Latest news with #ShawnPeters
The Market Online
2 days ago
- Business
- The Market Online
ISC to digitize Government of Ontario property records
Information Services (TSX:ISC) signed a contract with Ontario's Ministry of Environment, Conservation and Parks to digitize and redact millions of legacy property records under an initial nine-year term ISC is a top provider of registry and information management services for public records and data ISC stock has added 21.32 per cent year-over-year and 88.72 per cent since 2020 Information Services (TSX:ISC) signed a contract with Ontario's Ministry of Environment, Conservation and Parks to digitize and redact millions of legacy property records under an initial nine-year term. This content has been prepared as part of a partnership with Information Services Corp., and is intended for informational purposes only. The project, part of the ministry's Modernization of Property Information Program, which is focused on improving access to environmental property information across the province, will require ISC to oversee the design, security, quality assurance and ongoing support for a new 24/7 self-service records system. The intended outcome, according to Monday's news release, is to improve response times for environmental property information requests, specifically pertaining to soil, water and contamination, as well as expedite land transactions and decision-making regarding land development in Ontario. ISC will kick off initial work in August with an anticipated system launch in 2027, complementing its profitable track record with a stable, long-term revenue stream. The company grew revenue by more than 80 per cent from C$136.72 million in 2020 to C$247.37 million in 2024, while delivering average annual net income of C$25.79 million over the period. Operations are on track for higher year-over-year results under both metrics in 2025. Leadership insights 'This project exemplifies how ISC drives digital transformation through scalable and secure solutions that enhance access to essential records and clearly aligns with our expertise in land and property-related registries and solutions,' Shawn Peters, president and chief executive officer of ISC, said in a statement. 'We look forward to working with the Government of Ontario to implement a system that improves access to environmental property records, supports faster response times and helps enable land development across the province.' 'The Ontario government receives over 9,000 property-related information requests each year to support land transactions worth more than C$40 billion,' added Todd McCarthy, Minister of the Environment, Conservation and Parks. 'With ISC's support, the move to a secure, self-service portal will be a game-changer for builders — reducing wait times from around 30 days to as little as 3 — and giving the industry the tools it needs to deliver housing faster and keep our economy strong.' ISC is a top provider of registry and information management services for public records and data. ISC stock (TSX:ISC) last traded at C$33.12 and has added 21.32 per cent year-over-year and 88.72 per cent since 2020. Join the discussion: Find out what investors are saying about this profitable technology stock on the Information Services Corp. Bullboard and make sure to explore the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
Business Upturn
2 days ago
- Business
- Business Upturn
ISC Signs Agreement With Government of Ontario to Deliver New Digital Records System for Property Information
ISC to develop and operate a new digital records system for environmental property information. New digital portal will enable 24/7 self-service access to environmental property records, creating a faster, more efficient service. Following an initial build phase expected to last two years, the contract includes a seven-year operating term, with extension options available at the sole discretion of the Government. REGINA, Saskatchewan, Aug. 18, 2025 (GLOBE NEWSWIRE) — Information Services Corporation (TSX: ISC) ('ISC' or the 'Company') has entered into an agreement with Ontario's Ministry of Environment, Conservation and Parks ('MECP') to deliver a new digital records system. The project is part of MECP's Modernization of Property Information ('MPI') Program, which is focused on improving access to environmental property information across Ontario. 'This project exemplifies how ISC drives digital transformation through scalable and secure solutions that enhance access to essential records and clearly aligns with our expertise in land and property-related registries and solutions,' stated Shawn Peters, President and CEO of ISC. 'We look forward to working with the Government of Ontario to implement a system that improves access to environmental property records, supports faster response times and helps enable land development across the province.' Under an initial nine-year term, with extension options available at the sole discretion of the Government, ISC will develop and operate a digital records system that includes system design, security and privacy frameworks, quality assurance and testing, and ongoing support. The system will digitize and redact millions of legacy property records. This initiative will improve response times for environmental property information requests related to soil, water, and contamination. It will also help facilitate land transactions and support decision making tied to land development across Ontario. 'The Ontario government receives over 9,000 property-related information requests each year to support land transactions worth more than $40 billion,' said Todd McCarthy, Minister of the Environment, Conservation and Parks. 