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CreditRiskMonitor.com, Inc. has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in operating revenues to $19,809,881 from $18,931,931 in the previous year. The increase is attributed to higher SaaS subscription product revenue.
Data and product costs rose to $8,621,851, representing 44% of revenues, compared to 41% in the previous year. This increase was due to higher salary expenses and increased costs of third-party content.
Selling, general, and administrative expenses increased to $9,536,492 from $9,223,031, primarily due to higher salary expenses and customer acquisition costs.
Net income for the year was $1,674,902, slightly down from $1,695,053 in the previous year. The company maintained a cash and cash equivalents balance of $6,674,473 as of December 31, 2024.
The filing also details the company's strategic priorities, which include expanding its product offerings and increasing market share, particularly in the U.S. and international markets.
The company has no debt and relies on its recurring revenue stream from SaaS subscriptions to maintain financial stability.
CreditRiskMonitor.com does not anticipate any significant changes in its financial condition and plans to continue investing in product development and marketing to support future growth.
The company identified no material weaknesses in its internal controls over financial reporting and continues to focus on enhancing its cybersecurity measures.
The filing includes information on the company's directors and executive officers, with no changes reported in the board composition since the last fiscal year.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Creditriskmonitor.com, Inc. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.