Dye & Durham Ltd. (TSE:DND) has released an update.
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Dye & Durham Ltd. delivered a strong financial performance in the third quarter of fiscal 2024, with a 16% year-over-year revenue increase to approximately $107 million and an adjusted EBITDA of around $60 million. Despite divesting the TM Group, the company reported an 85% annual recurring revenue jump, now accounting for 30% of total revenue. Additionally, Dye & Durham announced a $185 million Substantial Issuer Bid to repurchase its outstanding 3.75% convertible senior unsecured debentures due in 2026.
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