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Tecsys Reports Financial Results for the Third Quarter of Fiscal 2025

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Record Revenue Quarter Led by SaaS

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

“This quarter, we achieved record revenue driven by strong growth in SaaS.  We’re seeing diversified activity across key sectors, from major health systems to healthcare 3PLs as well as industrial distributors.  Our pharmacy supply chain solutions continue to drive strong market activity.” said Peter Brereton, president and CEO of Tecsys.

Mark Bentler, chief financial officer of Tecsys, added, “We are experiencing strong momentum in our SaaS business, coupled with increasing profitability. We’re pleased to see Adjusted EBITDA scaling effectively, up 33% year-to-date.”

Third quarter highlights:

SaaS revenue increased by 22% to $17.3 million, up from $14.2 million in Q3 2024.SaaS subscription bookingsi (measured on an ARRi basis) were $4.0 million compared to $4.9 million in the third quarter of fiscal 2024.SaaS Remaining Performance Obligation (RPOi) increased by 34% to $210.2 million at January 31, 2025, up from $157.2 million at the same time last year.Total revenue increased to a record $45.2 million compared to $43.8 million in Q3 2024.Net profit was $1.2 million or $0.08 per share on a fully diluted basis in Q3 2025, compared to a net profit of $0.8 million or $0.05 per share for the same period in fiscal 2024.Adjusted EBITDAii was $3.5 million compared to $2.6 million reported in Q3 last year.In the third quarter of fiscal 2025, Tecsys acquired 38,200 of its outstanding common shares for approximately $1.7 million as part of its ongoing Normal Course Issuer Bid, compared to 50,400 shares acquired in the same period last year for approximately $1.5 million.

Year-to-date performance for first nine months of fiscal 2025

SaaS revenue increased by 29% to $48.7 million, up from $37.7 million in the same period of fiscal 2024.SaaS subscription bookingsi (measured on an ARRi basis) increased by 3% to $10.8 million, compared to $10.5 million in the same period of fiscal 2024.Total revenue increased to $129.9 million compared to $127.3 million in the same period of fiscal 2024.Net profit was $2.7 million ($0.19 per basic share or $0.18 per fully diluted share) in the first nine months of fiscal 2025, compared to a net profit of $1.6 million ($0.11 per basic and fully diluted share) for the same period in fiscal 2024.Adjusted EBITDAii was $9.1 million compared to $6.8 million reported in the same period of fiscal 2024.In the first nine months of fiscal 2025, Tecsys acquired 149,400 of its outstanding common shares for approximately $6.0 million as part of its ongoing Normal Course Issuer Bid, compared to 76,200 shares acquired in the same period last year for approximately $2.2 million.

Financial guidance:

Tecsys is maintaining its FY25 guidance for SaaS revenue growth of 30-32% and Adjusted EBITDA margins of 8-9% for FY25 and 10-11% for FY26. We saw strong Q3 Professional Services bookings and year-over-year growth in SaaS bookings; however, the timing of these bookings is expected to result in full-year AEBITDA margins and SaaS revenue being at the lower end of the guidance range.

Overall, based on actual third quarter hardware shipments and visibility into overall fourth quarter revenue, the Company is raising its fiscal 2025 total revenue growth guidance from flat to 1-3% growth and will provide fiscal 2026 guidance with its Q4 and full-year fiscal 2025 earnings release.

On March 5, 2025, the Company declared a quarterly dividend of $0.085 per share to be paid on April 16, 2025 to shareholders of record on March 26, 2025.

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

i See Key Performance Indicators in Management’s Discussion and Analysis of the Q3 2025 Financial Statements.

ii See Non-IFRS Performance Measures in Management’s Discussion and Analysis of the Q3 2025 Financial Statements

Q3 2025 Financial Results Conference Call
Date: March 6, 2025
Time: 8:30 a.m. ET
Phone number: 800-836-8184 or 646-357-8785
The call can be replayed until March 13, 2025, by calling:
888-660-6345 or 646-517-4150 (access code: 14330#)

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. 2025. 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

ended January 31,

Nine months

ended January 31,

Trailing 12 months

ended January 31,

(in thousands of CAD)

2025

2024

2025

2024

2025

2024

Net profit for the period

$

1,193

$

759

$

2,749

$

1,590

$

3,008

$

2,036

Adjustments for:

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

376

355

1,124

1,116

1,485

1,556

Amortization of deferred development costs

190

147

585

436

732

581

Amortization of other intangible assets

322

356

984

1,146

1,331

1,548

Interest expense

18

45

67

136

94

153

Interest income

(150)

(260)

(530)

(782)

(763)

(993)

Income taxes

811

644

1,674

1,422

893

2,177

EBITDA

$

2,760

$

2,046

$

6,653

$

5,064

$

6,780

$

7,058

Adjustments for:

Stock based compensation

775

594

2,415

1,770

2,946

2,225

Restructuring costs

2,122

Adjusted EBITDAii

$

3,535

$

2,640

$

9,068

$

6,834

$

11,848

$

9,283

 

Condensed Interim Consolidated Statements of Financial Position
(Unaudited)

(In thousands of Canadian dollars)

January 31, 2025

April 30, 2024

Assets

Current assets

Cash and cash equivalents

$

20,970

$

18,856

Short-term investments

11,614

16,713

Accounts receivable

21,563

22,090

Work in progress

7,060

4,248

Other receivables

189

134

Tax credits

5,365

6,422

Inventory

1,937

1,359

Prepaid expenses and other

9,756

9,143

Total current assets

78,454

78,965

Non-current assets

Other long-term receivables and assets

640

421

Tax credits

6,757

4,737

Property and equipment

1,068

1,372

Right-of-use assets

934

1,251

Contract acquisition costs

4,610

4,478

Deferred development costs

3,430

2,683

Other intangible assets

6,833

7,703

Goodwill

17,517

17,363

Deferred tax assets

9,073

9,073

Total non-current assets

50,862

49,081

Total assets

$

129,316

$

128,046

Liabilities

Current liabilities

Accounts payable and accrued liabilities

24,677

20,030

Deferred revenue

38,684

36,211

Lease obligations

732

812

Total current liabilities

64,093

57,053

Non-current liabilities

Other long-term accrued liabilities

3,886

496

Deferred tax liabilities

552

826

Lease obligations

783

1,302

Total non-current liabilities

5,221

2,624

Total liabilities

$

69,314

$

59,677

Equity

Share capital

$

53,788

$

52,256

Contributed surplus

5,877

9,417

Retained earnings

7,251

8,121

Accumulated other comprehensive loss

(6,914)

(1,425)

Total equity attributable to the owners of the Company

60,002

68,369

Total liabilities and equity

$

129,316

$

128,046

 

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

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

Three Months Ended

January 31,

Nine Months Ended

January 31,

2025

2024

2025

2024

Revenue:

SaaS

$

17,252

$

14,160

$

48,696

$

37,727

Maintenance and Support

8,142

8,620

24,560

25,817

Professional Services

13,920

13,021

41,452

40,798

License

212

396

1,517

1,104

Hardware

5,655

7,626

13,674

21,841

Total revenue

45,181

43,823

129,899

127,287

Cost of revenue

23,907

23,893

68,449

69,512

Gross profit

21,274

19,930

61,450

57,775

Operating expenses:

Sales and marketing

9,053

8,223

26,457

24,539

General and administration

3,096

2,650

9,273

8,580

Research and development, net of tax credits

7,114

7,834

21,650

22,079

Total operating expenses

19,263

18,707

57,380

55,198

Profit from operations

2,011

1,223

4,070

2,577

Other (costs) income

(7)

180

353

435

Profit before income taxes

2,004

1,403

4,423

3,012

Income tax expense

811

644

1,674

1,422

Net profit

$

1,193

$

759

$

2,749

$

1,590

Other comprehensive (loss) income:

Effective portion of changes in fair value on designated revenue hedges

(5,188)

4,101

(5,721)

1,101

Exchange differences on translation of foreign  operations

(90)

(90)

232

(424)

Comprehensive (loss) income

$

(4,085)

$

4,770

$

(2,740)

$

2,267

Basic earnings per common share

$

0.08

$

0.05

$

0.19

$

0.11

Diluted earnings per common share

$

0.08

$

0.05

$

0.18

$

0.11

 

Condensed Interim Consolidated Statements of Cash Flows
(Unaudited)

(In thousands of Canadian dollars)

Three Months Ended

January 31,

Nine Months Ended

January 31,

2025

2024

2025

2024

Cash flows from operating activities:

Net profit

$

1,193

$

759

$

2,749

$

1,590

Adjustments for:

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

376

355

1,124

1,116

Amortization of deferred development costs

190

147

585

436

Amortization of other intangible assets

322

356

984

1,146

Interest (income) expense and foreign exchange loss

7

(180)

(353)

(435)

Unrealized foreign exchange and other

516

(452)

599

(1,050)

Non-refundable tax credits

(1,008)

(151)

(1,942)

(1,365)

Stock-based compensation

775

594

2,415

1,770

Income taxes

34

78

221

454

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

2,405

1,506

6,382

3,662

Accounts receivable

269

(4,175)

571

(1,950)

Work in progress

(2,563)

557

(2,804)

(1,662)

Other receivables and assets

90

184

(346)

136

Tax credits

3,338

3,160

979

841

Inventory

178

213

(576)

(871)

Prepaid expenses

(1,534)

(304)

(571)

(945)

Contract acquisition costs

(251)

(401)

(171)

(261)

Accounts payable and accrued liabilities

3,111

3,890

1,111

597

Deferred revenue

1,764

(2,295)

2,455

327

Changes in non-cash working capital items related to operations

4,402

829

648

(3,788)

Net cash provided by (used in) operating activities

6,807

2,335

7,030

(126)

Cash flows from financing activities:

Payment of lease obligations

(205)

(195)

(607)

(593)

Payment of dividends

(1,251)

(1,177)

(3,619)

(3,385)

Interest paid

(18)

(45)

(67)

(136)

Issuance of common shares on exercise of stock options

971

423

1,568

3,067

Shares repurchased and cancelled

(1,679)

(1,532)

(5,991)

(2,205)

Net cash used in financing activities

(2,182)

(2,526)

(8,716)

(3,252)

Cash flows from investing activities:

Interest received

32

22

59

91

Transfers from short-term investments

18

5,570

40

Acquisitions of property and equipment

(88)

(190)

(497)

(455)

Deferred development costs

(447)

(309)

(1,332)

(809)

Net cash (used in) provided by investing activities

(503)

(459)

3,800

(1,133)

Net increase (decrease) in cash and cash equivalents during the period

4,122

(650)

2,114

(4,511)

Cash and cash equivalents – beginning of period

16,848

17,374

18,856

21,235

Cash and cash equivalents – end of period

$

20,970

$

16,724

$

20,970

$

16,724

 

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

2,749

2,749

Other comprehensive (loss) income:

Effective portion of changes in fair value on designated revenue hedges

(5,721)

(5,721)

Exchange difference on translation of foreign operations

232

232

Total comprehensive (loss) income

(5,489)

2,749

(2,740)

Shares repurchased and cancelled

(149,400)

(531)

(5,460)

(5,991)

Stock-based Compensation

2,415

2,415

Dividends to equity owners

(3,619)

(3,619)

Share options exercised

53,337

2,063

(495)

1,568

Total transactions with owners of the Company

(96,063)

$

1,532

$

(3,540)

$

$

(3,619)

$

(5,627)

Balance, January 31, 2025

14,744,087

$

53,788

$

5,877

$

(6,914)

$

7,251

$

60,002

Balance, May 1, 2023

14,582,837

$

44,338

15,285

$

(17)

$

10,832

$

70,438

Net profit

1,590

1,590

Other comprehensive income:

Effective portion of changes in fair value on designated revenue hedges

1,101

1,101

Exchange difference on translation of foreign operations

(424)

(424)

Total comprehensive income

677

1,590

2,267

Shares repurchased and cancelled

(76,200)

(248)

(1,957)

(2,205)

Stock-based Compensation

1,770

1,770

Dividends to equity owners

(3,385)

(3,385)

Share options exercised

192,302

3,936

(869)

3,067

Total transactions with owners of the Company

116,102

$

3,688

$

(1,056)

$

$

(3,385)

$

(753)

Balance, January 31, 2024

14,698,939

$

48,026

$

14,229

$

660

$

9,037

$

71,952

 

SOURCE Tecsys Inc.

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Danish Publisher Automates Digital Textbook Delivery with Integrated WooCommerce-Webdoxx Solution

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Danish educational publisher eliminates manual processing errors and delivers instant access to more than 20 digital learning products

LONDON, May 3, 2026 /PRNewswire-PRWeb/ — Forlaget 94, a Danish educational publisher serving commercial colleges and vocational schools since 1994, has transformed its digital textbook distribution by implementing a fully automated WooCommerce-Webdoxx solution.

