Tecsys Inc., an industry-leading supply chain management SaaS company, announced its results for the first quarter of fiscal 2025, ended July 31, 2024. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS).
“We kicked off fiscal 2025 with solid momentum, setting a positive tone for the year ahead,” said Peter Brereton, president and CEO at Tecsys. “Our continued SaaS performance is supported by the strength of our team and the impact of our partners, together driving growth in a highly engaged market. The supply chain market is on the move, and we like our competitive position. We are confident in our ability to build on this strong start.”
Mark Bentler, chief financial officer of Tecsys Inc., added, “Our Q1 fiscal 2025 financial performance showcases 57% SaaS bookings growth, 40% SaaS RPO growth and 33% SaaS revenue growth compared to the same quarter last year and we are pleased that our underlying SaaS margins continue to trend positively.”
First Quarter Highlights:
- SaaS revenue increased by 33% to $15.3 million, up from $11.5 million in Q1 2024.
- SaaS subscription bookingsi (measured on an ARRi basis) increased by 57% to $3.0 million, compared to $1.9 million in the first quarter of fiscal 2024.
- SaaS Remaining Performance Obligation (RPOi) increased by 40% to $194.9 million at July 31, 2024, up from $139.4 million at the same time last year.
- Total revenue increased to $42.3 million compared to $42.0 million in Q1 2024.
- Net profit was $0.8 million or $0.05 per share on a fully diluted basis in Q1 2025, compared to $1.2 million or $0.08 per share for the same period in fiscal 2024.
- Adjusted EBITDAii was $2.6 million compared to $3.2 million reported in Q1 last year.
- In the first quarter of fiscal 2025, Tecsys acquired 59,600 of its outstanding common shares for approximately $2.2 million as part of its ongoing Normal Course Issuer Bid.
On September 5, 2024, the Company declared a quarterly dividend of $0.08 per share to be paid on October 4, 2024 to shareholders of record on September 20, 2024.
Pursuant to the Canadian Income Tax Act, dividends paid by the Company to Canadian residents are considered to be “eligible” dividends.
Q1 2025 Financial Results Conference Call
Date: September 6, 2024
Time: 8:30 a.m. ET
Phone number: 800-836-8184 or 646-357-8785
The call can be replayed until September 13, 2024, by calling:
888-660-6345 or 646-517-4150 (access code: 81086#)
i See Key Performance Indicators in Management’s Discussion and Analysis of the Q1 2025 Financial Statements.
ii See Non-IFRS Performance Measures in Management’s Discussion and Analysis of the Q1 2025 Financial Statements.
