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Tecsys Reports Financial Results for the First Quarter of Fiscal 2025

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2 years ago

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SaaS subscription bookings up 57%, SaaS RPO climbs 40%

MONTREAL, Sept. 5, 2024 /CNW/ — Tecsys Inc. (TSX: TCS), an industry-leading supply chain management SaaS company, today announced its results for the first quarter of fiscal 2025, ended July 31, 2024. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS).

“We kicked off fiscal 2025 with solid momentum, setting a positive tone for the year ahead,” said Peter Brereton, president and CEO at Tecsys. “Our continued SaaS performance is supported by the strength of our team and the impact of our partners, together driving growth in a highly engaged market. The supply chain market is on the move, and we like our competitive position. We are confident in our ability to build on this strong start.”

Mark Bentler, chief financial officer of Tecsys Inc., added, “Our Q1 fiscal 2025 financial performance showcases 57% SaaS bookings growth, 40% SaaS RPO growth and 33% SaaS revenue growth compared to the same quarter last year and we are pleased that our underlying SaaS margins continue to trend positively.” 

First Quarter Highlights:

SaaS revenue increased by 33% to $15.3 million, up from $11.5 million in Q1 2024.SaaS subscription bookingsi (measured on an ARRi basis) increased by 57% to $3.0 million, compared to $1.9 million in the first quarter of fiscal 2024.SaaS Remaining Performance Obligation (RPOi) increased by 40% to $194.9 million at July 31, 2024, up from $139.4 million at the same time last year.Total revenue increased to $42.3 million compared to $42.0 million in Q1 2024.Net profit was $0.8 million or $0.05 per share on a fully diluted basis in Q1 2025, compared to $1.2 million or $0.08 per share for the same period in fiscal 2024.Adjusted EBITDAii was $2.6 million compared to $3.2 million reported in Q1 last year.In the first quarter of fiscal 2025, Tecsys acquired 59,600 of its outstanding common shares for approximately $2.2 million as part of its ongoing Normal Course Issuer Bid.

Financial Guidance:

Tecsys is reiterating previously presented financial guidance as follows:

FY25 Guidance

FY26 Guidance

Total Revenue Growth

7-9%

n.a.

SaaS Revenue Growth

30-32%

n.a.

Adjusted EBITDAii Margin

8-9%

10-11%

On September 5, 2024, the Company declared a quarterly dividend of $0.08 per share to be paid on October 4, 2024 to shareholders of record on September 20, 2024.

Pursuant to the Canadian Income Tax Act, dividends paid by the Company to Canadian residents are considered to be “eligible” dividends.

Q1 2025 Financial Results Conference Call
Date: September 6, 2024
Time: 8:30 a.m. ET
Phone number: 800-836-8184 or 646-357-8785
The call can be replayed until September 13, 2024, by calling:
888-660-6345 or 646-517-4150 (access code: 81086#)

i See Key Performance Indicators in Management’s Discussion and Analysis of the Q1 2025 Financial Statements.

ii See Non-IFRS Performance Measures in Management’s Discussion and Analysis of the Q1 2025 Financial Statements.

About Tecsys

Tecsys is a global provider of advanced supply chain solutions. With a commitment to innovation and customer success, the company equips organizations with the essential software, technology and expertise needed for operational excellence and competitive advantage. Its cloud solutions serve a diverse range of industries, including healthcare, distribution and converging commerce, across multiple complex, regulated and high-volume markets. Built on the Itopia® low-code application platform, Tecsys’ offerings include enterprise resource planning, warehouse management, consolidated service management, distribution and transportation management, supply management at the point of use and order management solutions. Tecsys provides critical data insights and control across the supply chain, ensuring that organizations are agile, responsive and scalable.

Tecsys is publicly traded on the Toronto Stock Exchange under the ticker symbol TCS. For more about Tecsys and its solutions, please visit www.tecsys.com.

Forward Looking Statements
The statements in this news release relating to matters that are not historical fact are forward-looking statements that are based on management’s beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that Tecsys Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of Tecsys Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with Tecsys Inc.’s business can be found in the MD&A section of the Company’s annual report and the most recently filed annual information form. These documents have been filed with the Canadian securities commissions and are available on our website (www.tecsys.com) and on SEDAR+ (www.sedarplus.ca).

