Overview
Cybersecurity and cloud infrastructure provider's Q1 revenue rose 15% yr/yr, driven by managed IT growth
Q1 loss from operations narrowed by over 42% compared to prior year
Company repurchased 50,000 shares in Q1 and expanded AI partnerships
Outlook
Company aims to expand AI and predictive analytics capabilities via partnerships to drive long-term growth
Result Drivers
MANAGED IT SERVICES GROWTH - Revenue from core managed IT services rose 19%, driven by new customers and expanded services to existing clients
PROCUREMENT REVENUE SURGE - Procurement revenue increased 78.4%, with management noting this line can be uneven due to project timing and customer budgets
AI AND BUSINESS DEVELOPMENT - Company cited traction in business development and strategic partnerships to integrate AI and predictive analytics as supporting growth, especially in regulated sectors
Company press release: ID:nACSD7VjDa
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$6.40 mln
$6.22 mln (1 Analyst)
Q1 Net Income
-$660,214
Q1 Adjusted EBITDA
Miss
-$167,519
$226,000 (1 Analyst)
Q1 Income from Operations
Beat
-$768,182
-$1.05 mln (1 Analyst)
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the business support services peer group is "buy"
Wall Street's median 12-month price target for Intelligent Protection Management Corp is $6.50, about 245.7% above its May 11 closing price of $1.88
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)