Annuncio • Mar 14
Quisitive Technology Solutions, Inc. Common Shares to Be Deleted from OTC Equity Quisitive Technology Solutions, Inc. Common Shares (Canada) will be deleted from OTC Equity effective March 13, 2025, due to Acquisition /Merger /Amalgamation. Annuncio • Mar 13
Quisitive Technology's Shares to Be Delisted from the TSX Venture Exchange Quisitive Technology Solutions, Inc. announced the successful completion of the previously announced plan of arrangement under the Business Corporations Act (British Columbia) (the “Transaction”) pursuant to which, among other things, an affiliate of funds managed by of H.I.G. Capital (the “Purchaser”) acquired all of the issued and outstanding common shares of Quisitive (the “Shares”) for CAD 0.57 per Share in cash, other than Shares previously held by certain employees who entered into rollover agreements. The Company received the final order from the Supreme Court of British Columbia approving the Transaction on March 4, 2025, and the Shares are expected to be delisted from the TSX Venture Exchange after the end of trading on March 12, 2025. The Purchaser intends to cause Quisitive to submit an application to cease to be a reporting issuer under applicable Canadian securities laws. Annuncio • Mar 12
H.I.G. Capital, LLC completed the acquisition of Quisitive Technology Solutions, Inc. (TSXV:QUIS) in equity reinvestment transaction. H.I.G. Capital, LLC entered into an agreement to acquire Quisitive Technology Solutions, Inc. (TSXV:QUIS) for CAD 170 million in equity reinvestment transaction on December 31, 2024. Under the terms of the agreement, shareholders will receive CAD 0.57 per Share in cash. The rollover shareholders will roll certain of their shares in the Quisitive Technology Solutions for equity interests in H.I.G and an affiliated entity of H.I.G. All rollovers will occur at a value per share equal to the cash purchase price. The purchase price of the transaction represents a total equity value of approximately CAD 169.1 million. The Quisitive Technology Solutions expects to hold the Special Meeting of shareholders to consider the transaction in March 2025.
The transaction has been unanimously approved by Quisitive Technology board of directors. The transaction is subject to Quisitive Technology shareholder approval, approval of the Supreme Court of British Columbia, in addition to certain regulatory approvals and closing conditions customary to a transaction of this nature. The transaction is expected to close in the first quarter of 2025. As of February 28, 2025, Quisitive shareholders approved the transaction. Quisitive will seek a final order of the Supreme Court of British Columbia to approve the Arrangement at a hearing expected to be held on March 4, 2025. The arrangement is expected to close on or about March 11, 2025, provided all the customary closing conditions set forth in the agreement governing the Arrangement are satisfied or waived.
Tana Ryan, Noah Beck, Amanda Rotkel, Max Scott, Olivia J. Greer, Rebecca Sivitz, Benton Lewis, Jasmine Rosner, Carla A. R. Hine, Ariel Kronman, Dan S. Nobil and Navneeta Rekhi of Weil, Gotshal & Manges LLP and John Leopold and David Massé of Stikeman Elliott LLP acted as legal advisors to H.I.G. Capital. William Blair & Company, L.L.C. and Canaccord Genuity Corp. acted as financial advisor and fairness opinion provider to Quisitive Technology Solutions. Jay Goldman and Lindsay Clements of Cassels Brock & Blackwell LLP and J. Page Davidson and S. Ryan Hoffman of Bass, Berry & Sims PLC acted as legal counsel to the Quisitive Technology Solutions. Laurel Hill Advisory Group acted as information agent to Quisitive Technology. Guggenheim Securities LLC acted as financial advisor to H.I.G. Capital.