Copyright © Tecsys Inc. 2024. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.

Non-IFRS Measures

Reconciliation of EBITDA and Adjusted EBITDA

EBITDA is calculated as earnings before interest expense, interest income, income taxes, depreciation and amortization. Adjusted EBITDA is calculated as EBITDA before stock-based compensation and restructuring costs. The exclusion of interest expense, interest income, income taxes and restructuring costs eliminates the impact on earnings derived from non-operational activities and non-recurring items, and the exclusion of depreciation, amortization and stock-based compensation eliminates the non-cash impact of these items.

The Company believes that these measures are useful measures of financial performance without the variation caused by the impacts of the items described above and that could potentially distort the analysis of trends in our operating performance. In addition, they are commonly used by investors and analysts to measure a company’s performance, its ability to service debt and to meet other payment obligations, or as a common valuation measurement. Excluding these items does not imply that they are necessarily non-recurring. Management believes these non-IFRS financial measures, in addition to conventional measures prepared in accordance with IFRS, enable investors to evaluate the Company’s operating results, underlying performance and future prospects in a manner similar to management. Although EBITDA and Adjusted EBITDA are frequently used by securities analysts, lenders and others in their evaluation of companies, they have limitations as an analytical tool, and should not be considered in isolation, or as a substitute for analysis of the Company’s results as reported under IFRS.

The reconciliation of EBITDA and Adjusted EBITDA to the most directly comparable IFRS measure is provided below.

       Three months

         Trailing 12 months

       ended July 31,

            ended July 31,

(in thousands of CAD)

2024

2023

2024

2023

Net profit for the period

$

798

$

1,171

$

1,476

$

3,220

Adjustments for:

Depreciation of property and equipment and right-of-use assets

371

384

1,464

1,729

Amortization of deferred development costs

197

142

638

536

Amortization of other intangible assets

334

396

1,431

1,603

Interest expense

25

38

150

325

Interest income

(217)

(269)

(963)

(851)

Income taxes

436

859

218

2,458

EBITDA

$

1,944

$

2,721

$

4,414

$

9,020

Adjustments for:

Stock based compensation

647

452

2,496

2,153

Restructuring costs

–

–

2,122

–

Adjusted EBITDAii

$

2,591

$

3,173

$

9,032

$

11,173

 

Condensed Interim Consolidated Statements of Financial Position
(Unaudited)

(In thousands of Canadian dollars)

July 31, 2024

April 30, 2024

Assets

Current assets

Cash and cash equivalents

$

10,705

$

18,856

Short-term investments

16,358

16,713

Accounts receivable

19,691

22,090

Work in progress

6,739

4,248

Other receivables

449

134

Tax credits

7,708

6,422

Inventory

2,073

1,359

Prepaid expenses and other

8,294

9,143

Total current assets

72,017

78,965

Non-current assets

Other long-term receivables and assets

552

421

Tax credits

4,914

4,737

Property and equipment

1,319

1,372

Right-of-use assets

1,147

1,251

Contract acquisition costs

4,466

4,478

Deferred development costs

2,938

2,683

Other intangible assets

7,450

7,703

Goodwill

17,470

17,363

Deferred tax assets

9,073

9,073

Total non-current assets

49,329

49,081

Total assets

$

121,346

$

128,046

Liabilities

Current liabilities

Accounts payable and accrued liabilities

18,153

20,030

Deferred revenue

33,261

36,211

Lease obligations

826

812

Total current liabilities

52,240

57,053

Non-current liabilities

Other long-term accrued liabilities

339

496

Deferred tax liabilities

840

826

Lease obligations

1,094

1,302

Total non-current liabilities

2,273

2,624

Total liabilities

$

54,513

$

59,677

Equity

Share capital

$

52,394

$

52,256

Contributed surplus

7,992

9,417

Retained earnings

7,735

8,121

Accumulated other comprehensive loss

(1,288)

(1,425)

Total equity attributable to the owners of the Company

66,833

68,369

Total liabilities and equity

$

121,346

$

128,046

 

Condensed Interim Consolidated Statements of Income and Comprehensive Income
(Unaudited)

(In thousands of Canadian dollars, except per share data)

