viaim and China Philharmonic Orchestra Co-Create 'Philharmonic Signature Sound' to Bring Concert Hall Acoustics to Everyday Listening
BEIJING, May 23, 2025 /CNW/ -- In a bold fusion of art and technology, AI audio brand viaim has teamed up with the China Philharmonic Orchestra to launch the "Philharmonic Signature Sound"—a professionally tuned acoustic system that brings the richness of live symphonic sound into everyday listening experiences. This marks the first collaboration of its kind between a leading symphony orchestra and a tech brand in the AI wearables space.
At the exclusive launch event held at Langyuan Station in Beijing, musicians from the China Philharmonic delivered live performances, including Liszt's Hungarian Dance, to demonstrate how subtle orchestral nuances—tone, clarity, and spatial dynamics—can be faithfully translated through viaim's sound engine. This effort marks a significant milestone in making classical audio aesthetics accessible to broader audiences.
"Today's audio market is drowning in sameness. Products are louder, not richer; clearer, not more human," said viaim co-founder Liu Da. "We want to change that. Through our partnership with one of China's most respected orchestras, we aim to give technology a soul—something that sings, not just sounds."
The Philharmonic Signature Sound was co-developed through a multi-phase process with direct orchestral involvement—from cavity design to tuning curve adjustments, driver material optimization, and spatial modeling. The result is a uniquely expressive sound signature that not only elevates classical music, but also enhances spoken-word clarity and emotional warmth in calls and meetings.
"A great AI headset must first be a great headset," added viaim CEO Shawn Ma. "True high fidelity isn't just about specs—it's about how it makes you feel. That's why we built this from the stage up, not the spec sheet down."
"For decades, classical music has belonged to concert halls and audiophiles," said Li Nan, President of the China Philharmonic Orchestra. "We believe it's time to make its warmth, depth, and emotional complexity part of everyday life."
The Philharmonic Signature Sound will debut in viaim's upcoming AI-powered earbud series, expected to launch in Q3 2025.
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"We are executing successfully in the current environment, delivering efficient growth and strengthening our fundamentals, as seen in our SaaS revenue growth and further improvements in gross margins and operating leverage this quarter," said John Baker, CEO of D2L. "As organizations navigate the macroeconomic volatility, our modern, AI-first learning platform is an important solution to enhance learner engagement, drive retention, and enable new learning modalities with greater efficiency. We remain focused on balancing near-term performance with strategic investments in platform innovation and market expansion, as we work to become the leader in targeted education markets globally and establish ourselves as the next-generation learning platform for corporate upskilling." First Quarter Fiscal 2026 Financial Highlights Total revenue of $52.8 million, up 9% from the same period in the prior year and Constant Currency Revenue2 increased by 11% to $53.6 million. Subscription and support revenue was $47.7 million, an increase of 11% over the same period of the prior year. Annual Recurring Revenue1 ("ARR") as at April 30, 2025 increased by 8% year-over-year, from $190.3 million to $206.2 million. Constant Currency Annual Recurring Revenue1 increased 9% to $206.8 million. Adjusted Gross Profit2 increased by 15% to $37.7 million (71.3% Adjusted Gross Margin2) from $32.8 million (67.7% Adjusted Gross Margin) in the same period of the prior year. Gross Profit increased by 13% to $37.0 million from $32.7 million in the same period of the prior year. Gross profit margin for subscription and support revenue increased to 75.2%, up 300 basis points from 72.2% in the same period of the prior year. Adjusted EBITDA2 increased to $9.3 million, up from $4.0 million for the comparative period in the prior year. Income for the period was $3.3 million, versus income of $0.6 million for the comparative period of the prior year. Cash flows used in operating activities was $1.9 million, versus $14.8 million of cash flows used in the same period in the prior year, and Free Cash Flow2 was negative $1.8 million, compared to Free Cash Flow of negative $15.0 million in the same period in the prior year. Cash flows from operations typically have a seasonal low in the first quarter each year and a seasonal high in the second quarter each year. Strong balance sheet at quarter end, with cash and cash equivalents of $92.5 million and no debt. During the quarter ended April 30, 2025, the Company repurchased and canceled 168,800 Subordinate Voting Shares under its normal course issuer bid ("NCIB"). 1 Refer to "Key Performance Indicators" section of this press release. 