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CreditRiskMonitor (OTCQX: CRMZ) announced a 7% increase in operating revenues for Q3 2021, totaling approximately $286,000 compared to Q3 2020. Pre-tax income rose by $344,000 during the same period. For the nine months ending September 30, 2021, operating revenues reached $1.1 million, a 10% increase year-over-year, while pre-tax income increased by $1.4 million. The company's President emphasized continued investment in product development and risk platforms as significant growth opportunities, despite reduced concerns over counterparty financial risk.
CreditRiskMonitor reported a strong second quarter for 2021, with revenues rising to $4.25 million, marking a 10.3% increase from $3.85 million in 2020. Operating expenses decreased by approximately $103,850 or 3.4%, thanks to a new commission methodology and reduced commission expenses. The company achieved a pre-tax income of approximately $417,600, a significant turnaround from a pre-tax loss of $108,000 the previous year. President Mike Flum highlighted ongoing investments in product development and infrastructure to enhance service value and support growth.
CreditRiskMonitor (OTCQX: CRMZ) announced a revenue increase of 8%, reaching $15.7 million for the year ending December 31, 2020, compared to $14.5 million in 2019. However, the company reported a pre-tax loss of $211,000 and a net loss of approximately $47,000, contrasting with previous net income of $218,000. CEO Jerry Flum emphasized the commitment to workforce retention and future service enhancements, despite the financial losses. Investments for launching a new platform and expanding private company coverage are ongoing, with expectations for future revenue growth.
CreditRiskMonitor (OTCQX: CRMZ) reported challenges in net income growth despite stable sales due to sustained payroll levels. The Board postponed dividend payments amid economic uncertainty and rising corporate debt. The focus remains on enhancing service and safeguarding employee jobs. Michael I. Flum was promoted to President, continuing to strengthen operational strategy. Over 35% of Fortune 1000 companies depend on CreditRiskMonitor's analytics. The company emphasizes liquidity preservation in light of ongoing market instability.
