TECSYS Inc. (TSX:TCS) Reports First Quarter Results for Fiscal 2025

2 min read | September 06, 2024 01:38 PM AEST | By Team Kalkine Media

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TECSYS Inc. (TSX:TCS) Reports First Quarter Results for Fiscal 2025 — Image source: Shutterstock

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TECSYS Inc. (TSX:TCS), a leading provider of supply chain management software-as-a-service (SaaS), has announced its financial results for the first quarter of fiscal 2025, which ended on July 31, 2024. All figures are reported in Canadian dollars and adhere to International Financial Reporting Standards (IFRS).

Peter Brereton, President and CEO of TECSYS, expressed enthusiasm about the company's performance, stating, "We kicked off fiscal 2025 with solid momentum, setting a positive tone for the year ahead. Our continued SaaS performance is supported by the strength of our team and the impact of our partners, driving growth in a highly engaged market. The supply chain market is evolving, and we are confident in our competitive position and ability to build on this strong start."

Mark Bentler, Chief Financial Officer, highlighted impressive growth metrics, "Our Q1 fiscal 2025 financial performance showcases a 57% increase in SaaS bookings, a 40% rise in SaaS Remaining Performance Obligation (RPO), and a 33% growth in SaaS revenue compared to the same quarter last year. 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 Bookings: Rose by 57% to $3.0 million, compared to $1.9 million in the first quarter of fiscal 2024.

- SaaS Remaining Performance Obligation (RPO): Expanded by 40% to $194.9 million at July 31, 2024, up from $139.4 million a year earlier.

- Total Revenue: Slightly increased to $42.3 million from $42.0 million in Q1 2024.

- Net Profit: Reported at $0.8 million or $0.05 per share on a fully diluted basis, compared to $1.2 million or $0.08 per share for the same period in fiscal 2024.

- Adjusted EBITDA: Came in at $2.6 million, down from $3.2 million reported in Q1 2024.

- Share Buyback: TECSYS acquired 59,600 of its outstanding common shares for approximately $2.2 million as part of its ongoing Normal Course Issuer Bid.

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