Cleartronic Inc. (OTCMKTS:CLRI) Stock Moves Up After Quarterly Earnings
Cleartronic Inc. (OTCMKTS:CLRI) is up 7% in a week. The company has released its fiscal Q1 2022 financial results for the period ending December 31, 2021.
Market Stats
On Wednesday, CLRI stock ended flat at $0.0484 with 506 shares, compared to its average volume of 9.1k shares. The stock moved within a range of $0.0455 – 0.0484 after opening trading at $0.0455.
Cleartronic, Inc. Announces First Quarter 2022 Financial Results, 33% Increase in Gross Profit
Interestingly, the company continues to demonstrate success, and now it is reporting eight consecutive profitable quarters. Compared to the first quarter of 2021, the company saw a 33% increase in gross profit and a 70% growth in profit from adjusted net income and ongoing operations.
With the growth and utilization of the ReadyOp platform, the company managed to exhibit disciplined growth and constant profitability, even during these days of diminished and uncertain economic activity nationwide, owing to the pandemic.
Despite the difficulties, Cleartronic and ReadyOp have continued to grow their customer base, with new enterprises and government entities expressing an increased interest in the advantages of the ReadyOp software platform. As a result, there is a steady rise in the number of new clients as well as an increase in usage of ReadyOp by existing customers. So, in the coming weeks, investors should watch CLRI.
Key Quote
Marc Moore, CEO of Cleartronic (the “Company”), stated, “We are very pleased to demonstrate disciplined growth and consistent profitability with the expansion and use of our ReadyOp platform, especially during these periods of reduced and unstable economic activities nationwide due to the COVID-19 pandemic. Through these challenging times, Cleartronic and ReadyOp™ have continued to expand our customer base with new businesses and government agencies, each showing their heightened interest in how our ReadyOp software platform benefits their operations. We are seeing a sustained increase in the number of new customers and growth in the use of ReadyOp by our current customers. We continue to focus on strengthening our balance sheet by improving working capital and reducing debt.”
Traders Corner
CLRI stock is trading above the 20-Day and 50-Day Moving averages of $0.0467 and $0.0454 respectively. Moreover, the stock is trading above the 10-Day moving average of $0.0471.
