RE:No Software GrowthLet's look at the numbers - year over year growth but flat revenues from Q2 to Q3 if I am reading it right.
- Software and Data Solutions revenue totaled $6.3 million (34.0% of revenue), compared to $6.9 million (37.4% of revenue) in Q2 2022, reflecting lower utilization of the Company's education offerings during the summer months.
- Clinical Research Operations revenue totaled $8.9 million (48.3% of revenue), compared to $7.3 million in Q2 2022 (39.3% of revenue), attributable to new study wins that have afforded visibility into higher revenue for clinical research in Q4 and into 2023.
- Clinical Services revenue totaled $3.2 million (17.6% of revenue) compared to $4.3 million (23.3% of revenue) in Q2 2022, reflecting revenue seasonality as fewer procedures are conducted during the summer months, and the impacts of staff turnover related to a tight labour market
Cinical research is the only area of current growth - $1.6 million covering up the other two divisions.
EBITDA numbers show improvement .
$18.4 million in revenues this quarter ; the outlook for revenues seem doable IMO at or
$21 million to
$22.5 million ( with expected education division bounce) for the three months ending
December 31, 2022 .