2 A non-IFRS financial measure or non-IFRS ratio. Refer to "Non IFRS Financial Measures" section of this press release. First Quarter Fiscal 2025 Financial Results – Selected Financial Measures(in thousands of U.S. dollars, except for percentages)Q1 2026 Q1 2025 Change Change $ $ $ % Subscription & Support Revenue 47,735 42,954 4,781 11.1 % Professional Services & Other Revenue 5,100 5,541 (441) (8.0 %) Total Revenue 52,835 48,495 4,340 8.9 %Constant Currency Revenue1 53,608 48,495 5,113 10.5 % Gross Profit 37,030 32,677 4,353 13.3 % Adjusted Gross Profit1 37,667 32,839 4,828 14.7 % Adjusted Gross Margin1 71.3 % 67.7 % Income for the period 3,268 572 2,696 471.3 % Adjusted EBITDA1 9,305 4,019 5,286 131.5 % Cash Flows from (used in) Operating Activities (1,856) (14,826) 12,970 87.5 % Free Cash Flow1 (1,841) (14,952) 13,111 87.7 % 1 A non-IFRS financial measure or non-IFRS ratio. Refer to the "Non-IFRS Financial Measures and Reconciliation of Non-IFRS Financial Measures" section of this press release for more details. First Quarter Business & Operating Highlights D2L continued to grow its customer base in education in North America, adding Knox College, LCI Education, and Tradechology Academy. D2L continued to grow its customer base in global education, adding University of Otago, Universidad de la Sabana, and HOGENT University of Applied Sciences and Arts. D2L expanded its corporate customer portfolio, adding The Institute of Electrical and Electronics Engineers (IEEE) Computer Society and Pantheon Academy. Named one of the World's Top EdTech Companies of 2025 by TIME and one of Canada's Best Diversity Employers of 2025. Named an Innovative AI Product in the 2025 Artificial Intelligence Excellence Awards and a winner in G2's 2025 Best Software Awards for Best Education Software Products and G2's 2025 Best Software Companies in Canada. D2L's Chief Learning Officer, Dr. Cristi Ford, was recognized as an ASU+GSV Leading Women in AI at the 2025 ASU+GSV Summit. D2L launched its expanded partner program to deepen collaboration and enhance integration with D2L Brightspace. Financial Outlook The Company is maintaining its previous financial guidance for the year ended January 31, 2026 as follows: Subscription and support revenue in the range of $194 million to $196 million, implying growth of 7-9% over Fiscal 2025, and 9-10% growth on a constant currency basis; Total revenue in the range of $219 million to $221 million, implying growth of 7-8% over Fiscal 2025, and 8-9% growth on a constant currency basis; and Adjusted EBITDA in the range of $32 million to $34 million, implying an Adjusted EBITDA margin of 15%. The Company presented a Medium Term Target Operating Model that it expects to achieve by Fiscal 2028 in the Company's Management's Discussion and Analysis ("MD&A") for the years ended January 31, 2025 and 2024 (the "Annual MD&A"). This Medium Term Target Operating Model remains unchanged as of April 30, 2025. For additional details on the Company's outlook and Medium Term Target Operating Model, including the principal underlying assumptions and risk factors regarding achievement, refer to the "Financial Outlook" section of the Company's Annual MD&A, as well as the "Forward-Looking Information" section therein and in the Company's MD&A for the three months ended April 30, 2025 (the "Interim MD&A"). Conference Call & Webcast D2L management will host a conference call on Wednesday, June 11, 2025 at 8:30 am ET to discuss its first quarter Fiscal 2026 financial results. Date:Wednesday, June 11, 2025 Time:8:30 am (ET) Dial in number:Canada/US: 1 (833) 470-1428 International: 1 (404) 975-4839 Access code: 016623Webcast:A live webcast will be available at The webcast will also be archived Forward-Looking Information This press release includes statements containing "forward-looking information" within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "budget", "scheduled", "estimates", "outlook", "target", "forecasts", "projection", "potential", "prospects", "strategy", "intends", "anticipates", "seek", "believes", "opportunity", "guidance", "aim", "goal" or variations of such words and phrases or statements that certain future conditions, actions, events or results "may", "could", "would", "should", "might", "will", "can", or negative versions thereof, "be taken", "occur", "continue" or "be achieved", and other similar expressions. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates and projections regarding future events or circumstances. This forward-looking information relates to the Company's future financial outlook and anticipated events or results and includes, but is not limited to, statements under the heading "Financial Outlook" and information regarding the Company's financial position, financial results, business strategy, performance, achievements, prospects, objectives, opportunities, business plans and growth strategies. Forward-looking information is based on certain assumptions, expectations and projections, and analyses made by the Company in light of management's experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, including the following: the Company's ability to win business from new customers and expand business from existing customers; the timing of new customer wins and expansion decisions by