Welcome to our dedicated page for iCoreConnect news (Ticker: ICCT), a resource for investors and traders seeking the latest updates and insights on iCoreConnect stock.
iCoreConnect Inc. develops and markets secure cloud-based HIPAA compliant software services focused on compliance, workflow/productivity, and electronic health records systems. Its core services technology can be adopted to other vertical markets that require a high degree of secure data communication, such as the legal, financial, and education fields. It markets secure HIPAA compliant cloud-based software as a service (SaaS) offering under the names of iCoreExchange, iCoreCodeGenius, iCoreSecure, iCoreMD, iCoreDental, iCoreMobile, iCoreHuddle, iCoreRx, iCorePDMP, iCoreEPCS, and iCorePay. The company's software is sold under annual recurring revenue subscriptions. The company has a single reporting segment for reporting purposes focused on the North American market.
iCoreConnect (NASDAQ: ICCT) announced a 1-for-20 reverse stock split effective December 20, 2024, at 11:59 pm ET. Trading under the same ticker 'ICCT' will resume on December 23, 2024, with a new CUSIP number 450958301. The split will reduce outstanding shares from approximately 33.0 million to 1.6 million, while maintaining 250 million authorized shares. The nominal par value remains at $0.0001 per share. Any fractional shares will be rounded up to the nearest whole number at the broker level. The company's equity compensation plan will be proportionately adjusted.
iCoreConnect (NASDAQ: ICCT) has announced a new Channel Partner agreement with The Dental Marshal, a dental practice consulting service. Through this partnership, The Dental Marshal will offer iCoreConnect's comprehensive suite of cloud-based SaaS solutions to its dental practice clients. The solutions include iCoreRx for ePrescribing, iCoreVerify for insurance verification, iCorePay for digital payments, and several other specialized dental practice management tools.
The partnership aims to combine The Dental Marshal's organizational expertise with iCoreConnect's technology solutions to enhance dental practice efficiency, streamline revenue cycle management, and improve operational performance.
iCoreConnect (NASDAQ: ICCT) has expanded its endorsement partnership with the Maryland State Dental Association (MSDA) to include its complete platform of cloud-based software and technology solutions. The MSDA previously endorsed iCoreVerify in 2021 and iCoreRx in 2022. The expanded endorsement now covers ten products, including solutions for insurance verification, ePrescribing, billing, claims processing, HIPAA compliance, and practice analytics. This development adds MSDA to iCoreConnect's network of over 190 product endorsement agreements across the United States.
iCoreConnect (NASDAQ: ICCT) reported strong financial results for Q3 2024, with total revenue growing 51% year-to-date to $8,599,262. The company achieved a 56% increase in recurring revenue and improved gross margins from 74% to 77%. Quarterly revenue rose 39% to $2,787,999.
The company expanded its market presence through multiple dental association partnerships and launched the iCoreEnterprise Platform, providing single sign-on access to 17 SaaS products. Strategic moves included acquiring Healthcare Circle of Excellence assets and divesting the MSP Division to focus on higher-margin SaaS solutions.
iCoreConnect (NASDAQ: ICCT) has secured an endorsement agreement with the North Dakota Dental Association (NDDA) for its comprehensive cloud-based software platform. This addition brings iCoreConnect's total product endorsement agreements to over 180 across the United States. The endorsement covers the complete iCoreEnterprise platform, which includes solutions for ePrescribing, insurance verification, billing, claims processing, HIPAA-compliant email, medical coding, patient education, practice analytics, cloud backup, and HIPAA compliance.
iCoreConnect (NASDAQ: ICCT) has expanded its partnership with the Arizona Dental Association (AzDA), which now endorses five of the company's products. Building on their initial 2020 endorsement of iCoreRx and 2023 expansion to include iCoreVerify and iCoreExchange, AzDA has added two new endorsements: iCoreClaims for dental claims and billing services, and iCorePay for digital patient statements, payments, and billing. The expansion aims to improve revenue generation and patient satisfaction for AzDA members through enhanced practice management solutions.
iCoreConnect Inc. (NASDAQ: ICCT) has secured a new endorsement agreement with the Delaware State Dental Society (DSDS), marking another milestone in its growth among state dental associations. This partnership adds to iCoreConnect's over 180 product endorsement agreements across various states, reinforcing its position in the dental industry.
The DSDS has endorsed five iCoreConnect products: iCoreVerify, iCoreVerifyPro, iCoreRx, iCoreClaims, and iCorePay. These solutions aim to enhance productivity and efficiency for dental professionals. With this addition, iCoreConnect now serves approximately 155,000 dental professionals across the U.S., utilizing these endorsements for product distribution and lead generation.
iCoreConnect Inc. (NASDAQ: ICCT) has announced the acquisition of substantially all assets of the Healthcare Circle of Excellence (HCofE). This strategic move positions iCoreConnect as a leader in providing essential resources and solutions to help local healthcare community partners and practices remain independent and thrive. The company plans to launch a new Healthcare Circle of Excellence division and website to identify critical needs of practitioners and offer vetted solutions.
Key points of the acquisition include:
- Expansion of iCoreConnect's partnerships and resources
- Launch of a new Healthcare Circle of Excellence division
- Creation of a website offering tailored solutions for healthcare practices
- Continued involvement of HCofE founders in expanding partnerships
- Focus on empowering locally vetted teams of healthcare business professionals
This acquisition aims to enhance iCoreConnect's ability to support the financial success of healthcare practices across the U.S.
iCoreConnect Inc. (NASDAQ: ICCT) has announced an agreement to divest its Managed Service Provider (MSP) Division to The 20, through an asset sale. This strategic move is expected to deliver several key benefits for the company and its investors:
1. Focus on core competencies: Allowing for better resource allocation and management concentration on primary business lines.
2. Financial benefits: Generating capital to reduce debt and reinvest in core areas, potentially improving profit margins and streamlining operations.
3. Strategic repositioning: Aligning with the company's goal of focusing on higher-margin SaaS opportunities.
4. Simplified structure: Enhancing operational agility and responsiveness to market dynamics.
5. Increased investor appeal: Creating a more streamlined, easier-to-analyze company for investors.
This divestiture is seen as a significant step towards positioning iCoreConnect for sustained growth and long-term success in its core markets.
iCoreConnect Inc. (NASDAQ: ICCT), a cloud-based SaaS company focusing on enterprise and healthcare workflow solutions, has appointed Yvonne Hyland to its Board of Directors. Hyland brings over 30 years of experience in the global technology industry, with leadership roles at SAP, Gartner, and various startups. She has a track record of scaling businesses from startups to $200M in annual revenue and securing successful exits.
Robert McDermott, President and CEO of iCoreConnect, highlighted Hyland's strategic mindset and experience in driving company growth as key assets for the company's future. Hyland expressed enthusiasm about joining the board during this pivotal time in iCoreConnect's development.
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