TORONTO, Aug. 05, 2026 (GLOBE NEWSWIRE) — Topicus.com I c. (TSXV:TOI) i a joi t elease with Co stellatio Softwa e I c. (TSX:CSU) today a ou ced fi a cial esults fo Topicus.com I c. (“Topicus” o the “Compa y”) fo the seco d qua te e ded Ju e 30, 2026. Please ote that all amou ts efe ed to i this p ess elease a e i Eu os u less othe wise stated.
The followi g p ess elease should be ead i co ju ctio with the Compa y’s U audited Co de sed Co solidated I te im Fi a cial Stateme ts fo the th ee a d six mo ths e ded Ju e 30, 2026 a d the accompa yi g otes, ou Ma ageme t’s Discussio a d A alysis fo the th ee a d six mo ths e ded Ju e 30, 2026 a d the A ual Co solidated Fi a cial Stateme ts of Topicus.com I c. fo the yea e ded Decembe 31, 2025, which we p epa ed i acco da ce with I te atio al Fi a cial Repo ti g Sta da ds (“IFRS”) a d the Compa y’s a ual Ma ageme t’s Discussio a d A alysis fo the yea e ded Decembe 31, 2025, which ca be fou d o SEDAR+ at www.seda plus.com a d o Topicus.com I c.’s website www.topicus.com. Additio al i fo matio about Topicus.com I c. is also available o SEDAR+ at www.seda plus.com.
- Reve ue i c eased 18% (4% o ga ic g owth) to €437.3 millio compa ed to €372.0 millio i Q2 2025.
- Net i come i c eased 14% to €47.3 millio (€0.36 o a diluted pe sha e basis) f om €41.5 millio (€0.31 o a diluted pe sha e basis).
- Acquisitio s we e completed fo agg egate cash co side atio of €31.2 millio (which i cludes acqui ed cash). Defe ed payme ts associated with these acquisitio s have a estimated value of €9.0 millio esulti g i total co side atio of €40.2 millio .
- Cash flows f om ope atio s (“CFO”) i c eased €2.3 millio to egative €12.7 millio compa ed to egative €14.9 millio i Q2 2025.
- F ee cash flow available to sha eholde s1 (“FCFA2S”) i c eased €31.3 millio to €14.6 millio compa ed to egative €16.7 millio i Q2 2025.
Total eve ue fo the qua te e ded Ju e 30, 2026 was €437.3 millio , a i c ease of 18%, o €65.2 millio , compa ed to €372.0 millio fo the compa able pe iod i 2025. Fo the fi st six mo ths of 2026 total eve ues we e €872.9 millio , a i c ease of 20%, o €145.3 millio , compa ed to €727.6 millio fo the compa able pe iod i 2025. The i c ease fo both the th ee a d six-mo th pe iods compa ed to the same pe iods i the p io yea is p ima ily att ibutable to g owth f om acquisitio s as the Compa y expe ie ced o ga ic g owth of 4% a d 5% espectively. O ga ic g owth is ot a sta da dized fi a cial measu e a d might ot be compa able to measu es disclosed by othe issue s.
Net i come fo the qua te e ded Ju e 30, 2026 i c eased €5.8 millio to €47.3 millio compa ed to €41.5 millio fo the same pe iod i 2025. O a pe sha e basis, this t a slated i to et i come pe basic a d diluted sha e of €0.36 i the qua te e ded Ju e 30, 2026 compa ed to €0.31 fo the same pe iod i 2025. Fo the six mo ths e ded Ju e 30, 2026 et i come dec eased €9.2 millio to €102.4 millio compa ed to €111.6 millio fo the same pe iod i 2025. O a pe sha e basis, this t a slated i to et i come pe basic a d diluted sha e of €0.77 i the six mo ths e ded Ju e 30, 2026 compa ed to €0.85 fo the same pe iod i 2025.
