Michel Pepin Attributes Ciscom’s 42% Q2 2024 Revenue Increase to Client Focus and AI

In a recent interview with InvestorNews host Pat Bolland, Michel Pepin, President and CFO of Ciscom Corp. (CSE: CISC | OTCQB: CISCF), highlighted the company’s strong financial performance and strategic initiatives. Ciscom Corp., which invests in and manages companies within the Information and Communication Technology (ICT) sector, reported a significant revenue increase of 42% in Q2 2024, bringing the total revenue for the first half of 2024 to $17.3 million. Pepin attributed this growth to Ciscom’s commitment to their clients, noting, “We are partners and advisors to all of our clients as we help them in their quest to acquire more clientele.” He emphasized that their omni-channel offerings and digital solutions have been well-received in the market. In addition to revenue growth, Ciscom has successfully reduced operating expenses by 12%, achieving savings of over $600,000 through consolidation of operations and procurement efficiencies. This cost-cutting measure has positively impacted their financial results, with a reported EBITDA of $0.782 million for the first half of 2024, a significant turnaround from the previous year’s operating loss. “Our operating profit stands at $660,000 for the first half of the year. If you add the non-cash element, which is the share-based compensation, it puts us at $800,000 EBITDA,” Pepin explained. Ciscom is also investing heavily in artificial intelligence, viewing it as a key growth area. “We are looking at acquisitions that can be complementary to the current operations, particularly in digital offerings that touch on AI,” he stated. These AI initiatives are expected to drive significant efficiencies, allowing the company to grow its business by 15% without adding new resources.