fQ3 resultsRevenue was up, although the SaaS increase could have been higher. Regardless, device revenue leads to SaaS revenue, so I'll take it. Gross margin was nicely up and progressing well toward their target level. Expenses continue to be well controlled. Of note is R&D expense, which had been higher than normal for several quarters, but is now starting to return to normal levels because they are nearing completion of the one-time FHIR implementation work. Bottom line - they make a profit of $731,017, which is a solid first.
The continuing issue of delayed collections is still there. I didn't expect much out of fQ3 on that front because collections traction only started in earnest late in fQ3. I would expect, however, a status report tomorrow in the NR and/or the webinar.
Overall, kudos to Reliq. They're getting closer to being de-risked...