Announcement • Apr 21
VIQ Solutions Inc., Annual General Meeting, Jun 25, 2026 VIQ Solutions Inc., Annual General Meeting, Jun 25, 2026. Announcement • Nov 06
VIQ Solutions Inc. announced that it has received CAD 2.585167 million in funding On November 5, 2025, the VIQ Solutions Inc closed the transaction by issuing 3,146,063 Units at an issue price of CAD 0.186 for the proceeds of CAD 585,167.718 under second tranche. Each Warrant entitles the holder thereof to acquire one Common Share at
an exercise price of CAD 0.190 per Common Share until November 5, 2030. Announcement • Oct 28
VIQ Solutions Inc. announced that it has received CAD 1.999999 million in funding On October 28, 2025, VIQ Solutions Inc. closed the transaction. The company issued 10,752,685 units at a price of CAD 0.186 for gross proceeds of CAD 1,999,999.41. Each Unit consisted of one common share of the Company and one Common Share purchase warrant . Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of CAD 0.186 per Common Share until October 27, 2030. Insiders of the Company subscribed for 10.75 million Units. Bradley Wells, a director of the Company, acquired 4,838,709 Units for an aggregate purchase price of approximately CAD 900,000. Prior to the Offering, Wells owned, or had control or direction over, 7,875,447 Common Shares, 1,705,712 warrants to purchase Common Shares and 235,686 restricted share units of the Company (“RSUs”), representing approximately 17.11% of issued and outstanding Common Shares on a partially diluted basis (assuming the conversion of all warrants and RSUs). After the Offering, Wells owns, or has control of direction over, 12,714,156 Common Shares, 6,544,421 warrants, and 235,686 RSUs representing approximately 26.71% of the issued and outstanding Common Shares on a partially diluted basis Announcement • Oct 23
VIQ Solutions Inc. announced that it expects to receive CAD 2 million in funding VIQ Solutions Inc. announced a non-brokered private placement of 1,07,52,688 units at a price of CAD 0.186 for gross proceeds of CAD 1,999,999.968 on October 22, 2025. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of CAD 0.186 per common share until the fifth year anniversary from the date of issuance. Closing of the offering is expected to occur on or about October 27, 2025 and is subject to the approval of the TSXV. All securities issued under the offering, including securities issuable on exercise thereof, will be subject to a hold period in Canada of four months and one day following the closing date in accordance with applicable securities legislation. Insiders of the company are expected to subscribe for approximately 10,200,000 units. Announcement • Aug 27
VIQ Solutions Inc. announced that it has received CAD 0.565 million in funding On August 26, 2025. VIQ Solutions Inc. announces that it has closed the transaction. Announcement • Aug 19
VIQ Solutions Inc. announced that it expects to receive CAD 0.565 million in funding VIQ Solutions Inc. announced a non-brokered private placement basis, to issue 2,640,186 units at an issue price of CAD 0.214 per unit for gross proceeds of CAD 564,999.804 led by Bradley Wells, Larry Taylor and Joseph Quarin for 100% of the funds raised on August 19, 2025. Each Unit consists of one common share and one common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of CAD 0.214 per Common Share until the seventh year anniversary from the date of issuance. Closing of the Offering is expected to occur on or about August 22, 2025 (the “Closing Date”) and is subject to the approval of the TSX. All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period in Canada of four months and one day following the Closing Date in accordance with applicable securities legislation. Announcement • Aug 07
VIQ Solutions Inc. to Report Q2, 2025 Results on Aug 13, 2025 VIQ Solutions Inc. announced that they will report Q2, 2025 results After-Market on Aug 13, 2025 Announcement • May 06
VIQ Solutions Inc. to Report Q1, 2025 Results on May 12, 2025 VIQ Solutions Inc. announced that they will report Q1, 2025 results After-Market on May 12, 2025 Announcement • Apr 08
VIQ Solutions Inc., Annual General Meeting, Jun 13, 2025 VIQ Solutions Inc., Annual General Meeting, Jun 13, 2025. Announcement • Mar 26
VIQ Solutions Inc. to Report Q4, 2024 Results on Mar 28, 2025 VIQ Solutions Inc. announced that they will report Q4, 2024 results After-Market on Mar 28, 2025 Announcement • Dec 11
VIQ Solutions Inc. Announces Retirement of Susan Sumner as Director, President and Chief Operating Officer, Effective January 31, 2025 VIQ Solutions Inc. announced the retirement of Susan Sumner as Chief Operating Officer and President of the Company. Ms. Sumner will continue as a part-time advisor to the Company until January 31, 2025. In connection with her retirement, Ms. Sumner has informed the Company that she will resign from her director position on the board of directors of the Company as of January 31, 2025. Ms. Sumner has served as Chief Operating Officer of VIQ since July 2018, President of VIQ since February 2021, and has been a member of the Board since April 2022. Announcement • Nov 06
