Record revenues with 33% growth, coupled with Calian’s largest acquisition to date
OTTAWA, Wednesday, May 12, 2021 – Calian Group Ltd. (TSX:CGY), deliverer of trusted solutions across Advanced Technologies, Health, Learning & Information Technology segments, today released its quarterly results for the three-month period ended March 31, 2021.
Calian Group Ltd. (the “Company”) reported revenues for the quarter of $138 million, representing a 33% increase from the $104 million reported in the same quarter of the previous year.
Second quarter 2021 highlights:
- Record quarterly revenue of $138 million, an increase of 33%
- Record level of adjusted EBITDA (1) at $14.2 million for the quarter, an increase of 39%
- 78th consecutive profitable quarter
- New contract signings of $138 million in the quarter
- Dividend of $0.28 per share
“It is my pleasure to announce another record quarter for the Company with both revenue, and adjusted EBITDA at all-time highs,” said Kevin Ford, Calian CEO. “The performance of our Health segment was particularly impressive. We have seen increased demand across all of our Health services, and our team has been able to respond in short order, and deliver superior services in a very difficult environment.”
Adjusted EBITDA(1) for the second quarter was $14.2 million, an increase of 39% from $10.2 million in the same quarter of the previous year. Adjusted net profit,(1) which excludes non-cash items related to recent acquisitions, was $10.3 million for the quarter; which increased by 51% from the $6.8 million in the same period of the previous year.
"Our investments in organic revenue growth was evident with all four segments showing growth over the previous year. Our recent acquisitions in Advanced Technologies and Information Technology has contributed to our margin growth,” stated Patrick Houston, Calian CFO. “With the recent completion of our equity offering and our new debt facility, the Company is in excellent liquidity position to invest in our future growth.”
The Company closed the largest acquisition of its history in the quarter through Dapasoft Inc. This acquisition will facilitate Calian’s next chapter of growth and further expand its delivery of Healthcare, IT Services and Cybersecurity solutions to its clients.
“We had last updated our guidance in late February following the acquisition of Dapasoft Inc. We have maintained this guidance which would represent our fourth consecutive year of double digit revenue growth, and significantly higher EBITDA margins,” continued Ford. “I want to thank the Calian team for their continued service excellence and delivery in these trying times."
- Revenue: Low $476,000, High $516,000
- Adjusted EBITDA: Low $45,000, High $49,000
- Adjusted net profit: Low $29,350, High $32,650
- Anticipated weighted average shares outstanding: 10,650,000