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Q4 Inc. Announces Third Quarter 2021 Results Company delivers strong revenue growth and significant gross margin expansion TORONTO -- ( BUSINESS WIRE ) -- November 10 , 2021 -- Q4 Inc. ( TSX : QFOR ) ( “ Q4 ” or the " Company " ) , a leading capital markets communications platform , today announced its financial results for the three- and nine - month periods ended September 30 , 2021. All amounts are expressed in US dollars unless otherwise stated . Q4's capital markets communication platform connects public companies , the buy - side and sell- side across their most critical workflows , namely investor relations , corporate access , research and deal management . The Company powers the capital markets investor relations programs of 2,600 public companies ( including customers in the Company's backlog ) , including more than 50 % of the S & P 500. Q4 also hosts over 13 million investors and sell - side analysts on its platform monthly to learn more about the companies in which they are invested . With this breadth of scale , Q4 has amassed vast amounts of data yielding proprietary insights into the behavior of capital markets participants . Third Quarter 2021 Financial Highlights • • • • • Delivered revenue of $ 13.0 million , an increase of 30 % from the comparative period in the prior year Drove annual recurring revenue as of September 30 , 2021 to $ 50.3 million , increasing 24.8 % year over year Expanded gross profit margins by 380 basis points year over year to 56.9 % Adjusted EBITDA² loss of $ 3.3 million Net loss of $ 4.7 million , or $ 0.43 per share Positive cash flow generated from operating activities of $ 2.0 million for the three months ended September 30 , 2021 Third Quarter and Subsequent to Quarter - End Operational Highlights • • • Added 145 new clients in the quarter , now totaling 2,600 customers ( including customers in the Company's backlog ) compared to 2,234 customers from the comparative period in the prior year Completed successful initial public offering ( “ IPO ” ) on October 29 , 2021 , raising gross proceeds of approximately C $ 100 million to fund our strategic initiatives Launched several new products and services including the Q4 Capital Markets Event Platform for Investor conferences ; Q4 Virtual Events Platform for Earnings ; and , ESG suite of offerings Renewed 3 - year partnership with New York Stock Exchange and integrated Business Wire's innovative NX technology into the Q4 platform