H.I.G. Capital, LLC completed the acquisition of Quisitive Technology Solutions, Inc. (TSXV:QUIS) in equity reinvestment transaction on March 11, 2025. Quisitive's management team, headed by CEO Mike Reinhart, will continue to lead the Company. Quisitive Technology Solutions received the final order from the Supreme Court of British Columbia approving the transaction on March 4, 2025, and the shares are expected to be delisted from the TSX Venture Exchange after the end of trading on March 12, 2025. Annuncio • Jan 03
H.I.G. Capital, LLC entered into an agreement to acquire Quisitive Technology Solutions, Inc. (TSXV:QUIS) for CAD 170 million in equity reinvestment transaction. H.I.G. Capital, LLC entered into an agreement to acquire Quisitive Technology Solutions, Inc. (TSXV:QUIS) for CAD 170 million in equity reinvestment transaction on December 31, 2024. Under the terms of the agreement, shareholders will receive CAD 0.57 per Share in cash. The rollover shareholders will roll certain of their shares in the Quisitive Technology Solutions for equity interests in H.I.G and an affiliated entity of H.I.G. All rollovers will occur at a value per share equal to the cash purchase price. The purchase price of the transaction represents a total equity value of approximately CAD 169.1 million. The Quisitive Technology Solutions expects to hold the Special Meeting of shareholders to consider the transaction in March 2025.
The transaction has been unanimously approved by Quisitive Technology board of directors. The transaction is subject to Quisitive Technology shareholder approval, approval of the Supreme Court of British Columbia, in addition to certain regulatory approvals and closing conditions customary to a transaction of this nature. The Transaction is expected to close in the first quarter of 2025.
Weil, Gotshal & Manges LLP and Stikeman Elliott LLP acted as legal advisors to H.I.G. Capital. William Blair & Company, L.L.C. and Canaccord Genuity Corp. acted as financial advisor and fairness opinion provider to Quisitive Technology Solutions. Cassels Brock & Blackwell LLP and Bass, Berry & Sims PLC acted as legal counsel to the Quisitive Technology Solutions. Annuncio • Nov 26
Quisitive Technology Solutions, Inc. Provides Revenue Guidance for Fiscal Year 2024 Quisitive Technology Solutions, Inc. provided revenue guidance for fiscal year 2024. For the year, the company expects Revenue from Continuing Operations of $119,000,000 to $121,000,000. Annuncio • Nov 12
Quisitive Technology Solutions, Inc. to Report Q3, 2024 Results on Nov 25, 2024 Quisitive Technology Solutions, Inc. announced that they will report Q3, 2024 results at 4:00 PM, US Eastern Standard Time on Nov 25, 2024 New Risk • Aug 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Market cap is less than US$100m (€72.3m market cap, or US$80.9m). Annuncio • Aug 23
Quisitive Technology Solutions, Inc. Reaffirms Earnings Guidance for the Fiscal Year 2024 Quisitive Technology Solutions, Inc. reaffirmed earnings guidance for the fiscal year 2024. For the year, the company expected revenue from continuing operations of $120,000,000 to $130,000,000. Reported Earnings • Aug 21
Second quarter 2024 earnings released: US$0.006 loss per share (vs US$0.009 loss in 2Q 2023) Second quarter 2024 results: US$0.006 loss per share (improved from US$0.009 loss in 2Q 2023). Revenue: US$29.6m (down 35% from 2Q 2023). Net loss: US$1.90m (loss narrowed 41% from 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Breakeven Date Change • Aug 21
Forecast breakeven date pushed back to 2025 The 8 analysts covering Quisitive Technology Solutions previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 76% to 2024. The company is expected to make a profit of US$4.41m in 2025. Average annual earnings growth of 168% is required to achieve expected profit on schedule. Annuncio • Aug 07
Quisitive Technology Solutions, Inc. to Report Q2, 2024 Results on Aug 20, 2024 Quisitive Technology Solutions, Inc. announced that they will report Q2, 2024 results on Aug 20, 2024 Annuncio • Jun 25
Quisitive Technology Solutions, Inc., Annual General Meeting, Aug 14, 2024 Quisitive Technology Solutions, Inc., Annual General Meeting, Aug 14, 2024. Annuncio • May 24
Quisitive Technology Solutions, Inc. Provides Financial Guidance for Fiscal Year 2024 Quisitive Technology Solutions, Inc. provided financial guidance for fiscal year 2024. The company expects fiscal year 2024 revenue from continuing operations of $120,000,000 to $130,000,000. Annuncio • May 11
Quisitive Technology Solutions, Inc. to Report Q1, 2024 Results on May 22, 2024 Quisitive Technology Solutions, Inc. announced that they will report Q1, 2024 results on May 22, 2024 Breakeven Date Change • May 02