existing customers; the Company's ability to generate revenue and expand its business while controlling costs and expenses; the Company's ability to manage growth effectively; the Company's assumptions regarding the principal competitive factors in our markets; the Company's ability to hire and retain personnel effectively; the effects of foreign currency exchange rate fluctuations on our operations; the ability to seek out, enter into and successfully integrate acquisitions, including the acquisition of H5P Group AS ("H5P"); business and industry trends, including the success of current and future product development initiatives; positive social development and attitudes toward the pursuit of higher education; the Company's ability to maintain positive relationships with its customer base and strategic partners; the Company's ability to adapt and develop solutions that keep pace with continuing changes in technology, education and customer needs; the Company's ability to predict future learning trends and technology; the ability to patent new technologies and protect intellectual property rights; the Company's ability to comply with security, cybersecurity and accessibility laws, regulations and standards; the assumptions underlying the judgments and estimates impacting on financial statements; certain accounting matters, including the impact of changes in or the adoption of new accounting standards; the Company's ability to retain key personnel; the factors and assumptions discussed under the "Financial Outlook" section of the Annual MD&A and that the list of factors referenced in the following paragraph, collectively, do not have a material impact on the Company. Although the Company believes that the assumptions underlying such forward-looking information were reasonable when made, they are inherently uncertain and are subject to significant risks and uncertainties and may prove to be incorrect. The Company cautions investors that forward-looking information is not a guarantee of the future and that actual results may differ materially from those made in or suggested by the forward-looking information contained in this press release. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties and other factors, including but not limited to the risks identified herein, including "Summary of Factors Affecting Our Performance" of the Annual MD&A, or in the "Risk Factors" section of the Company's most recently filed annual information form, in each case filed under the Company's profile on SEDAR+ at If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking information prove incorrect, actual results might vary materially from those anticipated in the forward-looking information. Given these risks and uncertainties, investors are cautioned not to place undue reliance on forward-looking information, including any financial outlook. Any forward-looking information that is contained in this press release speaks only as of the date of such statement, and the Company undertakes no obligation to update any forward-looking information or to publicly announce the results of any revisions to any of those statements to reflect future events or developments, except as required by applicable securities laws. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data. About D2L Inc. (TSX: DTOL) D2L is transforming the way the world learns—helping learners of all ages achieve more than they dreamed possible. Working closely with customers all over the world, D2L is supporting millions of people learning online and in person. Our global workforce is dedicated to making the best learning products to leave the world better than they found it. Learn more at D2L Consolidated Interim Statements of Financial Position(In U.S. dollars) As at April 30, 2025 and January 31, 2025(Unaudited)April 30, 2025 January 31, 2025 Assets Current assets:Cash and cash equivalents $ 92,526,834 $ 99,184,514Trade and other receivables 24,372,457 26,430,586Uninvoiced revenue 2,969,131 2,756,998Prepaid expenses 7,789,390 7,564,837Deferred commissions 5,139,987 5,106,976 132,797,799 141,043,911 Non-current assets:Other receivables 400,458 422,589Prepaid expenses 314,523 308,235Deferred income taxes 15,872,360 18,115,730Right-of-use assets 8,026,078 7,450,545Property and equipment 7,049,725 7,125,272Deferred commissions 6,954,101 6,909,439Loan receivable from associate 9,295,669 9,123,399Intangible assets 17,852,622 17,135,529Goodwill 27,019,307 25,286,222Total assets $ 225,582,642 $ 232,920,871 Liabilities and Shareholders' EquityCurrent liabilities:Accounts payable and accrued liabilities $ 35,417,661 $ 30,504,085Deferred revenue 85,411,389 97,454,306Lease liabilities 1,545,432 1,201,604Contingent consideration 5,005,457 4,927,193 127,379,939 134,087,188 Non-current liabilities:Deferred income taxes 4,031,858 4,110,030Lease liabilities 10,391,849 9,977,941 14,423,707 14,087,971 141,803,646 148,175,159 Shareholders' equity:Share capital: 367,125,848 367,487,956Additional paid-in capital 45,380,347 48,263,266Accumulated other comprehensive loss (4,696,131) (7,456,599)Deficit (324,031,068) (323,548,911)83,778,996 