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iCreate CEO Tyrone Wilson.
It’s been a rocky ride for listed training institute iCreate. On top of carrying sizeable accumulated losses that have grown over the past two years, the company has seen a dramatic revenue slide from $24.5 million in its first quarter this year to just shy of $8 million for its third quarter to September, although it managed to eclipse nine months income for last year by $6 million. The 2020 third quarter fall-off from the more than $16 million the company turned over in the corresponding three months last year, is in the region of 52 per cent. Even as a $7 million non-cash revaluation moderated a nine-month net loss of $2.2 million, the four-year-old company registered a third quarter loss of $5.3 million after posting conservative profits of $1.2 million and $1.8 million in the first and second quarters of the year, respectively.