Forecast breakeven date moved forward to 2024 The 8 analysts covering Quisitive Technology Solutions previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$825.0k in 2024. Earnings growth of 144% is required to achieve expected profit on schedule. Reported Earnings • May 01
Full year 2023 earnings released: US$0.031 loss per share (vs US$0.023 loss in FY 2022) Full year 2023 results: US$0.031 loss per share (further deteriorated from US$0.023 loss in FY 2022). Revenue: US$121.2m (down 35% from FY 2022). Net loss: US$11.7m (loss widened 40% from FY 2022). Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Annuncio • Apr 20
Quisitive Technology Solutions, Inc. Announces Executive Appointments Quisitive Technology Solutions, Inc. announced the appointment of Dan Kunz as its Executive Vice President of its Microsoft Cloud and AI Global Delivery Organization effective April 15, 2024. Dan joins Lane Sorgen, Executive Vice President of Sales and Marketing as leaders of Quisitive Cloud and AI Solutions. Dan brings over 25 years of portfolio expansion, customer relations, global talent management, P&L management, sales, and operations experience across the IT services industry. Most recently, he served as Managing Director at Accenture where he spearheaded multiple modernization programs including cloud and business transformation. Prior to that, Dan was a Partner at IBM where he led multiple cloud adoption and migration programs. He holds an MBA in Technology Management from the University of Phoenix. Dan will lead delivery of solutions and services to customers with a focus on customer satisfaction, technical expertise, and innovative service offerings. Lane also brings over 25 years of experience with prior roles as Regional Vice President at Microsoft. He has a depth of experience leading sales organizations, driving offers to market, and navigating the Microsoft ecosystem. Lane will lead the sales and marketing organization for Quisitive with an integrated go-to-market strategy, including oversight of AI innovation, industry transformation, and Microsoft partnership. Lane and Dan will work symbiotically in lockstep to elevate Quisitive’s Cloud Solutions strategy, operations, and execution. Dan Kunz will report to Mike Reinhart, becoming part of the Quisitive executive team that includes Lane Sorgen, Tami Anders, Chief of Staff and Executive Vice President of People and Culture; Steven Balusek, Executive Vice President of IT and Innovation; and Scott Meriwether, Chief Financial Officer. Annuncio • Apr 16
Quisitive Technology Solutions, Inc. to Report Q4, 2023 Results on Apr 29, 2024 Quisitive Technology Solutions, Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Apr 29, 2024 New Risk • Apr 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Shareholders have been diluted in the past year (10% increase in shares outstanding). Breakeven Date Change • Mar 29
Forecast breakeven date pushed back to 2025 The 8 analysts covering Quisitive Technology Solutions previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of US$5.43m in 2025. Average annual earnings growth of 114% is required to achieve expected profit on schedule. Annuncio • Jan 30
Fulcrum IT Partners completed the acquisition of PayiQ, Inc. from Quisitive Technology Solutions, Inc. (TSXV:QUIS) for $45 million. Fulcrum IT Partners entered into an agreement to acquire PayiQ, Inc. from Quisitive Technology Solutions, Inc. (TSXV:QUIS) on November 28, 2023. The consideration for the sale of the PayiQ subsidiary will consist of the issuance of 27,000 preferred shares of Fulcrum Payments to Quisitive. On the third anniversary of the effective date of the Transaction, the Consideration Shares shall be automatically converted into common shares of Fulcrum Payments with a value equal to $1,000 per share, provided that the common shares of Fulcrum are listed and posted for trading on a recognized stock exchange in Canada or the United States. Quisitive may also be entitled to additional contingent consideration in the form of performance earn-outs if PayiQ achieves certain financial thresholds during the three-year period following the closing of the Transaction. The amount of the earn-out is a maximum of $18,000,000 payable in cash based on PayiQ exceeding revenue growth targets. If Fulcrum’s common shares are not publicly traded at such time, Quisitive shall have the right to require Fulcrum to purchase all or a portion of the Consideration Shares for a purchase price equal to $1,000 per share, for aggregate consideration of up to $27 million. Completion of the Transaction is subject to a number of standard conditions and is expected to close on or about December 31, 2023. Jordan Taylor of Holland & Knight LLP acted as legal advisor to Fulcrum Payment Solutions, Inc.
