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topicus.com Constellation Software Inc. and Topicus.Com Inc. Announce Results for Topicus.com Inc. for the Third Quarter Ended September 30 , 2021 TORONTO , Nov. 03 , 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 third quarter ended September 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 nine months ended September 30 , 2021 and the accompanying notes , our Management Discussion and Analysis for the three and nine months ended September 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 . Q3 2021 Headlines : • Revenue increased 46 % ( 5 % organic growth ) to € 177.1 million compared to € 121.2 million in Q3 2020 . • Net income decreased to € 18.1 million ( € 0.09 on a diluted per share basis ) from € 19.3 million ( € 0.16 on a diluted per share basis ) in Q3 2020 . • A number of acquisitions were completed for aggregate cash consideration of € 13.2 million ( which includes acquired cash ) . Deferred payments associated with these acquisitions have an estimated value of € 3.0 million resulting in total consideration of € 16.2 million . • Cash flows from operations ( " CFO " ) decreased € 1.0 million to € 8.5 million compared to € 9.5 million in Q3 2020 . • Free cash flow available to shareholders ' ( " FCFA2S " ) decreased € 3.1 million to negative € 0.5 million compared to € 2.6 million in Q3 2020 . • Subsequent to September 30 , 2021 , the Company completed an agreement to acquire a business in the oil and gas vertical for aggregate cash consideration of US $ 85.3 million ( € 73.6 million ) on closing plus cash holdbacks of US $ 9.5 million ( € 8.2 million ) and contingent consideration with a maximum value of US $ 5.0 million ( € 4.3 million ) . The Company will have an equity interest of 60 % in the business . The remaining 40 % equity interest will be owned by another subsidiary of Constellation Software Inc. 1. See Non - IFRS measures . Total revenue for the quarter ended September 30 , 2021 was € 177.1 million , an increase of 46 % , or € 55.9 million , compared to € 121.2 million for the comparable period in 2020. For the first nine months of 2021 total revenues were € 535.0 million , an increase of 50 % , or € 178.4 million , compared to € 356.6 million for the comparable period in 2020. The increase for both the three and nine 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 5 % and 7 % respectively . Net income for the quarter ended September 30 , 2021 was € 18.1 million compared to net income of € 19.3 million for the same period in 2020. On a per share basis , this translated into net income per basic and diluted share of € 0.09 in the quarter ended September 30 , 2021 compared to net income per basic share of € 0.33 and diluted share of € 0.16 for the same period in 2020. For the nine months ended September 30 , 2021 , net loss was € 2,249.3 million or a loss € 32.78 per basic and diluted share compared to income of € 50.8 million or € 0.86 per basic share and € 0.43 per diluted share for the same period in 2020 . For the quarter ended September 30 , 2021 , CFO were € 8.5 million compared to € 9.5 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 nine months ended September 30 , 2021 , CFO increased € 12.1 million to € 133.7 million compared to € 121.6 million for the same period in 2020 representing an increase of 10 % . For the quarter ended September 30 , 2021 , FCFA2S was negative € 0.5 million compared to € 2.6 million for the same period in 2020. For the nine months ended September 30 , 2021 , FCFA2S decreased € 4.5 million to € 66.4 million compared to € 70.8 million for the same period in 2020 representing a decrease of 6 % . Members ' Equity of Topicus Coop and Share Capital of Topicus The Controlling / Non - Controlling interest ( " NCI " ) percentage attributable to the common equity holders is based on Topicus.com Inc.'s ownership in the Topicus Coop . Calculations as at September 30 , 2021 are as follows : Topicus.com Inc. 39,870,435 61.4 % Ordinary units in Topicus Coop 30.3 % Ordinary units in Topicus