Three Months Ended July 31,

2024

2023

Revenue:

SaaS

$

15,314

$

11,495

Maintenance and Support

8,715

8,298

Professional Services

13,387

14,908

License

861

456

Hardware

3,999

6,818

Total revenue

42,276

41,975

Cost of revenue

22,548

22,475

Gross profit

19,728

19,500

Operating expenses:

Sales and marketing

8,352

7,671

General and administration

2,978

2,959

Research and development, net of tax credits

7,331

7,112

Total operating expenses

18,661

17,742

Profit from operations

1,067

1,758

Other income

167

272

Profit before income taxes

1,234

2,030

Income tax expense

436

859

Net profit

$

798

$

1,171

Other comprehensive income (loss):

Effective portion of changes in fair value on designated revenue hedges

(20)

2,573

Exchange differences on translation of foreign operations

157

(426)

Comprehensive income

$

935

$

3,318

Basic and diluted earnings per common share

$

0.05

$

0.08

 

Condensed Interim Consolidated Statements of Cash Flows
(Unaudited)

(In thousands of Canadian dollars)

Three Months Ended July 31,

2024

2023

Cash flows from operating activities:

Net profit

$

798

$

1,171

Adjustments for:

Depreciation of property and equipment and right-of-use-assets

371

384

Amortization of deferred development costs

197

142

Amortization of other intangible assets

334

396

Interest (income) expense and foreign exchange (gain) loss

(167)

(272)

Unrealized foreign exchange and other

(123)

(1,198)

Non-refundable tax credits

(429)

(440)

Stock-based compensation

647

452

Income taxes

3

14

Net cash from operating activities excluding changes in non-cash working capital items related to operations

1,631

649

Accounts receivable

2,434

(1,820)

Work in progress

(2,486)

(829)

Other receivables and assets

(520)

(262)

Tax credits

(1,034)

(1,071)

Inventory

(714)

(842)

Prepaid expenses

903

(283)

Contract acquisition costs

(39)

3

Accounts payable and accrued liabilities

(3,119)

(3,566)

Deferred revenue

(2,961)

1,376

Changes in non-cash working capital items related to operations

(7,536)

(7,294)

Net cash used in operating activities

(5,905)

(6,645)

Cash flows from financing activities:

Payment of lease obligations

(198)

(199)

Interest paid

(25)

(38)

Issuance of common shares on exercise of stock options

277

1,763

Shares repurchased and cancelled

(2,211)

–

Net cash (used in) provided by financing activities

(2,157)

1,526

Cash flows from investing activities:

Interest received

24

36

Transfers from short-term investments

548

22

Acquisitions of property and equipment

(209)

(102)

Deferred development costs

(452)

(247)

Net cash used in investing activities

(89)

(291)

Net decrease in cash and cash equivalents during the period

(8,151)

(5,410)

Cash and cash equivalents – beginning of period

18,856

21,235

Cash and cash equivalents – end of period

$

10,705

$

15,825

 

Condensed Interim Consolidated Statements of Changes in Equity
(Unaudited)

(In thousands of Canadian dollars, except number of shares)

Share capital

Contributed
Surplus

 

Accumulated other
comprehensive
(loss) income

Retained
earnings

Total

Number

Amount

Balance, May 1, 2024

14,840,150

$

52,256

$

9,417

$

(1,425)

$

8,121

$

68,369

Net profit

–

–

–

–

798

798

Other comprehensive (loss) income:

–

–

–

–

–

–

Effective portion of changes in fair value on designated revenue hedges

–

–

–

(20)

–

(20)

Exchange difference on translation of foreign operations

–

–

–

157

–

157

Total comprehensive income

–

–

–

137

798

935

Shares repurchased and cancelled

(59,600)

(210)

(2,001)

–

–

(2,211)

Stock-based Compensation

–

–

647

–

–

647

Dividends to equity owners

–

–

–

–

(1,184)

(1,184)

Share options exercised

12,537

348

(71)

–

–

277

Total transactions with owners of the Company

(47,063)

$

138

(1,425)

$

–

$

(1,184)

$

(2,471)

Balance, July 31, 2024

14,793,087

$

52,394

7,992

$

(1,288)