Fo the qua te e ded Ju e 30, 2026, CFO we e egative €12.7 millio compa ed to egative €14.9 millio fo the same pe iod i 2025. Ma y of the busi esses i voice custome s fo a ual softwa e mai te a ce fees i Q1 each yea esulti g i a disp opo tio ate amou t of cash bei g eceived i the fi st qua te as compa ed to the emai i g th ee qua te s. Fo the six mo ths e ded Ju e 30, 2026, CFO i c eased €11.3 millio to €267.8 millio compa ed to €256.5 millio fo the same pe iod i 2025 ep ese ti g a i c ease of 4%.
Fo the qua te e ded Ju e 30, 2026, FCFA2S i c eased €31.3 millio to €14.6 millio compa ed to egative €16.7 millio fo the same pe iod i 2025. Fo the six mo ths e ded Ju e 30, 2026, FCFA2S i c eased €35.1 millio to €180.1 millio compa ed to €145.0 millio fo the same pe iod i 2025 ep ese ti g a i c ease of 24%.
Ce tai stateme ts he ei may be “fo wa d looki g” stateme ts that i volve k ow a d u k ow isks, u ce tai ties a d othe facto s that may cause the actual esults, pe fo ma ce o achieveme ts of Topicus o the i dust y to be mate ially diffe e t f om a y futu e esults, pe fo ma ce o achieveme ts exp essed o implied by such fo wa d-looki g stateme ts. Fo wa d looki g stateme ts i volve sig ifica t isks a d u ce tai ties, should ot be ead as gua a tees of futu e pe fo ma ce o esults, a d will ot ecessa ily be accu ate i dicatio s of whethe o ot such esults will be achieved. A umbe of facto s could cause actual esults to va y sig ifica tly f om the esults discussed i the fo wa d looki g stateme ts. These fo wa d looki g stateme ts eflect cu e t assumptio s a d expectatio s ega di g futu e eve ts a d ope ati g pe fo ma ce a d a e made as of the date he eof a d Topicus assumes o obligatio , except as equi ed by law, to update a y fo wa d looki g stateme ts to eflect ew eve ts o ci cumsta ces.
F ee cash flow available to sha eholde s ‘‘FCFA2S’’ efe s to et cash flows f om ope ati g activities less i te est paid o lease obligatio s, i te est paid o othe facilities, c edit facility t a sactio costs, epayme ts of lease obligatio s, a d p ope ty a d equipme t pu chased, a d i cludes i te est a d divide ds eceived, a d the p oceeds f om sale of i te est ate caps. The po tio of this amou t applicable to o -co t olli g i te ests is the deducted. Topicus believes that FCFA2S is useful suppleme tal i fo matio as it p ovides a i dicatio of the u committed cash flow that is available to sha eholde s if Topicus does ot make a y acquisitio s, o i vestme ts, a d does ot epay a y debts. While Topicus could use the FCFA2S to pay divide ds o epu chase sha es, Topicus’ objective is to i vest all of ou FCFA2S i acquisitio s which meet Topicus’ hu dle ate.
FCFA2S is ot a ecog ized measu e u de IFRS a d, acco di gly, eade s a e cautio ed that FCFA2S should ot be co st ued as a alte ative to et cash flows f om ope ati g activities.
The followi g table eco ciles FCFA2S to et cash flows f om ope ati g activities:
| Th ee mo ths e ded Ju e 30, | Six mo ths e ded Ju e 30, | 2026 | 2025 | 2026 | 2025 | (€ i millio s) | (€ i millio s) | (12.7 | ) | (14.9 | ) | 267.8 | 256.5 | I te est paid o lease obligatio s | (0.9 | ) | (0.7 | ) | (1.7 | ) | (1.4 | ) | I te est paid o othe facilities | (10.3 | ) | (4.3 | ) | (14.0 | ) | (9.0 | ) | C edit facility t a sactio costs | – | (3.2 | ) | (0.3 | ) | (3.3 | ) | Payme ts of lease obligatio s | (8.7 | ) | (7.2 | ) | (17.1 | ) | (14.0 | ) | P ope ty a d equipme t pu chased | (3.1 | ) | (3.8 | ) | (6.3 | ) | (6.7 | ) | I te est a d divide ds eceived | 59.2 | 8.3 | 59.8 | 8.6 | 23.6 | (25.8 | ) | 288.2 | 230.7 | Less amou t att ibutable to | o -co t olli g i te ests | (9.0 | ) | 9.1 | (108.0 | ) | (85.7 | ) | F ee cash flow available to sha eholde s | 14.6 | (16.7 | ) | 180.1 | 145.0 | Due to ou di g, ce tai totals may ot foot. |
Topicus’ subo di ate voti g sha es a e listed o the To o to Ve tu e Stock Excha ge u de the symbol “TOI”. Topicus acqui es, ma ages a d builds ve tical ma ket softwa e busi esses.