VIQ Solutions Inc. to Report Q3, 2024 Results on Nov 12, 2024 VIQ Solutions Inc. announced that they will report Q3, 2024 results After-Market on Nov 12, 2024 Announcement • Sep 20
VIQ Solutions Inc. Announces the Appointment of David Sharma to Its Board of Directors VIQ Solutions Inc. announced the appointment of David Sharma to its board of directors (the “Board”), effective September 18, 2024. Mr. Sharma is a highly accomplished board member with extensive executive experience in the technology and telecommunications industry. He brings a wealth of knowledge in board governance, technology and artificial intelligence (AI) to VIQ Solutions, which will be instrumental in supporting the Company’s global scaling efforts and achieving its growth and profitability plans. Mr. Sharma is a Chartered Governance Institute Accredited Director and holds an Honours Bachelor of Mathematics in Information Systems from the University of Waterloo. Announcement • Aug 06
VIQ Solutions Inc. to Report Q2, 2024 Results on Aug 12, 2024 VIQ Solutions Inc. announced that they will report Q2, 2024 results After-Market on Aug 12, 2024 Announcement • Jun 26
VIQ Solutions Inc. Announces Netscribe™ Advanced Formatting: Evolving Documentation with Ai-Driven Enhancements VIQ Solutions Inc. announces the launch of NetScribe™ Advanced Formatting, a cost-effective solution for the documentation needs of courts, deposition companies, legal firms, and law enforcement. VIQ has longstanding relationships with major courts and law enforcement agencies worldwide, and has extended over USD 17.0 million in annual revenue with its top customers, many of whom are utilizing NetScribe™ as they expand their relationship with VIQ. During Q124 alone, VIQ added over 79 new logos and total NetScribe™ minutes have increased, year over year, by 30%. The customers recognize that there will not be a direct pivot from traditional service/labor-based documentation creation to AI/STT-generated text. The evolution will be the adaptation of hybrid solutions that will broaden access to documentation where it had been cost-prohibitive in the past and utilize full editing capabilities with the human-in-the-loop on the most essential and critical evidentiary requirements. NetScribe™ Advanced Formatting offers new capabilities that automate the production of documents with complex requirements, such as exact number of lines per page, custom cover and certification pages, automated indexes, and witness movements, all within the NetScribe™ platform. When combining these innovations with NetScribe’s hallmark workflow automation and speech-to-text with post-processing, multi-speaker detection and Domain-Specific Language Models (DSLMs), the NetScribe™ platform offers a powerful end-to-end solution to produce highly usable documentation, both as FirstDraft™ and verbatim documents. As documents are corrected by a human, VIQ’s DSLMs continuously learn about the documentation nuances (such as accents, terminology, formatting of punctuation and words, disfluencies, diarization characteristics, and more) of a specific vertical, geography, or customer, which is then used to produce FirstDraft™ documents that are highly accurate. With the addition of NetScribe™ Advanced Formatting, both the structure and the content of a document become fully automated with a highly accurate and usable output. Announcement • May 08
VIQ Solutions Inc. to Report Q1, 2024 Results on May 13, 2024 VIQ Solutions Inc. announced that they will report Q1, 2024 results After-Market on May 13, 2024 Announcement • Apr 05
VIQ Solutions Inc., Annual General Meeting, Jun 05, 2024 VIQ Solutions Inc., Annual General Meeting, Jun 05, 2024. Announcement • Mar 16
VIQ Solutions Inc. to Report Q4, 2023 Results on Mar 27, 2024 VIQ Solutions Inc. announced that they will report Q4, 2023 results After-Market on Mar 27, 2024 Announcement • Feb 28
VIQ Solutions Inc. announced that it has received CAD 1.617762 million in funding from Beedie Capital VIQ Solutions Inc. announced a non-brokered private placement of 10,239,000 common shares at a price of CAD 0.158 per share for aggregate gross proceeds of CAD 1,617,762 on February 27, 2024. The common shares will be subject to a statutory hold period or restricted period in Canada of four months and one day following the closing date. The Offering is subject to final acceptance by the Toronto Stock Exchange. The transaction included participation from new investor Beedie Capital for 3,000,000 shares. The transaction is oversubscribed. Announcement • Jan 06
VIQ Solutions Files Form 15 VIQ Solutions Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Shares under the Securities Exchange Act of 1934, as amended. Announcement • Nov 04
VIQ Solutions Inc. to Report Q3, 2023 Results on Nov 10, 2023 VIQ Solutions Inc. announced that they will report Q3, 2023 results After-Market on Nov 10, 2023 Announcement • Nov 03