Fulcrum IT Partners completed the acquisition of PayiQ, Inc. from Quisitive Technology Solutions, Inc. (TSXV:QUIS) on January 29, 2024. New Risk • Dec 01
New major risk - Revenue and earnings growth Earnings have declined by 9.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Market cap is less than US$100m (€84.1m market cap, or US$91.5m). Breakeven Date Change • Nov 30
Forecast to breakeven in 2024 The 8 analysts covering Quisitive Technology Solutions expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$6.02m in 2024. Average annual earnings growth of 167% is required to achieve expected profit on schedule. Annuncio • Nov 29
Fulcrum IT Partners entered into an agreement to acquire PayiQ, Inc. Fulcrum IT Partners entered into an agreement to acquire PayiQ, Inc. on November 28, 2023. The consideration for the sale of the PayiQ subsidiary will consist of the issuance of 27,000 preferred shares of Fulcrum Payments to Quisitive. Quisitive may also be entitled to additional contingent consideration in the form of performance earn-outs if PayiQ achieves certain financial thresholds during the three-year period following the closing of the Transaction. The amount of the earn-out is a maximum of US$18,000,000 payable in cash based on PayiQ exceeding revenue growth targets. Completion of the Transaction is subject to a number of standard conditions and is expected to close on or about December 31, 2023. Annuncio • Nov 21
Quisitive Technology Solutions, Inc. to Report Q3, 2023 Results on Nov 29, 2023 Quisitive Technology Solutions, Inc. announced that they will report Q3, 2023 results on Nov 29, 2023 Annuncio • Oct 13
Quisitive Technology Solutions, Inc. Announces Directors Appointments Quisitive Technology Solutions, Inc. announced the appointment of two new directors to the board of directors of the Company, effective immediately. The Company welcomes Nick Lim and Darcy Morris as directors of the Company as the result of a process to refresh the Board in light of concerns raised by certain shareholders of the Company. Additionally, Phil Sorgen has resigned. As a result of the changes to the Board, the Board is comprised of six directors: Mike Reinhart, the CEO; and five directors the Board has determined to be independent: Dave Guebert (Audit Chair), Laurie Goldberg, Amy Brandt, Nick Lim and Darcy Morris. Nick Lim is a Managing Director of FAX Capital Corp. which he joined in 2019, and has approximately 20 years of experience in the financial services industry. Prior to joining FAX, Mr. Lim spent two years with Hamblin Watsa Investment Counsel, Fairfax Financial Holdings Limited’s investment management subsidiary, where he served as Vice President focused on private investments, credit investments and real estate. Prior to that, Mr. Lim served seven years at Brookfield Asset Management in the private equity group and public securities group as a member of their respective investment teams. While at Brookfield, Mr. Lim was involved in the turnaround of North American Palladium, a publicly-listed specialty metals company. Mr. Lim is currently a board member of Carson Dunlop & Associates Ltd., a leading home inspection services and technology platform, and previously sat on the boards of Toys “R” Us Canada and Trisura Guarantee Insurance Company. Mr. Lim graduated from the University of Toronto with a Bachelor in Applied Science (Industrial Engineering) and is a CFA Charterholder.Darcy Morris has served as the Chief Executive Officer and Co-President of Ewing Morris & Co. Investment Partners (“Ewing Morris”) since co-founding the company in 2011. Darcy is currently on the board of directors of The Caldwell Partners International Inc. and previously served on the board of ZCL Composites Inc. and Cedar Realty Trust. In addition, he is the former Chair of the Art Gallery of Ontario (AGO) Foundation and former Treasurer of the Toronto Public Library Foundation. Prior to co-founding Ewing, Darcy was a Portfolio Manager at MacDougall, MacDougall & MacTier Inc. and an Associate at Burgundy Asset Management. Darcy received an Honours Bachelor of Arts (Political Studies) degree from Queen's University in 2004 and was awarded the Canadian Investment Manager designation in 2010. Annuncio • Oct 05