Co stellatio ‘s commo sha es a e listed o the To o to Stock Excha ge u de the symbol “CSU”. Co stellatio acqui es, ma ages a d builds ve tical ma ket softwa e busi esses.
| Co de sed Co solidated I te im Stateme ts of Fi a cial Positio | (I thousa ds of eu os, except pe sha e amou ts. Due to ou di g, umbe s p ese ted may ot foot.) | U audited | Ju e 30, 2026 | Decembe 31, 2025 | Assets | Cu e t assets: | Cash | 323,269 | 326,686 | Accou ts eceivable | 180,168 | 175,613 | U billed eve ue | 73,800 | 53,909 | I ve to ies | 7,666 | 7,057 | Othe assets | 81,593 | 67,969 | 666,495 | 631,234 | No -cu e t assets: | P ope ty a d equipme t | 28,670 | 27,343 | Right of use assets | 91,900 | 96,656 | Defe ed i come taxes | 23,322 | 23,494 | I vestme ts i associates | 479,184 | 515,368 | Othe assets | 18,929 | 17,790 | I ta gible assets | 1,206,673 | 1,201,287 | 1,848,678 | 1,881,939 | Total assets | 2,515,173 | 2,513,173 | Liabilities a d Sha eholde s’ Equity | Cu e t liabilities: | Topicus Revolvi g C edit Facility a d cu e t po tio of Te m a d othe loa s | 116,536 | 345,324 | Accou ts payable a d acc ued liabilities | 321,965 | 365,229 | Defe ed eve ue | 374,144 | 207,140 | P ovisio s | 2,331 | 3,548 | Acquisitio holdback payables | 22,029 | 23,740 | Lease obligatio s | 31,630 | 30,915 | I come taxes payable | 35,292 | 39,201 | 903,929 | 1,015,098 | No -cu e t liabilities: | Te m a d othe loa s | 351,169 | 347,218 | Defe ed i come taxes | 187,557 | 188,313 | Acquisitio holdback payables | 41,393 | 40,133 | Lease obligatio s | 62,259 | 67,436 | Othe liabilities | 84,514 | 73,166 | 726,892 | 716,266 | Total liabilities | 1,630,821 | 1,731,363 | Sha eholde s’ Equity: | Capital stock | 39,412 | 39,412 | Accumulated othe comp ehe sive i come (loss) | 128,531 | 124,611 | Retai ed ea i gs | 374,653 | 309,801 | No -co t olli g i te ests | 341,756 | 307,985 | 884,352 | 781,810 | Total liabilities a d sha eholde s’ equity | 2,515,173 | 2,513,173 |
| Co de sed Co solidated I te im Stateme ts of I come (Loss) | (I thousa ds of eu os, except pe sha e amou ts. Due to ou di g, umbe s p ese ted may ot foot.) | U audited | Th ee mo ths e ded Ju e 30, | Six mo ths e ded Ju e 30, | 2026 | 2025 | 2026 | 2025 | Reve ue | Lice se | 9,854 | 10,435 | 21,372 | 19,831 | P ofessio al se vices | 98,845 | 88,218 | 197,066 | 170,523 | Ha dwa e a d othe | 11,209 | 8,471 | 21,094 | 15,790 | Mai te a ce a d othe ecu i g | 317,343 | 264,907 | 633,407 | 521,482 | 437,251 | 372,032 | 872,940 | 727,627 | Expe ses | Staff | 237,321 | 206,036 | 474,915 | 403,924 | Ha dwa e | 5,875 | 4,653 | 11,187 | 8,778 | Thi d pa ty lice se, mai te a ce a d p ofessio al se vices | 40,926 | 32,074 | 77,877 | 60,496 | T avel, telecommu icatio s, supplies, softwa e a d equipme t | 19,435 | 15,699 | 37,373 | 30,292 | P ofessio al