Earnings release
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IC Group Reports Q2 2026 Results; Revenue Up 26% Year-over-Year, Driven By 97% Organic Growth of Annual Recurring Revenue Toronto, Ontario--(Newsfile Corp. - August 26, 2026) - IC Group Holdings Inc. (TSXV: ICGH) ("IC Group" or the "Company"), a consumer engagement company driving commerce and data for global brands and professional sports teams, is pleased to announce its unaudited financial results for the three and six months ended June 30, 2026. All figures are reported in Canadian dollars unless otherwise stated. "Q2 2026 demonstrated continued execution across all three of IC Group's business segments, with 26% year-over-year revenue growth, Adjusted EBITDA of $0.67 million, up 345% vs. the prior year and meaningful new contract and partnership activity, including a Fortune 50 company contract renewal spanning 30 countries and a new three-year venue technology partnership," said Duncan McCready, CEO of IC Group. "With organic growth accounting for approximately 97% of Q2 revenue gains, Annual Recurring Revenue ("ARR") representing 67% of quarterly revenue, and platform investments in mobile messaging and live event engagement advancing on track, we are well-positioned to continue building on this momentum into 2027." Select Q2 2026 Highlights : Revenue for the second quarter of 2026 was $8.2 million, up 26% from $6.5 million in the same period of 2025. Approximately 97% of quarterly revenue growth was organic. Annual Recurring Revenue ("ARR") represented approximately 67% of total revenue in the second quarter of 2026, compared to 70% in the same period of 2025. Gross Profit increased 15% to $3.4 million, compared to $3.0 million in the same period of 2025. Gross Margin was 42%, compared to 46% in the same period of 2025. The slight decrease was driven primarily by margin compression in the IC Mobile segment from higher pass-through carrier costs, partially offset by margin expansion in IC Engage and the timing of recognition of annual profit commission revenue in the IC Insurance segment. Net loss improved to $0.11 million, compared to a net loss of $0.58 million in the same period of 2025. EBITDA increased to $0.51 million, compared to $0.03 million in the same period of 2025. Adjusted EBITDA increased 345% to $0.67 million, compared to $0.15 million in the same period of 2025, and was consistent with the first quarter of 2026. Year-to-date revenue increased 27% to $15.9 million, while year-to-date Adjusted EBITDA increased 303% to $1.35 million. Q2 2026 Segment Highlights: IC Engage Revenue increased 12% year-over-year to $3.3 million. Gross Profit increased 23% to $2.5 million, while Gross Margin expanded to 75% from 69%, reflecting improved utilization of technology personnel and lower fulfillment costs. Adjusted EBITDA increased 385% from $0.238 million to $1.154 million, demonstrating operating leverage in the Company's largest segment. During the quarter and as previously announced, the Company entered into an exclusive three-year partnership with a leading global venue technology provider and signed a renewal and expansion agreement with a longstanding Fortune 50 technology client. Refer to news released July 23, 2026 and July 8, 2026, respectively. IC Mobile
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Revenue increased 25% year-over-year to $3.9 million, driven by organic growth in messaging volumes and carrier rate increases passed through to customers. Gross Margin was 10%, compared to 22% in the same period of 2025, reflecting a higher mix of wholesale traffic, industry-wide carrier price increases not fully recovered in customer pricing during the quarter, and higher platform-related costs during the gateway transition. Adjusted EBITDA was ($0.19 million) vs. $0.14 in the prior year due to the lower gross margin described above. As previously reported on April 24, 2026, the division secured a new enterprise messaging agreement expected to increase platform throughput by up to 120 million messages and expand the Company's annual recurring revenue base by up to $1 million. IC Insurance Revenue increased 147% year-over-year to $0.90 million, supported by new business, expanded underwriting authority, the Players Health acquisition, and the timing of recognition of annual profit commission revenue. Gross Profit increased 119% to $0.56 million, while Gross Margin was 62% compared to 70% in the prior-year period due to higher brokerage commissions on increased premium volume. The segment generated operating income of $0.13 million, compared to an operating loss of $0.14 million in the same period of 2025. The Company continued to expand its underwriting capabilities and product offerings supporting the live sports and entertainment market. The Company's unaudited condensed interim consolidated financial statements and management's discussion and analysis (MD&A) for the three and six months ended June 30, 2026 are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the IC Group website at www.icgroupinc.com/investor-relations . Investor Webinar 10:00 AM ET (7:00 AM PT) on Thursday, August 27, 2026 IC Group invites shareholders, analysts, investors, media representatives, and other stakeholders to attend the webinar, where Duncan McCready, Chief Executive Officer, and John Penhale, Chief Financial Officer, will review Q2 2026 results, followed by a question-and-answer session. Questions can be submitted during the session or in advance to deborah@adcap.ca . Register here: https://us02web.zoom.us/webinar/register/WN_0e9sw9SkSKCzhExZcyqOaw A recording of the webinar and supporting materials will be made available in the Investor section of the Company's website at: https://www.icgroupinc.com/investor-relations/ . About IC Group Holdings Inc. IC Group (TSXV: ICGH) is a consumer engagement company driving commerce and data for global brands and professional sports teams across live events, digital ecosystems, and mobile channels. Operating at the intersection of marketing, technology, and commerce, we simplify the complexities of modern consumer engagement for customers on a global scale. For more information regarding IC Group, please contact: Duncan McCready CEO and Director duncan.mccready@icgroupinc.com (204) 487-5000
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Deborah Honig Investor Relations and Communications deborah@adcap.ca (647) 203-8793 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Non-IFRS Measures There are measures included in this news release that do not have a standardized meaning under International Financial Reporting Standards (IFRS) and therefore may not be comparable to similarly titled measures and metrics presented by other publicly traded companies. The Company includes these measures because it believes certain investors use them as a means of assessing financial performance. Adjusted EBITDA and Annual Recurring Revenue ("ARR") are financial measures that do not have standardized meanings under IFRS. Adjusted EBITDA refers to earnings before interest, taxes, depreciation, amortization, stock-based compensation, one-time transaction expenses and financing costs. ARR refers to the Company's expected yearly revenue from recurring transactional, service, license, SaaS or subscription fees. We prepare and release quarterly unaudited and annual audited financial statements in accordance with IFRS. We also disclose and discuss certain non-IFRS financial information used to evaluate our performance in this and other earnings releases and investor conference calls as a complement to results provided in accordance with IFRS. We believe that current shareholders and potential investors in the Company use non-IFRS financial measures, such as Adjusted EBITDA and ARR, in making investment decisions about the Company and measuring its operational results. Management believes that investors and financial analysts measure our business on the same basis, and we are providing Adjusted EBITDA and ARR as financial metrics to assist in this evaluation and to provide a higher level of transparency into how we measure our own business. Adjusted EBITDA is more fully defined and discussed, and a reconciliation to IFRS financial measures is provided, in the Management's Discussion and Analysis ("MD&A"). CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the business of IC Group, the Company's ability to offer platforms for brands to connect with consumers, the Company's ability to diversify its revenue base, the Company's ability to grow IC Engage, IC Mobile and IC Insurance, and the expected benefits of pricing adjustments and the migration to an enhanced messaging platform. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. IC Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311685