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(All amounts in release are in Canadian dollars)

OTTAWA, August 10, 2022 – Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, today released its results for the third quarter ended June 30, 2022. Calian reports consolidated revenues of $150 million for its four operating segments, which is a 10% increase over the same quarter in the previous year.

Third quarter highlights:

  • Revenue of $150 million, a 10% increase over Q3 FY21
  • Gross margin of 30%, a new record for the Company and up from 25% in Q3 FY21
  • Adjusted EBITDA of $16.1 million, an 8% increase over Q3 FY21
  • Net cash up $10 million from the previous quarter on operating cash flow of $19.8 million
  • New contract signings of $190 million
  • Revenues outside Canada increased to 33% of total revenues

Access the full report on the Calian Financial Results web page.

Register for the conference call on Thursday, August 11, 2022, 8:30 a.m. Eastern Time

“Many of our concerted efforts to diversify our customer base beyond Canada and enter new markets with more differentiated offerings demonstrated some of their early returns,” said Kevin Ford, Calian CEO. “Our track record of deploying capital to drive long-term growth, margin expansion and profitability remains our focus. This quarter’s record results across revenues and margins only strengthens our position to continue on our various growth initiatives.”

The third quarter of 2022 carried on the Company’s continued growth through acquisition and margin expansion. Revenues year to date were $421 million compared to $390 million in FY21 and $309 million in FY20. Gross margins year to date were 28% compared to 24% in FY21 and 21% in FY20. The Company signed an additional $190 million in new contracts during the quarter and exited with a strong backlog of $1.3 billion.

“This was a strong quarter across many fronts. Our ability to continue to expand gross margins and EBITDA while maintaining top-line growth was impressive. We also continued our strong track record of converting this performance into cash flow,” said Patrick Houston, Calian Chief Financial Officer. “We posted operating cash flow of nearly $12 million and working capital contributed an additional $8 million in the quarter.”

“Our four piston segment model once again demonstrated the value of Calian’s diversity. While Advanced Technologies and Health faced some headwinds in year over year performance, our Learning and IT Cyber business units had strong performance to keep Calian group consolidated results on record pace,” said Kevin Ford. “We have adjusted our revenue guidance for the final quarter of our fiscal year to reflect timing around larger revenue opportunities in the Advanced Technologies segment and slower sales in Health as the industry rebounds from COVID, which has been offset by better margin performance across the business allowing us to maintain our EBITDA and net profit guidance.”


CAD '000s

  • Revenue: Low $560,000; High $585,000
  • Adjusted EBITDA: Low $61,000; High $65,500
  • Adjusted net profit: Low $44,000; High $48,000

About Calian

We keep the world moving forward. Calian® helps others communicate, innovate, learn, stay safe and lead healthy lives with confidence. Every day, our employees live our values of customer-commitment, integrity, innovation and teamwork to engineer reliable solutions that solve complex problems. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American and International markets. Visit to learn about innovative healthcare, communications, learning and cybersecurity solutions.

Product or service names mentioned herein may be the trademarks of their respective owners.

Media inquiries: [email protected] 613-599-8600 x 2298 Investor Relations inquiries: [email protected]


Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8

Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: [email protected]

Q3 2022 Calian Group Financial Statements


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