Quorum Announces Q2 2025 Results

CALGARY, Alberta, Aug. 27, 2025 (GLOBE NEWSWIRE) -- Quorum Information Technologies Inc. (TSXV:QIS) ("Quorum"), a North American SaaS Software and Services company providing essential enterprise solutions that automotive dealerships and Original Equipment Manufacturers ("OEMs") rely on for their operations, released its results today for the second quarter of 2025, ended June 30, 2025. Financial references are expressed in Canadian dollars unless otherwise indicated. Please refer to the MD&A and Financial Statements posted onto SEDAR related to non-IFRS measures and risk factors.

"I am delighted to announce that the Adjusted EBITDA1 improvement plan implemented in late Q1 2025 has resulted in Adjusted EBITDA increasing from $1.5 million in Q1 2025 to $1.8 million in Q2 2025," stated Maury Marks, President and CEO. "During Q2 2025, Quorum also delivered 3% organic growth in recurring revenue. We are also pleased to announce that during Q2 2025 we paid off our Cash Flow Loan component of the BDC Capital Loan Facility by paying down the final $0.8 million on that Loan."

"I would like to express my gratitude to our employees, whose efforts were crucial in delivering our Q2 2025 plan and solid quarterly results," said Mr. Marks. "Their efforts and our integrated suite of 13 essential software solutions and services are fundamental to our profitable growth strategy, as it facilitates product cross-selling and plays a critical role in driving the success of our dealerships, thereby increasing value for both Quorum and its customers."

Consolidated Results for Q2 2025

 

Q2 2025

%Change

       Q2 2024

 

YTD 2025

%Change

YTD 2024

Total Revenue

$10,279,565

3%

$9,950,948

 

$20,434,333

2%

$20,013,739

SaaS Revenue

$7,285,284

1%

$7,235,908

 

$14,517,674

1%

$14,432,144

BDC Revenue

$2,726,479

11%

$2,453,293

 

$5,337,136

7%

$4,966,863

Recurring Revenue

$10,011,763

3%