Creditriskmonitr - CRMZ STOCK NEWS

CreditRiskMonitor (OTCQX:CRMZ) reported its 2024 financial results with revenues of $19.8 million, marking a 5% increase ($878,000) from 2023. However, operating income decreased by $243,000 to $1.25 million, while net income saw a slight decline of $20,000 to $1.67 million in 2024.

The company announced the appointment of Shyarsh Desai as Chief Operating Officer effective March 19, 2025. Customer satisfaction metrics showed strong performance with a Net Promoter Score of 77 and 4.6/5 for both Product Quality and Customer Service.

The company noted increased interest in their CreditRiskMonitor® and SupplyChainMonitor™ products due to rising bankruptcy rates. They are expanding worldwide coverage through new scoring methods, data partnerships, and AI implementation in various operations, though acknowledging these investments may impact short-term profitability.

CreditRiskMonitor (OTCQX:CRMZ) reported Q3 2024 operating revenues of $5.0 million, up 5% year-over-year, with pre-tax income reaching $716 thousand, an increase of $222 thousand compared to Q3 2023. The improved profitability was attributed to reduced salary expenses, lower customer acquisition costs, and increased interest income.

The company expects short-to-medium term profitability to decrease due to increased investments in data, technology, and employee upskilling. Their SupplyChainMonitor™ platform continues to gain new clients and was recognized as a top provider of financial risk analytics by Spend Matters. The company is also enhancing its news systems with new natural language techniques to improve content tagging and analysis.

CreditRiskMonitor.com's SupplyChainMonitor™ solution has been recognized as a top procurement technology in the Spend Matters Fall 2024 SolutionMap, excelling in the Risk Management TPRM/SCRM category with a focus on financial risk. The platform earned top marks for Supplier Risk Modeling and Supplier Risk Mitigation, and exceeded industry benchmarks in Advanced Analytics, Technology, Servicing Customers, and Supplier Performance Management.

Key achievements include:

• The FRISK® Score with 96% accuracy in predicting financial stress and bankruptcy risk
• Comprehensive service support for supplier onboarding and implementation
• Excellence in SXM/Supplier Risk Management Services
• Advanced analytics capabilities for deep financial data analysis

CEO Mike Flum emphasized the importance of continuous monitoring of financial risk in supplier risk management, positioning SupplyChainMonitor™ as a best-in-class point solution provider in this niche.

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.