VIQ Solutions Inc. Unveils Their Next Generation of Ai Driven Transcription and Workflow Technology VIQ Solutions Inc. announced the latest enhancements to its NetScribeTM Ecosystem. As a part of the ecosystem, NetScribeTM Connect plays an integral role as a web application that streamlines transcript processing and review. The latest version of NetScribe Connect boasts a revamped User Interface (UI) and an enhanced User Experience (UX), based on real industry and user feedback. The updated UI allows users to seamlessly navigate the platform, while the improved UX incorporates transcript editing tools. It will now be easier than ever to request, view, and refine transcripts, thereby improving workflow efficiency. NetScribe Connect’s latest standout feature is in-app editing of transcripts synced with video playback. This advancement allows users to review visual content side by side with the transcribed text to gain a deeper level of insight and guarantee precision. The new editing feature allows users to quickly proofread transcripts and make changes within the secure ecosystem versus downloading to edit in a third-party application. To enhance its speech-to-text accuracy, VIQ Solutions has integrated domain-specific language models into its AI platform. These specialized models are tailored from industry datasets and trained to handle jargon and terminology unique to specific industries and regions, ensuring high fidelity and contextually relevant transcripts. This advancement reinforces VIQ's commitment to providing transcription solutions that cater to the unique needs of its diverse client base, including Courts, Law Firms, Law Enforcement, Insurance and Media Broadcasting. In response to the global nature of VIQ’s business, users can now request AI enabled translation and transcription services for common non-English languages, including Spanish, French, German, Dutch and beyond. This expansion in language capabilities makes VIQ’s speech recognition a versatile and inclusive solution for organizations worldwide. Along with the hallmark feature of automatic multi-speaker identification and formatting, these updates reaffirm VIQ’s commitment to advancing the transcription industry. These unique capabilities significantly reduce the time required for manual formatting and transcription, providing world-class transcription solutions to a wide range of clients. Announcement • Oct 06
VIQ Solutions Inc.(OTCPK:VQSS.F) dropped from NASDAQ Composite Index VIQ Solutions Inc. has been removed from NASDAQ Composite Index. Announcement • Aug 17
VIQ Solutions Inc. announced that it has received $1.798 million in funding On August 15, 2023, VIQ Solutions Inc. closed the transaction. The transaction included participation from four investors. Reported Earnings • Aug 15
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: US$0.10 loss per share. Revenue: US$10.5m (down 15% from 2Q 2022). Net loss: US$3.56m (loss widened 11% from 2Q 2022). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 42%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Announcement • Aug 09
VIQ Solutions Inc. to Report Q2, 2023 Results on Aug 14, 2023 VIQ Solutions Inc. announced that they will report Q2, 2023 results After-Market on Aug 14, 2023 Announcement • Aug 03
VIQ Solutions Inc. announced that it has received $1.798 million in funding VIQ Solutions Inc. announced a non-brokered private placement of 5,800,000 units at a price of $0.31 per unit for the gross proceeds of $1.798 million on August 2, 2023. Each unit consists of one common share and one half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of $0.31 per common share until June 30, 2024. The units will be subject to a four-month hold period. Announcement • Jun 02
VIQ Solutions Inc. Files Two Provisional Patent Applications with United States Patent and Trademark Office VIQ Solutions Inc. announced that it has filed two provisional patent applications with the United States Patent and Trademark Office (USPTO). The patents augment the Company's speech engine agnostic workflows, improving documentation accuracy and usability of documentation, for courts, insurance, law enforcement and media organizations across the globe. The first patent application is directed to the systems and methods for training domain-specific Automated Speech Recognition (ASR) language models. The novel methods can be leveraged to form accurate speech recognition to easily manage nuances of domain-specific words, accented speech and languages, including mixed-language audio files, and document formatting requirements. The second patent application is directed to the automated selection of domain specific ASR models. This patent aims to protect the various mechanisms used to load static or dynamic DSLMs. The static model is used based on a pre-assigned setting and the dynamic methods utilize the Goodness Score or Artificial Intelligence Natural Language Understanding (NLU) to determine the context and domain of the audio, followed by a second pass using a DSLM creating profound ASR improvements in domain-specific verticals. Both workflows utilize DSLMs to improve the quality of the draft transcript. DSLMs use a large database to create a baseline to create a new task-specific model that is being trained using the knowledge learned by the large language model. It leverages the knowledge learned during the training of the original model to improve the performance of the new model, resulting in increased efficiency, improved performance, and enhanced interpretability. Recent Insider Transactions • Jun 02