fees | 9,040 | 7,134 | 16,125 | 14,742 | Othe , et | 9,529 | 8,298 | 16,563 | 16,882 | Dep eciatio | 11,717 | 9,977 | 23,373 | 19,353 | Amo tizatio of i ta gible assets | 46,238 | 39,294 | 90,659 | 76,146 | 380,083 | 323,164 | 748,071 | 630,612 | Impai me t of i ta gible a d othe o -fi a cial assets | 25 | – | 25 | – | Ba gai pu chase (gai ) | – | (154 | ) | – | (154 | ) | Fi a ce a d othe (i come) expe ses | (1,895 | ) | (9,234 | ) | 698 | (14,476 | ) | Sha e i et (i come) loss of equity i vestee | (10,116 | ) | (5 | ) | (19,212 | ) | (20 | ) | (I c ease) dec ease i the fai value of equity secu ities | – | – | – | (32,789 | ) | Fi a ce costs | 9,109 | 6,575 | 18,917 | 12,764 | (2,877 | ) | (2,818 | ) | 429 | (34,676 | ) | I come (loss) befo e i come taxes | 60,045 | 51,686 | 124,439 | 131,691 | Cu e t i come tax expe se ( ecove y) | 22,497 | 18,738 | 43,065 | 37,485 | Defe ed i come tax expe se ( ecove y) | (9,779 | ) | (8,536 | ) | (21,015 | ) | (17,407 | ) | I come tax expe se ( ecove y) | 12,718 | 10,202 | 22,051 | 20,079 | Net i come (loss) | 47,326 | 41,484 | 102,389 | 111,612 | Net i come (loss) att ibutable to: | Equity holde s of Topicus | 30,140 | 25,858 | 64,348 | 70,669 | No -co t olli g i te ests | 17,187 | 15,625 | 38,041 | 40,943 | Net i come (loss) | 47,326 | 41,484 | 102,389 | 111,612 | Weighted ave age sha es | Basic sha es outsta di g | 83,409,863 | 83,098,544 | 83,374,565 | 83,083,791 | Diluted sha es outsta di g | 129,841,819 | 129,841,819 | 129,841,819 | 129,841,819 | Ea i gs (loss) pe commo sha e of Topicus | Basic | 0.36 | 0.31 | 0.77 | 0.85 | Diluted | 0.36 | 0.31 | 0.77 | 0.85 |
| Co de sed Co solidated I te im Stateme ts of Comp ehe sive I come (Loss) | (I thousa ds of eu os, except pe sha e amou ts. Due to ou di g, umbe s p ese ted may ot foot.) | U audited | Th ee mo ths e ded Ju e 30, | Six mo ths e ded Ju e 30, | 2026 | 2025 | 2026 | 2025 | Net i come (loss) | 47,326 | 41,484 | 102,389 | 111,612 | Items that a e o may be eclassified subseque tly to et i come (loss): | Fo eig cu e cy t a slatio diffe e ces f om fo eig ope atio s a d othe | 2,118 | (9,671 | ) | 6,079 | (8,375 | ) | Items that will ot be eclassified to et i come (loss): | Cha ges i the fai value of equity i vestme ts at FVOCI | – | 82,236 | – | 193,333 | Othe comp ehe sive (loss) i come fo the pe iod, et of i come tax | 2,118 | 72,565 | 6,079 | 184,958 | Total comp ehe sive i come (loss) fo the pe iod | 49,444 | 114,049 | 108,468 | 296,570 | Total othe comp ehe sive i come (loss) att ibutable to: | Equity holde s of Topicus | 1,204 | 47,866 | 3,920 | 120,085 | No -co t olli g i te ests | 914 | 24,699 | 2,159 | 64,873 | Total othe comp ehe sive i come (loss) | 2,118 | 72,565 | 6,079 | 184,958 | Total comp ehe sive i come (loss) att ibutable to: | Equity holde s of Topicus | 31,344 | 73,724 | 68,268 | 190,754 | No -co t olli g i te ests | 18,101 | 40,325 | 40,200 | 105,816 | Total comp ehe sive i come (loss) | 49,444 | 114,049 | 108,468 | 296,570 |
