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Altus Group Altus Group Reports Third Quarter 2021 Financial Results Altus Analytics Posts 32 % Topline and 82 % Bookings Growth TORONTO ( November 11 , 2021 ) - Altus Group Limited ( " Altus Group " or " the Company " ) ( TSX : AIF ) , a leading provider of software , data solutions and independent advisory services to the global commercial real estate industry , announced today its financial and operating results for the third quarter ended September 30 , 2021 . Unless otherwise indicated , all amounts are in Canadian dollars and percentages are in comparison to the same period in 2020. Non - IFRS measures and Altus Analytics selected metrics are defined at the end of this press release . Summary : • • • • • • • • • • • • • Consolidated revenues were $ 151.8 million , up 12.5 % ( 15.5 % on a constant currency basis ) . Consolidated profit from continuing operations , in accordance with IFRS , was $ ( 0.3 ) million , down from $ 9.3 million . Consolidated earnings per share from continuing operations , in accordance with IFRS , was $ ( 0.01 ) per share basic and diluted , compared to $ 0.23 per share basic and $ 0.22 per share diluted . Consolidated Adjusted EBITDA was $ 24.4 million , up 1.5 % ( 5.0 % on a constant currency basis ) . Adjusted EPS was $ 0.39 down 2.5 % from $ 0.40 . Altus Analytics revenues were $ 65.1 million , up 32.4 % ( 38.5 % on a constant currency basis ) , of which Over Time revenues were $ 55.1 million , up 33.2 % ( 38.2 % on a constant currency basis ) , and Adjusted EBITDA was $ 11.7 million , up 22.3 % ( 29.2 % on a constant currency basis ) . Altus Analytics Bookings totaled $ 20.5 million , up 81.6 % ( 88.7 % on a constant currency basis ) , of which organic growth in Bookings was 70.0 % ( 77.0 % on a constant currency basis ) . CRE Consulting revenues were $ 86.8 million , up 1.1 % ( 2.3 % on a constant currency basis ) and Adjusted EBITDA was $ 22.5 million , up 1.4 % ( 2.3 % on a constant currency basis ) reflecting revenue variability at its Property Tax business . Subsequent to quarter end on October 4 , Altus completed a $ 172.5 million equity financing , including the issuance of approximately 2.8 million shares priced at $ 62.00 per common share . Subsequent to quarter end on November 4 , Altus further amended its bank credit facilities to increase borrowing capacity to $ 400 million , with certain provisions to further increase the limit to $ 450 million . Subsequent to quarter end on November 11 , Altus announced the strategic acquisition of Scryer , Inc. ( dba Reonomy ) ( " Reonomy " ) for US $ 201.5 million ( approximately C $ 249.5 million ) ( on a cash - free / debt- free basis ) funded by cash on hand and borrowings under its credit facilities , subject to adjustments . The acquisition will strengthen the Company's CRE data and analytics capabilities and strategically position Altus for accelerated transformative innovation in Al predictive data analytics . Full year 2021 consolidated revenue guidance increased to $ 621 – $ 626 million , while Adjusted EBITDA guidance was updated to $ 105 - $ 110 million . At the end of the quarter Bank debt was $ 246.9 million ( representing a funded debt to EBITDA leverage ratio of 2.05 times ) and cash and cash equivalents was $ 66.4 million . Factoring in the acquisition of Reonomy , funded debt to EBITDA leverage is expected to increase to approximately 3.0x . altusgroup.com