Independent Director recently bought CA$90k worth of stock On the 29th of May, Bradley Wells bought around 300k shares on-market at roughly CA$0.30 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$372k more in shares than they have sold in the last 12 months. Reported Earnings • May 11
First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2023 results: US$0.10 loss per share (further deteriorated from US$0.067 loss in 1Q 2022). Revenue: US$10.1m (down 13% from 1Q 2022). Net loss: US$3.46m (loss widened 72% from 1Q 2022). Revenue missed analyst estimates by 9.8%. Earnings per share (EPS) exceeded analyst estimates by 1.4%. Revenue is forecast to grow 9.0% 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 27% per year but the company’s share price has fallen by 49% per year, which means it is significantly lagging earnings. Announcement • May 04
VIQ Solutions Inc. to Report Q1, 2023 Results on May 10, 2023 VIQ Solutions Inc. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on May 10, 2023 Reported Earnings • Mar 31
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: US$0.28 loss per share (improved from US$0.74 loss in FY 2021). Revenue: US$45.8m (up 48% from FY 2021). Net loss: US$8.71m (loss narrowed 56% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to grow 6.8% 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 16% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Announcement • Jan 27
VIQ Solutions Bolsters AI-Powered Workflows WIth New Proprietary Automatic Speech Recognition (ASR) Increasing Accuracy and Improving Diarization VIQ Solutions Inc. announced the addition of a new ASR technology to its engine agnostic portfolio driving improvements in efficiency and diarization in multi-speaker environments. Built upon the existing ISO27001 certified secure cloud platform, the cutting edge, proprietary ASR technology sets the foundation for advancements in AI-based translation and foreign language transcription capabilities. This proprietary ASR pipeline is expected to create new efficiencies and improved accuracy as it learns from the large multi-industry data sets that VIQ creates, edits, and annotates. The Company’s strategy, to capitalize on the commoditized speech to text platforms, benefits from the rapid advancements offered both commercially and as open-source technologies. VIQ offerings are agnostic to speech recognition programs, cloud infrastructure and hardware. The engine agnostic approach ensures they utilize the best suited and most efficient speech engine and focuses R&D investments on industry, geography and customer-centric customizations based on the characteristics of a media file. This specialized workflow creates a highly accurate “FirstDraft” document for self-editing or modification by VIQ professional editors. This unique strategy provides a clear distinction in investments related to post processing to enhance the diarized draft, associated formatting and customization of templates, which are most challenging in the complex industries served by VIQ. As the appetite for digitalization of recorded events, technology is required to keep pace with the amount of evidentiary content created every day. VIQ's AI-based speech-to-text technology increases efficiency, decreases turnaround time, and yields higher transcription accuracy. Announcement • Jan 18
VIQ Solutions Inc. announced that it expects to receive $15 million in funding VIQ Solutions Inc. announced that it has entered in a senior secure loan for the gross proceeds of $15 million on January 16, 2023. The transaction will include participation from new lender Beedie Capital. The loan will bear interest rate of at 12.5% per annum, comprised of cash interest of 9.5% per annum, calculated and paid monthly, and paid-in-kind interest will be charged at a rate of 3.0% per annum, compounded monthly and added to the outstanding principal amount of the loan. The company will also pay a standby fee will be charged monthly at a rate of 1.5% per annum on the undrawn amount of the standby facility. The company paid a commitment fee of 1.5% of the loan. The lender has also been granted a board observer right. In addition, the company has agreed to issue additional common share purchase warrants in connection with the subsequent advances, with such number of warrants to be equal to 17% of the amount of such subsequent advance divided by the exercise price of such subsequent warrants. The subsequent warrants are to have an exercise price equal to the five-day volume weighted average price of the company’s common shares immediately prior to the earlier of the announcement of the applicable subsequent advance, and the funding of the applicable subsequent advance. The subsequent warrants will expire seven years from the date of issuance. The transaction contemplated has been conditionally approved by the Toronto Stock Exchange.
