Announcement • Dec 11
2745122 Alberta Inc completed the acquisition of Quorum Information Technologies Inc. (TSXV:QIS). 2745122 Alberta Inc agreed to acquire Quorum Information Technologies Inc. (TSXV:QIS) for CAD 58.9 million on September 22, 2025. A cash consideration of CAD 63.1 million valued at CAD 0.8 per share will be paid by Valsoft Corporation Inc. As part of consideration, CAD 4.19 million is paid towards Restricted Stock Unit common equity and CAD 58.91 million is paid towards common equity of Quorum Information Technologies Inc. In case of termination of transaction, seller will pay a termination fee of CAD 2.20 million.
he Board of Quorum has unanimously approved the transaction. The transaction is subject to approval of offer by target shareholders, subject to court approval and third party approval needed. The Board of Directors of Quorum Information Technologies Inc. formed a special committee for the transaction. In connection with and subject to the closing of the Transaction, Quorum will apply to have its Shares delisted from the TSX-V and to cease to be a reporting issuer under Canadian securities laws. The Transaction is expected to close in Q4 2025. On November 26, 2025, it was announced that the closing date for the Arrangement has not yet been established but is expected to be in early December 2025. Quorum is also pleased to announce that earlier today the Court of King's Bench of Alberta granted a final order approving the Arrangement and that the shareholders of Quorum have approved the transaction.
TD Securities, Inc. acted as financial advisor for Quorum Information Technologies Inc. McLeod Law LLP acted as legal advisor for Quorum Information Technologies Inc. Blake, Cassels & Graydon LLP acted as legal advisor for Valsoft Corporation Inc. TD Securities Inc advised a fairness opinion to Special Committee formed by Quorum Information Technologies.
2745122 Alberta Inc completed the acquisition of Quorum Information Technologies Inc. (TSXV:QIS) on December 10, 2025 Reported Earnings • Nov 21
Third quarter 2025 earnings released: EPS: CA$0.004 (vs CA$0.011 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.004 (down from CA$0.011 in 3Q 2024). Revenue: CA$10.0m (flat on 3Q 2024). Net income: CA$313.9k (down 60% from 3Q 2024). Profit margin: 3.1% (down from 7.9% in 3Q 2024). Revenue is forecast to grow 2.0% 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 88% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Nov 06
Quorum Information Technologies Inc. to Report Q3, 2025 Results on Nov 19, 2025 Quorum Information Technologies Inc. announced that they will report Q3, 2025 results After-Market on Nov 19, 2025 Price Target Changed • Sep 24
Price target decreased by 11% to CA$0.80 Down from CA$0.90, the current price target is provided by 1 analyst. New target price is 14% above last closing price of CA$0.70. The company posted earnings per share of CA$0.035 last year. Announcement • Sep 23
Valsoft Corporation Inc. agreed to acquire Quorum Information Technologies Inc. (TSXV:QIS) from BDC Capital Inc. for CAD 63.1 million. Valsoft Corporation Inc. agreed to acquire Quorum Information Technologies Inc. (TSXV:QIS) from BDC Capital Inc. for CAD 63.1 million on September 22, 2025. A cash consideration of CAD 63.1 million valued at CAD 0.8 per share will be paid by Valsoft Corporation Inc. As part of consideration, CAD 4.19 million is paid towards Restricted Stock Unit common equity and CAD 58.91 million is paid towards common equity of Quorum Information Technologies Inc. In case of termination of transaction, seller will pay a termination fee of CAD 2.20 million.
he Board of Quorum has unanimously approved the transaction. The transaction is subject to approval of offer by target shareholders, subject to court approval and third party approval needed. The Board of Directors of Quorum Information Technologies Inc. formed a special committee for the transaction. In connection with and subject to the closing of the Transaction, Quorum will apply to have its Shares delisted from the TSX-V and to cease to be a reporting issuer under Canadian securities laws. The Transaction is expected to close in Q4 2025.