'With ISC's support, the move to a secure, self-service portal will be a game-changer for builders — reducing wait times from around 30 days to as little as 3 — and giving the industry the tools it needs to deliver housing faster and keep our economy strong.' ISC will begin implementation in August 2025, with the system anticipated to launch in 2027. The new digital portal will provide 24/7 self-service access to environmental property records. It is expected to enable faster, more efficient service and reduce reliance on the current Freedom of Information process for property-related information. As the chosen partner for MECP, ISC will deliver the solution through its Registry Operations and Technology Solutions business segments. The Company will be responsible for the design, development, and ongoing operations of the new digital records system. See how ISC's three lines of business are growing the registry operations, technology solutions and information services landscape: About ISC Headquartered in Canada, ISC is a leading provider of registry and information management services for public data and records. Throughout our history, we have delivered value to our clients by providing solutions to manage, secure and administer information through our Registry Operations, Services and Technology Solutions segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISC. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information within the meaning of applicable Canadian securities laws including, without limitation, statements related to the term of the agreement between ISC and MECP, the anticipated implementation and launch timeline of the digital records system, expected benefits to users and stakeholders and the potential impact on land development and environmental property information access across Ontario. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to changes in economic, market and business conditions; delays in implementation; cost overruns; changes in government priorities or funding; technological challenges; evolving regulatory requirements; shifts in user demands; termination or modification of the agreement and other risks disclosed from time to time in the filings made by the Company including those detailed in ISC's Annual Information Form for the year ended December 31, 2024 and ISC's unaudited Condensed Consolidated Interim Financial Statements and Notes and Management's Discussion and Analysis for the second quarter and six months ended June 30, 2025 copies of which are filed on SEDAR+ at The forward-looking information in this release is based on assumptions that ISC management believes are reasonable as of the date hereof. However, readers are cautioned not to place undue reliance on such information. Except as required under applicable securities laws, ISC undertakes no obligation to update or revise any forward-looking information to reflect new events or circumstances. Investor Contact Jonathan HackshawSenior Director, Investor Relations & Capital MarketsToll Free: 1-855-341-8363 in North America or 1-306-798-1137 [email protected]
Hamilton Spectator
31-07-2025
- Business
- Hamilton Spectator
ISC Reports Financial Results for the Second Quarter of 2025
Capitalized terms that are used but not defined in this news release have the meaning ascribed to those terms in Management's Discussion & Analysis for the three and six months ended June 30, 2025 . REGINA, Saskatchewan, July 30, 2025 (GLOBE NEWSWIRE) — Information Services Corporation (TSX:ISC) ('ISC' or the 'Company') today reported on the Company's financial results for the quarter ended June 30, 2025. Commenting on ISC's results, Shawn Peters, President and CEO stated, 'Our results for the second quarter of 2025 showcase the strength of our diversified business model, delivering a solid performance. Registry Operations maintained stability with rising real estate values, while Services grew through the high-margin Recovery Solutions division.' Peters continued, 'Despite higher share-based compensation and other unexpected costs in the quarter, our financial discipline ensures sustained performance. This balanced approach to execution positions us to continue to drive growth.' Second Quarter 2025 Highlights Financial Position as at June 30, 2025 Subsequent Events Summary of Second Quarter 2025 Financial Results Second Quarter 2025 Results of Operations Outlook The following section includes forward-looking information, including statements related to our strategy, future results, including revenue and adjusted EBITDA, segment performance, the industries in which we operate, economic activity, growth opportunities, investments and business development opportunities. Refer to 'Caution Regarding Forward-Looking Information'. Our guidance for 2025 reflects continued organic growth in line with historical trends. While not included in our guidance, our disciplined M&A strategy is intended to support our long-term growth targets as we continue to pursue new opportunities. In Registry Operations, a declining interest rate environment is likely to support ongoing activity in the Saskatchewan real estate market. As a result, there is expected to be typical annual growth in overall volumes in the Saskatchewan Land Registry of 2 to 3 per cent on an annualized basis. At the same time, there is also forecasted to be an increase in the fair market value of regular real estate transfers, along with inventory challenges in the lower-value homes category. The stability of the Ontario Property Tax Assessment division, along with a full year of BASR and annual Saskatchewan Registries CPI fee adjustments, will support the segment's steady financial performance. In Services, we expect continued growth in the Regulatory Solutions division due to the ongoing trend of increased due diligence by financial institutions. In addition, we expect to build on the strong gains made in the Recovery Solutions division in 2024. Growth in these two divisions is expected to offset any headwinds from the further opening of the Ontario Business Registry, as well as the unexpected ban on NOSIs in Ontario at the start of June 2024. In Technology Solutions, we are re-forecasting our growth in 2025 as the timing of some Third Party projects has been extended into 2026 and we now expect 2025 to be consistent with 2024. As a result, in 2025 ISC continues to expect revenue to be within a range of $257.0 million to $267.0 million and adjusted EBITDA to be in a range of $89.0 million to $97.0 million. In keeping with our historical performance, the Company also expects to see robust free cash flow in 2025, which will support the deleveraging of our balance sheet to realize a long-term net leverage target of 2.0x – 2.5x. Note