Issuer Direct Corp. Q3 2024: Revenue $38.34M, Net Income $3.83M

TL;DR

**Issuer Direct Corp. Q3 2024: Revenue $38.34M, Net Income $3.83M, Assets $72.75M, Liabilities $11.5M.**

AI Summary

Issuer Direct Corp. reported its Q3 2024 results, with total revenue for the nine months ending September 30, 2024, reaching $38.34 million. The company's net income for the same period was $3.83 million. As of September 30, 2024, Issuer Direct Corp. had total assets of $72.75 million and total liabilities of $11.5 million.

Why It Matters

This filing provides insight into Issuer Direct Corp.'s financial performance and stability, which can influence investor decisions and market perception.

Risk Assessment

Risk Level: low — The filing presents standard financial reporting for a public company with no immediate red flags.

Key Numbers

• $38.34M — Revenue (Nine months ended September 30, 2024)
• $3.83M — Net Income (Nine months ended September 30, 2024)
• $72.75M — Total Assets (As of September 30, 2024)
• $11.5M — Total Liabilities (As of September 30, 2024)

Key Players & Entities

• ISSUER DIRECT CORP (company) — Filer
• 0000843006 (company) — Central Index Key
• $38.34 million (dollar_amount) — Revenue for nine months ending September 30, 2024
• $3.83 million (dollar_amount) — Net income for nine months ending September 30, 2024
• $72.75 million (dollar_amount) — Total assets as of September 30, 2024
• $11.5 million (dollar_amount) — Total liabilities as of September 30, 2024
• 2024-09-30 (date) — End of reporting period

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) — 888KB
• isdr_ex311.htm (EX-31.1) — 12KB
• isdr_ex312.htm (EX-31.2) — 12KB
• isdr_ex321.htm (EX-32.1) — 5KB
• isdr_ex322.htm (EX-32.2) — 5KB
• isdr_10qimg4.jpg (GRAPHIC) — 3KB
• isdr_10qimg3.jpg (GRAPHIC) — 16KB
• 0001654954-24-013940.txt ( ) — 3745KB
• isdr-20240930.xsd (EX-101.SCH) — 30KB
• isdr-20240930_lab.xml (EX-101.LAB) — 201KB
• isdr-20240930_cal.xml (EX-101.CAL) — 41KB
• isdr-20240930_pre.xml (EX-101.PRE) — 158KB
• isdr-20240930_def.xml (EX-101.DEF) — 63KB
• isdr_10q_htm.xml (XML) — 485KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. 3 Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Unaudited Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 4 Unaudited Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2024 and 2023 5 Unaudited Consolidated Statement of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 6 Unaudited Consolidated Statements of Cash Flows for the Nine Months Ended September 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 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosure 34 Item 5. Other Information 34 Item 6. Exhibits 34

Signatures

Signatures 35 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) September 30, December 31, 2024 2023 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 4,086 $ 5,714 Accounts receivable (net of allowance for credit losses of $ 1,375 and $ 1,119 , respectively 4,405 4,368 Income tax receivable 223 232 Other current assets 1,319 1,190 Total current assets 10,033 11,504 Capitalized software (net of accumulated amortization of $ 3,583 and $ 3,424 , respectively) 934 556 Fixed assets (net of accumulated depreciation of $ 878 and $ 765 , respectively) 401 495 Right-of-use asset – leases 830 1,022 Other long-term assets 153 158 Goodwill 21,927 21,927 Intangible assets (net of accumulated amortization of $ 11,607 and $ 9,562 , respectively) 27,445 29,490 Total assets $ 61,723 $ 65,152 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,420 $ 1,308 Accrued expenses 2,185 1,919 Income taxes payable 13 11 Current portion of long-term debt 3,667 4,000 Deferred revenue 5,308 5,412 Total current liabilities 12,593 12,650 Long-term debt (net of debt discount of $ 74 and $ 87 , respectively) 12,926 15,913 Deferred income tax liability 40 139 Lease liabilities – long-term 755 1,009 Other long-term liabilities 145 21 Total liabilities 26,459 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 September 30, 2024 and December 31, 2023, respectively. — — Common stock $ 0.001 par value, 20,000,000 shares authorized, 3,833,977 and 3,815,212 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively. 4 4 Additional paid-in capital 23,999 23,531 Other accumulated comprehens

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Note 1. Basis of Presentation The unaudited interim consolidated balance sheet as of September 30, 2024 and consolidated statements of operations, comprehensive income (loss), stockholders' equity and cash flows for the three and nine-month periods ended September 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" or "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 equivalen

View Full Filing

View this 10-Q filing on SEC EDGAR