| Co de sed Co solidated I te im Stateme t of Cha ges i Sha eholde s’ Equity (Deficie cy) | (I thousa ds of eu os, except pe sha e amou ts. Due to ou di g, umbe s p ese ted may ot foot.) | U audited | Six mo ths e ded Ju e 30, 2026 | Total comp ehe sive i come (loss) fo the pe iod: | Net i come (loss) | – | – | 64,348 | 64,348 | 38,041 | 102,389 | Fo eig cu e cy t a slatio diffe e ces f om | fo eig ope atio s a d othe , et of i come tax a d | cha ges i the fai value of equity i vestme ts at FVOCI | – | 3,920 | – | 3,920 | 2,159 | 6,079 | T a sactio s with ow e s, eco ded di ectly i equity | Othe moveme ts i o -co t olli g i te ests a d equity | – | – | (731 | ) | (731 | ) | (297 | ) | (1,028 | ) | Excha ge of Topicus Coop o di a y u its held by o -co t olli g i te ests to subo di ate voti g sha es of Topicus | – | – | 1,234 | 1,234 | (1,234 | ) | – | Divide ds paid to o -co t olli g i te ests | – | – | – | – | (4,898 | ) | (4,898 | ) |
| Co de sed Co solidated I te im Stateme t of Cha ges i Sha eholde s’ Equity (Deficie cy) | (I thousa ds of eu os, except pe sha e amou ts. Due to ou di g, umbe s p ese ted may ot foot.) | U audited | Six mo ths e ded Ju e 30, 2025 | Total comp ehe sive i come (loss) fo the pe iod: | Net i come (loss) | – | – | 70,669 | 70,669 | 40,943 | 111,612 | Othe comp ehe sive i come (loss) | Fo eig cu e cy t a slatio diffe e ces f om | fo eig ope atio s a d othe , et of i come tax | – | 120,085 | – | 120,085 | 64,873 | 184,958 | T a sactio s with ow e s, eco ded di ectly i equity | Othe moveme ts i o -co t olli g i te ests a d equity | – | (0 | ) | 12 | 12 | 18 | 31 | Excha ge of Topicus Coop o di a y u its held by o -co t olli g i te ests to subo di ate voti g sha es of Topicus | – | – | 1,633 | 1,633 | (1,633 | ) | – | Divide ds paid to o -co t olli g i te ests | – | – | – | – | (1,632 | ) | (1,632 | ) |
| Co de sed Co solidated I te im Stateme ts of Cash Flows | (I thousa ds of eu os, except pe sha e amou ts. Due to ou di g, umbe s p ese ted may ot foot.) | U audited | Th ee mo ths e ded Ju e 30, | Six mo ths e ded Ju e 30, | 2026 | 2025 | 2026 | 2025 | Cash flows f om (used i ) ope ati g activities: | Net i come (loss) | 47,326 | 41,484 | 102,389 | 111,612 | Adjustme ts fo : | Dep eciatio | 11,717 | 9,977 | 23,373 | 19,353 | Amo tizatio of i ta gible assets | 46,238 | 39,294 | 90,659 | 76,146 | Impai me t of i ta gible a d othe o -fi a cial assets | 25 | – | 25 | – | Ba gai pu chase (gai ) | – | (154 | ) | – | (154 | ) | Fi a ce a d othe expe ses (i come) | (1,895 | ) | (9,234 | ) | 698 | (14,476 | ) | Sha e i et (i come) loss of equity i vestee | (10,116 | ) | (5 | ) | (19,212 | ) | (20 | ) | (I c ease) dec ease i the fai value of equity secu ities | – | – | – | (32,789 | ) | Fi a ce costs | 9,109 | 6,575 | 18,917 | 12,764 | I come tax expe se ( ecove y) | 12,718 | 10,202 | 22,051 | 20,079 | Cha ge i o -cash ope ati g assets a d liabilities | exclusive of effects of busi ess combi atio s | (102,723 | ) | (97,574 | ) | 71,292 | 92,959 | T a sactio costs associated with equity secu ities classified as FVOCI | – | (0 | ) | – | (1,659 | ) | I come taxes (paid) eceived | (25,077 | ) | (15,508 | ) | (42,378 | ) | (27,311 | ) | Net cash flows f om (used i ) ope ati g activities | (12,676 | ) | (14,944 | ) | 267,814 | 256,503 | Cash flows f om (used i ) fi a ci g activities: | I te est paid o lease obligatio s | (857 | ) | (719 | ) | (1,729 | ) | (1,381 | ) | I te est paid o othe facilities | (10,264 | ) | (4,307 | ) | (14,000 | ) | (9,015 | ) | Net i c ease (dec ease) i Topicus Revolvi g C edit Facility | 20,000 | (115,000 | ) | (225,000 | ) | (85,000 | ) | P oceeds f om issua ce of Loa | – | 200,000 | – | 200,000 | P oceeds f om issua ce of te m a d othe loa s | – | 95,400 | 7,500 | 113,410 | I c ease (dec ease) i ba k i debted ess | (9,599 | ) | – | (3,936 | ) | – | Repayme ts of te m a d othe loa s | (2,866 | ) | (3,526 | ) | (10,295 | ) | (14,111 | ) | C edit facility t a sactio costs | – | (3,187 | ) | (312 | ) | (3,278 | ) | Payme ts of lease obligatio s | (8,680 | ) | (7,177 | ) | (17,054 | ) | (14,005 | ) | Divide ds paid to o -co t olli g i te ests | (1,447 | ) | (1,595 | ) | (4,898 | ) | (1,632 | ) | Net cash flows f om (used i ) i fi a ci g activities | (13,713 | ) | 159,890 | (269,723 | ) | 184,988 | Cash flows f om (used i ) i vesti g activities: | Acquisitio of busi esses | (31,223 | ) | (210,244 | ) | (46,251 | ) | (249,657 | ) | Cash obtai ed with acqui ed busi esses | 5,386 | 20,804 | 8,322 | 28,738 | Post-acquisitio settleme t payme ts, et of eceipts | (10,539 | ) | (2,935 | ) | (16,352 | ) | (9,233 | ) | Pu chases of othe i vestme ts | (271 | ) | – | (271 | ) | – | Pu chase of equity secu ities of Asseco Pola d S.A. | – | – | – | (167,977 | ) | (I c ease) dec ease i est icted cash | (196 | ) | 343 | (1,539 | ) | (82 | ) | I te est, divide ds a d othe p oceeds eceived, et of i come taxes paid | 59,222 | 8,302 | 59,794 | 8,557 | P ope ty a d equipme t pu chased | (3,104 | ) | (3,768 | ) | (6,340 | ) | (6,666 | ) | Net cash flows f om (used i ) i vesti g activities | 19,276 | (187,499 | ) | (2,637 | ) | (396,321 | ) | Effect of fo eig cu e cy o | cash a d cash equivale ts | (792 | ) | (4,500 | ) | 1,128 | (2,072 | ) | I c ease (dec ease) i cash | (7,905 | ) | (47,053 | ) | (3,418 | ) | 43,097 | Cash, begi i g of pe iod | 331,173 | 296,307 | 326,686 | 206,157 | Cash, e d of pe iod | 323,269 | 249,254 | 323,269 | 249,254 |