Quisitive Technology Solutions, Inc. Announces Board Resignations Quisitive Technology Solutions, Inc. announced via press release their intention to requisition a special meeting of shareholders of the company for the purpose of removing and replacing David Guebert, Philip Sorgen and Amy Brandt as members of the board of directors of the company. Reported Earnings • Aug 29
Second quarter 2023 earnings released: US$0.009 loss per share (vs US$0.001 loss in 2Q 2022) Second quarter 2023 results: US$0.009 loss per share (further deteriorated from US$0.001 loss in 2Q 2022). Revenue: US$45.3m (down 4.8% from 2Q 2022). Net loss: US$3.42m (loss widened US$3.09m from 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Annuncio • Aug 23
Quisitive Technology Solutions, Inc. Launches Mazikcare Care Planner, A Leading-Edge Patient Treatment Pathing Application for Healthcare Providers Quisitive Technology Solutions Inc. has announced the launch of MazikCare Care Planner, a new care treatment pathing application designed to streamline patient care coordination and improve communication between healthcare providers and patients. Care Planner allows healthcare networks, from hospital chains to independent physician offices and care clinics, to set up treatment templates that enable care teams to treat patients in a pre-set structured format. The system automates follow-up tasks, reminders, and appointments, while also designating specific assessments based on the patient's treatment path. This uniform approach ensures that the care team can be more efficient in their patient-facing actions, minimizing back-end and follow-up work per patient, enabling healthcare providers to see and treat more patients each day. Care Planner is a part of Quisitive's MazikCare healthcare cloud platform and leverages Microsoft Dynamics, Azure, and Power Platform technology to provide a quick, secure, and scalable digital health solution to organizations in healthcare. This most recent launch of a new offering represents an additional use case for the powerful MazikCare suite of tools for healthcare organizations. The Company continues to listen closely to the feedback of healthcare providers and develops solutions that solve their most critical challenges by combining subject matter expertise with deep technical skills. Annuncio • Aug 11
Quisitive Technology Solutions, Inc. to Report Q2, 2023 Results on Aug 29, 2023 Quisitive Technology Solutions, Inc. announced that they will report Q2, 2023 results on Aug 29, 2023 Annuncio • Jul 01
Quisitive Technology Solutions, Inc. has completed a Follow-on Equity Offering in the amount of CAD 6.02 million. Quisitive Technology Solutions, Inc. has completed a Follow-on Equity Offering in the amount of CAD 6.02 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 17,200,000
Price\Range: CAD 0.35
Discount Per Security: CAD 0.021
Transaction Features: Rule 144A New Risk • Jun 30
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €88.4m (US$96.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (US$3.9m net loss next year). Share price has been volatile over the past 3 months (9.6% average weekly change). Shareholders have been diluted in the past year (6.3% increase in shares outstanding). Market cap is less than US$100m (€88.4m market cap, or US$96.1m). Annuncio • Jun 22
Quisitive Technology Solutions, Inc. announced that it expects to receive CAD 6.02 million in funding from Ewing Morris & Co. Investment Partners Quisitive Technology Solutions, Inc. announced that it has entered into an agreement and bought deal private placement to issue 17,200,000 common shares at a price of CAD 0.35 per Share for the gross proceeds of CAD 6,020,000 on June 21, 2023. The transaction included participation from new investor Ewing Morris & Co. Investment Partners for CAD 5,000,000. In connection with the transaction, the Underwriters will receive a cash commission equal to 6% of the gross proceeds from the sale of the Offered Shares. The Closing of the Offering is expected to occur on or about June 30, 2023 and is subject to the approval of the TSX Venture Exchange (“TSXV”) and other necessary regulatory approvals. The Company has granted the Underwriters an option, exercisable, in whole or in part, at any time not later than the 30th day following the closing of the Offering, to purchase up to an additional 2,580,000 Offered Shares at the Issue Price for market stabilization purposes and to cover over-allotments, If the Over-Allotment Option is exercised in full, the total gross proceeds of the Offering will be approximately CAD 6,900,000. Annuncio • Jun 13
