iCoreConnect Continues Its Revenue Growth in Q2 2022
OCOEE, FL, Aug. 12, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – iCoreConnect, Inc. (OTCQB: ICCT), a market leading cloud-based Software-as-a-Service (SaaS) and technology company focused on increasing workflow productivity and customer profitability through its enterprise platform of applications and services, announces its Q2 2022 quarterly results.
iCoreConnect continues to build off its 2021 results delivering $2.1MM of revenue for the quarter ended June 30, 2022 versus $1.0MM for the comparative period of 2021, a 210% rate of growth. Highlights for the Three Months Ended June 30, 2022 and 2021:
- Annual Recurring Revenue: $1.8MM from $0.9MM (200% growth)
- Revenues: $2.0MM from $0.7MM (285% growth)
- Subscribers: Increased subscribers by 15,000
The continued traction of the Company’s electronic prescription services, iCoreRx, along with the full launch of its automated insurance verification service, iCoreVerify, contributed to the increase in Annual Recurring Revenues (ARR) to $1.8MM from $1.0MM partnered with the increases in subscriptions of all its other SaaS solutions including iCoreExchange, iCoreHuddle and iCoreHuddle+, iCoreCodeGenius, iCoreCloud, iCorePay, iCoreSecure and iCoreIT (MSaaS and MSP services).
Subscribers grew by 225% to approximately 27,000 recurring subscribers at June 30, 2022 from approximately 12,000 at the end of June 2021.
About iCoreConnect
iCoreConnect (OTCQB: ICCT) is a market leading, cloud-based software and technology company focused on increasing workflow productivity and customer profitability through its enterprise platform of applications and services. iCoreConnect is most notably known for its innovation in solving healthcare business problems. The company’s philosophy places a high value on customer feedback, allowing iCoreConnect to respond to the market’s needs. iCoreConnect touts a platform of 15 SaaS enterprise solutions and nearly 80 agreements with state or regional healthcare associations across the U.S.
Forward-Looking Statements
In this news release, the use of the words "believe," "could," "expect," "may," "positioned," "project," "projected," "should," "will," "would," or similar expressions are intended to identify forward-looking statements that represent the Company's current judgment about possible future events. The Company believes these judgments are reasonable, but these statements are not guarantees of any events or financial results, and actual results may differ materially due to a variety of important factors.
Contact: IR@iCoreConnect.com
Released August 12, 2022