CREDITRISKMONITOR.COM INC - $CRMZ STOCK NEWS

CreditRiskMonitor (OTCQX:CRMZ) reported operating revenues of $4.8 million, an increase of 5% for the third quarter of fiscal 2023 compared to the same period of fiscal 2022. Pre-tax income decreased by approximately $133 thousand, primarily due to increased expenses. CEO Mike Flum highlighted the increase in corporate bankruptcy filings and encouraged subscribers to use bankruptcy risk analytics for risk management. The company's products, including SupplyChainMonitor, cater to corporate credit and supply chain professionals, offering comprehensive commercial credit reports, bankruptcy risk analytics, and financial and payment information.

CreditRiskMonitor® (OTCQX:CRMZ) reported operating revenues of $4.8 million, an increase of approximately $245 thousand or 5%, for the third quarter of fiscal 2023 compared to the same period of fiscal 2022. The Company reported pre-tax income of approximately $494 thousand, a decrease of approximately $133 thousand, for the third quarter of fiscal 2023 compared to the same period of fiscal 2022. The decrease in pre-tax profitability was primarily driven by increased expenses related to employee salaries, employee benefits, commissions, and third-party content due to inflation. The CEO, Mike Flum, highlighted the increase in corporate bankruptcy filings compared to previous years and encouraged subscribers to use bankruptcy risk analytics to screen for high financial risk counterparties. CreditRiskMonitor® sells web-based, SaaS subscription products providing access to comprehensive commercial credit reports, bankruptcy risk analytics, financial and payment information, and curated news on public and private companies worldwide. The company's newest platform, SupplyChainMonitor™, leverages its financial risk analytics expertise to create a risk management solution built specifically for procurement, supply chain, sourcing, and finance personnel involved in the supplier lifecycle, risk assessment, and ongoing risk monitoring.

CreditRiskMonitor (OTCQX:CRMZ) reported operating revenues of $4.7 million, a 5% increase compared to the same period of fiscal 2022. The company also reported pre-tax income of approximately $594 thousand, a 100% increase. CEO Mike Flum highlighted the doubling of corporate bankruptcy filings within their coverage universe year-to-date in 2023 compared to 2022, signaling potential tumultuous times ahead. The company is also investing in generative AI applications to reinforce its subscription services.

CreditRiskMonitor has been approved as a Discretionary Credit Limit (DCL) report provider by Allianz Trade, the world's leading trade credit insurer. This partnership will help Allianz Trade clients better manage credit risk by utilizing CreditRiskMonitor's reports on over 30 million businesses worldwide.

CreditRiskMonitor (OTCQX: CRMZ) Elects New Board Members and Introduces SupplyChainMonitor Platform