TD Securities, Inc. acted as financial advisor for Quorum Information Technologies Inc. McLeod Law LLP acted as legal advisor for Quorum Information Technologies Inc. Blake, Cassels & Graydon LLP acted as legal advisor for Valsoft Corporation Inc. TD Securities Inc advised a fairness opinion to Special Committee formed by Quorum Information Technologies. Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CA$0.005 (vs CA$0.005 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.005 (in line with 2Q 2024). Revenue: CA$10.3m (up 3.3% from 2Q 2024). Net income: CA$395.4k (up 1.6% from 2Q 2024). Profit margin: 3.8% (down from 3.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat 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 103% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Aug 14
Quorum Information Technologies Inc. to Report Q2, 2025 Results on Aug 27, 2025 Quorum Information Technologies Inc. announced that they will report Q2, 2025 results at 4:00 PM, US Eastern Standard Time on Aug 27, 2025 Announcement • Jul 02
Quorum Information Technologies Inc., Annual General Meeting, Aug 29, 2025 Quorum Information Technologies Inc., Annual General Meeting, Aug 29, 2025. Location: alberta, calgary Canada Board Change • Jun 10
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman Bill Nurthen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Jun 05
Price target decreased by 15% to CA$0.85 Down from CA$1.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of CA$0.87. Stock is up 13% over the past year. The company posted earnings per share of CA$0.035 last year. Reported Earnings • May 29
First quarter 2025 earnings released: EPS: CA$0.001 (vs CA$0.015 in 1Q 2024) First quarter 2025 results: EPS: CA$0.001 (down from CA$0.015 in 1Q 2024). Revenue: CA$10.2m (flat on 1Q 2024). Net income: CA$52.5k (down 95% from 1Q 2024). Profit margin: 0.5% (down from 11% in 1Q 2024). Revenue is forecast to grow 1.1% 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 109% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • May 15
Quorum Information Technologies Inc. to Report Q1, 2025 Results on May 28, 2025 Quorum Information Technologies Inc. announced that they will report Q1, 2025 results After-Market on May 28, 2025 Reported Earnings • Apr 18
Full year 2024 earnings released: EPS: CA$0.035 (vs CA$0.003 in FY 2023) Full year 2024 results: EPS: CA$0.035 (up from CA$0.003 in FY 2023). Revenue: CA$40.0m (flat on FY 2023). Net income: CA$2.55m (up CA$2.31m from FY 2023). Profit margin: 6.4% (up from 0.6% in FY 2023). Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 03
Quorum Information Technologies Inc. to Report Q4, 2024 Results on Apr 16, 2025 Quorum Information Technologies Inc. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Apr 16, 2025 Reported Earnings • Nov 21
Third quarter 2024 earnings released: EPS: CA$0.011 (vs CA$0.004 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.011 (up from CA$0.004 loss in 3Q 2023). Revenue: CA$9.93m (down 4.5% from 3Q 2023). Net income: CA$788.3k (up CA$1.11m from 3Q 2023). Profit margin: 7.9% (up from net loss in 3Q 2023). Revenue is forecast to grow 2.5% 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 92% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Nov 07
Quorum Information Technologies Inc. to Report Q3, 2024 Results on Nov 20, 2024 Quorum Information Technologies Inc. announced that they will report Q3, 2024 results After-Market on Nov 20, 2024 New Risk • Aug 26
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.4% Last year net profit margin: 2.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (CA$69.9m market cap, or US$51.7m). Price Target Changed • Aug 23
Price target increased by 25% to CA$1.00 Up from CA$0.80, the current price target is provided by 1 analyst. New target price is 5.3% above last closing price of CA$0.95. Stock is up 51% over the past year. The company posted earnings per share of CA$0.0032 last year. Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: CA$0.005 (vs CA$0.007 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.005 (down from CA$0.007 in 2Q 2023). Revenue: CA$9.95m (flat on 2Q 2023). Net income: CA$389.0k (down 22% from 2Q 2023). Profit margin: 3.9% (down from 4.9% in 2Q 2023). Revenue is forecast to grow 4.9% 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 77% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Aug 08
Quorum Information Technologies Inc. to Report Q2, 2024 Results on Aug 21, 2024 Quorum Information Technologies Inc. announced that they will report Q2, 2024 results After-Market on Aug 21, 2024 Announcement • Jul 02
Quorum Information Technologies Inc., Annual General Meeting, Aug 28, 2024 Quorum Information Technologies Inc., Annual General Meeting, Aug 28, 2024. Location: alberta, calgary Canada Reported Earnings • May 30
