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$IDN: Q1 2023 Results line with expectations
~ Revenue grew by 25% to $4.25M (SaaS rev was up by 26%)
~ EBITDA at ($556K) from (897K) in Q1 PY. Possibility of a breakeven by Q4
~ Gross Margins at 92.2% (90.7% in Q1 2022) - sequentially it is down by 2% .but then Q4 always
has a sales drop due to the cyclical nature of the business
~ The company continues to 1) Diversify 2) Implement pay per scan model 3) Increase prices
~ Some pilots in the banking sector has been delayed, but it shall trigger additional growth in
following quarters
~ Still decent cash position oat 10.2M

Stock is down, perhaps because the eps came out at -0.07, against a consensus estimate of -0.06

Disclosure: Invested and watching this company closely

Joey Hirendernath's avatar
Joey Hirendernath
@joeyhirendernathMay 11
@arparna were there any particular words of leadership that stuck with you?
Joshua Simka's avatar
Joshua Simka
@tomatoMay 12
@arpatna, what is $IDN's moat? Do you have a sense of how "sticky" the product is for customers? Is there pain/high switching costs associated with moving to a competitor?
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