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Q1 2026 Highlights
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| Revenue (in $ millions) | |||||||||||
| SaaS Subscription | Recurring | Total | |||||||||
| Reported | Y/Y growth | Reported | Y/Y growth | Reported | Y/Y growth | ||||||
| $8.1 | 4.9% | $11.1 | 1.1% | $14.7 | (9.7)% | ||||||
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- SaaS ARR up 7% Y/Y to $33.6 million;
- Total ARR up 3% Y/Y to $45.6 million;
- Gross Profit margin of 57%;
- Recurring Revenue at 75% of Total Revenue;
- Net Loss of $3.8 million; and
- Adjusted EBITDA1 margin of 7.9% or $1.2 million
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CALGARY, Alberta, May 12, 2026 (GLOBE NEWSWIRE) — Sylogist Ltd. (TSX:SYZ) (“Sylogist” or the “Company”), a leading public sector SaaS company, today announced its financial results for the three months ended March 31, 2026.
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“The Company remains focused on completing the final steps in its transformation to a dynamic SaaS business model,” said Craig O’Neill, Interim President and CEO of Sylogist. “Following several years of investment, we are now proving the value of our cloud-based products with our customers and partners. We are also increasing our emphasis on operational efficiency and go-to-market performance, including the ongoing transition to partner-led project delivery. Although this transition has created short-term pressure on project services revenue, we believe it will enable greater scalability as our SaaS products gain traction in our target markets and ultimately drive stronger recurring revenue growth.”
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Dividend and NCIB Update
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The Company also announced that, in order to support its capital allocation priorities, its Board of Directors has approved the suspension of the Company’s quarterly dividend.
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In February 2026, the TSX approved the renewal of the Company’s NCIB program, under which the Company repurchased 95,000 common shares at an average price of $3.84 per share during the first quarter. The Company intends to continue utilizing the program as a preferred means of returning capital to shareholders.
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The Company will host a conference call at 8:30 AM Eastern Time on May 12, 2026, to review its three-month financial results and business performance.
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Conference Call Details:
Date: Tuesday, May 12, 2026
Time: 8:30 AM ET
Participant Toll-Free Dial-In Number: + 1-833-752-3805
Participant International Dial-In Number: + 1-647-846-8841
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This conference call will be recorded and available for replay on the Company’s website.
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About Sylogist
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Sylogist provides mission-critical SaaS solutions to public sector customers globally across the government, nonprofit, and education market segments. The Company’s stock is traded on the Toronto Stock Exchange under the symbol SYZ. Information about Sylogist can be found at sedarplus.ca or at sylogist.com.
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Forward-looking Statements
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This news release contains “forward-looking information” within the meaning of applicable securities legislation. Although the forward-looking information is based on what the Company believes are reasonable assumptions, current expectations, and estimates, investors are cautioned from placing undue reliance on this information since actual results may vary from the forward-looking information. Forward-looking information may be identified by the use of forward-looking terminology such as “believe”, “assume”, “intend”, “may”, “will”, “expect”, “estimate”, “anticipate”, “continue”, “could”, “should”, “can”, “outlook” or similar terms, variations of those terms or the negative of those terms, and the use of the conditional tense as well as similar expressions.
English (US)