Great Q1! Exceded ExpectationsWhat a Q.. with leading indicators continuining to point in the right direction.
Company continues to show great growth and scale.
Q2 will be another record.. in my estimation.
First Quarter 2024 Highlights
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Total Revenue increased by 31% year over year – Total Revenue for the three months ended March 31, 2024, was $3,500,137 compared to $2,675,493 for the same period in 2023: an increase of $824,644.
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Recurring Revenue increased by 28% year over year – Recurring Revenue for the three months ended March 31, 2024, was $1,535,543 compared to $1,199,092 for the same period in 2023: an increase of $336,451.
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Gross Profit increased by 27% year over year – Gross profit for the three months ended March 31, 2024, was $1,343,332 compared to $1,057,983 for the same period in 2023: an improvement of $285,349.
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Net income before taxes increased by 185% year over year – The Company recorded net income for the three months ended March 31, 2024, of $401,269 compared to $140,951 for the same period in 2023: an increase of $260,318.
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Working capital and Cash in hand – At March 31, 2024, the Company had working capital of $6,176,461. Cash balance on March 31, 2024 was $4,323,320.