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VIQ Solutions
(VQS)
VIQ Solutions (VQS) vs. iShares MSCI Canada ETF (EWC)
VIQ Solutions Business Overview & Revenue Model
VIQ Solutions Earnings Call Summary
VIQ Solutions Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.95M | 43.16M | 41.02M | 45.84M | 31.05M | 31.75M |
| Gross Profit | 18.70M | 19.23M | 18.11M | 21.93M | 14.92M | 16.15M |
| EBITDA | -3.07M | -750.54K | -7.05M | -943.62K | -11.80M | -678.63K |
| Net Income | -9.73M | -7.05M | -14.33M | -8.71M | -19.68M | -11.15M |
Balance Sheet | ||||||
| Total Assets | 28.36M | 24.82M | 29.68M | 35.54M | 47.69M | 42.72M |
| Cash, Cash Equivalents and Short-Term Investments | 2.10M | 1.57M | 1.62M | 1.66M | 10.58M | 16.84M |
| Total Debt | 14.40M | 16.19M | 13.97M | 9.86M | 14.30M | 13.98M |
| Total Liabilities | 23.83M | 24.54M | 23.50M | 19.90M | 25.60M | 22.93M |
| Stockholders Equity | 4.53M | 280.40K | 6.18M | 15.64M | 22.09M | 19.79M |
Cash Flow | ||||||
| Free Cash Flow | -2.02M | 1.12M | -2.84M | -5.37M | -10.68M | 1.58M |
| Operating Cash Flow | -1.51M | 1.14M | -2.81M | -2.34M | -8.24M | 3.42M |
| Investing Cash Flow | -1.76M | -1.42M | -2.22M | -4.10M | -14.44M | -6.64M |
| Financing Cash Flow | 3.57M | 322.62K | 4.99M | -2.37M | 16.52M | 18.16M |
VIQ Solutions Technical Analysis
VIQ Solutions Risk Analysis
VIQ Solutions Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | C$15.10M | 69.33 | 2.70% | ― | 4.42% | -53.42% | |
62 Neutral | C$20.20M | 81.15 | 446.71% | ― | 15.42% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | C$7.42M | -4.53 | -27.39% | ― | -31.03% | -67.36% | |
50 Neutral | $7.18M | -12.79 | -733.14% | ― | 14.65% | -304.76% | |
48 Neutral | C$7.73M | ― | ― | ― | ― | ― | |
43 Neutral | C$9.43M | -0.86 | -9999.00% | ― | -0.83% | -8.33% |
VIQ Solutions Corporate Events
VIQ Solutions announced the development of VIQ SmartAudit, an advanced verification and quality-assurance technology aimed at enhancing transcription accuracy across its business lines, including justice, insurance, and government sectors. Scheduled for release in mid-2026, SmartAudit is part of VIQ’s long-term strategy to improve verification and workflows, offering features like immediate quality scoring and verification indicators to ensure consistent quality standards. This initiative is expected to bolster customer confidence and operational efficiency, reinforcing VIQ’s position in the global market.
VIQ Solutions has announced the enhancement of its NetScribe platform, specifically the NetScribe Advanced Formatter, to improve court documentation workflows. This technology aims to address labor shortages and backlogs in court systems by enhancing efficiency and reducing production time through AI-assisted transcription and workflow automation. The company has reported operational improvements, including a 2% margin gain in the US, and highlights the adoption of this technology by a major Midwest court system, which has resulted in significant time savings per document. VIQ Solutions is also investing in innovation through an upsized private placement, indicating its commitment to transforming the court industry’s technological landscape.
VIQ Solutions reported a significant increase in Adjusted EBITDA by 72% and 115% for the three and nine months ended September 30, 2025, respectively, driven by improved operational efficiencies and leadership changes. The company integrated scalable operational architecture into its Australian operations, which is expected to contribute over $3 million annually, and secured its largest SaaS engagement, marking a strategic shift towards subscription-based revenue. Additionally, VIQ completed an oversubscribed private placement to fund growth and technology enhancements, aiming to further improve margins and support future acquisitions.
VIQ Solutions announced it will release its financial results for the third quarter of 2025 on November 12, 2025. This announcement underscores the company’s ongoing commitment to transparency and may impact stakeholder perceptions and market positioning as it highlights their performance and strategic direction in the competitive landscape of AI-driven digital solutions.
VIQ Solutions announced the closing of the second tranche of its upsized non-brokered private placement, raising approximately C$585,000, bringing total proceeds to over C$3 million. The funds will be used to drive technology innovations, improve margins, and support growth and acquisitions, reinforcing the company’s commitment to delivering superior service and value to its customers and shareholders.
VIQ Solutions has successfully closed a non-brokered private placement, raising approximately C$2 million through the issuance of over 10.75 million units. This insider-led transaction, considered a related party transaction, involved significant participation from company director Bradley Wells, who now holds a larger stake in the company. The move is expected to impact the company’s financial standing and insider ownership structure, potentially influencing its strategic direction and stakeholder interests.
VIQ Solutions announced a non-brokered private placement offering of units priced at C$0.186 each, aiming to raise up to $2 million. The proceeds will be used for working capital and general corporate purposes, with insiders expected to subscribe for approximately 10.2 million units, making it a related party transaction. The offering is subject to TSXV approval and is expected to close around October 27, 2025.
VIQ Solutions announced its transition from the Toronto Stock Exchange to the TSX Venture Exchange, effective October 21, 2025. This strategic move is expected to optimize costs and provide access to additional financing options, aligning with the company’s productivity and margin improvement initiatives. The transition, which did not require shareholder approval, is anticipated to reduce legal, compliance, and financial reporting expenses, thereby strengthening VIQ’s operational efficiency and market positioning.
VIQ Solutions has announced its decision to voluntarily delist from the Toronto Stock Exchange (TSX) and list on the TSX Venture Exchange (TSXV), a move deemed beneficial by the company’s management and Board of Directors. This strategic transition, expected to occur around October 20-21, 2025, is driven by considerations such as cost efficiency, market capitalization, and financing opportunities associated with the TSXV, while maintaining its trading symbol ‘VQS’. This shift is expected to align better with the company’s current market position and operational goals, with no required action from shareholders.