CreditRiskMonitor Announces 2023 Results [Yahoo! Finance]
CREDITRISKMONITOR.COM INC (CRMZ)
NASDAQ:AMEX Investor Relations:
creditriskmonitor.com/investors
Company Research
Source: Yahoo! Finance
thousand or 5%, for the year ended December 31, 2023, as compared to 2022. The Company reported operating income of approximately $1.49 million, a decrease of approximately $79 thousand for 2023 as compared to 2022. The decrease in operating margin was primarily due to increased data and product costs related to the SupplyChainMonitor™ product that preceded corresponding revenue gains. The Company reported net income of approximately $1.70 million, an increase of approximately $335 thousand for 2023 as compared to 2022. Mike Flum, CEO, said, "In the second half of 2023, CreditRiskMonitor experienced renewed interest in our namesake CreditRiskMonitor® product, due to a rebound in bankruptcy rates to more typical levels after the historical lows of 2021 and 2022. We're also starting to see more sales engagement with our new SupplyChainMonitor™ product as we've continued to refine our sales process while expanding our outreach. The high renewal rate for our initial SupplyChainMonitor™
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