CREDITRISKMONITOR.COM INC - CRMZ STOCK NEWS

CreditRiskMonitor.com, Inc. (OTCQX:CRMZ) reported Q2 2024 operating revenues of $4.9 million, a 5% increase from Q2 2023. However, pre-tax income decreased by $423,000 to $170,000, primarily due to increased expenses. CEO Mike Flum attributed this to continued investment in data, technology, marketing, and employee upskilling to support future growth.

The company highlighted rising corporate bankruptcy filings and increased global business failure risks as potential drivers for demand. CreditRiskMonitor's new Confidential Financial Statements Solution and SupplyChainMonitor™ platform are receiving positive market feedback. The company serves nearly 40% of Fortune 1000 companies and provides comprehensive credit reports, bankruptcy risk analytics, and supply chain risk management solutions.

CreditRiskMonitor (OTCQX:CRMZ) announced the appointment of Jennifer Gerold as Chief Financial Officer and David Reiner as Chief Accounting Officer, effective May 23, 2024.

Gerold, succeeding Steven Gargano, brings data-driven decision-making expertise aimed at supporting the company’s profitable growth objectives. Reiner, with 11 years of increasing responsibility at the company, will enhance accounting, HR, and facilities processes.

CreditRiskMonitor, a leader in predictive financial risk analytics, provides SaaS products like CreditRiskMonitor and SupplyChainMonitor, aiding corporate credit and supply chain professionals in managing financial risk efficiently.

These appointments align with the company's operational improvement initiatives, positioning it for sustainable growth.

CreditRiskMonitor (OTCQX:CRMZ) reported its first quarter results for fiscal 2024 with operating revenues of $4.8 million, marking a 5% increase compared to the same period in fiscal 2023. However, pre-tax income decreased by approximately $189 thousand, totaling $166 thousand, primarily due to higher expenses related to employee compensation and third-party content. CEO Mike Flum highlighted the company's strategic investments in new data, technology, marketing, and employee development aimed at supporting long-term revenue growth. Demand for products is rising due to increasing corporate bankruptcies and geopolitical risks. The company's new Confidential Financial Statement Solution has received positive feedback, particularly for its innovative pricing model that charges only upon receiving a risk score. Moving forward, CreditRiskMonitor anticipates significant interest from the credit community at upcoming industry events.

CreditRiskMonitor (CRMZ) reported revenues of $18.9 million for the year ended December 31, 2023, showing a 5% increase compared to 2022. Operating income decreased by $79 thousand, attributed to higher data and product costs. Net income rose by $335 thousand. CEO Mike Flum highlighted the resurgence in interest for CreditRiskMonitor and the positive reception of SupplyChainMonitor. The company looks forward to 2024 with optimism due to growing demand for B2B financial risk analysis.

CreditRiskMonitor (OTCQX:CRMZ) reported operating revenues of $4.8 million, an increase of 5% for the third quarter of fiscal 2023 compared to the same period of fiscal 2022. Pre-tax income decreased by approximately $133 thousand, primarily due to increased expenses. CEO Mike Flum highlighted the increase in corporate bankruptcy filings and encouraged subscribers to use bankruptcy risk analytics for risk management. The company's products, including SupplyChainMonitor, cater to corporate credit and supply chain professionals, offering comprehensive commercial credit reports, bankruptcy risk analytics, and financial and payment information.

CreditRiskMonitor® (OTCQX:CRMZ) reported operating revenues of $4.8 million, an increase of approximately $245 thousand or 5%, for the third quarter of fiscal 2023 compared to the same period of fiscal 2022. The Company reported pre-tax income of approximately $494 thousand, a decrease of approximately $133 thousand, for the third quarter of fiscal 2023 compared to the same period of fiscal 2022. The decrease in pre-tax profitability was primarily driven by increased expenses related to employee salaries, employee benefits, commissions, and third-party content due to inflation. The CEO, Mike Flum, highlighted the increase in corporate bankruptcy filings compared to previous years and encouraged subscribers to use bankruptcy risk analytics to screen for high financial risk counterparties. CreditRiskMonitor® sells web-based, SaaS subscription products providing access to comprehensive commercial credit reports, bankruptcy risk analytics, financial and payment information, and curated news on public and private companies worldwide. The company's newest platform, SupplyChainMonitor™, leverages its financial risk analytics expertise to create a risk management solution built specifically for procurement, supply chain, sourcing, and finance personnel involved in the supplier lifecycle, risk assessment, and ongoing risk monitoring.

CreditRiskMonitor (OTCQX:CRMZ) reported operating revenues of $4.7 million, a 5% increase compared to the same period of fiscal 2022. The company also reported pre-tax income of approximately $594 thousand, a 100% increase. CEO Mike Flum highlighted the doubling of corporate bankruptcy filings within their coverage universe year-to-date in 2023 compared to 2022, signaling potential tumultuous times ahead. The company is also investing in generative AI applications to reinforce its subscription services.

CreditRiskMonitor has been approved as a Discretionary Credit Limit (DCL) report provider by Allianz Trade, the world's leading trade credit insurer. This partnership will help Allianz Trade clients better manage credit risk by utilizing CreditRiskMonitor's reports on over 30 million businesses worldwide.

CreditRiskMonitor (OTCQX: CRMZ) Elects New Board Members and Introduces SupplyChainMonitor Platform