Quisitive Technology Solutions, Inc. Adds Managed Detection & Response to Security Services Portfolio Quisitive Technology Solutions Inc. announced that it is adding 24x7x365 Managed Detection and Response (MDR) capabilities to its services portfolio, as an integrated service within its Spyglass Security solution and Azure Management Services solution. Quisitive has selected CRITICALSTART®? a leading partner in Microsoft Managed Extended Detection and Response (MXDR) security services program, as well as a member of the Microsoft Intelligent Security Association (MISA), as a partner to augment Quisitive's portfolio of enterprise security and compliance solutions. Security and managed services continue to be high-demand areas for enterprise customers to manage cybersecurity risks and ensure business continuity and optimal performance. MDR is a proactive approach to cybersecurity that combines advanced technology, expert analysts, and 24x7x365 threat monitoring and response activities. By submitting to Quisitive's security solutions, customers will be able to enhance visibility and protection across their endpoints, cloud, email, and filesharing. Adding MDR capabilities broadens the scope of Quisitive's security services, reduces the time to detect and respond to threats, and minimizes the impact of breaches for customers. Quisitive's Spyglass Security and Compliance solution leverages Microsoft's extensive security portfolio to reduce the complexity and cost of managing multiple security tools and vendors. In addition to implementing and maintaining security technology, Quisitive also provides customers with a dedicated team of security experts who act as an extension of their IT staff, with seamless coverage around the clock. Critical Start augments Quisitive's security offerings by adding MDR, a new security operations center (SOC), security software solutions, research capabilities, and threat hunting, all backed by deep Microsoft expertise. These added capabilities, combined with Quisitive's robust security services offerings, provide customers comprehensive protection with a centralized view of their security landscape, as well as security coaching and 24x7x365 monitoring. Reported Earnings • May 17
First quarter 2023 earnings released: US$0.006 loss per share (vs US$0.004 loss in 1Q 2022) First quarter 2023 results: US$0.006 loss per share (further deteriorated from US$0.004 loss in 1Q 2022). Revenue: US$48.3m (up 7.5% from 1Q 2022). Net loss: US$2.32m (loss widened 85% from 1Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Annuncio • May 09
Quisitive Technology Solutions, Inc. to Report Q1, 2023 Results on May 16, 2023 Quisitive Technology Solutions, Inc. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on May 16, 2023 Reported Earnings • Apr 08
Full year 2022 earnings released: US$0.023 loss per share (vs US$0.058 loss in FY 2021) Full year 2022 results: US$0.023 loss per share (improved from US$0.058 loss in FY 2021). Revenue: US$187.3m (up 94% from FY 2021). Net loss: US$8.37m (loss narrowed 49% from FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: US$0.005 loss per share (vs US$0.009 loss in 3Q 2021) Third quarter 2022 results: US$0.005 loss per share (improved from US$0.009 loss in 3Q 2021). Revenue: US$48.8m (up 76% from 3Q 2021). Net loss: US$1.85m (loss narrowed 37% from 3Q 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 102% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 20
Second quarter 2022 earnings released: US$0.001 loss per share (vs US$0.011 loss in 2Q 2021) Second quarter 2022 results: US$0.001 loss per share (up from US$0.011 loss in 2Q 2021). Revenue: US$47.6m (up 107% from 2Q 2021). Net loss: US$331.0k (loss narrowed 89% from 2Q 2021). Over the next year, revenue is forecast to grow 28%, compared to a 7.8% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 27
First quarter 2022 earnings released: US$0.004 loss per share (vs US$0.01 loss in 1Q 2021) First quarter 2022 results: US$0.004 loss per share (up from US$0.01 loss in 1Q 2021). Revenue: US$44.9m (up 256% from 1Q 2021). Net loss: US$1.45m (loss narrowed 24% from 1Q 2021). Over the next year, revenue is forecast to grow 47%, compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 22
