Major Estimate Revision • May 12
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from €1.56 to €1.82. Revenue forecast steady at €1.81b. Net income forecast to grow 536% next year vs 13% growth forecast for Software industry in Canada. Consensus price target broadly unchanged at CA$145. Share price fell 9.1% to CA$88.27 over the past week. Reported Earnings • May 06
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: €0.41 (down from €0.54 in 1Q 2025). Revenue: €435.7m (up 23% from 1Q 2025). Net income: €34.2m (down 24% from 1Q 2025). Profit margin: 7.9% (down from 13% in 1Q 2025). Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 2% per year. Annonce • Apr 16
Topicus.com Inc. to Report Q1, 2026 Results on May 05, 2026 Topicus.com Inc. announced that they will report Q1, 2026 results After-Market on May 05, 2026 Annonce • Mar 10
Topicus.com Inc., Annual General Meeting, May 15, 2026 Topicus.com Inc., Annual General Meeting, May 15, 2026. Location: ontario, toronto Canada Reported Earnings • Feb 26
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: €0.50 (down from €1.11 in FY 2024). Revenue: €1.55b (up 20% from FY 2024). Net income: €41.8m (down 55% from FY 2024). Profit margin: 2.7% (down from 7.1% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 194%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Feb 14
Topicus.com Inc. to Report Q4, 2025 Results on Feb 25, 2026 Topicus.com Inc. announced that they will report Q4, 2025 results After-Market on Feb 25, 2026 New Risk • Nov 06
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 67% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (67% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.8% net profit margin). Significant insider selling over the past 3 months (CA$1.5m sold). Reported Earnings • Nov 06
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: €0.94 loss per share (down from €0.28 profit in 3Q 2024). Revenue: €387.9m (up 24% from 3Q 2024). Net loss: €78.2m (down 435% from profit in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 22% per year. Buy Or Sell Opportunity • Oct 29
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to CA$138. The fair value is estimated to be CA$183, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 44%. Annonce • Oct 21
Topicus.com Inc. to Report Q3, 2025 Results on Nov 04, 2025 Topicus.com Inc. announced that they will report Q3, 2025 results After-Market on Nov 04, 2025 Buy Or Sell Opportunity • Sep 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to CA$145. The fair value is estimated to be CA$182, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 44%. Revenue is forecast to grow by 41% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. New Risk • Sep 17
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$1.5m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Sep 17
Insider recently sold CA$1.3m worth of stock On the 15th of September, Ramon Zanders sold around 8k shares on-market at roughly CA$163 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$3.5m more than they bought in the last 12 months. Major Estimate Revision • Aug 08
Consensus EPS estimates increase by 16%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €1.61b to €1.57b. EPS estimate rose from €1.44 to €1.67. Net income forecast to grow 11% next year vs 17% growth forecast for Software industry in Canada. Consensus price target up from CA$196 to CA$214. Share price fell 3.7% to CA$183 over the past week. Reported Earnings • Aug 03
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: €0.31 (up from €0.20 in 2Q 2024). Revenue: €372.0m (up 20% from 2Q 2024). Net income: €25.9m (up 52% from 2Q 2024). Profit margin: 7.0% (up from 5.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 19%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Annonce • Jul 15
Topicus.com Inc. to Report Q2, 2025 Results on Aug 01, 2025 Topicus.com Inc. announced that they will report Q2, 2025 results at 4:00 PM, Eastern Standard Time on Aug 01, 2025 Reported Earnings • May 09
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: €0.30 (up from €0.22 in 1Q 2024). Revenue: €355.6m (up 16% from 1Q 2024). Net income: €24.7m (up 37% from 1Q 2024). Profit margin: 7.0% (up from 5.9% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.2%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 21
Now 21% undervalued Over the last 90 days, the stock has risen 16% to CA$152. The fair value is estimated to be CA$193, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Annonce • Apr 15
Topicus.com Inc. to Report Q1, 2025 Results on May 02, 2025 Topicus.com Inc. announced that they will report Q1, 2025 results After-Market on May 02, 2025 Recent Insider Transactions • Apr 01
Insider recently sold CA$2.0m worth of stock On the 24th of March, Daan Dijkhuizen sold around 14k shares on-market at roughly CA$140 per share. This transaction amounted to 6.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$11m more than they bought in the last 12 months. Annonce • Mar 11
