Strong Revenue Growth
Revenue grew 16% in the third fiscal quarter to $5.9 million, and recurring revenue increased 15% to $5.8 million.
Significant Net Income Growth
Net income increased 27% from $1.6 million to $2 million, and net income to common shareholders increased 33% from $1.4 million to $1.9 million.
Cash Position and Capital Allocation
The company has over $28 million in cash at the end of the March 31 quarter and has returned over $25 million in capital to shareholders through dividends, stock repurchases, and preferred stock redemptions.
Deferred Revenue and Future Growth
Deferred revenue increased 70% to $4.2 million, indicating future revenue potential. The company remains confident in growing annual top-line revenue by 10% to 20%.
Operational Leverage and Efficiency
The company has maintained a common technology platform leading to financial and operational efficiencies, with a current revenue contribution margin of about 50%, aiming to reach 80%.