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topicus.com Constellation Software Inc. and Topicus.Com Inc. Announce Results for Topicus.com Inc. for the Second Quarter Ended June 30 , 2021 TORONTO , Aug. 04 , 2021 ( GLOBE NEWSWIRE ) -- Topicus.com Inc. ( TSXV : TOI ) in a joint release with Constellation Software Inc. ( TSX : CSU ) today announced financial results for Topicus.com Inc. ( " Topicus " or the " Company " ) for the second quarter ended June 30 , 2021. Please note that all amounts referred to in this press release are in Euros unless otherwise stated . The following press release should be read in conjunction with the Company's Unaudited Condensed Consolidated Interim Financial Statements for the three and six months ended June 30 , 2021 and the accompanying notes , our Management Discussion and Analysis for the three and six months ended June 30 , 2021 and the Annual Consolidated Financial Statements of Constellation Software Netherlands Holding Cooperatief U.A. ( the “ Topicus Coop " or " CSNH " ) for the year ended December 31 , 2020 , which we prepared in accordance with International Financial Reporting Standards ( " IFRS " ) and the Company's annual Management's Discussion and Analysis for the year ended December 31 , 2020 , which can be found on SEDAR at www.sedar.com and on Topicus.com Inc.'s website www.topicus.com . Additional information about Topicus.com Inc. is also available on SEDAR at www.sedar.com . Q2 2021 Headlines : • Revenue increased 54 % ( 8 % organic growth ) to € 178.2 million compared to € 115.6 million in Q2 2020 . • A € 154.6 million non - cash gain related to the decrease in fair value of redeemable preferred securities was incurred in the quarter . The fair value of the preferred securities was primarily dependent on the price movement of Topicus ' Subordinate Voting Shares . • Net income increased to € 168.8 million ( € 0.11 on a diluted per share basis ) from € 14.1 million ( € 0.12 on a diluted per share basis ) in Q2 2020 primarily resulting from the € 154.6 million redeemable preferred securities gain . • A number of acquisitions were completed for aggregate cash consideration of € 5.2 million ( which includes acquired cash ) . Deferred payments associated with these acquisitions have an estimated value of € 1.1 million resulting in total consideration of € 6.4 million . • Cash flows from operations ( " CFO " ) decreased € 26.3 million to negative € 34.6 million compared to negative € 8.3 million in Q2 2020 . • Free cash flow available to shareholders ' ( " FCFA2S " ) decreased € 17.0 million to negative € 25.4 million compared to negative € 8.5 million in Q2 2020 . • The holders of the Topicus Coop Preference Units ( the " Preferred Securities " ) elected to convert their Preferred Securities into Topicus Coop Ordinary Units , which conversion will become effective on February 1 , 2022 . • Subsequent to June 30 , 2021 , the Company completed or entered into agreements to acquire a number of businesses for aggregate cash consideration of € 49.6 million . Deferred payments associated with these acquisitions have an estimated value of € 6.7 million resulting in total consideration of € 56.3 million . Total revenue for the quarter ended June 30 , 2021 was € 178.2 million , an increase of 54 % , or € 62.6 million , compared to € 115.6 million for the comparable period in 2020. For the first six months of 2021 total revenues were € 357.8 million , an increase of 52 % , or € 122.5 million , compared to € 235.4 million for the comparable period in 2020. The increase for both the three and six month periods compared to the same periods in the prior year is primarily attributable to growth from acquisitions as the Company experienced organic growth of 8 % and 7 % respectively . Net income for the quarter ended June 30 , 2021 was € 168.8 million compared to net income of € 14.1 million for the same period in 2020 primarily resulting from the € 154.6 million redeemable preferred securities income , € 163.6 million of which is non - cash related . On a per share basis , this translated into net income per basic share of € 2.97 and diluted share of € 0.11 in the quarter ended June 30 , 2021 compared to net income per basic share of € 0.24 and diluted share of € 0.12 for the same period in 2020. Diluted shares outstanding increased from 129.3 million to 129.8 million for the quarter ended June 30 , 2021 . For the six months ended June 30 , 2021 , net loss was € 2,267.4 million or a loss € 40.54 per basic and diluted share compared to income of € 31.6 million or € 0.53 per basic share and € 0.27 per diluted share for the same period in 2020 . For the quarter ended June 30 , 2021 , CFO were negative € 34.6 million compared to negative € 8.3 million for the same period in 2020. Many of the businesses invoice customers for annual software maintenance fees in Q1 each year resulting in a disproportionate amount of cash being received in the first quarter as compared to the remaining three quarters . For the six months ended June 30 , 2021 , CFO increased € 13.1 million to € 125.2 million compared to € 112.1 million for the same period in 2020 representing an increase of 12 % . For the quarter ended June 30 , 2021 , FCFA2S was negative € 25.4 million compared to negative € 8.5 million for the same period in 2020. For the six months ended June 30 , 2021 , FCFA2S decreased € 1.5 million to € 66.8 million compared to € 68.2 million for the same period in 2020 representing a decrease of 2 % . Forward Looking Statements Certain statements herein may be " forward looking " statements that involve known and unknown risks , uncertainties and other factors that may cause the actual results , performance or achievements of Topicus or the industry to be materially different from any future results , performance or achievements expressed or implied by such forward - looking statements . Forward