VIQ Solutions Inc. (T:VQS*CA)
Business Focus: Software (NEC)
| Sector: Technology | Industry: Software |
| Company Contact | |
| Address: | 5915 Airport Road, Suite 700 MISSISSAUGA ON L4V 1T1 |
| Tel: | N/A |
| Website: | https://viqsolutions.com |
| IR: | See website |
| Key People | ||
| Larry D. Taylor Executive Chairman of the Board | Susan Sumner President, Chief Operating Officer, Director | Sebastien Pare Chief Executive Officer, Director |
| Alexie Edwards Chief Financial Officer | Vahram Sukyas Chief Technology Officer | |
| Business Overview |
| VIQ Solutions Inc. is a Canada-based global provider of secure, artificial intelligence (AI)-driven, digital voice and video capture technology and transcription services. The Company's modular software allows customers to integrate the platform at any stage of their organization's digitization, from the capture of digital content from video and audio devices through to online collaboration, mobility, data analytics, and integration with sensors, facial recognition, speech recognition and case management or patient record systems. It provides services to various industries, such as courts, law firms, law enforcement, insurance, government, corporate and finance, media broadcasting and transcription companies. The Company's solutions include CapturePro, CapturePro Mobile, MobileMic Pro, NetScribe, aiAssist, FirstDraft, Carbon, Lexel and AccessPoint. Its CapturePro solution captures, manages and shares official court records, police interrogations or insurance investigations. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, VIQ Solutions Inc revenues decreased 11% to $41M. Net loss increased 65% to $14.3M. Revenues reflect Transcription Services segment decrease of 11% to $37.1M, Technology segment decrease of 4% to $3.9M, Australia segment decrease of 15% to $22.4M, United States segment decrease of 6% to $16.5M. Higher net loss reflects Gain on revaluation of the derivative wa decrease of 91% to $383K (income). |
| Employees: | 334 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $24.86M as of Dec 31, 2023 |
| Annual revenue (TTM): | $56.14M as of Dec 31, 2023 |
| EBITDA (TTM): | -$7.20M as of Dec 31, 2023 |
| Net annual income (TTM): | -$19.61M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$6.56M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $16.90M as of Dec 31, 2023 |
| Shares outstanding: | 40,956,838 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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