First quarter 2024 earnings released: EPS: CA$0.015 (vs CA$0.008 loss in 1Q 2023) First quarter 2024 results: EPS: CA$0.015 (up from CA$0.008 loss in 1Q 2023). Revenue: CA$10.1m (up 1.6% from 1Q 2023). Net income: CA$1.12m (up CA$1.68m from 1Q 2023). Profit margin: 11% (up from net loss in 1Q 2023). Revenue is forecast to grow 4.1% 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 53% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • May 17
Quorum Information Technologies Inc. to Report Q1, 2024 Results on May 29, 2024 Quorum Information Technologies Inc. announced that they will report Q1, 2024 results After-Market on May 29, 2024 Reported Earnings • Apr 25
Full year 2023 earnings released: EPS: CA$0.003 (vs CA$0.019 loss in FY 2022) Full year 2023 results: EPS: CA$0.003 (up from CA$0.019 loss in FY 2022). Revenue: CA$40.3m (up 3.8% from FY 2022). Net income: CA$234.0k (up CA$1.65m from FY 2022). Profit margin: 0.6% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Apr 12
Quorum Information Technologies Inc. to Report Fiscal Year 2023 Results on Apr 24, 2024 Quorum Information Technologies Inc. announced that they will report fiscal year 2023 results at 4:00 PM, US Eastern Standard Time on Apr 24, 2024 Price Target Changed • Dec 03
Price target decreased by 11% to CA$0.80 Down from CA$0.90, the current price target is provided by 1 analyst. New target price is 27% above last closing price of CA$0.63. Stock is down 19% over the past year. The company posted a net loss per share of CA$0.019 last year. Reported Earnings • Dec 01
Third quarter 2023 earnings released: CA$0.004 loss per share (vs CA$0.005 loss in 3Q 2022) Third quarter 2023 results: CA$0.004 loss per share (improved from CA$0.005 loss in 3Q 2022). Revenue: CA$10.4m (up 5.5% from 3Q 2022). Net loss: CA$317.5k (loss narrowed 19% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Nov 17
Quorum Information Technologies Inc. to Report Q3, 2023 Results on Nov 29, 2023 Quorum Information Technologies Inc. announced that they will report Q3, 2023 results After-Market on Nov 29, 2023 Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: CA$0.007 (vs CA$0.003 loss in 2Q 2022) Second quarter 2023 results: EPS: CA$0.007 (up from CA$0.003 loss in 2Q 2022). Revenue: CA$10.0m (up 2.3% from 2Q 2022). Net income: CA$496.1k (up CA$751.8k from 2Q 2022). Profit margin: 4.9% (up from net loss in 2Q 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Aug 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (CA$47.7m market cap, or US$35.2m). Announcement • Aug 10
Quorum Information Technologies Inc. to Report Q2, 2023 Results on Aug 23, 2023 Quorum Information Technologies Inc. announced that they will report Q2, 2023 results After-Market on Aug 23, 2023 Announcement • Jun 27
Quorum Information Technologies Inc., Annual General Meeting, Aug 25, 2023 Quorum Information Technologies Inc., Annual General Meeting, Aug 25, 2023. Announcement • Jun 07
An unknown buyer entered in to a share purchase agreement to acquire an additional 5.5% minority stake in Quorum Information Technologies Inc. (TSXV:QIS) for CAD 2.5 million. An unknown buyer entered in to a share purchase agreement to acquire an additional 5.5% minority stake in Quorum Information Technologies Inc. (TSXV:QIS) for CAD 2.5 million on June 5, 2023. Buyer acquired 4,049,042 Quorum Shares for consideration of CAD 0.62 per share. Post transaction, buyer owns 6,618,500 Quorum Shares, representing approximately 9% of issued and outstanding Quorum Shares. Following the completion of the Acquisition, the Acquiror beneficially owns 10,667,542 Quorum Shares, representing approximately 14.6% of issued and outstanding Quorum Shares.An unknown buyer completed the acquisition of an additional 5.5% minority stake in Quorum Information Technologies Inc. (TSXV:QIS) on June 5, 2023. Reported Earnings • May 26
First quarter 2023 earnings released: CA$0.008 loss per share (vs CA$0.008 loss in 1Q 2022) First quarter 2023 results: CA$0.008 loss per share (in line with 1Q 2022). Revenue: CA$9.91m (up 6.7% from 1Q 2022). Net loss: CA$559.9k (loss narrowed 6.3% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Announcement • May 11
Quorum Information Technologies Inc. to Report Q1, 2023 Results on May 24, 2023 Quorum Information Technologies Inc. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on May 24, 2023 Reported Earnings • Apr 21
Full year 2022 earnings released: CA$0.019 loss per share (vs CA$0.037 loss in FY 2021) Full year 2022 results: CA$0.019 loss per share (improved from CA$0.037 loss in FY 2021). Revenue: CA$38.8m (up 7.6% from FY 2021). Net loss: CA$1.41m (loss narrowed 48% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 11% per year. Announcement • Jan 27
Quorum Information Technologies Inc. Announces Enhancements to its Online Service Scheduling Product Quorum Information Technologies Inc. announced that its DealerMine branded Online Service Scheduling now has a new User Interface and an improved User Experience (“UX”) design. Additionally, DealerMine’s OSS was enhanced to allow for direct integration with select OEM maintenance menus and vehicle recall information. Announcement • Jan 20