On the same date, the company received $12 million of the loan in its first tranche. The company has also issued 7,968,750 common share purchase warrants to the lender. Each warrant is exercisable to purchase one common share of the company at an exercise price of US$0.256 per warrant share. The warrants expire on January 16, 2030. Announcement • Nov 18
VIQ Solutions Inc. Announces Executive Changes VIQ Solutions Inc. announced the appointment of the Company’s Chairman, Larry Taylor, as Executive Chairman. Additionally, the Company announced the appointment of Tim Johnson as Senior Vice President of International. Appointment of Executive Chairman: As both an executive and board member, Mr. Taylor’s new role was created to work closely with the executive team and accelerate the Company’s delivery of increased profitability and enhanced cash flow generation in 2023. To achieve these goals, Mr. Taylor and executives will focus on completing the integration of recent Australian acquisitions, onboarding the Company’s large customer contracts, particularly in Australia, expanding the Company’s global delivery capability, and ensuring the organization is structured to maximize the value of its rapidly growing subscription based recurring revenue. These initiatives are critical to the Company’s success. There is no change to the composition of the Office of the CEO, including Sebastien Paré, CEO, Susan Sumner, President and COO, and Alexie Edwards, CFO; all of whom will report to Mr. Taylor. Mr. Taylor’s broad financial and business experience will be brought to bear alongside the Office of the CEO and the Board of Directors. Appointment of Senior Vice President of International: The Company is also pleased to announce the appointment of Tim Johnson following the recently announced partnership with ORdigiNAL, a specialized value-added distributor of document creation solutions and one of the large distributors of Nuance technologies across the globe. Mr. Johnson, who most recently served as the Head of Sales, Healthcare, for Nuance/Microsoft in the United Kingdom and Ireland, will focus on client and partner advocacy to drive international growth and adoption of transformative technologies across targeted verticals. Mr. Johnson reports to Susan Sumner, President and COO, and he will be instrumental in leading the newly signed ORdigiNAL partnership to offer VIQ solutions to its vast dealer network, operating throughout Europe and Asia Pacific. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: US$0.041 loss per share (improved from US$0.15 loss in 3Q 2021). Revenue: US$11.8m (up 66% from 3Q 2021). Net loss: US$1.33m (loss narrowed 66% from 3Q 2021). Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) exceeded analyst estimates by 18%. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the IT industry in Canada. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 12
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: US$0.041 loss per share (improved from US$0.15 loss in 3Q 2021). Revenue: US$11.8m (up 66% from 3Q 2021). Net loss: US$1.33m (loss narrowed 66% from 3Q 2021). Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) exceeded analyst estimates by 18%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the IT industry in Canada. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Announcement • Nov 10
VIQ Solutions Inc. Revises Earnings Guidance for the Full Year 2022 VIQ Solutions Inc. revises earnings guidance for the full year 2022. The Company has revised its full year 2022 goals to be in the range of $46-$47 million in revenue. Announcement • Nov 02
VIQ Solutions Inc. to Report Q3, 2022 Results on Nov 09, 2022 VIQ Solutions Inc. announced that they will report Q3, 2022 results After-Market on Nov 09, 2022 Announcement • Oct 01
VIQ Solutions Announces Receipt of Nasdaq Notice of Deficiency VIQ Solutions Inc. announced that it has received a written notification of deficiency from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated September 27, 2022, indicating that the Company no longer satisfies Nasdaq Listing Rule 5550(a)(2), continued listing requirement for minimum bid price, based upon a closing bid price of less than $1.00 per share for the Company’s common shares (the “Shares”) for the prior 30 consecutive business day period. The notification from Nasdaq has no immediate effect on the listing of the Shares, and the Shares will continue to trade on the Nasdaq Capital Market under the symbol “VQS”. Despite receiving the non-compliance letter from Nasdaq, the Company believes that the current price of the equity has been significantly impacted by macroeconomic events and is hopeful that it will meet the compliance requirements within the grace period. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a grace period of 180 calendar days, or until March 27, 2023, to meet the minimum bid price requirement under the Nasdaq Listing Rules. If at any time during the 180-day grace period, the closing bid price of the Shares is $1.00 per Share or higher for at least ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance within the initial 180-day grace period, the Company may be eligible for an additional 180-day grace period, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid-price requirement, and the Company provides written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary, subject to determination by the staff of Nasdaq. The Company intends to monitor the closing bid price of its Shares during this grace period and will consider its options in order to regain compliance with The Nasdaq Capital Market minimum bid price requirement. If the Company does not regain compliance with The Nasdaq Capital Market minimum bid price requirement within the permitted grace period(s), the Shares will be delisted from Nasdaq, which would be expected to have a material adverse effect on the liquidity and trading price of the Shares. The Shares are also listed on the Toronto Stock Exchange (TSX: VQS) and the Company is currently in compliance with applicable listing requirements of the Toronto Stock Exchange. Recent Insider Transactions • Sep 22
Independent Director recently bought CA$162k worth of stock On the 15th of September, Bradley Wells bought around 165k shares on-market at roughly CA$0.98 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$414k more in shares than they have sold in the last 12 months. Major Estimate Revision • Aug 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -US$0.23 to -US$0.28 per share. Revenue forecast unchanged at US$49.8m. IT industry in Canada expected to see average net income growth of 14% next year. Consensus price target down from CA$4.75 to CA$3.75. Share price fell 15% to CA$1.21 over the past week. Reported Earnings • Aug 11
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: US$0.11 loss per share (up from US$0.42 loss in 2Q 2021). Revenue: US$12.4m (up 51% from 2Q 2021). Net loss: US$3.20m (loss narrowed 70% from 2Q 2021). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 5.3%. Over the next year, revenue is forecast to grow 39%, compared to a 11% growth forecast for the industry in Canada. 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 16% per year, which means it is significantly lagging earnings. Announcement • Aug 11
VIQ Solutions Inc. Reaffirms Revenue Guidance for the Full Year 2022 VIQ Solutions Inc. reaffirmed revenue guidance for the full year 2022. For the period, the company's Financial expectations include generating at least $50 million in revenue. Announcement • Aug 03
VIQ Solutions Inc. Unveils Next Generation AccessPoint Web Portal to Modernize Access to Justice Worldwide VIQ Solutions Inc. announced the launch of AccessPoint, providing court personnel and legal professionals around the world with instant access to court recordings through a secure, cloud-based portal. As technology plays an increasing role in transforming court workflow, courts recognize the need for innovative solutions to replace time intensive, manual processes. Developed in collaboration with key clients, AccessPoint improves access to evidentiary court recordings, advances data traceability and transparency and increases collaboration for stakeholders within and outside the courtroom. AccessPoint delivers self-guided search, request and export features to quickly access audio recordings captured during court proceedings. Advanced security settings provide granular control of authorized users and auto-logging of access and events to simplify the chain of custody tracking. AccessPoint is an integral part of VIQ’s end-to-end solution suite for Courts designed to deliver secure, real-time access to high-quality recordings. AccessPoint is a complementary product to CapturePro and a part of the complete VIQ Court Solution Suite. CapturePro is designed to optimize and secure the evidentiary content presented during litigious interactions. From audio and video capture to the management of high-quality, multi-channel recordings to creating actionable electronic transcripts and providing simplified, web-based access to court records. Ultimately, the solutions provide reliable, seamless and timely access to court records – when and how stakeholders need them. Announcement • Jul 29
VIQ Solutions Inc. to Report Q2, 2022 Results on Aug 10, 2022 VIQ Solutions Inc. announced that they will report Q2, 2022 results After-Market on Aug 10, 2022 Announcement • Jul 28
VIQ Solutions Inc. (TSX:VQS) agreed to acquire CARBON from Near Intelligence, Inc. VIQ Solutions Inc. (TSX:VQS) agreed to acquire CARBON technology platform from Near Intelligence, Inc. on July 26, 2022. Announcement • Jul 22
VIQ Solutions Inc. announced that it has received $4.8 million in funding On July 21, 2022, VIQ Solutions Inc. closed the transaction. Announcement • Jul 20
