MIND CTI Reports Second Quarter 2024 Results
MIND CTI (NASDAQ: MNDO) reported Q2 2024 results with revenues of $5.3 million, matching Q2 2023. Operating income was $1.0 million (20% of revenues), slightly down from $1.1 million in Q2 2023. Net income remained stable at $1.1 million ($0.06 per share). For the first six months of 2024, revenues increased to $11.0 million from $10.7 million in the same period of 2023.
CEO Monica Iancu announced her transition to Chairperson, with Ariel Glassner appointed as the new CEO. The company's cash position was $14.6 million as of June 30, 2024. A cash dividend of $0.24 per share was distributed in April 2024. Revenue distribution showed Europe representing 53% of total revenues, with the Americas at 42%.
MIND CTI (NASDAQ: MNDO) ha riportato i risultati del secondo trimestre 2024 con ricavi di 5,3 milioni di dollari, in linea con il secondo trimestre 2023. L'utile operativo 猫 stato di 1,0 milione di dollari (20% dei ricavi), leggermente in calo rispetto a 1,1 milioni di dollari nel Q2 2023. L'utile netto 猫 rimasto stabile a 1,1 milioni di dollari (0,06 dollari per azione). Nei primi sei mesi del 2024, i ricavi sono aumentati a 11,0 milioni di dollari rispetto ai 10,7 milioni di dollari nello stesso periodo del 2023.
Il CEO Monica Iancu ha annunciato il suo passaggio a Presidente, con Ariel Glassner nominato nuovo CEO. La posizione di cassa dell'azienda era di 14,6 milioni di dollari al 30 giugno 2024. Un dividendo in contante di 0,24 dollari per azione 猫 stato distribuito nell'aprile 2024. La distribuzione dei ricavi ha mostrato l'Europa che rappresenta il 53% dei ricavi totali, con le Americhe al 42%.
MIND CTI (NASDAQ: MNDO) inform贸 los resultados del segundo trimestre de 2024 con ingresos de 5,3 millones de d贸lares, igualando el segundo trimestre de 2023. El ingreso operativo fue de 1,0 mill贸n de d贸lares (20% de los ingresos), ligeramente por debajo de 1,1 millones de d贸lares en el segundo trimestre de 2023. El ingreso neto se mantuvo estable en 1,1 millones de d贸lares (0,06 d贸lares por acci贸n). En los primeros seis meses de 2024, los ingresos aumentaron a 11,0 millones de d贸lares desde los 10,7 millones de d贸lares en el mismo periodo de 2023.
La CEO Monica Iancu anunci贸 su transici贸n a Presidenta, con Ariel Glassner nombrado como el nuevo CEO. La posici贸n de efectivo de la empresa era de 14,6 millones de d贸lares al 30 de junio de 2024. Se distribuy贸 un dividendo en efectivo de 0,24 d贸lares por acci贸n en abril de 2024. La distribuci贸n de ingresos mostr贸 que Europa representa el 53% de los ingresos totales, con las Am茅ricas en el 42%.
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MIND CTI (NASDAQ: MNDO) a publi茅 les r茅sultats du deuxi猫me trimestre 2024 avec des revenus de 5,3 millions de dollars, 茅galant ceux du deuxi猫me trimestre 2023. Le r茅sultat d'exploitation 茅tait de 1,0 million de dollars (20 % des revenus), l茅g猫rement en baisse par rapport 脿 1,1 million de dollars au Q2 2023. Le r茅sultat net est rest茅 stable 脿 1,1 million de dollars (0,06 dollar par action). Pour les six premiers mois de 2024, les revenus ont augment茅 脿 11,0 millions de dollars contre 10,7 millions de dollars sur la m锚me p茅riode de 2023.
La PDG Monica Iancu a annonc茅 son passage 脿 la pr茅sidence, avec Ariel Glassner nomm茅 nouveau PDG. La position de tr茅sorerie de l'entreprise 茅tait de 14,6 millions de dollars au 30 juin 2024. Un dividende en esp猫ces de 0,24 dollar par action a 茅t茅 distribu茅 en avril 2024. La distribution des revenus a montr茅 que l'Europe repr茅sentait 53 % des revenus totaux, avec les Am茅riques 脿 42 %.
MIND CTI (NASDAQ: MNDO) berichtete 眉ber die Ergebnisse des zweiten Quartals 2024 mit einem Umsatz von 5,3 Millionen USD, was dem zweiten Quartal 2023 entspricht. Das Betriebsergebnis betrug 1,0 Millionen USD (20% des Umsatzes), leicht r眉ckl盲ufig von 1,1 Millionen USD im zweiten Quartal 2023. Der Nettogewinn blieb stabil bei 1,1 Millionen USD (0,06 USD pro Aktie). In den ersten sechs Monaten des Jahres 2024 stiegen die Ums盲tze auf 11,0 Millionen USD von 10,7 Millionen USD im gleichen Zeitraum des Jahres 2023.
CEO Monica Iancu k眉ndigte ihren 脺bergang zur Vorsitzenden an, w盲hrend Ariel Glassner als neuer CEO ernannt wurde. Die Liquidit盲tsposition des Unternehmens betrug zum 30. Juni 2024 14,6 Millionen USD. Im April 2024 wurde eine Bardividende von 0,24 USD pro Aktie ausgezahlt. Bei der Umsatzverteilung machte Europa 53% des Gesamtumsatzes aus, w盲hrend die Amerikas 42% ausmachten.