Quorum Information Technologies Inc. Announces New Sales CRM Mobile App Quorum Information Technologies Inc. announced the release of its new mobile Sales Customer Relationship Management ("CRM") application. The mobile Sales CRM application allows dealership sales staff to have the full power of the DealerMine branded Sales CRM solution in their hand. The full Sales CRM solution uncovers sales opportunities, manages all customer communications, and provides a comprehensive view of a dealership's sales operations in a single sign-in platform. It focuses on maximizing outreach, managing leads, and driving sales. Board Change • Jan 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Director Bill Nurthen was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Nov 25
Price target decreased to CA$1.25 Down from CA$1.50, the current price target is an average from 2 analysts. New target price is 64% above last closing price of CA$0.76. Stock is down 35% over the past year. The company posted a net loss per share of CA$0.037 last year. Reported Earnings • Nov 25
Third quarter 2022 earnings released: CA$0.005 loss per share (vs CA$0.002 loss in 3Q 2021) Third quarter 2022 results: CA$0.005 loss per share (further deteriorated from CA$0.002 loss in 3Q 2021). Revenue: CA$9.85m (up 7.1% from 3Q 2021). Net loss: CA$393.1k (loss widened 173% from 3Q 2021). Revenue is forecast to grow 8.2% 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 36% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Nov 10
Quorum Information Technologies Inc. to Report Q3, 2022 Results on Nov 23, 2022 Quorum Information Technologies Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 23, 2022 Announcement • Nov 04
An unknown buyer acquired an additional 5.3% minority stake in Quorum Information Technologies Inc. (TSXV:QIS) for CAD 2.6 million. An unknown buyer entered in to a share purchase agreement to acquire an additional 5.3% minority stake in Quorum Information Technologies Inc. (TSXV:QIS) for CAD 2.6 million on November 2, 2022. Buyer acquired 3,905,500 Quorum Shares for consideration of CAD 0.67 per share. Post transaction, buyer owns 4,407,000 Quorum Shares, representing approximately 6.0% of issued and outstanding Quorum Shares.
An unknown buyer completed the acquisition of an additional 5.3% minority stake in Quorum Information Technologies Inc. (TSXV:QIS) on November 2, 2022. Buying Opportunity • Nov 02
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be CA$0.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has declined by 39%. Reported Earnings • Aug 25
Second quarter 2022 earnings released: CA$0.004 loss per share (vs CA$0.003 loss in 2Q 2021) Second quarter 2022 results: CA$0.004 loss per share (down from CA$0.003 loss in 2Q 2021). Revenue: CA$9.81m (up 8.1% from 2Q 2021). Net loss: CA$255.7k (loss widened 5.0% from 2Q 2021). Over the next year, revenue is forecast to grow 8.6%, compared to a 23% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Aug 12
Quorum Information Technologies Inc. to Report Q2, 2022 Results on Aug 24, 2022 Quorum Information Technologies Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 24, 2022 Announcement • Jun 03
Quorum Information Technologies Inc. Announces Senior Leadership Changes Quorum Information Technologies Inc. announced the appointment of Bruce Atkinson as Vice President Operations, starting June 6, 2022. Quorum is also announcing the resignation of Mike Herenberg, Chief Operating Officer, effective June 30, 2022. Bruce will be replacing Mike and will join the executive leadership team, reporting to the President and CEO. Bruce will be responsible for Quorums implementation and training, support, continuous improvement, and customer success teams as well as the Business Development Centre. Announcement • May 28
Quorum Information Technologies Inc., Annual General Meeting, Jul 29, 2022 Quorum Information Technologies Inc., Annual General Meeting, Jul 29, 2022. Location: Calgary, AB Alberta Canada Reported Earnings • May 27
First quarter 2022 earnings released: CA$0.008 loss per share (vs CA$0.004 loss in 1Q 2021) First quarter 2022 results: CA$0.008 loss per share (down from CA$0.004 loss in 1Q 2021). Revenue: CA$9.29m (up 8.5% from 1Q 2021). Net loss: CA$597.6k (loss widened 94% from 1Q 2021). Over the next year, revenue is forecast to grow 8.0%, compared to a 25% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 12
Quorum Information Technologies Inc. to Report Q1, 2022 Results on May 25, 2022 Quorum Information Technologies Inc. announced that they will report Q1, 2022 results After-Market on May 25, 2022 Board Change • Apr 27
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Director Joe Campbell is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 21