Topicus.com Inc., Annual General Meeting, May 13, 2025 Topicus.com Inc., Annual General Meeting, May 13, 2025. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: €1.11 (vs €0.88 in FY 2023) Full year 2024 results: EPS: €1.11 (up from €0.88 in FY 2023). Revenue: €1.29b (up 15% from FY 2023). Net income: €92.0m (up 28% from FY 2023). Profit margin: 7.1% (up from 6.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 131% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Annonce • Feb 12
Topicus.com Inc. to Report Q4, 2024 Results on Feb 26, 2025 Topicus.com Inc. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 26, 2025 Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: €0.28 (vs €0.22 in 3Q 2023) Third quarter 2024 results: EPS: €0.28 (up from €0.22 in 3Q 2023). Revenue: €312.2m (up 12% from 3Q 2023). Net income: €23.3m (up 30% from 3Q 2023). Profit margin: 7.5% (up from 6.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 142% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Annonce • Oct 16
Topicus.com Inc. to Report Q3, 2024 Results on Oct 31, 2024 Topicus.com Inc. announced that they will report Q3, 2024 results After-Market on Oct 31, 2024 Recent Insider Transactions • Sep 18
Insider recently sold CA$5.4m worth of stock On the 11th of September, Robert Alfred Scotchmer sold around 41k shares on-market at roughly CA$134 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$9.0m more than they bought in the last 12 months. Recent Insider Transactions • Sep 08
Insider recently sold CA$1.7m worth of stock On the 5th of September, Jeff Bender sold around 13k shares on-market at roughly CA$131 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$3.6m more than they bought in the last 12 months. Recent Insider Transactions • Aug 21
Insider recently sold CA$1.7m worth of stock On the 15th of August, Daan Dijkhuizen sold around 14k shares on-market at roughly CA$121 per share. This transaction amounted to 6.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$2.4m more than they bought in the last 12 months. Reported Earnings • Aug 04
Second quarter 2024 earnings released: EPS: €0.20 (vs €0.18 in 2Q 2023) Second quarter 2024 results: EPS: €0.20 (up from €0.18 in 2Q 2023). Revenue: €311.2m (up 14% from 2Q 2023). Net income: €17.0m (up 17% from 2Q 2023). Profit margin: 5.5% (up from 5.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 139% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annonce • Jul 16
Topicus.com Inc. to Report Q2, 2024 Results on Aug 01, 2024 Topicus.com Inc. announced that they will report Q2, 2024 results After-Market on Aug 01, 2024 Reported Earnings • May 02
First quarter 2024 earnings released: EPS: €0.22 (vs €0.17 in 1Q 2023) First quarter 2024 results: EPS: €0.22 (up from €0.17 in 1Q 2023). Revenue: €306.6m (up 16% from 1Q 2023). Net income: €18.1m (up 30% from 1Q 2023). Profit margin: 5.9% (up from 5.3% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 131% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Annonce • Apr 17
Topicus.com Inc. to Report Q1, 2024 Results on May 01, 2024 Topicus.com Inc. announced that they will report Q1, 2024 results on May 01, 2024 Annonce • Mar 09
Topicus.com Inc., Annual General Meeting, May 13, 2024 Topicus.com Inc., Annual General Meeting, May 13, 2024. Reported Earnings • Feb 14
Full year 2023 earnings released: EPS: €0.88 (vs €0.66 in FY 2022) Full year 2023 results: EPS: €0.88 (up from €0.66 in FY 2022). Revenue: €1.12b (up 23% from FY 2022). Net income: €71.8m (up 36% from FY 2022). Profit margin: 6.4% (up from 5.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Alex MacDonald was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Jan 18
Topicus.com Inc. to Report Q4, 2023 Results on Feb 06, 2024 Topicus.com Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Feb 06, 2024 Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: €0.22 (vs €0.15 in 3Q 2022) Third quarter 2023 results: EPS: €0.22 (up from €0.15 in 3Q 2022). Revenue: €278.8m (up 22% from 3Q 2022). Net income: €18.0m (up 52% from 3Q 2022). Profit margin: 6.4% (up from 5.2% in 3Q 2022). The increase in margin was driven by higher revenue. Annonce • Oct 18
Topicus.com Inc. to Report Q3, 2023 Results on Nov 02, 2023 Topicus.com Inc. announced that they will report Q3, 2023 results After-Market on Nov 02, 2023 Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: €0.18 (vs €0.16 in 2Q 2022) Second quarter 2023 results: EPS: €0.18 (up from €0.16 in 2Q 2022). Revenue: €272.1m (up 23% from 2Q 2022). Net income: €14.6m (up 16% from 2Q 2022). Profit margin: 5.4% (down from 5.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Annonce • Jul 21
Topicus.com Inc. to Report Q2, 2023 Results on Aug 03, 2023 Topicus.com Inc. announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 03, 2023 Annonce • May 10
Bernard Anzarouth, Jeff Bender, Jamal Baksh, Mark Leonard, Daan Dijkhuizen, Han Knooren and Paul Noordeman Do Not Stand for Re-Election to the Topicus.com Inc.’s Board of Directors Bernard Anzarouth, Jeff Bender, Jamal Baksh, Mark Leonard, Daan Dijkhuizen, Han Knooren and Paul Noordeman did not stand for re-election to the Topicus.com Inc.’s board of directors at the AGM held on May 8, 2023. Annonce • May 06
Topicus.com Inc. (TSXV:TOI) acquired Geoactive Limited from Lloyd’s Register Group Limited. Topicus.com Inc. (TSXV:TOI) acquired Geoactive Limited from Lloyd’s Register Group Limited on July 1, 2022. The remaining 40% is owned by the Vela Software Group.
