CALGARY, Alberta, Aug. 27, 2025 (GLOBE NEWSWIRE) — Quorum Information Technologies Inc. (TSX-V: 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% | $9,689,201 | $19,854,810 | 2% | $19,399,007 | |
| Gross Margin | $5,036,271 | 2% | $4,927,762 | $9,861,577 | (2%) | $10,013,243 | |
| Gross Margin % | 49% | 50% | 48% | 50% | |||
| Net Income per Share | $0.005 | $0.005 | $0.006 | $0.021 | |||
| Net Income2 | $395,377 | 2% | $388,966 | $477,910 | (70%) | $1,512,887 | |
| Adjusted EBITDA | $1,812,331 | (7%) | $1,951,742 | $3,334,966 | (19%) | $4,093,437 | |
| Adjusted EBITDA Margin | 18% | 20% | 15% | 20% | |||
| Cash EBITDA3 | $1,369,014 | 3% | $1,331,085 | $2,389,642 | (11%) | $2,681,251 | |
| Cash EBITDA Margin | 13% | 13% | 12% | 13% |
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1 Adjusted EBITDA (non-GAAP) – Net income (loss) before interest and financing costs, taxes, depreciation, amortization, stock-based compensation, foreign exchange gains and losses, impairment, gain on lease termination, one-time acquisition-related expenses and restructuring fees.
2 Net income for both Q2 2025 and YTD 2025 includes a gain on lease termination of $0.3M due to the cancellation of leased office space.
3 Cash EBITDA (non-GAAP) – Adjusted EBITDA less stock-based compensation, one-time acquisition-related expenses, repayment of lease liability, purchase of property and equipment and software development costs.
Second Quarter Results
- Total revenue increased by 3% to $10.3 million in Q2 2025 compared to Q2 2024.
- SaaS revenue increased by 1% to $7.3 million in Q2 2025 compared to Q2 2024.
- BDC revenue increased by 11% to $2.7 million in Q2 2025 compared to Q2 2024.
- Gross margin increased by 2% to $5.0 million in Q2 2025 compared to Q2 2024.
- Adjusted EBITDA was $1.8 million in Q2 2025, a decrease of $0.1 million compared to Q2 2024.
- Cash EBITDA increased by 3% to $1.4 million in Q2 2025 compared to Q2 2024.
Quorum Q2 2025 Results Conference Call Details and Investor Presentation
Maury Marks, President and Chief Executive Officer and Marilyn Bown, Chief Financial Officer will present the Q2 2025 Results at a conference call with concurrent audio webcast, scheduled for:
An updated Investor Presentation, replay of the results conference call, and transcripts of the conference call, will also be available at http://www.QuorumInformationSystems.com.
About Quorum Information Technologies Inc.
Quorum is 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, including:
- Quorum’s Dealership Management System (DMS), which automates, integrates, and streamlines key processes across departments in a dealership, and emphasizes revenue generation and customer satisfaction.
- DealerMine CRM, a sales and service Customer Relationship Management (“CRM”) system and set of Business Development Centre services that drives revenue into the critical sales and service departments in a dealership.
- Autovance, a modern retailing platform that helps dealerships attract more business through Digital Retailing, improve in-store profits and closing rates through its desking tool and maximize their efficiency and Customer Satisfaction Index through Autovance’s F&I menu solution.
- Accessible Accessories, a digital retailing platform that allows franchised dealerships to efficiently increase their vehicle accessories revenue.
- VINN Automotive, a premier automotive marketplace that streamlines the vehicle research and purchase process for vehicle shoppers while helping retailers sell more efficiently.
Contacts:
Maury Marks
President and Chief Executive Officer
403-777-0036
Maury.Marks@QuorumInfoTech.com
Marilyn Bown
Chief Financial Officer
403-777-0036
Marilyn.Bown@QuorumInfoTech.com
Forward-Looking Information
This press release may contain certain forward-looking statements and forward-looking information (“forward-looking information”) within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “expect”, “may”, “will”, “project”, “should” or similar words suggesting future outcomes. Quorum believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Quorum’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking information.
Quorum has filed its Q2 2025 unaudited condensed interim consolidated financial statements and notes thereto as at and for the six months ended June 30, 2025, and accompanying management and discussion and analysis in accordance with National Instrument 51-102 – Continuous Disclosure Obligations adopted by the Canadian securities regulatory authorities.
Quorum Information Technologies Inc. is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS. For additional information please go to http://www.QuorumInformationSystems.com.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.
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