to Readers The Board of Directors ('Board') of ISC is responsible for review and approval of this disclosure. The Audit Committee of the Board, which is comprised exclusively of independent directors, reviews and approves the fiscal year-end Management's Discussion and Analysis and Financial Statements and recommends both to the Board for approval. The interim financial statements and MD&A are reviewed and approved by the Audit Committee. This news release provides a general summary of ISC's results for the quarters ended June 30, 2025 and 2024. Readers are encouraged to download the Company's complete financial disclosures. Links to ISC's financial statements and related notes and MD&A for the period are available on our website in the Investor Relations section at . Copies can also be obtained at by searching Information Services Corporation's profile or by contacting Information Services Corporation at . All figures are in Canadian dollars unless otherwise noted. Conference Call and Webcast An investor conference call will be held on Thursday, July 31, 2025 at 11:00 a.m. ET to discuss the results. Those joining the call on a listen-only basis are encouraged to join the live audio webcast, which will be available on ISC's website at . Participants who wish to ask a question on the live call may do so through the ISC website, or by registering at: . Once registered, participants will receive the dial-in numbers and their unique PIN number. When dialing in, participants will input their PIN and be placed into the call. While not required, it is recommended that participants join 10 minutes before the start time. A replay of the webcast will be available approximately 24 hours after the event on ISC's website at . Media are invited to attend on a listen-only basis. About ISC® Headquartered in Canada, ISC is a leading provider of registry and information management services for public data and records. Throughout our history, we have delivered value to our clients by providing solutions to manage, secure and administer information through our Registry Operations, Services and Technology Solutions segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISC. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information within the meaning of applicable Canadian securities laws including, without limitation, those contained in the 'Outlook' section hereof. Forward-looking information includes statements related to our strategy, future results, including revenue and adjusted EBITDA, segment performance, expenses, operating costs, capital expenditures, and expectations regarding the industries in which we operate, growth opportunities, economic activity, investments, business development opportunities and our future financial position and results of operations. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks related to changes in economic, market and business conditions, technological developments, shifts in customer demands and expectations, reliance on key customers and licences, dependence on key projects and clients, the ability to secure new business and manage fixed-price contracts, identification of viable growth opportunities, execution of the Company's growth strategy, competition, termination risks and other risks disclosed from time to time in the Company's filings, including those detailed in ISC's Annual Information Form for the year ended December 31, 2024 and ISC's unaudited Condensed Consolidated Interim Financial Statements and Notes and Management's Discussion and Analysis for the quarter ended June 30, 2025, copies of which are filed on SEDAR+ at . The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, ISC assumes no obligation to update or revise such information to reflect new events or circumstances. Non-IFRS Performance Measures Included within this news release is reference to certain measures that have not been prepared in accordance with IFRS Accounting Standards, such as adjusted net income, adjusted earnings per share, basic, adjusted earnings per share, diluted, adjusted EBITDA, adjusted EBITDA margin, free cash flow and adjusted free cash flow. These measures are provided as additional information to complement IFRS measures by providing further understanding of our financial performance from management's perspective, to provide investors with supplemental measures of our operating performance and, thus, highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, prepare annual operating budgets, and assess our ability to meet future capital expenditure and working capital requirements. Accordingly, these non-IFRS measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS Accounting Standards. Such measures do not have any standardized meaning prescribed by IFRS Accounting Standards and therefore may not be comparable to similar measures presented by other companies. The following presents a reconciliation of adjusted net income to net income, a reconciliation of adjusted EBITDA to net income and a reconciliation of adjusted free cash flow to free cash flow to net cash flow provided by operating activities: Reconciliation of Adjusted Net Income to Net Income 1 Calculated at ISC's statutory tax rate of 27.0 per cent . Reconciliation of Adjusted EBITDA to Net Income Reconciliation of Adjusted Free Cash Flow to Free Cash Flow to Net Cash Flow Provided by Operating Activities 1 Refer to Note 17 to the Financial Statements for reconciliation. Investor Contact Jonathan Hackshaw Senior Director, Investor Relations & Capital Markets Toll Free:1-855-341-8363 in North America or 1-306-798-1137 Media Contact Jodi Bosnjak External Communications Specialist Toll Free:1-855-341-8363 in North America or 1-306-798-1137
Yahoo
31-07-2025
- Business
- Yahoo
ISC Reports Financial Results for the Second Quarter of 2025