$

7,735

$

66,833

Balance, May 1, 2023

14,582,837

$

44,338

15,285

$

(17)

$

10,832

$

70,438

Net profit

–

–

–

–

1,171

1,171

Other comprehensive income:

–

Effective portion of changes in fair value on designated revenue hedges

–

–

–

2,573

–

2,573

Exchange difference on translation of foreign operations

–

–

–

(426)

–

(426)

Total comprehensive income

–

–

–

2,147

1,171

3,318

Stock-based Compensation

–

–

452

–

–

452

Dividends to equity owners

–

–

–

–

(1,102)

(1,102)

Share options exercised

111,306

2,307

(544)

–

–

1,763

Total transactions with owners of the Company

111,306

$

2,307

(92)

$

–

$

(1,102)

$

1,113

Balance, July 31, 2023

14,694,143

$

46,645

15,193

$

2,130

$

10,901

$

74,869

 

SOURCE Tecsys Inc.

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Wistron Celebrates Grand Opening of First U.S. Smart Factory Marking Milestone in Global Smart Manufacturing Strategy

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July 22, 2026

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FORT WORTH, Texas, July 21, 2026 /PRNewswire/ — Wistron Corporation (“Wistron”) celebrated the grand opening of its D1 AI smart facility in Fort Worth, Texas, the site where the first NVIDIA GB300 Grace Blackwell Ultra Superchip was built and mass-produced in the United States. The US$ 700 million facility, spanning approximately 324,000 square foot, was officially unveiled during a ceremony led by Wistron Chairman Simon Lin and NVIDIA Founder and CEO Jensen Huang. Jessica Rogers, Director of the Economic Development Department for the City of Fort Worth, and Alexander Tah-ray Yui, Taiwan’s Representative to the United States, were among the government officials and business leaders who attended, marking a milestone in the expansion of Wistron’s global footprint and advanced manufacturing capabilities.

This is a key hub in Wistron’s global AI infrastructure manufacturing network. The facility runs on NVIDIA accelerated computing and integrates NVIDIA’s Nemotron and Cosmos open frontier models and Omniverse and Metropolis libraries, using digital twin technology to optimize factory design, production workflows, and operational efficiency. It is Wistron’s first U.S.-based manufacturing facility, established to serve customers locally and produce NVIDIA’s most advanced and cutting-edge products. Wistron Chairman Simon Lin said “The operation here is not typical manufacturing. It is new, very comprehensive, and high-tech. Right now we produce the NVIDIA GB300 Grace Blackwell Ultra Superchip, and beyond, we are also going to produce the NVIDIA Vera Rubin Superchip here. In the next couple of years, this location will be one of the most important, as we build AI infrastructure here in the United States. I think this is the reason we say that there will be the next chapter, and we are going to empower AI from Texas.”

Responding to Customer Needs: Texas, the Newest Global Manufacturing Hub
At this pivotal moment for global AI infrastructure, Wistron is drawing on decades of global manufacturing experience to expand its footprint in Texas, a state with a well-established ecosystem for logistics, talent recruitment, and advanced manufacturing. The new D1 facility produces the NVIDIA GB300 Grace Blackwell Ultra Superchip and soon, the NVIDIA Vera Rubin Superchip — critical to powering the next generation of AI computing. The new Fort Worth facility strengthens a critical upstream layer of the AI infrastructure supply chain by expanding domestic capacity to assemble and test NVIDIA AI systems. These servers can be integrated into NVIDIA DSX infrastructure, with DSX providing the common architecture and technologies needed to deploy and operate energy-efficient AI factories at scale.

One-Stop Operational Ecosystem Strengthens U.S. AI Supply Chain Resilience
Behind every breakthrough in AI computing lies the manufacturing capability to scale it. Wistron is expanding its AI server production capabilities from Taiwan to the United States, guided by a vision of precision, efficiency, and sustainability. This reflects a broader industry shift: AI leadership is determined not only by technological breakthroughs, but also by the operational capability to transform innovation into high-volume production with consistent quality, supply chain resilience, and predictable delivery. By establishing AI infrastructure manufacturing capacity in the United States, Wistron is building a one-stop operational ecosystem spanning manufacturing and after-sales service — shortening delivery timelines and customer support cycles, strengthening supply chain resilience, and laying the foundation for long-term competitive advantage as AI infrastructure continues to scale.