Topicus.com Inc. (TSXV:TOI) completed the acquisition of Geoactive Limited from Lloyd’s Register Group Limited on July 1, 2022. Reported Earnings • May 06
First quarter 2023 earnings released: EPS: €0.17 (vs €0.14 in 1Q 2022) First quarter 2023 results: EPS: €0.17 (up from €0.14 in 1Q 2022). Revenue: €264.4m (up 30% from 1Q 2022). Net income: €13.9m (up 20% from 1Q 2022). Profit margin: 5.3% (down from 5.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Recent Insider Transactions • Mar 20
Director recently sold CA$171k worth of stock On the 13th of March, Bernard Anzarouth sold around 2k shares on-market at roughly CA$90.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: €0.66 (vs €30.16 loss in FY 2021) Full year 2022 results: EPS: €0.66 (up from €30.16 loss in FY 2021). Revenue: €916.7m (up 24% from FY 2021). Net income: €52.9m (up €1.96b from FY 2021). Profit margin: 5.8% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Annonce • Feb 01
Topicus.com Inc. to Report Q4, 2022 Results on Feb 07, 2023 Topicus.com Inc. announced that they will report Q4, 2022 results After-Market on Feb 07, 2023 Board Change • Nov 16
Less than half of directors are independent There are 12 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 12 new directors. No experienced directors. No highly experienced directors. 3 independent directors (9 non-independent directors). Director & Operational CFO Topicus Operating Group Paul Noordeman is the most experienced director on the board, commencing their role in 2020. Independent Director Alex MacDonald was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: €0.15 (vs €0.094 in 3Q 2021) Third quarter 2022 results: EPS: €0.15 (up from €0.094 in 3Q 2021). Revenue: €228.6m (up 29% from 3Q 2021). Net income: €11.8m (up 59% from 3Q 2021). Profit margin: 5.2% (up from 4.2% in 3Q 2021). The increase in margin was driven by higher revenue. Annonce • Oct 18
Topicus.com Inc. to Report Q3, 2022 Results on Nov 03, 2022 Topicus.com Inc. announced that they will report Q3, 2022 results After-Market on Nov 03, 2022 Buying Opportunity • Oct 07
Now 21% undervalued Over the last 90 days, the stock is up 1.8%. The fair value is estimated to be CA$94.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Aug 17
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be CA$94.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • Aug 05
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €220.6m (up 24% from 2Q 2021). Net income: €12.5m (down 92% from 2Q 2021). Profit margin: 5.7% (down from 91% in 2Q 2021). The decrease in margin was driven by higher expenses. Annonce • Jul 19
Topicus.com Inc. to Report Q2, 2022 Results on Aug 03, 2022 Topicus.com Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 03, 2022 Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 17% share price gain to CA$78.11, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 56x in the Software industry in Canada. Negligible returns to shareholders over past year. Reported Earnings • May 05
First quarter 2022 earnings released: EPS: €0.14 (vs €52.40 loss in 1Q 2021) First quarter 2022 results: EPS: €0.14 (up from €52.40 loss in 1Q 2021). Revenue: €203.8m (up 14% from 1Q 2021). Net income: €11.6m (up €2.08b from 1Q 2021). Profit margin: 5.7% (up from net loss in 1Q 2021). The move to profitability was primarily driven by lower expenses. Board Change • Apr 27
Less than half of directors are independent There are 12 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 12 new directors. No experienced directors. No highly experienced directors. 3 independent directors (9 non-independent directors). Director & Operational CFO Topicus Operating Group Paul Noordeman is the most experienced director on the board, commencing their role in 2020. Independent Director Alex MacDonald was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Annonce • Apr 19
Topicus.com Inc. to Report Q1, 2022 Results on May 03, 2022 Topicus.com Inc. announced that they will report Q1, 2022 results After-Market on May 03, 2022 Annonce • Feb 26
Topicus.com Inc., Annual General Meeting, May 05, 2022 Topicus.com Inc., Annual General Meeting, May 05, 2022. Reported Earnings • Feb 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: €29.76 loss per share (down from €1.08 profit in FY 2020). Revenue: €742.5m (up 50% from FY 2020). Net loss: €1.88b (down €1.95b from profit in FY 2020). Revenue was in line with analyst estimates.