Solid Q2 2025 performance from diversified segments. Registry Operations stable, Services saw growth in Recovery Solutions, Technology Solutions improved efficiency. Financial discipline maintained, ensuring sustained performance. Capitalized terms that are used but not defined in this news release have the meaning ascribed to those terms in Management's Discussion & Analysis for the three and six months ended June 30, 2025. REGINA, Saskatchewan, July 30, 2025 (GLOBE NEWSWIRE) -- Information Services Corporation (TSX:ISC) ('ISC' or the 'Company') today reported on the Company's financial results for the quarter ended June 30, 2025. Commenting on ISC's results, Shawn Peters, President and CEO stated, "Our results for the second quarter of 2025 showcase the strength of our diversified business model, delivering a solid performance. Registry Operations maintained stability with rising real estate values, while Services grew through the high-margin Recovery Solutions division." Peters continued, "Despite higher share-based compensation and other unexpected costs in the quarter, our financial discipline ensures sustained performance. This balanced approach to execution positions us to continue to drive growth." Second Quarter 2025 Highlights Revenue was $67.3 million for the quarter ended June 30, 2025, consistent when compared to $67.8 million in the second quarter of 2024. Within Registry Operations, there was steady revenue from the Saskatchewan Registries division, particularly in the Land Registry, where an increase in average real estate values across the Saskatchewan market offset lower transaction volumes and was supplemented by new BASR revenue. Counterbalancing this was a decrease in Services revenue, where the continued growth in the higher-margin Recovery Solutions revenue through increased assignments and subsequent sales did not fully offset a decline in the lower-margin Regulatory Solutions division revenue. Net income was $5.9 million or $0.32 per basic share and diluted share for the quarter ended June 30, 2025, compared to $10.3 million or $0.57 per basic share and $0.56 per diluted share in the second quarter of 2024. Steady adjusted EBITDA results across our operating segments and lower net finance expense were offset by increased share-based compensation and professional and consulting services expenses. Net cash flow provided by operating activities was $22.9 million for the quarter ended June 30, 2025, a decrease of $1.3 million in the second quarter of 2024. Contributing to the decrease were the same items as described above for net income. Adjusted net income was $15.1 million or $0.81 per basic and $0.81 diluted share for the quarter ended June 30, 2025, compared to $14.1 million or $0.78 per basic share and $0.77 per diluted share in the second quarter of 2024. The increase reflects steady adjusted EBITDA results across all operating segments and lower net finance expense. Adjusted EBITDA for the quarter ended June 30, 2025, was $26.7 million, steady compared to a record $27.2 million in the second quarter of 2024. Consistent adjusted EBITDA from Registry Operations combined with lower cost of goods sold in the Services segment as a result of lower volumes in the Regulatory and Corporate Solutions divisions together with higher margin revenue in Recovery solutions were counterbalanced by slightly increased expenses. Adjusted EBITDA margin was 40 per cent which was consistent with the second quarter of 2024. Adjusted free cash flow for the quarter ended June 30, 2025, was $21.0 million, compared to $15.7 million in the second quarter of 2024, due to steady adjusted EBITDA results across our operating segments in addition to lower interest paid on long term debt. Voluntary prepayments of $15.0 million were made towards the Company's Credit Facility during the quarter. This is part of the Company's plan to deleverage towards a long-term net leverage target of 2.0x – 2.5x. See Section 6.3 'Debt' for more information on ISC's Credit Facility. On June 4, 2025, the Company announced that it had authorized, and the Toronto Stock Exchange (the "TSX") had accepted, a notice filed of its intention to make a normal course issuer bid (the "NCIB"), to purchase for cancellation up to 929,007 Class A limited voting shares of ISC (the 'Class A Shares') over the twelve-month period commencing on June 6, 2025 and ending no later than June 5, 2026, representing approximately 5 per cent of the Class A Shares issued and outstanding as at June 2, 2025. As at July 30, 2025, the Company has not yet repurchased any shares under the NCIB. Financial Position as at June 30, 2025 Cash of $21.3 million compared to $21.0 million as at December 31, 2024, an increase of $0.3 million. Total debt of $154.7 million compared to $167.6 million as at December 31, 2024. The Company is focused on continuing sustainable growth and deleveraging its balance sheet towards a long-term net leverage target of 2.0x – 2.5x. Subsequent Events On July 30, 2025, the Board declared a quarterly cash dividend of $0.23 per Class A Share, payable on or before October 15, 2025, to shareholders of record as of September 30, 2025. Summary of Second Quarter 2025 Financial Results (thousands of CAD; except earnings per share, adjusted earnings per share and where noted) Three Months Ended June 30, 2025 2024 Revenue Registry Operations $ 35,417 $ 34,391 Services 29,770 30,855 Technology Solutions1 2,104 2,599 Corporate and other 21 3 Total revenue $ 67,312 $ 67,848 Total expenses $ 54,901 $ 47,631 Adjusted EBITDA2 $ 26,678 $ 27,180 Adjusted EBITDA margin2 39.6 % 40.0 % Net income $ 5,890 $ 10,319 Adjusted net income2 $ 15,134 $ 14,067 Earnings per share (basic) $ 0.32 $ 0.57 Earnings per share (diluted) $ 0.32 $ 0.56 Adjusted earnings per share (basic)2 $ 0.81 $ 0.78 Adjusted earnings per share (diluted)2 $ 0.81 $ 0.77 Adjusted free cash flow2 $ 21,004 $ 15,664 1 Corporate and other and Inter-segment eliminations are excluded. Technology Solutions revenue included in the above chart is Third Party revenue. Please see Section 3.3 ' Technology Solutions' in the MD&A for more information. 