Partnering with NVIDIA to Pioneer a New Model for Smart Manufacturing and Energy Optimization
As the era of physical AI begins, Wistron is extending its smart manufacturing capabilities to the United States, creating a new model for AI infrastructure production built on digital manufacturing, energy optimization, and local operations. Jensen Huang said: “The largest infrastructure buildout in history is underway. Demand for AI factories—the engine of this next industrial revolution—is incredible, and they must be produced everywhere. Together, NVIDIA and Wistron are restoring US advanced manufacturing capacity in Texas, creating skilled jobs and strengthening America’s AI supply chain.” As demand for advanced manufacturing grows in Texas, smarter planning of production loads and energy use will give the plant greater control and flexibility over its electricity needs.

Turning Global Experience into Scalable AI Infrastructure
Simon Lin stressed that the speed the AI era demands comes with its own responsibility. “In the AI era, the pressure of speed is also a form of responsibility,” Lin said. “We don’t just need to build fast; we need to build right.”

The Fort Worth plant will serve as the core engine of Wistron’s U.S. manufacturing operations, the company said, connecting its global production network with ecosystem partners as it scales advanced AI manufacturing. Wistron said that the investment reflects efforts to deepen its technical capabilities, strengthen the resilience and efficiency of global supply chains, and support the next phase of AI infrastructure development.

About Wistron:
Wistron Corporation is a leading global technology service provider delivering advanced ICT products, AI infrastructure, and manufacturing solutions to technology brands worldwide. With more than 63,000 employees across North America, Europe, and Asia, Wistron continues to expand its AI, cloud, and advanced manufacturing capabilities to support the next generation of intelligent computing. For more information about Wistron, please visit the official website at www.wistron.com. Additional information about the event is available on the event website.

Media Contact:
Joyce WL Chou
joyce_wl_chou@wistron.com

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SOURCE Wistron Corporation

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NSG Bio Accelerates Breakthrough Biotech Innovation in Singapore

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July 22, 2026

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New initiative under NSG Bio Tomorrow will support promising startups developing next-generation approaches in respiratory and neonatal care

SINGAPORE, July 22, 2026 /PRNewswire/ — The NSG Bio Tomorrow initiative aims at supporting emerging life sciences startups working on complex challenges in respiratory and neonatal care.

Launched through the support of Chiesi Group, The Impulse initiative will provide a selected startup with one year of NSG Bio membership and access to a dedicated laboratory bench at NSG Bio Singapore. The initiative is designed to help early-stage biotech companies move from promising science toward stronger proof-of-concept work in a fully equipped research environment.

The initiative comes at a time when the biotech industry is increasingly looking for faster, more connected ways to move high-potential science from the lab toward real-world patient impact. For startups, access to infrastructure is only one part of the challenge. Equally important are the right networks, industry visibility, technical environment, and opportunities to engage with partners who understand the path from early discovery to clinical relevance.

The programme will focus on startups developing innovative biotechnological solutions with potential relevance to chronic respiratory diseases and neonatal conditions. Areas of interest include cell therapies, gene therapies, gene-editing technologies, regenerative tissue engineering, engineered or programmable living systems, lung-targeted delivery platforms, preventive approaches, and small-molecule-based approaches.

The selected startup will gain access to NSG Bio’s laboratory infrastructure, shared workspaces, meeting facilities, and wider community of biotech entrepreneurs, researchers, scientific leaders, and industry partners. The support is intended to help the company advance key research milestones while becoming part of Singapore’s growing life-science innovation ecosystem.

For NSG Bio, the initiative is part of NSG Bio Tomorrow, its ecosystem-building arm created to expand the company’s role beyond facilities and real estate. While NSG Bio is known for providing high-quality laboratory and office infrastructure for biotech companies, NSG Bio Tomorrow focuses on building the programmes, partnerships, and opportunities that help startups grow.

“Biotech companies need more than lab space. They need access, momentum, and the right ecosystem around them,” said Hasyim Sim, Co-Founder and Chief Operating Officer, NSG Bio. “Through NSG Bio Tomorrow, we are building initiatives that help promising startups connect with partners, unlock opportunities, and move their science forward. This initiative reflects exactly the kind of role we want to play in the biotech ecosystem.”