84,745,712 Related party transactions Investment in associate Total liabilities and shareholders' equity $ 225,582,642 $ 232,920,871 D2L Consolidated Interim Statements of Comprehensive Income (Loss)(In U.S. dollars) For the three months ended April 30, 2025 and 2024(Unaudited)2025 2024Revenue:Subscription and support $ 47,735,572 $ 42,953,475Professional services and other 5,099,599 5,541,417 52,835,171 48,494,892 Cost of revenue:Subscription and support 11,840,420 11,946,610Professional services and other 3,964,545 3,870,868 15,804,965 15,817,478 Gross profit 37,030,206 32,677,414 Expenses:Sales and marketing 13,668,739 12,904,939Research and development 11,459,714 12,290,771General and administrative 8,386,362 8,099,431 33,514,815 33,295,141 Income (loss) from operations 3,515,391 (617,727) Interest and other income (expenses):Interest expense (220,129) (160,660)Interest income 717,052 1,084,045Other income 315,059 59,476Foreign exchange gain 1,536,516 230,781 2,348,498 1,213,642 Income before income taxes 5,863,889 595,915 Income taxes expense (recovery):Current 571,177 50,745Deferred 2,024,408 (27,096) 2,595,585 23,649 Income for the period 3,268,304 572,266 Other comprehensive gain (loss):Foreign currency translation gain (loss) 2,760,468 (795,690) Comprehensive income (loss) $ 6,028,772 $ (223,424) Earnings per share – basic $ 0.06 $ 0.01 Earnings per share – diluted 0.06 0.01Weighted average number of common shares – basic 54,689,330 54,015,602 Weighted average number of common shares – diluted 56,137,363 55,723,344D2L Consolidated Interim Statements of Changes in Shareholders' Equity(In U.S. dollars) For the three months ended April 30, 2025 and 2024(Unaudited)Share Capital Additional paid-in capital Accumulated other comprehensive loss Deficit TotalShares AmountBalance, January 31, 2025 54,653,174 $ 367,487,956 $ 48,263,266 $ (7,456,599) $ (323,548,911) $ 84,745,712 Issuance of Subordinate Voting Shares on exercise of options 13,734 120,279 (88,253) — — 32,026 Issuance of Subordinate Voting Shares on settlement of restricted share units 370,200 1,328,952 (5,292,603) — — (3,963,651) Stock-based compensation — — 3,213,041 — — 3,213,041 Reduction in excess tax benefit on stock-based compensation — — (715,104) — — (715,104) Repurchase of share capital for cancellation under NCIB (168,800) (1,811,339) — — — (1,811,339) Share repurchase commitment under the ASPP — — — — (3,750,461) (3,750,461) Other comprehensive income — — — 2,760,468 — 2,760,468 Income for the period — — — — 3,268,304 3,268,304 Balance, April 30, 2025 54,868,308 $ 367,125,848 $ 45,380,347 $ (4,696,131) $ (324,031,068) $ 83,778,996 Balance, January 31, 2024 53,978,085 $ 364,830,884 $ 47,485,107 $ (4,998,317) $ (350,437,401) $ 56,880,273 Issuance of Subordinate Voting Shares on exercise of options 206,299 1,739,261 (900,761) — — 838,500 Issuance of Subordinate Voting Shares on settlement of restricted share units 194,483 965,967 (2,587,799) — — (1,621,832) Stock-based compensation — — 2,332,754 — — 2,332,754 Repurchase of share capital for cancellation under NCIB (131,380) (1,021,919) — — — (1,021,919) Share repurchase commitment under the ASPP — — — — 284,181 284,181 Other comprehensive loss — — — (795,690) — (795,690) Income for the period — — — — 572,266 572,266 Balance, April 30, 2024 54,247,487 $ 366,514,193 $ 46,329,301 $ (5,794,007) $ (349,580,954) $ 57,468,533 D2L Consolidated Interim Statements of Cash Flows(In U.S. dollars) For the three months ended April 30, 2025 and 2024(Unaudited)2025 2024 Operating activities:Income for the period $ 3,268,304 $ 572,266Items not involving cash: Depreciation of property and equipment 392,558 436,493 Depreciation of right-of-use assets 347,334 286,692 Amortization of intangible assets 557,631 27,967 Gain on disposal of property and equipment (16,825) (45,803) Stock-based compensation 3,213,041 2,332,754 Net interest income (496,923) (923,385) Income tax expense 2,595,585 23,649 Fair value gain on loan receivable from associate (172,270) —Changes in operating assets and liabilities: Trade and other receivables 3,684,970 (2,528,272) Uninvoiced revenue (133,791) 168,438 Prepaid expenses 153,112 2,116,314 Deferred commissions 369,573 (191,409) Accounts payable and accrued liabilities (1,189,037) (6,008,716) Deferred revenue (14,399,467) (12,109,523) Right-of-use assets and lease liabilities — (43,743)Interest received 710,627 1,077,425Interest paid (1,633) (12,633)Income taxes paid (738,303) (4,239)Cash flows used in operating activities (1,855,514) (14,825,725) Financing activities:Payment of lease liabilities (487,522) (405,727)Proceeds from exercise of stock options 32,026 838,500Taxes paid on settlement of restricted share units (3,963,651) (1,621,832)Repurchase of share capital for cancellation under NCIB (1,811,339) (1,021,919)Cash flows used in financing activities (6,230,486) (2,210,978) Investing activities:Purchase of property and equipment (1,737) (171,869)Proceeds from disposal of property and equipment 16,825 45,803Cash flows from (used in) investing activities 15,088 (126,066) Effect of exchange rate changes on cash and cash equivalents 1,413,232 (929,583) Decrease in cash and cash equivalents (6,657,680) (18,092,352) Cash and cash equivalents, beginning of period 99,184,514 116,943,499 Cash and cash equivalents, end of period $ 92,526,834 $ 98,851,147 Non-IFRS Financial Measures and Reconciliation of Non-IFRS Financial Measures The information presented within this press release refers to certain non-IFRS financial measures (including non-IFRS ratios) including Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Gross Profit, Adjusted Gross Margin, Free Cash Flow, Free Cash Flow Margin, and Constant Currency Revenue. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS. Non-IFRS financial measures should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS and are unlikely to be comparable to similar measures presented by other issuers. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company's results of operations, financial performance and liquidity from management's perspective and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of the Company. The Company's management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts, and to assess our ability to meet our capital expenditures and working capital requirements. Adjusted EBITDA and Adjusted EBITDA Margin Adjusted EBITDA is defined as income (loss), excluding interest, taxes, depreciation and amortization (or EBITDA), adjusted for stock-based compensation, foreign exchange gains and losses, non-recurring expenses, transaction-related costs, fair value adjustment of acquired deferred revenue, income (loss) from equity accounted investee, change in fair value on the loan receivable from associate, impairment charges and other income and losses. Adjusted EBITDA Margin is calculated as Adjusted EBITDA expressed as a percentage of total revenue. For an explanation of management's use of Adjusted EBITDA and Adjusted EBITDA Margin see "Non-IFRS and Other Financial Measures – Non-IFRS Financial Measures and Non-IFRS Financial Ratios – Adjusted EBITDA and Adjusted EBITDA Margin" section in the Company's Interim MD&A, which section is incorporated by reference herein. The following table reconciles Adjusted EBITDA to income for the period, and discloses Adjusted EBITDA Margin, for the periods indicated: (in thousands of U.S. dollars, except for percentages) Three months ended April 30 2025 2024Income for the period 3,268 572Stock-based compensation 3,213 2,333Foreign exchange gain (1,537) (231)Non-recurring expenses(1) 471 821Transaction-related costs(2) 440 672Fair value adjustment of acquired deferred revenue(3) 225 —Change in fair value of loan receivable from associate(4) (172) —Net interest income (497) (923)Income tax expense 2,596 24Depreciation and amortization 1,298 751Adjusted EBITDA 9,305 4,019Adjusted EBITDA Margin 17.6 % 8.3 %Notes: (1) These expenses relate to non-recurring activities, such as certain legal fees incurred that are not indicative of continuing operations, and changes of workforce or technology whereby certain functions were realigned to optimize operations. (2) These expenses include post-combination compensation costs from the acquisition of H5P, and was partially offset by a gain recognized from the reduction in the second anniversary payment owed to the selling shareholders of Connected Shopping Ltd ("Connected Shopping"), a company acquired in Fiscal 2024, which was recorded through Other income. In the prior fiscal year, these expenses included post-combination compensation, legal, professional and other fees related to the acquisition activities of H5P, Connected Shopping, and the divestiture of our majority ownership stake in SkillsWave. These expenses would not have been incurred if not for these transactions and are not considered to be indicative of expenses associated with the Company's continuing operations. (3) At the date of acquisition, the Company recognized a fair value adjustment on the opening deferred revenue balance acquired as part of the H5P acquisition as required under IFRS 3, Business Combinations. This adjustment is not reflective of ordinary operations and is expected to be substantially completed by the end of Fiscal 2026. (4) On a quarterly basis, the Company determines the fair value of the loan advanced to SkillsWave. The adjustments to the fair value of the loan are not reflective of the Company's main business operations and will not impact the Company's future results beyond the maturity date of the loan on June 28, 2029. Adjusted Gross Profit and Adjusted Gross Margin Adjusted Gross Profit is defined as gross profit excluding related stock-based compensation expenses and amortization from acquired intangible assets, specifically acquired technology. Adjusted Gross Margin is calculated as Adjusted Gross Profit expressed as a percentage of total revenue. For an explanation of management's use of Adjusted Gross Profit and Adjusted Gross Margin see "Non-IFRS and Other Financial Measures – Non-IFRS Financial Measures and Non-IFRS Financial Ratios – Adjusted Gross Profit and Adjusted Gross Margin" section in the Company's Interim MD&A, which section is incorporated by reference herein. The