Full year 2021 earnings released: CA$0.037 loss per share (vs CA$0.026 loss in FY 2020) Full year 2021 results: CA$0.037 loss per share (down from CA$0.026 loss in FY 2020). Revenue: CA$36.1m (up 17% from FY 2020). Net loss: CA$2.71m (loss widened 46% from FY 2020). Over the next year, revenue is forecast to grow 12%, compared to a 26% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Apr 13
Quorum Information Technologies Inc. to Report Fiscal Year 2021 Results on Apr 20, 2022 Quorum Information Technologies Inc. announced that they will report fiscal year 2021 results After-Market on Apr 20, 2022 Announcement • Apr 06
Quorum Information Technologies Inc. (TSXV:QIS) completed the acquisition of Accessible Accessories Ltd. Quorum Information Technologies Inc. (TSXV:QIS) entered into a definitive agreement to acquire Accessible Accessories Ltd. for CAD 4.5 million on March 10, 2022. Consideration for the transaction is CAD 4.5 million in cash with a 10% holdback to be released September 30, 2022, pursuant to the terms of an earn-out structure. Quorum will utilize current cash reserves and its BDC Capital facility to fund the cash consideration. Post completion of the transaction, Quorum plans to integrate the Accessible solution into its MyDeal digital retailing solution and retain the Accessible Accessories team. It is anticipated that the Transaction will be completed on or about April 1st, 2022. Cash flow from the transaction are expected to be accretive to current operations.
Quorum Information Technologies Inc. (TSXV:QIS) completed the acquisition of Accessible Accessories Ltd on April 4, 2022. Price Target Changed • Mar 15
Price target decreased to CA$1.60 Down from CA$1.78, the current price target is an average from 2 analysts. New target price is 88% above last closing price of CA$0.85. Stock is down 29% over the past year. The company posted a net loss per share of CA$0.026 last year. Board Change • Feb 11
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Director of Product Support & Director Julia Whiffen is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Recent Insider Transactions Derivative • Dec 08
Independent Director exercised options to buy CA$54k worth of stock. On the 1st of December, Scot Eisenfelder exercised options to buy 47k shares at a strike price of around CA$1.10, costing a total of CA$51k. This transaction amounted to 6.6% of their direct individual holding at the time of the trade. Scot currently holds less than 1% of total shares outstanding. Company insiders have collectively bought CA$174k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Nov 26
Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint Third quarter 2021 results: CA$0.002 loss per share (up from CA$0.005 loss in 3Q 2020). Revenue: CA$9.20m (up 14% from 3Q 2020). Net loss: CA$143.9k (loss narrowed 60% from 3Q 2020). Revenue missed analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 14%, compared to a 37% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Price Target Changed • Aug 28
Price target increased to CA$1.78 Up from CA$1.65, the current price target is an average from 2 analysts. New target price is 71% above last closing price of CA$1.04. Stock is up 1.0% over the past year. Reported Earnings • Aug 26
Second quarter 2021 earnings released: CA$0.003 loss per share (vs CA$0.001 loss in 2Q 2020) The company reported a mediocre second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CA$9.07m (up 53% from 2Q 2020). Net loss: CA$243.5k (loss widened 273% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • Aug 25
Quorum Expands BDC Services to Include Collision Centres Quorum Information Technologies Inc. has expanded its DealerMine Business Development Centre (BDC) services to include collision centres, providing valuable lead generation services that help book more service appointments. This expansion was driven by AutoCanada, who was looking for a solution for their own collision centers. Through DealerMine and AutoCanada’s long-standing strategic partnership, they collectively developed and now deliver BDC services to all AutoCanada collision centres. Reported Earnings • May 29
First quarter 2021 earnings released: CA$0.004 loss per share (vs CA$0.013 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses and improved control over expenses, although revenues were flat. First quarter 2021 results: Revenue: CA$8.56m (flat on 1Q 2020). Net loss: CA$308.7k (loss narrowed 68% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Apr 24
Full year 2020 earnings released: CA$0.026 loss per share (vs CA$0.018 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CA$30.9m (down 6.0% from FY 2019). Net loss: CA$1.86m (loss widened 68% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 24