VIQ Solutions Inc. announced that it expects to receive $4.8 million in funding VIQ Solutions Inc. announced a private placement of 3,551,852 common shares at a price of $1.35 per share and warrants to purchase up to 3,551,852 common shares at a price of $1.35 per warrant for aggregate gross proceeds of $4,800,000 on July 19, 2022. The warrants have an exercise price of $1.39, are exercisable any time after January 21, 2023 and will expire five years following the issuance date thereof. The transaction is expected to close on or about July 21, 2022, subject to the satisfaction of customary closing conditions, including the approval of the Toronto Stock Exchange. Recent Insider Transactions • Jun 01
Independent Director recently bought CA$120k worth of stock On the 30th of May, Bradley Wells bought around 78k shares on-market at roughly CA$1.53 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$294k more in shares than they have sold in the last 12 months. Reported Earnings • May 13
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: US$0.067 loss per share. Revenue: US$11.5m (up 40% from 1Q 2021). Net loss: US$2.01m (loss widened 21% from 1Q 2021). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Over the next year, revenue is forecast to grow 42%, compared to a 16% growth forecast for the industry in Canada. Announcement • May 12
VIQ Solutions Reaffirms Revenue Guidance for the Full Year of 2022 VIQ Solutions reaffirmed revenue guidance for the full year of 2022. The company reaffirming its goals for 2022. Financial expectations include generating at least $50 million in revenue with an expected gross margin in the range of 47%-55%. VIQ’s geographic revenue mix shifted toward Australia following the completion of the Auscript acquisition with approximately 50% of its 2022 revenue expected to be derived from Australia versus 31% in 2021. Announcement • May 05
VIQ Solutions Inc. to Report Q1, 2022 Results on May 11, 2022 VIQ Solutions Inc. announced that they will report Q1, 2022 results After-Market on May 11, 2022 Price Target Changed • Apr 27
Price target decreased to CA$5.75 Down from CA$6.25, the current price target is an average from 4 analysts. New target price is 262% above last closing price of CA$1.59. Stock is down 78% over the past year. The company is forecast to post a net loss per share of US$0.24 next year compared to a net loss per share of US$0.74 last year. Breakeven Date Change • Apr 27
No longer forecast to breakeven The 4 analysts covering VIQ Solutions no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$487.2k in 2023. New consensus forecast suggests the company will make a loss of US$2.18m in 2023. Major Estimate Revision • Apr 08
Consensus estimates of losses per share improve by 18% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from US$45.2m to US$47.0m. EPS estimate increased from -US$0.29 per share to -US$0.24 per share. IT industry in Canada expected to see average net income growth of 15% next year. Consensus price target of CA$5.75 unchanged from last update. Share price fell 7.1% to CA$1.82 over the past week. Announcement • Apr 07
VIQ Solutions Inc., Annual General Meeting, Jun 07, 2022 VIQ Solutions Inc., Annual General Meeting, Jun 07, 2022. Announcement • Apr 06
VIQ Solutions Inc. Announces Board Changes VIQ Solutions Inc. announced the appointment of a new member to its Board of Directors, effective April 5th, 2022. The Company also announces the resignation of Mike Kessel from the Board, effective April 5th, 2022. Joining the Board is Christine Fellowes, Managing Director, APAC, NBCUniversal International Networks & Direct-To-Consumer. Ms. Fellowes is an accomplished business leader with more than 30 years’ experience leading growth businesses across regional expansion, strategy, operations, and P&L roles for prominent US multinationals in media, entertainment, and technology companies in Asia. Her strategic insight extends across major markets in Asia and Australia. She holds Board Certification from Harvard Business School. She is an Australian and lives in Singapore. The Company also announces that Mike Kessel will be stepping down from the Board. These changes bring the Board to eight members, six of whom are independent. Price Target Changed • Apr 05
Price target decreased to CA$5.75 Down from CA$6.25, the current price target is an average from 4 analysts. New target price is 201% above last closing price of CA$1.91. Stock is down 71% over the past year. The company is forecast to post a net loss per share of US$0.25 next year compared to a net loss per share of US$0.74 last year. Reported Earnings • Mar 31
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: US$0.74 loss per share (down from US$0.62 loss in FY 2020). Revenue: US$31.0m (down 2.2% from FY 2020). Net loss: US$19.7m (loss widened 77% from FY 2020). Revenue missed analyst estimates by 8.0%. Earnings per share (EPS) exceeded analyst estimates by 6.9%. Over the next year, revenue is forecast to grow 46%, compared to a 19% growth forecast for the industry in Canada. 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 9% per year, which means it is significantly lagging earnings. Breakeven Date Change • Mar 31