- Stable quarterly revenue of $5.3 million, matching Q2 2023
- Six-month revenue increased to $11.0 million from $10.7 million year-over-year
- Strong cash position of $14.6 million as of June 30, 2024
- Cash dividend of $0.24 per share distributed in April 2024
- Slight decrease in quarterly operating income from $1.1 million to $1.0 million
- Six-month operating income margin decreased from 22% to 20.9% year-over-year
- License revenues represented only 2% of total revenues in Q2 2024
Insights
MIND CTI's Q2 2024 results show stability amidst challenges. Revenues remained flat at
The revenue mix shows heavy reliance on maintenance and services (
MIND CTI's focus on convergent billing solutions and enterprise messaging positions it well in the evolving telecom landscape. However, the flat revenue growth and minimal license sales indicate potential market saturation or increased competition. The company's strength in customer care and billing software (
The upcoming CEO transition from Monica Iancu to Ariel Glassner is significant. Glassner's background in Telco solutions and startup leadership could bring fresh perspectives to drive innovation and market expansion. However, this transition also presents execution risks that investors should monitor closely.
Monica Iancu to Transition from CEO to Chair before Year End
Board Appoints Ariel Glassner as Successor
YOQNEAM, Israel, Aug. 06, 2024 (GLOBE NEWSWIRE) -- MIND C.T.I. LTD. 鈥� (NasdaqGM:MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product-based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions, today announced results for its second quarter ended June 30, 2024.
The following will summarize our major developments in the second quarter of 2024 as well as our business. The financial results can be found in the Company News section of our website at and in our Form 6-K.
Financial Highlights
- Revenues of
$5.3 million , same as the second quarter of 2023, and compared to$5.8 in the first quarter of 2024, where the messaging segment was favorably impacted by larger than usual customer campaigns. - Operating income of
$1.0 million , or20% of total revenues, compared with$1.1 million , or20% of total revenues in the second quarter of 2023. - Net income was
$1.1 million , or$0.06 per share, compared with$1.1 million , or$0.06 per share in the second quarter of 2023. - Cash flow from operating activities was
$2.0 million , compared with$1.9 million in the second quarter of 2023.
Six Month Financial Highlights
- Revenues of
$11.0 million , compared with$10.7 million in the first six months of 2023. - Operating income of
$2.3 million , or20.9% of total revenues, compared with$2.4 million or22% of total revenues in the first six months of 2023. - Net income of
$2.5 million , or$0.12 per share, same as the first six months of 2023. - Cash flow from operating activities in the first six months of 2024 was
$2.9 million , compared with$2.4 million in the first six months of 2023.
Monica Iancu, MIND CTI鈥檚 CEO, commented: 鈥淚n August 2024, MIND celebrates 24 years as a public company. We have delivered some years of growth and encountered some difficult periods, including the present year, with multiple challenges to overcome. We have an incredibly strong billing platform, highly scalable analytic enterprise solutions, a flexible messaging platform and a strong team with proven successful execution. It is the right time for me to retire as CEO and to transition into the role of Chairperson of the Board, and I intend to continue to hold my shareholder position for the foreseeable future. After we completed a selection process, the Board of Directors has nominated Mr. Ariel Glassner for the CEO position. Mr. Glassner brings over 25 years of leadership experience and his career includes CEO roles at startup companies during the last five years. Mr. Glassner shaped his expertise in Telco solutions during his 15-year tenure at Amdocs, leading the implementation of complex solutions for major telecommunication operators. He played a pivotal role in driving revenues and overseeing transactions, and is also a graduate of the Amdocs Excellent Leaders program.
鈥淲e built MIND around a culture of integrity and innovation that will continue to serve our employees and customers for years to come. We own great technology, and have a team that is ready to deliver a bright and secure future for our customers. I am confident that Ariel will preserve the same values and believe he is the right leader to take MIND to new heights.鈥�
Cash Position
Our cash position, including short-term deposits and marketable securities, was
As previously announced, the Board declared on March 8, 2024, a cash dividend of
Revenue Distribution for Q2 2024
Europe represented
Customer care and billing software totaled
Maintenance and additional services totaled
Revenue Distribution for the First Six Months of 2024
Europe represented
Customer care and billing software totaled
Maintenance and additional services totaled
About MIND
MIND CTI Ltd. is a leading provider of convergent end-to-end billing and customer care product-based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions. MIND provides a complete range of billing applications for any business model (license, SaaS, managed service or complete outsourced billing service) for Wireless, Wireline, Cable, IP Services and Quad-play carriers. A global company, with over twenty-five years of experience in providing solutions to carriers and enterprises, MIND operates from offices in Israel, Romania, Germany and the United States.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements", including estimations relating to the impact of the political situation in Ukraine, expectations of the results of the Company鈥檚 business optimization initiative, integration of the company鈥檚 acquisitions and its projected outlook and results of operations. These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including, but not limited to, economic conditions in our key markets, as well as the risks discussed in the Company's annual report and other filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information.
For more information please contact:
Andrea Dray
MIND C.T.I. Ltd.
Tel: +972-4-993-6666
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