CREDITRISKMONITOR.COM INC - CRMZ STOCK NEWS

CreditRiskMonitor (OTCQX:CRMZ) reported operating revenues of $18 million for the year ended December 31, 2022, marking a 5% increase from 2021. However, pre-tax operating income decreased to approximately $1.75 million, down from $3.9 million the year before, largely due to increased expenses linked to inflation. Net income also fell to $1.4 million from $3.4 million. The company launched several new products in 2022, including the SupplyChainMonitor, and anticipates continued growth amid economic challenges in 2023, emphasizing the need to monitor counterparty risks.

CreditRiskMonitor (OTCQX:CRMZ) reported operating revenues of $4.55 million for Q3 2022, marking a 5% increase from the previous year. The pre-tax income stood at approximately $627 thousand, with a profit margin of 14%, down from 16% in Q3 2021. Increased expenses driven by inflation impacted profitability. Notable developments include the launch of the PAYCE® score, enhancing bankruptcy analytics coverage to over 330,000 businesses, and the early traction of the SupplyChainMonitor™ platform, responding to rising financial risk amid interest rate hikes.

CreditRiskMonitor (OTCQX:CRMZ) reported operating revenues of $4.34 million for Q1 2022, a 5% increase from the previous year. However, pre-tax income fell by $47 thousand to approximately $196 thousand, primarily due to rising employee-related expenses driven by inflation. President Mike Flum indicated that the current economic pressures could lead to increased bankruptcies, yet the company aims to enhance its offerings, including the upcoming launch of SupplyChainMonitor™ and expanding private company coverage under the PAYCE® score.

CreditRiskMonitor (OTCQX:CRMZ) has launched SupplyChainMonitor, a new platform at the ISM World 2022 event on May 23. This service aims to enhance procurement and supply chain risk management amid increasing global challenges such as the pandemic and inflation. With nearly 250 large corporations already utilizing CreditRiskMonitor, the new platform offers tools for monitoring supplier risks, providing insights from almost 30 million businesses and predictive analytics. Early adopters can benefit from discount incentives for the first 25 subscriptions.

CreditRiskMonitor (OTCQX:CRMZ) reported a significant increase in operating revenues for 2021, reaching approximately $17 million, an 8.5% rise from $15.7 million in 2020. The company achieved a pre-tax operating income of about $2.3 million compared to a loss of $238 thousand in the previous year. Notably, it recognized $1.6 million in non-taxable income from a forgiven PPP loan, leading to a net income of approximately $3.4 million.

Future growth initiatives include the launch of SupplyChainMonitor and expansion of private company data coverage.

CreditRiskMonitor (OTCQX:CRMZ) reported preliminary operational results for the year ending December 31, 2021, indicating revenue growth to approximately $17 million and an operating income exceeding $2 million. The company's Board has approved a $1 million share repurchase program to enhance shareholder value and confidence in its financial position. These buybacks will occur at the company's discretion based on market conditions and regulatory guidelines. The figures are pending final audit, with the company emphasizing its strategic commitment to investing in its stock.

CreditRiskMonitor (CRMZ) announced that its Paycheck Protection Program (PPP) loan has been fully forgiven by the Small Business Administration (SBA). This signifies that the loan is now paid in full, alleviating any financial obligation related to it. The company, a provider of financial information for credit and procurement professionals, serves over 1,000 large companies, including 35% of the Fortune 1000. CreditRiskMonitor delivers comprehensive risk analyses and timely news alerts to help businesses manage financial risks effectively.