts and transactions are eliminated in consolidation. Earnings Per Share (EPS) Earnings per share accounting guidance requires that basic net income per common share be computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing the net income for the period by the weighted average number of common and dilutive common equivalent shares outstanding during

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