Cleartronic, Inc. Announces Financial Results for the Three Months Ended March 3… – Press Release

BOCA RATON, Fla., May 11, 2022 (GLOBE NEWSWIRE) — Cleartronic, Inc. OTCPINK released its 2022 second fiscal quarter (Q2) financial statements for the three months ended March 31, 2022. CLRI continues to show continued success with nine (9) consecutive quarters of profitable operations.

Highlights of the Q2’s performance include revenues for the three months increased by 11%, including a 19% increase in recurring revenue from the ReadyOp platform as were added new clients and existing clients added revenue with their increased use during the quarter. The Company’s gross profit margin increased to 86%, again indicating the benefits for the ReadyOp platform increase. Income from Operations for the three months reached a record high, including a 48% increase when compared to the prior year’s second quarter.

Revenue for the six months ended March 31, 2022, was up 23% over the prior year. The Gross Profit and Gross Profit Margin increased with the added new clients and increased use by existing clients. Income from Operations for the six months increased by 56% compared to the prior year’s six-month period.

Marc Moore, CEO of Cleartronic (the “Company”), stated, “We continue to be pleased with the disciplined growth and consistent profitability in the expansion and use of our ReadyOp platform, especially during these periods of fluctuating economic activities. Through these challenging times, Cleartronic and ReadyOp have continued to expand their customer base with new businesses and government agencies, each showing their heightened interest in how the ReadyOp software platform benefits their operations. We are seeing a continuing increase in the number of new customers and growth in the use of ReadyOp by our current customers.” He further states, “We are very pleased with these results, especially the consistent growth in revenue and use of our ReadyOp platform. We have also worked diligently to improve and strengthen the Company’s Balance Sheet, reduced debt…

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