ISC reports strong first quarter financial results in 2025, with revenue and adjusted EBITDA increasing
From GlobeNewswire: 2025-05-06 22:49:00
ISC reported strong financial results for the first quarter of 2025, with revenue increasing by 5% year-over-year to $59.3 million. The company achieved a record adjusted EBITDA of $21.8 million, representing a 12% increase from the previous year. Net income for the quarter was $7.5 million, a significant improvement from the $0.4 million reported in Q1 2024. The growth was driven by increased volumes in the Saskatchewan Registries division and strong performance in the Recovery Solutions segment. ISC remains focused on sustainable growth and aims to deleverage its balance sheet to achieve a net leverage target of 2.0x – 2.5x.
In the Registry Operations segment, revenue increased by 13% to $29.6 million, driven by growth in Land Registry, Personal Property Registry, and Corporate Registry revenue. The Services segment revenue was $26.6 million, down 1% from the previous year, mainly due to lower revenue in Regulatory Solutions. Technology Solutions revenue increased by 21% to $8.6 million. Total expenses for the quarter were $44.5 million, a decrease from $49.8 million in Q1 2024. Sustaining capital expenditures were $1.9 million, compared to $2.1 million in the previous year.
Looking ahead, ISC expects continued organic growth in 2025, with revenue projected to be between $257.0 million to $267.0 million and adjusted EBITDA in the range of $89.0 million to $97.0 million. The company will focus on driving growth in its Registry Operations, Services, and Technology Solutions segments, while pursuing new opportunities to support its long-term growth targets.
ISC will hold an investor conference call on May 7, 2025, at 11:00 a.m. ET to discuss the results. Interested parties can join the live audio webcast on ISC’s website. The company’s Class A Shares trade on the Toronto Stock Exchange under the symbol ISC.
For more information, including detailed financial disclosures and reconciliation of non-IFRS performance measures, visit ISC’s website or contact their Investor Relations or Media Relations departments.
Read more at GlobeNewswire: ISC Reports 2025 First Quarter Financial Results; Diluted