CreditRiskMonitor Announces 2024 Results
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) ha riportato i risultati finanziari per il 2024 con ricavi di 19,8 milioni di dollari, segnando un aumento del 5% (878.000 dollari) rispetto al 2023. Tuttavia, il reddito operativo è diminuito di 243.000 dollari, arrivando a 1,25 milioni di dollari, mentre l'utile netto ha mostrato una leggera flessione di 20.000 dollari, scendendo a 1,67 milioni di dollari nel 2024.
L'azienda ha annunciato la nomina di Shyarsh Desai come Chief Operating Officer a partire dal 19 marzo 2025. Le metriche di soddisfazione dei clienti hanno mostrato prestazioni forti con un Net Promoter Score di 77 e 4,6/5 sia per la Qualità del Prodotto che per il Servizio Clienti.
L'azienda ha notato un aumento dell'interesse per i loro prodotti CreditRiskMonitor® e SupplyChainMonitor™ a causa dell'aumento dei tassi di fallimento. Stanno espandendo la copertura mondiale attraverso nuovi metodi di scoring, partnership sui dati e implementazione dell'IA in varie operazioni, pur riconoscendo che questi investimenti potrebbero influenzare la redditività a breve termine.
CreditRiskMonitor (OTCQX:CRMZ) reportó sus resultados financieros de 2024 con ingresos de 19.8 millones de dólares, lo que representa un aumento del 5% (878,000 dólares) respecto a 2023. Sin embargo, el ingreso operativo disminuyó en 243,000 dólares, alcanzando 1.25 millones de dólares, mientras que el ingreso neto tuvo una ligera caída de 20,000 dólares, quedando en 1.67 millones de dólares en 2024.
La empresa anunció el nombramiento de Shyarsh Desai como Director de Operaciones a partir del 19 de marzo de 2025. Las métricas de satisfacción del cliente mostraron un rendimiento sólido con un Net Promoter Score de 77 y 4.6/5 tanto en Calidad del Producto como en Servicio al Cliente.
La empresa notó un aumento en el interés por sus productos CreditRiskMonitor® y SupplyChainMonitor™ debido al aumento de las tasas de quiebra. Están ampliando la cobertura mundial a través de nuevos métodos de puntuación, asociaciones de datos e implementación de IA en diversas operaciones, aunque reconocen que estas inversiones podrían afectar la rentabilidad a corto plazo.
CreditRiskMonitor (OTCQX:CRMZ)는 2024년 재무 결과를 발표하며 1980만 달러의 수익을 기록했으며, 이는 2023년 대비 5% 증가한 수치입니다 (878,000달러). 그러나 운영 수익은 243,000달러 감소하여 125만 달러에 이르렀고, 순이익은 2만 달러 소폭 감소하여 167만 달러에 도달했습니다.
회사는 Shyarsh Desai를 2025년 3월 19일부터 최고 운영 책임자로 임명한다고 발표했습니다. 고객 만족도 지표는 제품 품질과 고객 서비스 모두에서 77의 순 추천 점수와 4.6/5로 강력한 성과를 보였습니다.
회사는 파산율 증가로 인해 CreditRiskMonitor® 및 SupplyChainMonitor™ 제품에 대한 관심이 증가하고 있음을 알렸습니다. 그들은 새로운 스코어링 방법, 데이터 파트너십 및 다양한 운영에서 AI 구현을 통해 전 세계적인 범위를 확장하고 있으며, 이러한 투자들이 단기적인 수익성에 영향을 미칠 수 있음을 인정하고 있습니다.
CreditRiskMonitor (OTCQX:CRMZ) a annoncé ses résultats financiers pour 2024 avec des revenus de 19,8 millions de dollars, marquant une augmentation de 5 % (878 000 dollars) par rapport à 2023. Cependant, le résultat opérationnel a diminué de 243 000 dollars pour atteindre 1,25 million de dollars, tandis que le résultat net a légèrement reculé de 20 000 dollars pour s'établir à 1,67 million de dollars en 2024.
L'entreprise a annoncé la nomination de Shyarsh Desai au poste de directeur des opérations à compter du 19 mars 2025. Les indicateurs de satisfaction client ont montré de bonnes performances avec un Net Promoter Score de 77 et 4,6/5 pour la qualité des produits et le service client.
L'entreprise a noté un intérêt croissant pour ses produits CreditRiskMonitor® et SupplyChainMonitor™ en raison de l'augmentation des taux de faillite. Ils élargissent leur couverture mondiale grâce à de nouvelles méthodes de scoring, des partenariats de données et la mise en œuvre de l'IA dans diverses opérations, tout en reconnaissant que ces investissements pourraient affecter la rentabilité à court terme.
CreditRiskMonitor (OTCQX:CRMZ) hat seine finanziellen Ergebnisse für 2024 veröffentlicht und einen Umsatz von 19,8 Millionen Dollar erzielt, was einem Anstieg von 5% (878.000 Dollar) im Vergleich zu 2023 entspricht. Der operative Gewinn hingegen sank um 243.000 Dollar auf 1,25 Millionen Dollar, während der Nettogewinn um 20.000 Dollar auf 1,67 Millionen Dollar zurückging.
Das Unternehmen gab die Ernennung von Shyarsh Desai zum Chief Operating Officer bekannt, die am 19. März 2025 wirksam wird. Die Kundenzufriedenheitskennzahlen zeigten eine starke Leistung mit einem Net Promoter Score von 77 und 4,6/5 sowohl für Produktqualität als auch für Kundenservice.