Full year 2021 earnings released: US$0.058 loss per share (vs US$0.068 loss in FY 2020) Full year 2021 results: US$0.058 loss per share. Revenue: US$96.7m (up 94% from FY 2020). Net loss: US$16.3m (loss widened 60% from FY 2020). Over the next year, revenue is forecast to grow 91%, compared to a 14% growth forecast for the industry in Germany. Reported Earnings • Nov 23
Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2021 results: US$0.009 loss per share (up from US$0.011 loss in 3Q 2020). Revenue: US$27.8m (up 119% from 3Q 2020). Net loss: US$2.93m (loss widened 49% from 3Q 2020). Revenue exceeded analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 95%, compared to a 29% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 104% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 31
Second quarter 2021 earnings released: US$0.011 loss per share (vs US$0.052 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$23.0m (up 75% from 2Q 2020). Net loss: US$2.88m (loss narrowed 51% from 2Q 2020). Reported Earnings • May 27
First quarter 2021 earnings released: US$0.01 loss per share (vs US$0.038 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$12.6m (up 16% from 1Q 2020). Net loss: US$1.90m (loss narrowed 56% from 1Q 2020). Annuncio • May 08
Quisitive Technology Solutions, Inc. (TSXV:QUIS) completed the acquisition of BankCard USA Merchant Services Inc. Quisitive Technology Solutions, Inc. (TSXV:QUIS) entered into a stock purchase agreement to acquire BankCard USA Merchant Services Inc. for approximately $190 million on March 29, 2021. Pursuant to the terms of transaction, Quisitive will pay $100 million in cash and issue 50 million common shares. The shareholders may also be entitled to additional contingent consideration in the form of a performance earn-out if BankCard achieves certain financial thresholds during the two-year period following the closing of the Transaction. The amount of the earn-out is a maximum of $20 million payable in a combination of cash and common shares. BankCard shareholders have agreed to a 24-month lock-up agreement on the common shares with 25% of common shares released on each 6-month anniversary of the transaction. The transaction is being financed through a combination of new bank debt and equity. Quisitive has secured committed debt financing from a syndicate of Canadian banks pursuant to an amendment to the terms of an existing loan agreement to increase the maximum commitment under the existing term loan by $50 million and if the over-allotment option is exercised in full, the total gross proceeds of the Offering will be $57.6 million which shall be used to fund a portion of the transaction. Quisitive has also entered into an agreement pursuant to which Scotiabank, Eight Capital and Canaccord Genuity, as joint bookrunners, together with a syndicate of underwriters will purchase on a “bought deal” basis 33.4 million subscription receipts of Quisitive at a price of $1.5 for aggregate gross proceeds to Quisitive of $50.1 million and net proceeds from the offering will be used to partially fund the cash portion of the transaction. Another concurrent private placement for gross proceeds of $5 million is being carried out and the proceeds will be used to partially fund the cash consideration portion of the consideration.
BankCard recorded revenue of $29 million and EBITDA of $11 million for the period ended September 30, 2020. As a condition to closing, Quisitive will also enter into employment agreements with key BankCard management. The transaction is also subject to TSX Venture Exchange and other necessary regulatory approvals, and the receipt of third-party consents, among others. Closing of the transaction is expected to occur in the second quarter of calendar 2021. The transaction is accretive to the Quisitive. Scotiabank acted as financial advisor for Quisitive, while Cassels Brock & Blackwell and Jaffe Raitt Heuer & Weiss acted as legal advisors for Quisitive. Elmcore Securities acted as financial advisor while Stikeman Elliott LLP and Roxborough Pomerance Nye & Adreani acted as legal advisors for BankCard. Gardiner Roberts LLP is acting as counsel to the lenders on the debt financing. Scotia Capital Inc. acted as financial advisor to Quisitive Technology Solutions, Inc. U.S. Bank National Association, Investment Banking Arm acted as Escrow Agent to Quisitive Technology Solutions, Inc.