2 Adjusted net income, adjusted earnings per share, basic, adjusted earnings per share, diluted, adjusted EBITDA, adjusted EBITDA margin and adjusted free cash flow are not recognized as measures under IFRS Accounting Standards, do not have a standardized meaning prescribed and may not be comparable to similar measures reported by other companies. Refer to Section 8.8 ' Non-IFRS financial measures' in the MD&A for a discussion on why we use these measures, the calculation of them and their most directly comparable financial measure calculated in accordance with IFRS Accounting Standards. Refer to Section 2. ' Consolidated Financial Analysis' and Section 6.1 ' Cash flow' in the MD&A for a reconciliation of these measures to the most directly comparable financial measure calculated in accordance with IFRS Accounting Standards. Second Quarter 2025 Results of Operations Total revenue was $67.3 million, down 1 per cent compared to Q2 2024. Registry Operations segment revenue was $35.4 million, up 3 per cent compared to Q2 2024. Land Registry revenue was $23.2 million, down compared to $23.6 million in Q2 2024. Personal Property Registry revenue was $3.7 million, up compared to $3.5 million in Q2 2024. Corporate Registry revenue was $3.4 million, up compared to $3.3 million in Q2 2024. Property Tax Assessment Services revenue was $4.3 million, up compared to $3.9 million in Q2 2024. Other Registries revenue was $0.9 million, up compared to Q2 2024. Services segment revenue was $29.8 million, down 4 per cent compared to Q2 2024. Regulatory Solutions revenue was $22.8 million, down compared to $23.6 million in Q2 2024. Recovery Solutions revenue was $4.4 million, up compared to $3.8 million in Q2 2024. Corporate Solutions revenue was $2.6 million, down compared to $3.4 million in Q2 2024. Technology Solutions revenue was $7.9 million, up 6 per cent compared to Q2 2024. Consolidated expenses were $54.9 million compared to $47.6 million for Q2 2024. Net income was $5.9 million or $0.32 per basic share and $0.32 per diluted share, compared to $10.3 million or $0.57 per basic share and $0.56 per diluted share in Q2 2024. Sustaining capital expenditures were $2.6 million, compared to $2.7 million in Q2 2024. Outlook The following section includes forward-looking information, including statements related to our strategy, future results, including revenue and adjusted EBITDA, segment performance, the industries in which we operate, economic activity, growth opportunities, investments and business development opportunities. Refer to 'Caution Regarding Forward-Looking Information'. Our guidance for 2025 reflects continued organic growth in line with historical trends. While not included in our guidance, our disciplined M&A strategy is intended to support our long-term growth targets as we continue to pursue new opportunities. In Registry Operations, a declining interest rate environment is likely to support ongoing activity in the Saskatchewan real estate market. As a result, there is expected to be typical annual growth in overall volumes in the Saskatchewan Land Registry of 2 to 3 per cent on an annualized basis. At the same time, there is also forecasted to be an increase in the fair market value of regular real estate transfers, along with inventory challenges in the lower-value homes category. The stability of the Ontario Property Tax Assessment division, along with a full year of BASR and annual Saskatchewan Registries CPI fee adjustments, will support the segment's steady financial performance. In Services, we expect continued growth in the Regulatory Solutions division due to the ongoing trend of increased due diligence by financial institutions. In addition, we expect to build on the strong gains made in the Recovery Solutions division in 2024. Growth in these two divisions is expected to offset any headwinds from the further opening of the Ontario Business Registry, as well as the unexpected ban on NOSIs in Ontario at the start of June 2024. In Technology Solutions, we are re-forecasting our growth in 2025 as the timing of some Third Party projects has been extended into 2026 and we now expect 2025 to be consistent with 2024. As a result, in 2025 ISC continues to expect revenue to be within a range of $257.0 million to $267.0 million and adjusted EBITDA to be in a range of $89.0 million to $97.0 million. In keeping with our historical performance, the Company also expects to see robust free cash flow in 2025, which will support the deleveraging of our balance sheet to realize a long-term net leverage target of 2.0x – 2.5x. Note to Readers The Board of Directors ('Board') of ISC is responsible for review and approval of this disclosure. The Audit Committee of the Board, which is comprised exclusively of independent directors, reviews and approves the fiscal year-end Management's Discussion and Analysis and Financial Statements and recommends both to the Board for approval. The interim financial statements and MD&A are reviewed and approved by the Audit Committee. This news release provides a general summary of ISC's results for the quarters ended June 30, 2025 and 2024. Readers are encouraged to download the Company's complete financial disclosures. Links to ISC's financial statements and related notes and MD&A for the period are available on our website in the Investor Relations section at Copies can also be obtained at by searching Information Services Corporation's profile or by contacting Information Services Corporation at All figures are in Canadian dollars unless otherwise noted. Conference Call and Webcast An investor conference call will be held on Thursday, July 31, 2025 at 11:00 a.m. ET to discuss the results. Those joining the call on a listen-only basis are encouraged to join the live audio webcast, which will be available on ISC's website at Participants who wish to ask a question on the live call may do so through the ISC website, or by registering at: Once registered, participants will receive the dial-in numbers and their unique PIN number. When dialing in, participants will input their PIN and be placed into the call. While not required, it is recommended that participants join 10 minutes before the start time. A replay of the webcast will be available approximately 24 hours after the event on ISC's website at Media are invited to attend on a listen-only basis. About ISC® Headquartered in Canada, ISC is a leading provider of registry and information management services for public data and records. Throughout our history, we have delivered value to our clients by providing solutions to manage, secure and administer information through our Registry Operations, Services and Technology Solutions segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISC. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information within the meaning of applicable Canadian securities laws including, without limitation, those contained in the 'Outlook' section hereof. Forward-looking information includes statements related to our strategy, future results, including revenue and adjusted EBITDA, segment performance, expenses, operating costs, capital expenditures, and expectations regarding the industries in which we operate, growth opportunities, economic activity, investments, business development opportunities and our future financial position and results of operations. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks related to changes in economic, market and business conditions, technological developments, shifts in customer demands and expectations, reliance on key customers and licences, dependence on key projects and clients, the ability to secure new business and manage fixed-price contracts, identification of viable growth opportunities, execution of the Company's growth strategy, competition, termination risks and other risks disclosed from time to time in the Company's filings, including those detailed in ISC's Annual Information Form for the year ended December 31, 2024 and ISC's unaudited Condensed Consolidated Interim Financial Statements and Notes and Management's Discussion and Analysis for the quarter ended June 30, 2025, copies of which are filed on SEDAR+ at The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, ISC assumes no obligation to update or revise such information to reflect new events or circumstances. Non-IFRS Performance Measures Included within this news release is reference to certain measures that have not been prepared in accordance with IFRS Accounting Standards, such as adjusted net income, adjusted earnings per share, basic, adjusted earnings per share, diluted, adjusted EBITDA, adjusted EBITDA margin, free cash flow and adjusted free cash flow. These measures are provided as additional information to complement IFRS measures by providing further understanding of our financial performance from management's perspective, to provide investors with supplemental measures of our operating performance and, thus, highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, prepare annual operating budgets, and assess our ability to meet future capital expenditure and working capital requirements. Accordingly, these non-IFRS measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS Accounting Standards. Such measures do not have any standardized meaning prescribed by IFRS Accounting Standards and therefore may not be comparable to similar measures presented by other companies. Non-IFRS performance measure Why we use it How we calculate it Most comparable IFRS financial measure Adjusted net incomeAdjusted earnings per share, basicAdjusted earnings per share, diluted To evaluate performance and profitability while excluding non-operational and share-based volatility. We believe that certain investors and analysts will use adjusted net income and adjusted earnings per share to evaluate performance while excluding items that management believes do not contribute to our ongoing operations. Adjusted earnings per share, basic is also used as a component of determining short-term incentive compensation for employees. Adjusted net income:Net income addShare-based compensation expense, acquisitions, integration and other costs, effective interest component of interest expense, debt finance costs expensed to professional and consulting, amortization of the intangible asset associated with the right to manage and operate the Saskatchewan Registries, amortization of registry enhancements, interest on the vendor concession liability and the tax effect of these adjustments at ISC's statutory tax rateAdjusted earnings per share, basic:Adjusted net income divided by weighted average number of common shares outstandingAdjusted earnings per share, diluted:Adjusted net income divided by diluted weighted average number of common shares outstanding Net incomeEarnings per share, basicEarnings per share, diluted Adjusted EBITDAAdjusted EBITDA margin To evaluate performance and profitability of segments and subsidiaries as well as the conversion of revenue while excluding non-operational and share-based volatility. We believe that certain investors and analysts use adjusted EBITDA to measure our ability to service debt and meet other performance obligations. We believe that certain investors and analysts use adjusted EBITDA margin to evaluate the performance of our business, as well as our ability to generate cash flows from ongoing operations. Adjusted EBITDA is also used as a component of determining short-term incentive compensation for employees. Adjusted EBITDA:Net income add (remove)Depreciation and amortization, net finance expense and income tax expense, share-based compensation expense, acquisition, integration and other costs, gain/loss on disposal of assets and asset impairment charges if significantAdjusted EBITDA margin:Adjusted EBITDA divided byTotal revenue Net income Free cash flow To show cash available for debt repayment and reinvestment into the Company on a levered basis. We believe that certain investors and analysts use this measure to value a business and its underlying assets. Free cash flow with share-based compensation at target is also used as a component of determining short-term incentive compensation for employees. Net cash flow provided by operating activities deduct (add)Net change in non-cash working capital, cash additions to property, plant and equipment, cash additions to intangible assets, interest received and paid as well as interest paid on lease obligations and principal repayments on lease obligations Net cash flow provided by operating activities Adjusted free cash flow To show cash available for debt repayment and reinvestment into the Company on a levered basis from continuing operations while excluding non-operational and share-based volatility. We believe that certain investors and analysts use this measure to value a business and its underlying assets based on continuing operations while excluding short-term non-operational items. Free cash flow deduct (add)Share-based compensation