QuoteMedia Q3 Revenue Rises 9% Amid Narrowing Losses
QuoteMedia reported a 9% increase in third-quarter revenue to $5.6 million alongside a sharply reduced net loss, according to executive remarks.
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Key points
- Third-quarter revenue grew 9% to $5.6 million.
- Gross margin improved to 54% from 48% a year prior.
- Development costs impacted reported net earnings by $400,000 without affecting cash flow.
QuoteMedia, Inc. released its financial results for the third quarter of 2026, pointing to revenue growth and improved profitability metrics. Led by President and CEO David Shworan, the company highlighted a 9% year-over-year revenue increase, reaching $5.6 million for the period.
Alongside the top-line expansion, QuoteMedia reported stronger operational efficiency. The company's gross margin climbed to 54%, improving from 48% during the corresponding quarter last year. Executives also noted that adjusted EBITDA increased while the reported net loss decreased by more than half.
Management emphasized that standard accounting rules for development costs weighed down reported earnings by approximately $400,000 in the third quarter and $1.3 million year-to-date, though these expenses did not affect actual cash flow.
What to watch next: Investors will be tracking whether development cost accounting continues to impact reported earnings as the company moves toward the end of the fiscal year.
Source Seeking Alpha — seekingalpha.com/article/4968012-quotemedia-inc-qmci-q3-2026-earnings-c… ↗
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