“Chiesi is committed to supporting innovation that can make a meaningful difference for patients, and we work with entrepreneurs, researchers and partners to advance meaningful ideas,” said Fabrizio Conicella, Vice President, Center of Open Innovation & Competence at Chiesi Group. “By supporting this NSG Bio Tomorrow initiative, we want to create an opportunity for early-stage innovators to access the infrastructure and ecosystem support needed to develop impactful science in respiratory and neonatal care.”

NSG Bio Tomorrow programme also reinforces Singapore’s position as a growing hub for biotech innovation in Asia, where startups, research institutions, investors, and industry partners are increasingly coming together to support the next generation of healthcare companies.

Applications open on 22 July 2026 at 09:00 a.m. SGT. Finalists will be invited to present at a virtual pitch event, after which the selected startup will be announced.

About NSG Bio

NSG Bio is Singapore’s leading provider of BSL-2 certified co-working laboratory and office spaces, supporting life-science companies from early research through growth. Through its facilities, community, and ecosystem initiatives, NSG Bio enables biotech innovators to accelerate research, access networks, and build companies that address critical healthcare challenges.

About NSG Bio Tomorrow

NSG Bio Tomorrow is NSG Bio’s ecosystem-building arm, created to support the next generation of biotech innovation through partnerships, programmes, community initiatives, and opportunities that extend beyond physical laboratory infrastructure. Its mission is to strengthen the biotech industry by connecting startups with the resources, expertise, and networks they need to thrive.

About Chiesi Group 

Chiesi is a research-oriented international biopharmaceutical group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. The company’s mission is to improve people’s quality of life and act responsibly towards both the community and the environment. As a certified B Corp since 2019, Chiesi is part of a global community of businesses that meet high standards of social and environmental impact. 

With 90 years of experience, Chiesi is headquartered in Parma (Italy), with 31 affiliates worldwide, and counts more than 7,900 employees. The Group’s research and development centre in Parma works alongside 6 other important R&D hubs in France, the US, Canada, China, the UK, and Sweden. For further information please visit https://www.chiesi.com/en/home 

Media Contact
Giridharan
Laboratory Manager
NSG Bio
giridharan@nsgbio.com
87797175

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SOURCE NSG Bio

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House Judiciary Committee Passes Bill that Would Prevent Future Immigration Crises: Swift Action Needed by Full House, Says FAIR

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July 22, 2026

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WASHINGTON, July 21, 2026 /PRNewswire/ — Today, the House Judiciary Committee passed an updated version of H.R. 2, the landmark border security bill from last congressional session. The bill now awaits consideration by the full House of Representatives. The Federation for American Immigration Reform (FAIR) urges Speaker Mike Johnson to schedule a final floor vote as soon as possible.

The Secure Border Act systematically closes the loopholes that allowed the Biden administration to unleash the largest and most damaging wave of illegal immigration in American history. Enactment of this legislation would prevent future anti-borders administrations from shirking their responsibilities to secure our borders and enforce our immigration laws; asserting unlimited discretion to parole inadmissible aliens to enter the country; or releasing millions of illegal aliens into the country, rather than detaining them or returning them to the country from which they entered.

“We congratulate the Judiciary Committee for its swift action on this critical legislation,” said Dale Wilcox, executive director and general counsel of FAIR. “Ending border chaos and rampant illegal immigration was a key reason that Republicans regained control of the White House and both chambers of Congress in the last election. The clock is ticking on the 119th Congress, and Republicans only have a short time to deliver on the promises they made to voters in 2024, before the midterms.

“Right now, our immigration laws are being enforced in the interests of the American people. As the last administration demonstrated, enforcement of those laws is not guaranteed unless Congress acts to prevent similar abuse in the future. Now is the time for decisive action in the House, where this bill can be passed with a simple majority vote, and an opportunity for Senate Majority Leader John Thune to put every member of that body on record before voters go to the polls in the fall,” Wilcox concluded.

Hayley Hill, hhill@fairus.org 202-328-7004

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SOURCE Federation for American Immigration Reform (FAIR)

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