iCoreConnect (ICCT) AI Stock Analysis

• Market Cap: $3.23M
• Dividend Yield: N/A
• Average Volume (3M): 6.39M
• Price to Earnings (P/E): ―
• Beta (1Y): -32.96
• Revenue Growth: 42.66%
• EPS Growth: -98.89%
• Country: US
• Employees: 67
• Sector: Healthcare
• Sector Strength: 39
• Industry: Medical - Healthcare Information Services
• EPS (TTM): -59.67
• Shares Outstanding: 4,877,080
• 10 Day Avg. Volume: 721,824
• 30 Day Avg. Volume: 6,391,481
• PEG Ratio: 0.03
• Price to Book (P/B): -1.07
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.06
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 37 Underperform
• Price Target: ―

iCoreConnect's overall stock score is impacted significantly by the negative financial performance, including high leverage, negative margins, and reliance on external funding. Technical indicators also suggest a bearish trend, further weighing down the score. Valuation metrics do not provide any relief, as the negative P/E ratio highlights ongoing losses. The lack of positive earnings call data or corporate events leaves no immediate prospects for improvement.

iCoreConnect Business Overview & Revenue Model

Company Description

iCoreConnect Inc., a cloud-based software and technology company, provides Health Insurance Portability and Accountability Act (HIPAA) compliant cloud-based software as a service (SaaS) in the United States. The company's products include iCoreRx, a HIPAA compliant electronic prescription software; iCorePDMP, a solution that checks the patient's Prescription Drug Monitoring Program (PDMP) history before prescribing controlled substances; iCoreVerify and iCoreVerify+, a HIPAA compliant SaaS solution that automatically retrieves a patients insurance eligibility breakdown to verify their benefits in advance of their appointment and on-demand; iCoreHuddle and iCoreHuddle+, a tool to instantly reveal the revenue potential of each patient; and iCoreCodeGenius, a medical coding reference SaaS solution. It also offers iCoreExchange, a SaaS email solution that allows doctors to send and receive secure email with attachments to and from other healthcare professionals; iCoreCloud, ability to backup their on-premise servers and computers to the cloud; iCoreClaims, for processing and managing claims submitted by policyholders or dental care providers; iCorePay, a patient payment processing solutions for payment and revenue cycle tracking; iCoreSecure, secure SaaS solution that solves privacy concerns in the insurance, real estate, financial and many other industry sectors; and iCoreIT, an IT managed services. The company was formerly known as iMedicor, Inc. and changed its name to iCoreConnect Inc. in June 2017. iCoreConnect Inc. was founded in 1992 and is headquartered in Ocoee, Florida.

How the Company Makes Money

iCoreConnect makes money primarily through subscription-based revenue models, where healthcare providers pay recurring fees for access to its software solutions. Additional revenue streams may include implementation and training services, as well as potential partnerships with other healthcare technology providers. These partnerships can enhance the company's offerings and expand its customer base, thereby increasing revenue.

iCoreConnect Financial Statement Overview

Summary

iCoreConnect is experiencing growth in revenue, but profitability and financial stability are major concerns. The company faces operational and financial challenges, with negative margins, high leverage, and reliance on external financing. While there is revenue growth, the sustainability of operations is uncertain without significant improvements.

Income Statement

The company shows a consistent increase in total revenue over the years, indicating growth potential. However, the gross profit margin is declining, and the net profit margin remains negative, reflecting ongoing losses. EBIT and EBITDA margins are also negative, highlighting operational challenges. Revenue growth is positive, but profitability remains a concern.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, with negative stockholders' equity, indicating potential financial instability. The equity ratio is also negative, showing a reliance on liabilities. These factors suggest significant financial risk and leverage issues.

Cash Flow

Operating cash flow and free cash flow are negative, indicating cash outflows from operational activities. The free cash flow to net income ratio is unfavorable due to consistent net losses. Financing cash flow is positive, suggesting reliance on external funding. Overall, cash flow management appears weak.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
11.05M	8.15M	7.99M	4.96M	2.12M	1.01M
	Gross Profit
7.46M	6.12M	5.74M	3.38M	1.11M	709.00K
	EBIT
-17.12M	-10.28M	-4.80M	-3.29M	-3.24M	-3.38M
	EBITDA
-22.93M	-11.88M	-3.51M	-1.52M	-2.35M	-2.09M
	Net Income Common Stockholders
-29.07M	-15.55M	-7.36M	-5.80M	-3.68M	-3.15M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
6.74K	1.22M	196.15K	71.81K	7.62K	445.00K
	Total Assets
6.25M	15.69M	6.56M	6.63M	2.69M	2.52M
	Total Debt
5.48M	7.88M	6.71M	3.96M	1.58M	948.00K
	Net Debt
5.47M	6.66M	6.51M	3.89M	1.57M	503.00K
	Total Liabilities
7.34M	11.24M	9.06M	5.63M	3.32M	2.06M
	Stockholders Equity
-1.10M	4.44M	-2.50M	1.01M	-628.94K	465.00K
Cash Flow		Free Cash Flow
-9.58M	-9.71M	-1.57M	-3.20M	-1.81M	-2.09M
	Operating Cash Flow
-8.32M	-8.82M	-1.27M	-2.90M	-1.27M	-1.67M
	Investing Cash Flow
-2.13M	-10.21M	-293.96K	-3.52M	-917.90K	-473.00K
	Financing Cash Flow
10.20M	20.06M	1.69M	6.48M	1.75M	2.58M

iCoreConnect Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.66
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICCT, the sentiment is Negative. The current price of 0.66 is below the 20-day moving average (MA) of 1.58, below the 50-day MA of 2.22, and below the 200-day MA of 4.05, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 34.13 is Neutral, neither overbought nor oversold. The STOCH value of 10.47 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ICCT.

iCoreConnect Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	53 Neutral	$5.23B	3.23	-44.27%	2.82%	16.82%	0.11%
LGMK	41 Neutral	$3.11M	―	-51.79%	―	1.56%	88.49%
ICCT	37 Underperform	$3.23M	―	-1718.32%	―	42.66%	-98.89%
NLSP		$7.95M	―		―	―	―
HCTI	27 Underperform	$3.19M	―	-143.99%	―	-64.77%	43.53%
STSS		$3.64M	―	-75.14%	―	―	―
HSCS	54 Neutral	$3.99M	―	-163.47%	―	-100.00%	78.91%