VRTC (Veritec) Interest Expense: $-0.57 Mil (TTM As of Sep. 2024)

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What is Veritec Interest Expense?

Veritec VRTC Interest Expense is $-0.57 Mil as of Sep. 2024.

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Veritec's interest expense for the three months ended in Sep. 2024 was $ -0.15 Mil. Its interest expense for the trailing twelve months (TTM) ended in Sep. 2024 was $-0.57 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Veritec's Operating Income for the three months ended in Sep. 2024 was $ -0.24 Mil. Veritec's Interest Expense for the three months ended in Sep. 2024 was $ -0.15 Mil. Veritec did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Veritec  (OTCPK:VRTC) Interest Expense Explanation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense. The higher, the better.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Veritec's Interest Expense for the three months ended in Sep. 2024 was $-0.15 Mil. Its Operating Income for the three months ended in Sep. 2024 was $-0.24 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Sep. 2024 was $0.00 Mil.

Veritec's Interest Coverage for the quarter that ended in Sep. 2024 is calculated as

Veritec did not have earnings to cover the interest expense.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

The higher the ratio, the stronger the company's financial strength is.

Veritec Interest Expense Historical Data

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The historical data trend for Veritec's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Veritec Interest Expense Chart

Veritec Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Interest Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.34 -0.40 -0.45 -0.50 -0.55

Veritec Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Interest Expense Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.13 -0.14 -0.14 -0.14 -0.15

Veritec Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Sep. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.57 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Interest Expense →
What does a Interest Expense of $-0.57 Mil mean?
Veritec (VRTC) has a Interest Expense of $-0.57 Mil as of Sep. 2024. Interest Expense is the amount a company pays on its long-term debt. View historical data on Veritec and its competitors.
Is Veritec's Interest Expense too high?
Veritec's current Interest Expense is $-0.57 Mil.
How does Veritec's Interest Expense compare to WDDD and RBTC?
Veritec's Interest Expense of $-0.57 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Interest Expense for a Software company?
A good Interest Expense depends on the Software industry context. However, Interest Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Interest Expense mean?
A high Interest Expense can signal that a stock is expensive relative to its fundamentals. Interest Expense is the amount a company pays on its long-term debt. View historical data on Veritec and its competitors. Veritec's current Interest Expense is $-0.57 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Veritec stock overvalued right now?
Veritec (VRTC) has a current Interest Expense of $-0.57 Mil. The current Interest Expense is $-0.57 Mil. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Interest Expense calculated?
Interest Expense is calculated from a company's financial statements. For Veritec (VRTC), the current Interest Expense is $-0.57 Mil as of Sep. 2024. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Veritec Business Description

Address 2445 Winnetka Avenue North, Golden Valley, MN, USA, 55427
Veritec Inc is engaged in the development, marketing, sales, and licensing of products and rendering of professional services. The company renders professional services related to mobile banking technology. Its mobile banking technology is used to offer Prepaid Card Programs to sponsor banks and approved applicants/cardholders. The products and services offered by the company include MTC Debit Card Visa Prepaid Card Programs, blinx ON-OFF Debit Card Visa Prepaid Card Programs, Custom Branded Debit Card Programs, and blinxPay Mobile Wallet App. Geographically, it derives revenue from the United States.