expense, acquisition, integration and other costs and registry enhancement capital expenditures Net cash flow provided by operating activities The following presents a reconciliation of adjusted net income to net income, a reconciliation of adjusted EBITDA to net income and a reconciliation of adjusted free cash flow to free cash flow to net cash flow provided by operating activities: Reconciliation of Adjusted Net Income to Net Income Three Months Ended June 30, Pre-tax Tax1 After-tax (thousands of CAD) 2025 2024 2025 2024 2025 2024 Adjusted net income $ 20,669 $ 19,562 $ (5,535 ) $ (5,495 ) $ 15,134 $ 14,067 Add (subtract): Share-based compensation expense (4,610 ) 1,097 1,244 (296 ) (3,366 ) 801 Acquisition, integration and other costs (3,498 ) (1,259 ) 944 340 (2,554 ) (919 ) Effective interest component of interest expense (66 ) (65 ) 18 18 (48 ) (47 ) Interest on vendor concession liability (2,174 ) (2,594 ) 587 700 (1,587 ) (1,894 ) Amortization of right to manage and operate the Saskatchewan Registries (2,313 ) (2,314 ) 624 625 (1,689 ) (1,689 ) Net income $ 8,008 $ 14,427 $ (2,118 ) $ (4,108 ) $ 5,890 $ 10,319 1 Calculated at ISC's statutory tax rate of 27.0 per cent. Reconciliation of Adjusted EBITDA to Net Income Three Months Ended June 30, (thousands of CAD) 2025 2024 Adjusted EBITDA $ 26,678 $ 27,180 Add (subtract): Share-based compensation expense (4,610 ) 1,097 Acquisition, integration and other costs (3,498 ) (1,259 ) Depreciation and amortization (6,159 ) (6,801 ) Net finance expense (4,403 ) (5,790 ) Income tax expense (2,118 ) (4,108 ) Net income $ 5,890 $ 10,319 Adjusted EBITDA margin (% of revenue) 39.6 % 40.0 % Reconciliation of Adjusted Free Cash Flow to Free Cash Flow to Net Cash Flow Provided by Operating Activities Three Months Ended June 30, (thousands of CAD) 2025 2024 Adjusted free cash flow $ 21,004 $ 15,664 Add (subtract): Share-based compensation expense (4,610 ) 1,097 Acquisition, integration and other costs (3,498 ) (1,259 ) Registry enhancement capital expenditures (2,197 ) (1,135 ) Free cash flow $ 10,699 $ 14,367 Add (subtract): Cash additions to property, plant and equipment 151 305 Cash additions to intangible assets 2,433 2,405 Interest received (137 ) (252 ) Interest paid 1,412 4,307 Interest paid on lease obligations 186 125 Principal repayment on lease obligations 536 697 Net change in non-cash working capital1 7,590 2,195 Net cash flow provided by operating activities $ 22,870 $ 24,149 1 Refer to Note 17 to the Financial Statements for reconciliation. Investor ContactJonathan HackshawSenior Director, Investor Relations & Capital MarketsToll Free:1-855-341-8363 in North America or Media ContactJodi BosnjakExternal Communications SpecialistToll Free:1-855-341-8363 in North America or 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
Hamilton Spectator
07-05-2025
- Business
- Hamilton Spectator
ISC Reports 2025 First Quarter Financial Results; Diluted EPS of $0.40
Capitalized terms that are used but not defined in this news release have the meaning ascribed to those terms in Management's Discussion & Analysis for the three months ended March 31, 2025. REGINA, Saskatchewan, May 06, 2025 (GLOBE NEWSWIRE) — Information Services Corporation (TSX:ISC) ('ISC' or the 'Company') today reported on the Company's financial results for the first quarter ended March 31, 2025. Commenting on ISC's results, Shawn Peters, President and CEO stated, 'It was another consistently strong performance by ISC for the first quarter of 2025. The diversification of our business and the resiliency of the Saskatchewan Registries division have been and will continue to generate strong results despite the Company operating in a more uncertain macroeconomic backdrop.' First Quarter 2025 Highlights Financial Position as at March 31, 2025 Subsequent Events Management's Discussion of ISC's Summary of First Quarter 2025 Financial Results 1 Corporate and other and Inter-segment eliminations are excluded. Technology Solutions revenue included in the above chart is Third Party revenue. Please see Section 3.3 'Technology Solutions' in the MD&A for more information. 2 Adjusted net income, adjusted earnings per share, basic, adjusted earnings per share, diluted, adjusted EBITDA, adjusted EBITDA margin and adjusted free cash flow are not recognized as measures under IFRS Accounting Standards, do not have a standardized meaning prescribed and may not be comparable to similar measures reported by other companies. Refer to Section 8.8 'Non-IFRS financial measures' in the MD&A for a discussion on why we use these measures, the calculation of them and their most directly comparable financial measure calculated in accordance with IFRS Accounting Standards. Refer to Section 2 'Consolidated Financial Analysis' and Section 6.1 'Cash flow' in the MD&A for a reconciliation of these measures to the most directly comparable financial measure calculated in accordance with IFRS Accounting Standards . 2025 First Quarter Results of Operations Outlook The following section includes forward-looking information, including statements related to our strategy, future results, including revenue and adjusted EBITDA, segment performance, the industries in which we operate, economic activity, growth opportunities, investments and business development opportunities. Refer to 'Caution Regarding Forward-Looking Information'. Our guidance for 2025 reflects continued organic growth in line with historical trends. While not included in our guidance, our disciplined M&A strategy is intended to support our long-term growth targets as we continue to pursue new opportunities. In Registry Operations, a declining interest rate environment is likely to support ongoing activity in the Saskatchewan real estate market. As a result, there is expected to be typical annual growth in overall volumes in the Saskatchewan Land Registry of 2 to 3 per cent. At the same time, there is also forecasted to be an increase in the fair market value of regular real estate transfers, along with inventory challenges in the lower-value homes category. The stability of the Ontario Property Tax Assessment division, along with a full year of BASR and annual Saskatchewan Registries CPI fee adjustments, will support the segment's