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Sylogist ( (TSE:SYZ) ) just unveiled an update.
Sylogist reported fourth-quarter 2025 revenue of $14.4 million, with recurring revenue making up 81% of the total and SaaS annual recurring revenue rising 9% year over year to $33.8 million. Despite a gross margin of 56% and adjusted EBITDA of $1.0 million, the company posted a quarterly net loss of $0.9 million as it continues shifting away from project-based services.
For the full fiscal year 2025, Sylogist generated $62.2 million in revenue, with recurring revenue at 72% of the total, a gross margin of 58%, adjusted EBITDA of $9.1 million, and a net loss of $4.7 million. Management highlighted that the marked decline in project services revenue reflects a strategic transition to partner-led implementations and a broader transformation toward a higher-margin SaaS model, supported by recent board changes aimed at strengthening governance and long-term growth execution.
The most recent analyst rating on (TSE:SYZ) stock is a Hold with a C$4.75 price target. To see the full list of analyst forecasts on Sylogist stock, see the TSE:SYZ Stock Forecast page.
Spark’s Take on SYZ Stock
According to Spark, TipRanks’ AI Analyst, SYZ is a Neutral.
The score is driven primarily by solid financial fundamentals in cash generation and stable leverage, partially offset by weak profitability metrics. Technicals are the biggest drag given the strong downtrend signals (below major DMAs and negative MACD), while valuation is pressured by a negative P/E. Earnings call commentary is moderately supportive due to SaaS momentum and partnership progress but tempered by margin and segment headwinds.
To see Spark’s full report on SYZ stock, click here.
More about Sylogist
Sylogist Ltd. is a Calgary-based public sector software-as-a-service provider focused on mission-critical solutions for government, nonprofit, and education clients. The company generates the majority of its revenue from recurring SaaS and subscription services and is listed on the Toronto Stock Exchange under the ticker SYZ, targeting long-term, contract-based public sector technology spending.
Average Trading Volume: 142,570
Technical Sentiment Signal: Sell
Current Market Cap: C$90.48M
For an in-depth examination of SYZ stock, go to TipRanks’ Overview page.