OTCPK:ICCT

Stock Analysis Report

Executive Summary

iCoreConnect Inc. builds cloud-based communications systems primarily for the healthcare sector in the United States.

Risk Analysis

Earnings have declined by -12.44% per year over past 5 years

Has less than 1 year of cash runway

Currently unprofitable and not forecast to become profitable over the next 3 years

Shareholders have been diluted in the past year

+ 2 more risks


Snowflake Analysis

Imperfect balance sheet with weak fundamentals.

Share Price & News

How has iCoreConnect's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ICCT has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

n/a

ICCT

1.5%

US Healthcare Services

1.2%

US Market


1 Year Return

n/a

ICCT

29.0%

US Healthcare Services

24.2%

US Market

Return vs Industry: Insufficient data to determine how ICCT performed against the US Healthcare Services industry.

Return vs Market: Insufficient data to determine how ICCT performed against the US Market.


Shareholder returns

ICCTIndustryMarket
7 Dayn/a1.5%1.2%
30 Dayn/a5.7%3.5%
90 Dayn/a12.1%11.7%
1 Yearn/a29.3%29.0%26.9%24.2%
3 Yearn/a93.8%93.0%53.0%43.2%
5 Yearn/a64.8%63.2%75.3%56.0%

Price Volatility Vs. Market

How volatile is iCoreConnect's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is iCoreConnect undervalued compared to its fair value and its price relative to the market?


In this section, we usually try to help investors determine whether iCoreConnect is trading at an attractive price based on the cash flow it is expected to produce in the future. But as iCoreConnect has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis.


Next Steps

  • Take a look at our analysis of ICCT’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through iCoreConnect regulatory filings here.
  • Explore potentially undervalued companies in the Healthcare industry.

Future Growth

How is iCoreConnect forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

26.7%

Forecasted Healthcare industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as iCoreConnect has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

  • Take a look at our analysis of ICCT’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access iCoreConnect's filings and announcements here.
  • Explore growth companies in the Healthcare industry.

Past Performance

How has iCoreConnect performed over the past 5 years?

-12.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ICCT is currently unprofitable.

Growing Profit Margin: ICCT is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ICCT is unprofitable, and losses have increased over the past 5 years at a rate of -12.4% per year.

Accelerating Growth: Unable to compare ICCT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ICCT is unprofitable, making it difficult to compare its past year earnings growth to the Healthcare Services industry (0.6%).


Return on Equity

High ROE: ICCT has a negative Return on Equity (-1026.74%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is iCoreConnect's financial position?


Financial Position Analysis

Short Term Liabilities: ICCT's short term assets ($238.0K) do not cover its short term liabilities ($1.8M).

Long Term Liabilities: ICCT's short term assets ($238.0K) exceed its long term liabilities ($167.0K).


Debt to Equity History and Analysis

Debt Level: ICCT's debt to equity ratio (462.5%) is considered high.

Reducing Debt: ICCT had negative shareholder equity 5 years ago, but is now positive and has therefore improved.


Balance Sheet

Inventory Level: ICCT has a low level of unsold assets or inventory.

Debt Coverage by Assets: ICCT's debt is not covered by short term assets (assets are 0.2x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: ICCT has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: ICCT has less than a year of cash runway if free cash flow continues to reduce at historical rates of -4.1% each year


Next Steps

Dividend

What is iCoreConnect's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage0.7%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate ICCT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ICCT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ICCT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ICCT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ICCT's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of iCoreConnect's salary, the management and board of directors tenure and is there insider trading?

6.7yrs

Average management tenure


CEO

Robert McDermott (52yo)

6.5yrs

Tenure

US$1,086,129

Compensation

Mr. Robert P. McDermott has been Chief Executive Officer and President of iMedicor, Inc. since July 03, 2013 and serves as its Director. Mr. McDermott serves as Chief Executive Officer, President and Direc ...


CEO Compensation Analysis

Compensation vs Market: Robert's total compensation ($USD1.09M) is above average for companies of similar size in the US market ($USD519.76K).

Compensation vs Earnings: Robert's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

6.7yrs

Average Tenure

52yo

Average Age

Experienced Management: ICCT's management team is seasoned and experienced (6.7 years average tenure).


Board Age and Tenure

5.7yrs

Average Tenure

52yo

Average Age

Experienced Board: ICCT's board of directors are considered experienced (5.7 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 39.9%.


Management Team

  • Samuel Fortenbaugh (85yo)

    Legal Counsel & Director

    • Tenure: 2.4yrs
  • Muralidar Chakravarthi (40yo)

    Chief Technology Officer

    • Compensation: US$130.00k
  • Michael Islek

    Chief Technical Advisor

    • Tenure: 10.5yrs
  • Jeff Stellinga (50yo)

    Director of Business Development & Director

    • Tenure: 5.7yrs
  • Stacey Trottier

    Vice President of Sales

    • Tenure: 6.9yrs
  • Robert McDermott (52yo)

    President

    • Tenure: 6.5yrs
    • Compensation: US$1.09m
  • Dave Fidanza (56yo)

    Chief Information Officer

    • Tenure: 2.3yrs
    • Compensation: US$134.89k
  • Cile Spelce

    Chief Marketing Officer

    • Chris Elley

      Chief Innovation Officer

      • Alyse Fidanza

        Secretary


        Board Members

        • Samuel Fortenbaugh (85yo)

          Legal Counsel & Director

          • Tenure: 2.4yrs
        • J. Smith (49yo)

          Chairman of the Board

          • Tenure: 6.2yrs
        • Jeff Stellinga (50yo)

          Director of Business Development & Director

          • Tenure: 5.7yrs
        • Robert McDermott (52yo)

          President

          • Tenure: 6.5yrs
          • Compensation: US$1.09m
        • Bob Desanti (52yo)

          Independent Director

          • Tenure: 1.3yrs

        Company Information

        iCoreConnect Inc.'s company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: iCoreConnect Inc.
        • Ticker: ICCT
        • Exchange: OTCPK
        • Founded: 2001
        • Industry: Health Care Technology
        • Sector: Healthcare
        • Market Cap: US$61.655m
        • Shares outstanding: 61.65m
        • Website: https://www.icoreconnect.com

        Number of Employees


        Location

        • iCoreConnect Inc.
        • 3554 West Orange Country Club Drive
        • Suite 220
        • Winter Garden
        • Florida
        • 34787
        • United States

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        ICCTOTCPK (Pink Sheets LLC)YesCommon StockUSUSDNov 2005

        Biography

        iCoreConnect Inc. builds cloud-based communications systems primarily for the healthcare sector in the United States. The company offers cloud based software products. Its products include iCoreExchange that enables hospitals, State Health Information Exchanges, physician practices and dental practices, and other healthcare professionals to transfer patient health information; iCoreCodeGenius that provides the coding standards for the 10th revision of the international statistical classification of diseases and related health problems; and iCoreSecure, an encrypted email to protect personal and financial data. The company’s products also comprise electronic health record Software Platforms, including iCoreMD and iCoreDental for medical and dental communities; and iCoreExam that provides healthcare records and other information. It also offers consulting services for physician and dental practices. The company was formerly known as iMedicor, Inc. and changed its name to iCoreConnect Inc. in June 2017. iCoreConnect Inc. was founded in 2001 and is headquartered in Winter Garden, Florida. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/21 00:05
        End of Day Share Price2020/01/08 00:00
        Earnings2019/09/30
        Annual Earnings2018/12/31


        Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.