VIQ Solutions Reports Financial Results for the Three and Nine Months Ended September 30, 2026

(TSXV: VQS) VIQ Solutions Inc. announced financial results for the three and nine months ended September 30, 2026. The company reported revenue of $5.2 million for the three months ended September 30, 2026, representing a 1% increase from the same period in the prior year, primarily due to higher software license sales. Gross margin for the quarter was 70.0%, up from 65.5% in the prior year, attributed to higher margin sales and productivity gains. Adjusted EBITDA for the quarter was $1.4 million, a 64% increase from the same period in the prior year, marking the tenth consecutive quarter of positive Adjusted EBITDA. Adjusted operating loss for the quarter was $11,000, compared to a $2.2 million loss in the same period of the prior year. For the nine months ended September 30, 2026, revenue was $15.2 million, flat compared to the prior year. Gross margin for the nine months was 66.9%, up from 65.9% in the prior year. Adjusted EBITDA for the nine months was $3.2 million, an increase of $1.0 million or 46% from the prior year, reflecting sustained cost discipline and efficiency gains. Adjusted operating loss for the nine months was $1.2 million, compared to $4.3 million in the prior year. VIQ's Australian division was placed into voluntary administration in March 2026, and after an unsuccessful sale or recapitalization process, VIQ Australia ceased operations on July 17, 2026. On August 5, 2026, administrators were appointed as liquidators of VIQ Australia, with liquidation expected to complete within six to eight months. Management is now focused on growing operations in North America and the United Kingdom, both organically and through strategic acquisitions. The company has partnered with Canadian venture studio AXL to introduce a speaker identification breakthrough with 97% to 99% accuracy in multi-speaker recordings. VIQ also launched NetScribe® Live, a recording and streaming platform for recorded proceedings. The company is issuing restricted share units (RSUs) covering 1,500,000 common shares under its omnibus equity incentive plan to certain insiders, with all RSUs vesting after one year from the grant date. As of September 30, 2026, cash was $3,036,367, trade and other receivables were $2,301,113, inventories were $29,874, and prepaid expenses and deposits were $537,074. Total assets were $14,664,903, and total liabilities were $29,448,944. Capital stock was $79,106,353, contributed surplus was $10,370,909, accumulated other comprehensive loss was $(2,637,347), and deficit was $(101,623,956), resulting in total shareholders' deficiency of $(14,784,041). For the three months ended September 30, 2026, cost of sales was $1,566,290, gross profit was $3,649,870, selling and administrative expenses were $2,203,293, research and development expenses were $33,816, stock-based compensation was $71,196, depreciation was $7,790, amortization was $250,281, interest expense was $473,092, accretion and other financing costs were $572,154, restructuring costs were $104,749, and net loss from continuing operations was $(11,447). Net loss from discontinued operations was $(4,165,375), resulting in a total net loss for the period of $(4,176,822). Weighted average common shares outstanding for the quarter were 70,516,135. Adjusted EBITDA for the three months was $1,412,761, and for the nine months was $3,230,604. Adjusted operating loss for the three months was $11,447, and for the nine months was $1,200,184. The company’s financial statements and MD&A for the period are available on SEDAR+.

VIQ Solutions Announces Client Contract Extensions and an Upcoming Product Release

(TSXV: VQS) VIQ Solutions Inc. announced the extension of two multi-year, multi-million-dollar client contracts in the USA and UK business units. The first extension, with a Media client, pushes the next renewal date out to Q2 2029 and represents approximately US $1.6 million in annual revenue. The second, with a UK Government client, pushes the next renewal to Q3 2028 and represents approximately US $800,000 in annual revenue. The company has also successfully renewed a number of client contracts in courts, law enforcement and other government agencies in the USA. VIQ Solutions Inc. has issued stock options and restricted share units covering a total of 2,010,000 common shares, including a grant of 300,000 stock options and 1,300,000 RSUs to certain officers and directors. All stock options will vest between the grant date and October 31, 2026, and all RSUs will vest following the one-year anniversary of the grant date. The company projects the upcoming release of a new approach to audio capture, which will bring together resilient recording, streaming transcription and translation, and secure remote access in a single connected experience.