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Consolidated Statements of Operations and Comprehensive Income
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Years ended March 31, | 2025 | 2024 | ||
| Revenue | 129,446 | 108,679 | ||
| Cost of revenue | 24,940 | 17,224 | ||
| Gross profit | 104,506 | 91,455 | ||
| Operating expenses | ||||
| Sales and marketing | 18,617 | 14,957 | ||
| Research and development | 30,142 | 23,679 | ||
| General and administrative | 21,599 | 18,835 | ||
| 70,358 | 57,471 | |||
| Operating profit | 34,148 | 33,984 | ||
Finance income | 2,968 | 3,146 | ||
| Finance costs | (2,080 | ) | (1,908 | ) |
| Change in fair value of contingent consideration | (2,151 | ) | – | |
| Profit before income and other taxes | 32,885 | 35,222 | ||
| Income and other taxes | 10,448 | 8,963 | ||
Net income | 22,437 | 26,259 | ||
Other comprehensive income: | ||||
| Foreign currency translation adjustment | 4,693 | (367 | ) | |
| Other comprehensive income | 4,693 | (367 | ) | |
| Total comprehensive income | 27,130 | 25,892 | ||
| Net income per share – basic | 0.27 | 0.32 | ||
| Net income per share – diluted | 0.27 | 0.32 | ||
| Dividend per share | 0.20 | 0.20 |
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Consolidated Statements of Cash Flows
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| Years ended March 31, (thousands of Canadian $) | 2025 | 2024 | ||
Operating activities | ||||
| Net income | 22,437 | 26,259 | ||
| Adjustments for: | ||||
| Depreciation and amortization of property, equipment, right-of use assets | 4,756 | 4,187 | ||
| Amortization of intangible assets | 3,709 | 1,501 | ||
| Deferred income tax expense (recovery) | (776 | ) | 3,518 | |
| Stock-based compensation | (1,297 | ) | 2,795 | |
| Foreign exchange and other non-cash items | 800 | (5 | ) | |
| Change in fair value of contingent consideration | 2,151 | – | ||
| Funds flow from operations | 31,780 | 38,255 | ||
| Movement in non-cash working capital: | ||||
| Trade and other receivables | (527 | ) | (6,697 | ) |
| Trade payables and accrued liabilities | (818 | ) | 2,618 | |
| Prepaid expenses and other assets | (169 | ) | (1,183 | ) |
| Income taxes receivable (payable) | 2,421 | (1,826 | ) | |
| Deferred revenue | (2,770 | ) | 4,910 | |
| Change in non-cash working capital | (1,863 | ) | (2,178 | ) |
| Net cash provided by operating activities | 29,917 | 36,077 | ||
Financing activities | ||||
| Repayment of acquired line of credit | – | (2,012 | ) | |
| Repayment of government loan | (141 | ) | – | |
| Proceeds from issuance of common shares | 5,597 | 4,193 | ||
| Repayment of lease liabilities | (2,750 | ) | (2,355 | ) |
| Dividends paid | (16,376 | ) | (16,207 | ) |
| Net cash used in financing activities | (13,670 | ) | (16,381 | ) |
Investing activities | ||||
| Corporate acquisition, net of cash acquired | (27,292 | ) | (22,814 | ) |
| Repayment of acquisition holdback payable | (9,247 | ) | – | |
| Property and equipment additions, net of disposals | (1,422 | ) | (650 | ) |
| Net cash used in investing activities | (37,961 | ) | (23,464 | ) |
Decrease in cash | (21,714 | ) | (3,768 | ) |
| Effect of foreign exchange on cash | 2,515 | 1 | ||
| Cash, beginning of year | 63,083 | 66,850 | ||
| Cash, end of year | 43,884 | 63,083 | ||
Supplementary cash flow information | ||||
| Interest received | 2,605 | 3,096 | ||
| Interest paid | 1,891 | 1,908 | ||
| Income taxes paid | 11,370 | 7,201 |
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CORPORATE PROFILE
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CMG Group (TSX:CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. The Company is headquartered in Calgary, AB, with offices in Houston, Oslo, Stavanger, Kaiserslautern, Oxford, Dubai, Bogota, Rio de Janeiro, Bengaluru, and Kuala Lumpur. For more information, please visit www.cmgl.ca.
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ANNUAL FILINGS AND RELATED ANNUAL FINANCIAL INFORMATION
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Management’s Discussion and Analysis (“MD&A”) and consolidated financial statements and the notes thereto for the year ended March 31, 2025, can be obtained from our website www.cmgl.ca. The documents will also be available under CMG Group’s SEDAR profile www.sedarplus.ca.
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Cautionary Note Regarding Forward-Looking Statements
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This press release contains “forward-looking statements”. Forward-looking statements can be identified by words such as: “anticipate”, “intend”, “plan”, “goal”, “seek”, “believe”, “project”, “estimate”, “expect”, “strategy”, “future”, “likely”, “may”, “should”, “will”, and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the benefits of the acquired technology, the ongoing development thereof; and the ability of data analytics to improve efficiency, cut costs and reduce risks.
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Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are detailed in the companies’ public filings.
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Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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