No longer forecast to breakeven The 4 analysts covering VIQ Solutions no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$487.2k in 2023. New consensus forecast suggests the company will make a loss of US$2.18m in 2023. Announcement • Mar 30
VIQ Solutions Inc. Reaffirms Revenue Guidance for the Full Year 2022 VIQ Solutions Inc. reaffirmed revenue guidance for the full year 2022. For the year, the company’s expectations generating at least $50 million in revenue. The bridge to expected revenue of at least $50 million includes a full year of 2021 base revenue excludingacquisitions of $30 million, plus TTA and Auscript acquired annualized revenues of approximately $14 million,and the Queensland Courts contract of approximately $6 million, which effectively began in December 2021 uponthe close of the Auscript acquisition. Announcement • Mar 06
VIQ Solutions Inc. to Report Q4, 2021 Results on Mar 29, 2022 VIQ Solutions Inc. announced that they will report Q4, 2021 results After-Market on Mar 29, 2022 Announcement • Feb 09
VIQ Solutions Inc. Wins U.S. Patent for Artificial Intelligence Innovation Strengthening Its Technology Portfolio VIQ Solutions Inc. announced the United States Patent and Trademark Office (USPTO) has granted a patent for its Parallel Processing Framework for Voice to Text Digital Media. This patent recognizes innovative and fundamental methods for extracting critical information from multi-speaker, multi-channel business interactions recorded on digital media. Consistent with the Company's strategy of leveraging market-specific scalable, AI architecture to gain insights and create efficiencies driving incremental value, these AI methods take advantage of technology algorithms best suited for speech to text transformation. The patent protects ten unique aspects of VIQ’s innovative aiAssist processing designs and the proprietary Parallel Processing Framework for Voice to Text Digital Media. The patent acknowledges techniques developed by VIQ to address the many challenges of audio to text transcriptions, including language and dialect detection, identification of industry-specific lexicon, user-specific dictionaries, and speaker diarization, as well as the mechanisms to learn progressively from repeated usage, resulting in an AI-generated draft transcript for review by an editor. Announcement • Dec 14
VIQ Solutions Inc. (TSX:VQS) completed the acquisition of assets of Auscript Australasia Pty Ltd. VIQ Solutions Inc. (TSX:VQS) entered into a definitive purchase agreement to acquire assets of Auscript Australasia Pty Ltd for $7.7 million on October 12, 2021. VIQ Solutions Inc. will fund the acquisition by utilizing cash on hand. The transaction is subject to regulatory approvals and other customary closing conditions. The transaction is expected to close in the fourth quarter of 2021.
VIQ Solutions Inc. (TSX:VQS) completed the acquisition of assets of Auscript Australasia Pty Ltd on December 13, 2021. $7.5 million of the consideration was paid at closing while $150,000 is payable through a seven-month earnout plan. Breakeven Date Change • Dec 02
Forecast to breakeven in 2023 The 4 analysts covering VIQ Solutions expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 11% per year to 2022. The company is expected to make a profit of US$486.4k in 2023. Average annual earnings growth of 77% is required to achieve expected profit on schedule. Reported Earnings • Nov 12
Third quarter 2021 earnings released: US$0.15 loss per share (vs US$0.019 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$7.09m (down 13% from 3Q 2020). Net loss: US$3.86m (loss widened US$3.51m from 3Q 2020). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Price Target Changed • Oct 14
Price target decreased to CA$7.50 Down from CA$8.92, the current price target is an average from 3 analysts. New target price is 137% above last closing price of CA$3.17. Stock is down 24% over the past year. Announcement • Aug 19
VIQ Solutions Inc. Reiterates Earnings Guidance for the Third Quarter of 2021 VIQ Solutions Inc. reiterated earnings guidance for the third quarter of 2021. For the quarter, the company anticipates the revenue to be in the range of $8.2 million to $8.5 million. Reported Earnings • Aug 18
Second quarter 2021 earnings released: US$0.42 loss per share (vs US$0.056 loss in 2Q 2020) The company reported a poor second quarter result with increased losses and weaker control over costs, although revenues were flat. Second quarter 2021 results: Revenue: US$8.19m (flat on 2Q 2020). Net loss: US$10.5m (loss widened US$9.47m from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Announcement • Aug 13
VIQ Solutions Common Shares Deleted from Other OTC VIQ Solutions Inc. Common Shares deleted from Other OTC effective from August 12, 2021, due to Market Center Change Listed on NASDAQ.