steady financial performance. In Services, we expect continued growth in the Regulatory Solutions division due to the ongoing trend of increased due diligence by financial institutions. In addition, we expect to build on the strong gains made in the Recovery Solutions division in 2024. Growth in these two divisions is expected to offset any headwinds from the further opening of the Ontario Business Registry, as well as the unexpected ban on NOSIs in Ontario at the start of June 2024. In Technology Solutions, we are again forecasting double-digit growth in 2025, supported by a pipeline of Third Party and Related Party contracts, that is currently being delivered, including our projects in Cyprus, Guernsey, Michigan and the recently announced contract with Liechtenstein, among others. As a result, in 2025 ISC expects revenue to be within a range of $257.0 million to $267.0 million and adjusted EBITDA to be in a range of $89.0 million to $97.0 million. In keeping with our historical performance, the Company also expects to see robust free cash flow in 2025, which will support the deleveraging of our balance sheet to realize a long-term net leverage target of 2.0x – 2.5x. Note to Readers The Board of Directors ('Board') of ISC is responsible for review and approval of this disclosure. The Audit Committee of the Board, which is comprised exclusively of independent directors, reviews and approves the fiscal year-end Management's Discussion and Analysis and Financial Statements and recommends both to the Board for approval. The interim financial statements and MD&A are reviewed and approved by the Audit Committee. This news release provides a general summary of ISC's results for the quarters ended March 31, 2025 and 2024. Readers are encouraged to download the Company's complete financial disclosures. Links to ISC's financial statements and related notes and MD&A for the period are available on our website in the Investor Relations section at Copies can also be obtained at by searching Information Services Corporation's profile or by contacting Information Services Corporation at All figures are in Canadian dollars unless otherwise noted. Conference Call and Webcast An investor conference call will be held on Wednesday, May 7, 2025 at 11:00 a.m. ET to discuss the results. Those joining the call on a listen-only basis are encouraged to join the live audio webcast, which will be available on ISC's website at . Participants who wish to ask a question on the live call may do so through the ISC website, or by registering at: Once registered, participants will receive the dial-in numbers and their unique PIN number. When dialing in, participants will input their PIN and be placed into the call. While not required, it is recommended that participants join 10 minutes before the start time. A replay of the webcast will be available approximately 24 hours after the event on ISC's website at . Media are invited to attend on a listen-only basis. About ISC® Headquartered in Canada, ISC is a leading provider of registry and information management services for public data and records. Throughout our history, we have delivered value to our clients by providing solutions to manage, secure and administer information through our Registry Operations, Services and Technology Solutions segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISC. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information within the meaning of applicable Canadian securities laws including, without limitation, those contained in the 'Outlook' section hereof, including statements related to our strategy, future results, including revenue and adjusted EBITDA, segment performance, expenses, operating costs and capital expenditures, and statements related to the industries in which we operate, growth opportunities, economic activity, investments, business development opportunities and our future financial position and results of operations. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to changes in economic, market and business conditions, changes in technology and customers' demands and expectations, reliance on key customers and licences, dependence on key projects and clients, securing new business and fixed-price contracts, identification of viable growth opportunities, implementation of our growth strategy, competition, termination risks and other risks detailed from time to time in the filings made by the Company including those detailed in ISC's Annual Information Form for the year ended December 31, 2024 and ISC's unaudited Condensed Consolidated Interim Financial Statements and Notes and Management's Discussion and Analysis for the first quarter ended March 31, 2025, copies of which are filed on SEDAR+ at . The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, ISC assumes no obligation to update or revise such information to reflect new events or circumstances. Non-IFRS Performance Measures Included within this news release is reference to the following non-IFRS performance measures. These measures, which are reconciled below are reviewed regularly by management and the Board of Directors in assessing our performance and making decisions regarding the ongoing operations of our business and its ability to generate returns. These measures may also be used by external parties in decision making related to ISC's performance. They are not recognized measures under IFRS and do not have a standardized meaning under IFRS, so may not be reliable ways to compare us to other companies. The following presents a reconciliation of adjusted net income to net income, a reconciliation of adjusted EBITDA to net income and a reconciliation of adjusted free cash flow to free cash flow to net cash flow provided by operating activities: Reconciliation of Adjusted Net Income to Net Income Reconciliation of Adjusted EBITDA to Net Income Reconciliation of Adjusted Free Cash Flow to Free Cash Flow to Net Cash Flow Provided by Operating Activities Investor Contact Jonathan Hackshaw Senior Director, Investor Relations & Capital Markets Toll Free: 1-855-341-8363 in North America or 1-306-798-1137 Media Contact Jodi Bosnjak External Communications Specialist Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
