iCoreConnect Inc. (ICCT) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
529 E. CROWN POINT ROAD OCOEE, FL 34761 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7372 - Prepackaged Software (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 17,003 | 1,219 | 457 | 6 | 229 | 522 | |||
| Cash and cash equivalents | 17,003 | 1,219 | 457 | 6 | 229 | 522 | |||
| Receivables | 512 | 564 | 598 | ||||||
| Prepaid expense | 128 | 176 | 224 | ||||||
| Intangible current assets | 926 | ||||||||
| Other undisclosed current assets | (16,146) | 799 | 964 | ||||||
| Total current assets: | 1,370 | 3,508 | 2,019 | 134 | 405 | 746 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 1,060 | 1,122 | 1,183 | ||||||
| Property, plant and equipment | 189 | 202 | 200 | ||||||
| Intangible assets, net (including goodwill) | 1,485 | 1,485 | 1,485 | ||||||
| Goodwill | 1,485 | 1,485 | 1,485 | ||||||
| Asset, held-in-trust | 85,748 | 84,195 | 83,695 | ||||||
| Other undisclosed noncurrent assets | 16,432 | 9,368 | 11,518 | ||||||
| Total noncurrent assets: | 19,166 | 12,178 | 14,386 | 85,748 | 84,195 | 83,695 | |||
| TOTAL ASSETS: | 20,536 | 15,687 | 16,405 | 85,882 | 84,600 | 84,440 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 4,894 | 3,243 | 4,948 | 1,409 | 988 | 685 | |||
| Accounts payable | 1,198 | 802 | 300 | ||||||
| Accrued liabilities | 10,000 | 211 | 186 | 385 | |||||
| Other undisclosed accounts payable and accrued liabilities | 4,894 | 3,243 | (5,052) | ||||||
| Deferred revenue | 181 | ||||||||
| Debt | 6,389 | 4,720 | 3,695 | ||||||
| Other undisclosed current liabilities | 813 | 913 | 355 | 845 | |||||
| Total current liabilities: | 12,276 | 8,876 | 8,998 | 2,254 | 988 | 685 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,195 | 1,420 | |||||||
| Long-term debt, excluding current maturities | 1,195 | 1,420 | |||||||
| Liabilities, other than long-term debt | 886 | 946 | 1,002 | ||||||
| Operating lease, liability | 886 | 946 | 1,002 | ||||||
| Other undisclosed noncurrent liabilities | |||||||||
| Total noncurrent liabilities: | 2,081 | 2,366 | 1,002 | ||||||
| Total liabilities: | 14,358 | 11,242 | 10,000 | 2,254 | 988 | 685 | |||
| Temporary equity, carrying amount | 85,748 | 84,195 | 83,695 | ||||||
| Equity | |||||||||
| Equity, attributable to parent | 6,178 | 4,444 | 6,404 | (2,120) | (583) | 61 | |||
| Preferred stock | 0 | 0 | 0 | ||||||
| Common stock | 1 | 1 | 1 | 0 | 0 | 0 | |||
| Additional paid in capital | 126,386 | 119,482 | 113,828 | 189 | |||||
| Accumulated deficit | (120,210) | (115,039) | (107,425) | (2,120) | (583) | (129) | |||
| Total equity: | 6,178 | 4,444 | 6,404 | (2,120) | (583) | 61 | |||
| TOTAL LIABILITIES AND EQUITY: | 20,536 | 15,687 | 16,405 | 85,882 | 84,600 | 84,440 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,723 | 2,450 | 2,005 | |||||
| Cost of revenue (Cost of Goods and Services Sold) | (513) | (536) | (518) | |||||
| Gross profit: | 2,210 | 1,914 | 1,487 | |||||
| Operating expenses | 10,091 | (3,910) | (775) | (843) | (529) | |||
| Other undisclosed operating loss | (171) | |||||||
| Operating income (loss): | 2,210 | 12,005 | (2,423) | (775) | (843) | (699) | ||
| Nonoperating income (expense) | 2,206 | (1,269) | 1,005 | 885 | 698 | |||
| Other nonoperating expense | ||||||||
| Interest and debt expense | (226) | (102) | (478) | |||||
| Income (loss) from continuing operations before income taxes: | 1,984 | 14,109 | (4,170) | 231 | 42 | (1) | ||
| Income tax expense | (186) | |||||||
| Other undisclosed loss from continuing operations | (215) | |||||||
| Income (loss) from continuing operations: | 1,984 | 14,109 | (4,170) | 231 | (144) | (216) | ||
| Other undisclosed net income (loss) | (1,007) | 478 | ||||||
| Net income (loss): | 1,984 | 13,101 | (3,692) | 231 | (144) | (216) | ||
| Net income attributable to noncontrolling interest | 5,171 | 7,613 | 3,910 | |||||
| Other undisclosed net income (loss) attributable to parent | (12,326) | (28,328) | (4,129) | (214) | ||||
| Net income (loss) attributable to parent: | (5,171) | (7,613) | (3,910) | 17 | (144) | (216) | ||
| Preferred stock dividends and other adjustments | (1,553) | (500) | (698) | |||||
| Other undisclosed net income (loss) available to common stockholders, basic | 1,553 | 500 | 698 | |||||
| Net income (loss) available to common stockholders, basic: | (5,171) | (7,613) | (3,910) | 17 | (144) | (216) | ||
| Other undisclosed net income available to common stockholders, diluted | 487 | |||||||
| Net income (loss) available to common stockholders, diluted: | (5,171) | (7,126) | (3,910) | 17 | (144) | (216) | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 1,984 | 13,101 | (3,692) | 231 | (144) | (216) | ||
| Comprehensive income (loss): | 1,984 | 13,101 | (3,692) | 231 | (144) | (216) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 5,171 | 7,613 | 3,910 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | 7,155 | 20,715 | 219 | 231 | (144) | (216) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.