Das Unternehmen stellte ein gestiegenes Interesse an seinen Produkten CreditRiskMonitor® und SupplyChainMonitor™ aufgrund der steigenden Insolvenzquoten fest. Sie erweitern die weltweite Abdeckung durch neue Bewertungsmethoden, Datenpartnerschaften und die Implementierung von KI in verschiedenen Operationen, erkennen jedoch an, dass diese Investitionen die kurzfristige Rentabilität beeinträchtigen könnten.
- Revenue growth of 5% YoY to $19.8M
- Strong customer satisfaction metrics with NPS of 77
- Increased market opportunity due to rising bankruptcy rates
- Strategic hire of experienced COO
- $3T in annualized trade credit transaction data
- Operating income decreased by $243K YoY
- Net income declined by $20K YoY
- Expected lower profitability in short-to-medium term due to increased investments
- Risk of economic downturn impacting client base and offsetting growth
VALLEY COTTAGE, NY / ACCESS Newswire / March 20, 2025 / CreditRiskMonitor.com, Inc. (OTCQX:CRMZ) reported revenues of
Mike Flum, CEO, said, "We remain committed to achieving higher efficiency for our teams, knowing it will require increased investment in technical human capital and systems. We continue refining our management team with an emphasis on improved performance and accountability. While we still expect to show lower profitability in the short-to-medium term due to this higher spending on data, technology, and skilled employees, the results of these investments will set up the Company for profitable growth in the long term.
To that end, we are happy to welcome Shyarsh Desai as our new Chief Operating Officer effective March 19, 2025. Shyarsh brings a wealth of experience in the risk, credit, and technology spaces from his time as the Chief Executive Officer at SMYYTH + CARIXA, a credit-to-cash company, and Credit2B, an AI-innovator in B2B credit decision automation, until its sale to Billtrust, where he served as Group President. He has also held management positions at Navex, Dun & Bradstreet, and IBM. We are excited to have Shyarsh on the team and help us drive for greater efficiency, performance, and accountability at CreditRiskMonitor.com.
On the customer satisfaction front, the Company surveyed clients between late 2024 and early 2025 to baseline our Net Promoter Score ("NPS"), Product Quality, and Customer Support. We achieved high marks in all categories including an excellent-level 77 for NPS as well as 4.6 out of 5 for both Product Quality and Customer Service. We are immensely proud of these results and applaud our teams for developing products and experiences that garner this much positive feedback.
On the product front, we are seeing mounting interest in our CreditRiskMonitor® and SupplyChainMonitor™ products due to increased bankruptcies and recessionary risks. The U.S. bankruptcy rates in the first quarter are higher in 2025 versus 2024, and 2024's full-year level was the highest since 2010. If these trends continue, we expect to see improved growth rates like those experienced during the Great Recession and the COVID-19 pandemic; however, there is a risk that this correction could negatively impact our clients enough to offset this growth. SupplyChainMonitor™ should also benefit from turmoil in global trade and supplier relationships caused by the unfolding tariff escalation as businesses search for alternative suppliers with less geopolitical exposure.
We are working to expand our worldwide coverage using novel scoring methods and expanded data partnerships. The Company is also increasing the functionality of our Confidential Financial Statements Solution to process more document types and support foreign languages so our customers can receive more scores on their private company counterparties. Our use of AI continues to evolve within financial risk scoring, data acquisition, data processing, quality assurance, and products. We are exploring ways to leverage AI for improved customer experience and workflow optimization by getting quality information to customers in easy-to-digest formats. Our over twenty-five-year commitment to maintaining high-quality data has been prescient as these AI systems directly reflect the quality of the input data. While these investments can be costly and involve iteration to get right, we believe these AI systems will make significant contributions to our operations.
A full copy of the financial statements can be found at https://crmz.ir.edgar-online.com/
Overview
CreditRiskMonitor.com, Inc. (creditriskmonitor.com) sells a suite of 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. Our primary SaaS subscription products for analyzing commercial financial risk are CreditRiskMonitor® and SupplyChainMonitor™. These products help corporate credit and procurement professionals stay ahead of and manage financial risk more quickly, accurately, and cost-effectively. Our subscribers include nearly
To help subscribers prioritize and monitor counterparty financial risk, our SaaS platforms offer the proprietary FRISK® and PAYCE® scores, the well-known Altman Z"-score, agency ratings from key Nationally Recognized Statistical Rating Organizations ("NRSROs"), curated news, and detailed financial spreads & ratios. Our FRISK® and PAYCE® scores are financial distress classification models that measure a business's probability of bankruptcy within a year. The FRISK® score also includes a risk signal based on the aggregate research behaviors of our subscribers, who control counterparty access to trade credit at some of the most sophisticated companies in the world. The inclusion of this risk signal boosts the overall accuracy of this bankruptcy analytic by lowering the false positive rate for the riskiest corporations.
Through its Trade Contributor Program, the Company receives monthly confidential accounts receivables data from hundreds of subscribers and non-subscribers, which it parses, processes, aggregates, and reports to summarize the invoice payment behavior of B2B counterparties without disclosing the specific contributors of this information. The size of the Trade Contributor Program's current annualized trade credit transaction data is approximately
Safe Harbor Statement
Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", "believes", "expects" or words of similar meaning, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, risks associated with the COVID-19 pandemic and those risks, uncertainties and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.
CONTACT:
CreditRiskMonitor.com, Inc.
Mike Flum, Chief Executive Officer
(845) 230-3037
ir@creditriskmonitor.com
SOURCE: CreditRiskMonitor.com, Inc.
View the original press release on ACCESS Newswire
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