following table reconciles Adjusted Gross Profit to gross profit, and discloses Adjusted Gross Margin, for the periods indicated: (in thousands of U.S. dollars, except for percentages) Three months ended April 30 2025 2024 Gross profit for the period 37,030 32,677 Stock-based compensation 206 146 Amortization from acquired intangible assets 431 16 Adjusted Gross Profit 37,667 32,839 Adjusted Gross Margin 71.3 % 67.7 % Free Cash Flow and Free Cash Flow MarginFree Cash Flow is defined as cash flows from (used in) operating activities less net additions to property and equipment. Free Cash Flow Margin is calculated as Free Cash Flow expressed as a percentage of total revenue. For an explanation of management's use of Free Cash Flow and Free Cash Flow Margin see "Non-IFRS and Other Financial Measures – Non-IFRS Financial Measures and Non-IFRS Financial Ratios – Free Cash Flow and Free Cash Flow Margin" section in the Company's Interim MD&A, which section is incorporated by reference herein. The following table reconciles Free Cash Flow to cash flow used in operating activities, and discloses Free Cash Flow Margin, for the periods indicated: (in thousands of U.S. dollars, except for percentages) Three months ended April 30 2025 2024 Cash flow used in operating activities (1,856) (14,826) Net disposal (additions) to property and equipment 15 (126) Free Cash Flow (1,841) (14,952) Free Cash Flow Margin -3.5 % -30.8 % Constant Currency Revenue Constant Currency Revenue is defined as our total revenue with foreign-currency-denominated revenues translated at the historical exchange rates from the comparable prior period into our U.S. dollar functional currency. For an explanation of management's use of Constant Currency Revenue see "Non-IFRS and Other Financial Measures – Non-IFRS Financial Measures and Non-IFRS Financial Ratios – Constant Currency Revenue" section in the Company's Interim MD&A, which section is incorporated by reference herein. The following table reconciles our Constant Currency Revenue to revenue, for the periods indicated: (in thousands of U.S. dollars) Three months ended April 30 2025 2024 Total revenue for the period 52,835 48,495 Negative impact of foreign exchange rate changes over the prior period 773 — Constant Currency Revenue 53,608 48,495 Key Performance IndicatorsManagement uses a number of metrics, including the key performance indicators identified below, to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner different than similar key performance indicators used by other issuers. These metrics are estimated operating metrics and not projections, nor actual financial results, and are not indicative of current or future performance. Annual Recurring Revenue and Constant Currency Annual Recurring Revenue: We define Annual Recurring Revenue ("ARR") as the annualized equivalent value of subscription revenue from all existing customer contracts as at the date being measured, exclusive of the implementation period. Our calculation of ARR assumes that customers will renew their contractual commitments as those commitments come up for renewal. We believe ARR provides a reasonable, real-time measure of performance in a subscription-based environment and provides us with visibility for potential growth in our cash flows. We believe that increasing ARR reflects the continued strength of our business and the successful execution of our strategy. Increasing ARR will continue to be our focus on a go-forward basis. We define Constant Currency Annual Recurring Revenue as foreign-currency-denominated ARR translated at the historical exchange rates from the comparable prior period into our U.S. dollar functional at April 30 (in millions of U.S. dollars, except percentages) 2025 2024 Change $ $ % ARR 206.2 190.3 8.4 % Constant Currency Annual Recurring Revenue 206.8 190.3 8.7 % SOURCE D2L Inc. View original content to download multimedia: Sign in to access your portfolio
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Ambiq recognized for pioneering energy-efficient semiconductor solutions that empower next-generation AI-enabled healthcare innovations SAN ANTONIO, June 10, 2025 /CNW/ -- Frost & Sullivan is pleased to announce that Ambiq has been awarded the 2025 Global Company of the Year Award in the semiconductor solutions for the healthcare industry for its outstanding achievements in innovation, technology advancement, and customer-centric strategy execution. This recognition highlights Ambiq's unwavering leadership in developing ultra-low power semiconductor platforms that are transforming digital health solutions and enabling AI-powered diagnostics and monitoring at the edge. Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Ambiq excelled in both areas, demonstrating its ability to anticipate evolving market needs while consistently delivering cutting-edge products that enhance performance, energy efficiency, and scalability across healthcare and related sectors. "Ambiq's primary focus lies on delivering energy-efficient solutions with extended battery life. The company is also implementing solutions or models for AI that can enable the expansion of ultra-low power edge AI technologies," said Utkarsha Soundankar, industry analyst at Frost & Sullivan. Guided by a forward-looking growth strategy that prioritizes research and development, ecosystem collaboration, and application-specific innovation, Ambiq has successfully positioned itself at the forefront of the semiconductor market. The company's strategic agility and sustained investment in edge AI and low-power computing have enabled it to scale its technology globally while delivering targeted solutions that meet the demands of modern digital healthcare systems. Innovation is at the heart of Ambiq's operational ethos. Its Apollo System-on-Chip (SoC) series, now in its fifth generation, is setting new standards for energy efficiency in smart health devices. The Apollo510 combines an Arm Cortex-M55 CPU with Helium technology, advanced security features like secureSPOT and Arm TrustZone with PUF, and dynamic graphics performance via its 2.5D GPU. The company plans to release variations of both current and next-gen Apollo SoCs to cater to customers of all sizes and their power needs for AI-enabled devices. "We are honored to be awarded the prestigious Frost & Sullivan award in Healthcare Semiconductor Solutions," says Fumihide Esaka, CEO of Ambiq. "Since our founding, we have been on a mission to enable intelligence everywhere, a mission that often aligns with our digital health customer's mission of making healthcare more accessible to everyone. We're proud to help these healthcare innovators meet this mission in making effective patient care more efficient, available, and less costly using our ultra-low power semiconductors and solutions." In addition to its Apollo series, Ambiq's suite of technologies—powered by its patented Subthreshold Power Optimized Technology (SPOT®) platform—includes the Artasie real-time clocks for power optimization, the neuralSPOT AI development kit, and heartKIT®, which enables accurate AI-driven ECG monitoring. These innovations collectively extend device battery life while supporting always-on, intelligent applications across wearables, diagnostic tools, and connected medical devices. Ambiq's unwavering commitment to customer success further strengthens its position as a partner of choice in the healthcare semiconductor space. By maintaining close collaboration with device manufacturers and solution providers, Ambiq accelerates time-to-market for new products and ensures that partners receive the technical and operational support needed for long-term success. Its partnerships with companies like CardioMedive, Smartaly, and Bravechip underscore its ability to deliver reliable, high-performance, and energy-efficient chipsets that address real-world challenges in cardiovascular monitoring, wearable diagnostics, and IoT integration. Frost & Sullivan commends Ambiq for setting a high standard in competitive strategy, execution, and market responsiveness. The company's vision, robust innovation pipeline, and customer-first culture are shaping the future of semiconductor technologies for healthcare and unlocking new possibilities for edge AI and intelligent diagnostics worldwide. Each year, Frost & Sullivan presents the Company of the Year Award to a company that demonstrates outstanding strategy development and implementation, resulting in measurable improvements in market share, customer satisfaction, and competitive positioning. The award recognizes forward-thinking organizations that are reshaping their industries through innovation and growth excellence. Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry. To learn more about why Ambiq was chosen as Frost & Sullivan's Company of the Year for Healthcare Semiconductor Solutions, read the complete evaluation report here. About Frost & Sullivan For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, megatrends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact:Ashley ShreveE: About Ambiq Our mission is to enable intelligence (artificial intelligence (AI) and beyond) everywhere by delivering the lowest power semiconductor solutions. We enable our customers to deliver artificial intelligence compute at the edge where power consumption challenges are the most profound. Our technology innovations, built on the patented and proprietary subthreshold power optimized technology (SPOT), fundamentally deliver a multi-fold improvement in power consumption over traditional semiconductor designs. We've powered over 270 million devices today. For more information, visit Contact Charlene WanVP of Marketing and Investor Relationscwan@ View original content: SOURCE Frost & Sullivan View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Olymel to build state-of-the-art integrated plant in Trois-Rivières
