CoreCard Corporation (NYSE:CCRD) Q3 2022 Earnings Conference Call November 2, 2022 11:00 AM ET
Company Participants
Matt White - Chief Financial Officer
Leland Strange - Chairman and Chief Executive Officer
Conference Call Participants
Anja Soderstrom - Sidoti
Operator
Greetings and welcome to CoreCard Q3 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host Matt White, CFO. Thank you. You may begin.
Matt White
Thank you. Good morning, everyone. With me on the call today is Leland Strange, Chairman and CEO of CoreCard Corporation. He will add some additional comments and answer questions at the conclusion of my prepared remarks.
Before I start, I'd like to remind everyone that during the call, we will be making certain forward-looking statements to help you understand CoreCard and its business environment. These statements involve a number of risk factors, uncertainties, and other factors that could cause actual results to differ materially from our expectations.
Factors that may affect future operations are included in filings with the SEC, including our 2021 Form 10-K and subsequent filings. As we noted in our press release, our third quarter results were in-line with our expectations.
Total revenue for the third quarter of 2022 was $14.5 million, a 12% increase compared to the third quarter of 2021. The components of our revenue for the third quarter consisted of professional services revenue of 7.8 million, an increase of 12% processing and maintenance revenue of 5.3 million, an increase of 52%, and third party revenue of 1.4 million.
Services revenue, which represents total revenue less license revenue, grew 30% for the third quarter of 2022, compared to the third quarter of 2021
- Read more current CCRD analysis and news
- View all earnings call transcripts