OCOEE, FL , Aug. 16, 2024 (GLOBE NEWSWIRE) -- iCoreConnect Inc. (NASDAQ:ICCT) ("iCore" or the "Company"), a leading provider of cloud-based software and technology solutions designed to enhance workflow productivity and customer profitability, is pleased to announce its financial results for the three and six months ended June 30, 2024. Q2 2024 Financial Highlights Revenue Growth: The Company reported a significant 66% increase in revenue, rising from $1.6 million in Q2 2023 to $3.1 million in Q2 2024. For the six months ending June 30, 2024, revenue grew from $3.7 million to $5.8 million compared to the same period in 2023. This growth was driven by strong performance across all active products and services. Gross Profit Margins: iCoreConnect saw an improvement in gross profit margins, increasing from 74% to 80% for both the three and six months ending June 30, 2024 compared to the three and six months ending June 30, 2023 respectively. Customer Demand: For the first time in the company's history, it has signed agreements with customers waiting for installation reflecting high demand for iCore's solutions, including the newly launched Fintech product, iCorePay. Operational and Strategic Developments Operating Expenses: Operating expenses increased due to a one-time, non-recurring charge of $4.8 million. This charge is related to stock-based compensation awarded to certain officers and employees in recognition of the Company's Nasdaq listing and merger with FG Merger Corp in 2023. Artificial Intelligence Integration: ...