Quisitive Technology Solutions, Inc. (TSXV:QUIS) completed the acquisition of BankCard USA Merchant Services Inc. on May 7, 2021. Reported Earnings • Apr 24
Full year 2020 earnings released: US$0.068 loss per share (vs US$0.083 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: US$49.8m (up 169% from FY 2019). Net loss: US$10.2m (loss widened 39% from FY 2019). Annuncio • Apr 10
Quisitive Technology Solutions, Inc. announced that it has received CAD 5 million in funding from FAX Capital Corp. On April 8, 2021, Quisitive Technology Solutions, Inc. (TSXV:QUIS) closed the transaction. The company paid a cash commission aggregating CAD 350,000 in the transaction to the placement agents. The securities issued in the transaction are subjected to statutory hold period of four months from the date of issuance of the Subscription Receipts. Annuncio • Mar 24
Quisitive Technology Solutions, Inc. announced that it has received CAD 20 million in funding from FAX Capital Corp. On March 22, 2021, Quisitive Technology Solutions, Inc. (TSXV:QUIS) closed the transaction. In connection with the transaction, the company paid fees aggregating CAD 1,400,000. In addition to a contractual lock-up of 12 months, the common shares issued are subject to a statutory four month and one day hold period. Annuncio • Mar 10
Quisitive Technology Solutions, Inc. announced that it expects to receive CAD 20 million in funding from FAX Capital Corp. Quisitive Technology Solutions, Inc. (TSXV:QUIS) announced a non-brokered private placement of 16,000,000 common shares at a price of CAD 1.25 per share for the gross proceeds of CAD 20,000,000 on March 8, 2021. The transaction will include participation from new investor FAX Capital Corp. (TSX:FXC). The transaction is expected to close in Mid-march and remains subject to the execution of final documentation and the approval of the TSX Venture Exchange. Post completion of transaction, the investor will hold 7.6% of the company and will receive a capital commitment fee payment from the Company equal to 3.5 per cent of the aggregate subscription amount. The securities issued in the transaction are subject to 12 months lockup period. Annuncio • Mar 05
Quisitive Technology Solutions, Inc. Achieves Microsoft Co-Sell Ready Status for LedgerPay Quisitive Technology Solutions, Inc. announced that it has achieved Microsoft IP Azure Co-sell Ready status for its LedgerPay solution, which officially activates Microsoft's sales team in assisting with commercializing the product. Microsoft initially kickstarted the co-sell program to allow Microsoft and its top partners to drive joint sales initiatives more effectively by synergistically going to market together. In order to earn the co-sell status, partners are required to have a commercial-ready solution that completes technical validations, an in-house sales team, and a robust go-to-market strategy. LedgerPay is the only combined payment processing and payment intelligence platform on the Microsoft Azure cloud that transforms everyday credit or debit purchase transaction data into seamless customer loyalty for e-commerce and brick-and-mortar merchants. As the Company finalizes its recently announced bank sponsorship, earning the co-sell status will officially activate Microsoft's sales team and expand the LedgerPay sales footprint. Is New 90 Day High Low • Feb 07
New 90-day high: €0.77 The company is up 35% from its price of €0.56 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.11 per share. Is New 90 Day High Low • Dec 24
New 90-day high: €0.68 The company is up 65% from its price of €0.41 on 25 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.11 per share. Annuncio • Dec 12
Quisitive Technology Solutions Inc. Announces to Forms Strategic Relationship with Stewart Title Quisitive Technology Solutions Inc. announced to formed a strategic relationship with Stewart Title to drive its rapid application development and migration to the Microsoft Azure cloud. As part of the process, and due to a successful prior engagement, Stewart engaged Quisitive to accelerate their vision of leveraging the public cloud to better serve the business and customers. With the added capabilities of the Microsoft Azure cloud, Stewart is able to reorganize its previous infrastructure and processes and now rapidly develop an advanced set of digitized applications that will set itself up for success in the near- and long-term. More specifically, Quisitive will assist in quickly developing new customized cloud-based applications to enhance a data driven business-to-consumer, or "B2C," experience. As a result of the collaboration, Stewart will have the capacity to develop a fully operational product within just 45 days; normally a process that would take multiple months to complete. The collaboration provides Stewart with the flexibility to go to market at an expedited rate, giving itself an edge against competitors. Under the terms of the annual agreement, the Company will serve as Stewart's IT services provider for Microsoft-centric initiatives, including application development (web + mobile), data and analytics, and Azure cloud optimization.