Price target increased to CA$1.73 Up from CA$1.60, the current price target is provided by 1 analyst. New target price is 50% above last closing price of CA$1.15. Stock is up 31% over the past year. Announcement • Mar 18
Quorum Information Technologies Inc. Announces Enhancements to PowerLane Quorum Information Technologies Inc. announced, as part of its Digital Retailing strategy, new enhancements to its PowerLane product as market adoption increases. PowerLane, a Mobile Service Lane tool for Advisors and Technicians that helps build customer trust, now has Mobile check-in capability, allowing customers to check their vehicle into the service department without entering the dealership. With this functionality, PowerLane can now provide dealership customers with a fully touchless, transparent service experience. Is New 90 Day High Low • Jan 26
New 90-day high: CA$1.18 The company is up 23% from its price of CA$0.96 on 27 October 2020. The Canadian market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Software industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$0.78 per share. Announcement • Jan 22
Quorum Information Technologies Inc Announces Executive Changes Quorum Information Technologies Inc. announced changes to the Board of Directors and its senior leadership team as part of its One Quorum strategy. The Board of Directors of Quorum has appointed Neil McDonnell as its new Chair, succeeding Scot Eisenfelder, who resigned due to other business commitments. Mr. Eisenfelder will continue as a director of the company and the Corporation is delighted that he is remaining with the Board. Mark Bennett - Vice President, Sales and Marketing. Under Mr. Bennett’s leadership, Quorum’s Sales and Marketing team will capitalize on cross selling opportunities across its existing customer base and driving acquisition of new dealers. Dan Ichelson - Senior Vice President, Development. Mr. Ichelson will drive an integrated development team to develop a seamlessly integrated product suite that delivers high Return on Investment (ROI) to dealers. Rick Johnston - Vice President, Product Management: Mr. Johnston to lead the company product vision for the dealership’s vehicle sales department and to manage manufacturer and partner relationships. Jane Webb - Vice President, Product Management: Ms. Webb to lead the company product vision for the dealership’s service department and to manage manufacturer and partner relationships. Recent Insider Transactions Derivative • Dec 05
Independent Director exercised options to buy CA$59k worth of stock. On the 1st of December, David McDonnell exercised options to buy 60.00k shares at a strike price of around CA$0.98, costing a total of CA$59k. This transaction amounted to 1,200% of their direct individual holding at the time of the trade. Since June 2020, David has owned 5.00k shares directly. Company insiders have collectively bought CA$354k more than they sold, via options and on-market transactions, in the last 12 months. Analyst Estimate Surprise Post Earnings • Nov 20
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.1%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 9.7%, compared to a 20% growth forecast for the Software industry in Canada. Reported Earnings • Nov 20
Third quarter 2020 earnings released: CA$5.00 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: CA$8.09m (down 5.7% from 3Q 2019). Net loss: CA$358.3k (down 158% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 124% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 19
New 90-day high: CA$1.15 The company is up 2.0% from its price of CA$1.13 on 21 August 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Announcement • Nov 18
Government of Canada Selects Quorum Information Technologies's DealerMine Division to Participate in the Government of Canada’s Accelerated Growth Service Initiative Quorum Information Technologies Inc. announced that its DealerMine division has been selected to participate in the Government of Canada’s Accelerated Growth Service (“AGS”) initiative. This has expanded Quorum’s partnership with the Government as both XSellerator and DealerMine are now AGS partners. AGS is a Government of Canada initiative that includes the four provincial governments in Atlantic Canada and coordinates government support for high growth companies in areas such as financing, advisory support, export and innovation services. Acting as a ‘one-stop shop’ model, each participating company partners with a designated AGS client lead, supported by one representative from each participating government department. The AGS team, in partnership with the company, identifies growth opportunities and collaborates with the company including connecting the company to other government departments and third-party organizations. Announcement • Nov 06
Quorum Information Technologies Inc. to Report Q3, 2020 Results on Nov 18, 2020 Quorum Information Technologies Inc. announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Nov 18, 2020