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Viq Solutions (TSE:VQS)
:VQS
Earnings Data
Report Date
May 08, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-0.14Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 28, 2025
|% Change Since: -15.00%
|Next Earnings Date:May 08, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant achievements, including a positive adjusted EBITDA for the full year, revenue growth, and cost control improvements. However, there were some setbacks in Q4, including an increased net loss and decreased gross profit due to non-recurring one-time costs.Company Guidance
During the VIQ Solutions Fourth Quarter and Full Year 2024 Earnings Conference Call, the company outlined significant progress in financial and operational metrics. In 2024, VIQ achieved a $6 million improvement in adjusted EBITDA, reaching $2 million, and narrowed their net loss by $7.3 million year-over-year, reflecting a strategic focus on cost control and automation. Revenue increased by 5% to $43.2 million, with gross profit rising by 6% to $19.2 million and a gross margin of 44.5%. Selling and administrative expenses dropped by 22%, contributing to the improved financial performance. The company secured $38.9 million in multiyear bookings and onboarded 59 new SaaS clients, doubling revenue in their AI-powered FirstDraft solution. These advancements were driven by strategic investments in automation, with a focus on AI-driven tools, which improved transcription speed, accuracy, and scalability. Looking forward to 2025, VIQ aims to continue expanding margins and generating free cash flow through automation, dynamic pricing, revenue diversification, and enhanced AI platform capabilities.Full Year Positive Adjusted EBITDA
For the first time, VIQ delivered a full year of positive adjusted EBITDA, reaching $2 million, a $6 million improvement from the previous year.
Revenue Growth
Revenue increased by 5% year-over-year to $43.2 million, supported by consistent customer volumes and a growing base of SaaS clients.
Gross Margin Improvement
Gross profit rose to $19.2 million, up 6%, with gross margin improvement to 44.5%, driven by cost optimization and automation gains.
Enterprise Contracts Secured
Secured several enterprise contracts amounting to $38.9 million in multiyear bookings, significantly strengthening the recurring revenue base.
Operational Efficiency and Cost Control
Selling and administrative expenses declined 22% year-over-year, reflecting disciplined execution and workforce optimization.
Strategic Focus on AI and Automation
Key accomplishments included enhancing the core AI platform and achieving 100% year-over-year revenue growth in the AI-powered FirstDraft solution.
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TSE:VQS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:VQS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 28, 2025 | C$0.20 | C$0.20 | 0.00% |
| Nov 12, 2024 | C$0.24 | C$0.24 | 0.00% |
| Aug 13, 2024 | C$0.24 | C$0.24 | 0.00% |
| May 13, 2024 | C$0.20 | C$0.20 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Viq Solutions (TSE:VQS) report earnings?
Viq Solutions (TSE:VQS) is schdueled to report earning on May 08, 2025, TBA Not Confirmed.
What is Viq Solutions (TSE:VQS) earnings time?
Viq Solutions (TSE:VQS) earnings time is at May 08, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:VQS EPS forecast?
Currently, no data Available
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