BOUCHERVILLE, QC, June 10, 2025 /CNW/ - Olymel, the Canadian leader in the production, processing and distribution of pork and poultry meats, today announced the construction of a major expansion of its La Fernandière plant in Trois-Rivières, a major investment of $142 million that will allow Olymel to better serve its customers in Canada and abroad. The work will begin in the next few days, with the start of operations scheduled for spring 2026. The project objectives Olymel is pursuing several objectives with this project and significant gains are expected in the first year of operation. The plant, which essentially manufactures sausages at the present time, will expand production to include a wider range of pork and poultry products. It will also be converted into an integrated facility where products can be fully processed and packaged on site, thus reducing the transport of raw materials, better aligning processes, and strengthening the company's productivity. Finally, this new plant will considerably increase Olymel's production capacity at a time when the organization is aiming to strengthen the positioning of its products across Canada. "We're very proud to announce this major expansion of our Trois-Rivières plant. It's a big step forward for Olymel. Having this state-of-the-art plant will create new possibilities for expansion and significantly improve our efficiency, which is central to our company's performance. The project is perfectly aligned with our strategy of capitalizing on the creation of value-added products made with meat of superior quality that's produced by local farmers," declared Yanick Gervais, CEO of Olymel. A technological trailblazer in Quebec's agri-food industry Innovation will be at the core of the project, with new systems optimized by artificial intelligence. The connectivity of all the equipment and components will be used to ensure optimized operations management. The technologies include a unique industrial battery system, a continuous cooking line, completely autonomous operations (slicing, packaging, boxing and palletizing), and autonomous vehicles, all of which are points of innovation for the Canadian agri-food sector. The modernization of operations will result in more consistent production, to better meet the needs of our customers here and abroad. State-of-the-art equipment will allow the plant to utilize the latest packaging technology, for increased flexibility that fosters the use of eco-friendly solutions. By allying these technologies with our workers' expertise, we will maximize our operational efficiency while placing a premium on the knowledge and experience of our teams. Finally, the plant will serve as an innovation hub for new artificial intelligence solutions that Olymel can deploy elsewhere in its network, with the goal of increasing its productivity and optimizing its operations. A comprehensive approach to sustainable development In terms of occupational health and safety, the new ergonomic equipment will reduce the number of physically demanding tasks for employees, improve employee comfort at operating stations, and free up workers so that they can focus on tasks requiring more precision. Everything in the project was designed to optimize energy consumption, with measures that include heat recovery, net–zero water-based cooking, and a heat exchanger to recover heat from wastewater. On-site industrial batteries will be used to store energy and better manage the plant's power consumption when the grid is at peak demand. The ham cooking systems will utilize closed-circuit water management, which saves much more energy and water. In addition, a primary and secondary water treatment plant will be built on site, along with the necessary retention pond, to manage stormwater runoff. Finally, reduced greenhouse gas emissions from transportation and the improved management of natural gas, refrigerants, electricity, and residual materials will all result in environmental gains. A project that drives prosperity in the Mauricie region Locally, the plant will generate new economic opportunities, including the creation of some 50 direct jobs—bringing the total number of employees up to 400—and many indirect jobs. To help power Quebec's economy, the vast majority of building materials chosen will be made in Quebec. The contractor chosen for the construction work, Construction Bertrand Dionne, is from Drummondville, and the palletizing and boxing services will be designed by Premier Tech, a company from Rivière-du-Loup. Parallel to this project, and with a view to optimizing its operations and capturing the full benefit of the new plant, Olymel will permanently close its Anjou facility (140 employees) and its Cap-de-la-Madeleine facility (150 employees) in spring 2026. All personnel will be offered positions in neighbouring Olymel plants, particularly the newly built facility, which will be located a dozen kilometres from the Cap-de-la-Madeleine plant. About Olymel Olymel is Canada's leader in production, processing and distribution of pork and poultry meats. Its mission is to feed the world with passion and with products of the highest quality. The company has production and processing facilities in Quebec, Ontario, Alberta, Saskatchewan and New Brunswick, and employs over 12,000 people. It has annual sales of around $4.5 billion. The company markets its products mainly under the Olymel, Pinty's, La Fernandière, Lafleur and Flamingo brands. SOURCE Olymel l.p. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