“Using the Webdoxx-WooCommerce integration we have achieved full automation of order processing, fewer errors, and happier customers,” Tom Gertsen, IT Manager at Forlaget 94

Previously, Forlaget 94 relied on manual processes to distribute digital textbooks to customers. As demand for online educational materials grew, the publisher required a faster, more reliable way to manage orders, provision access, and reduce the risk of administrative errors.

Through its integration of WooCommerce with Webdoxx, Forlaget 94 now runs more than 20 educational products through a 100% automated workflow. The solution automatically processes customer orders and provides instant access to purchased digital textbooks, improving the experience for both customers and internal teams.

“The result is full automation of order processing, fewer errors, and happier customers,” said Tom Gertsen, IT Manager at Forlaget 94 and architect behind the WooCommerce-Webdoxx integration. The automated system has enabled Forlaget 94 to eliminate manual errors, accelerate customer processing, and increase customer satisfaction through immediate access provisioning. The implementation demonstrates how educational publishers can modernize digital content delivery while maintaining secure, managed access to learning materials.

Webdoxx, a service created and managed by Drumlin Security Ltd, provides online DRM and managed document delivery services for publishers, educational organizations, institutions, and commercial content providers.

About Forlaget 94

Forlaget 94 is a Danish educational publisher established in 1994, providing educational products for commercial colleges and vocational schools.

About Webdoxx

Webdoxx is an online DRM and managed document delivery service created and managed by Drumlin Security Ltd. The platform supports secure access to digital publications and documents across a range of sectors, including education, healthcare, government, finance, and publishing.

Media Contact

Mike de Smith, Drumlin Security Ltd, 44 7768404712, info@drumlinsecurity.com, https://www.drumlinsecurity.com/

View original content to download multimedia:https://www.prweb.com/releases/danish-publisher-automates-digital-textbook-delivery-with-integrated-woocommerce-webdoxx-solution-302759942.html

SOURCE Forlaget 94

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139th Canton Fair Phase 3 Advances Toward a Better Life with New and Strengthened Product Zones

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GUANGZHOU, China, May 3, 2026 /PRNewswire/ — The 139th China Import and Export Fair (Canton Fair) has rolled out nine newly established product zones. Phase 3 features an expanded and upgraded Intelligent Healthcare zone and the inaugural presentation of a Functional & Technical Fabrics zone.

The upgraded Intelligent Healthcare zone brings together 50 companies presenting a full spectrum of intelligent medical solutions, spanning AI-powered diagnostics, surgical robotics, and next‑generation eldercare technologies. Exhibits highlight how medical devices are becoming smaller, more precise, and increasingly non‑invasive. Capsule endoscopy systems demonstrate how gastrointestinal screening can be completed without discomfort, while AI‑enabled traditional Chinese medicine analyzers compress the inspection and inquiry process into minutes. Wearable glucose monitors make chronic disease management easier and more convenient.

Robotic technologies play a prominent role as well. Endoscopic and orthopedic surgical robots showcase enhanced precision through integrated human‑machine coordination, while bionic prosthetic hands use non‑invasive myoelectric sensing to independently control each finger. Intelligent rehabilitation systems, including lower‑limb exoskeletons and hand‑training devices, provide consistent support for patients recovering mobility. Companion‑style eldercare robots, equipped with monitoring and telemedicine functions, signal the rise of integrated home‑based health services.

The debuting Functional & Technical Fabrics zone highlights how the traditional textile industry is moving toward higher-end and smarter products. Exhibitors present materials that combine multi‑layered performance with intelligent responsiveness. Textiles featuring temperature‑regulating fibers, phase‑change materials, and light‑ or heat‑sensitive color‑shifting effects illustrate how fabrics are evolving into adaptive platforms capable of responding to environmental conditions.

Sustainability emerges as a defining theme. Bio‑based fibers, degradable films, recycled polyester, and organic cotton reflect a shift from isolated eco‑products toward full‑chain green manufacturing. High‑performance outdoor and protective applications further shape the narrative. Materials engineered for waterproof breathability, UV resistance, flame retardancy, and long‑term durability address rising demand across sportswear, professional protection, and medical environments. Smart textiles with embedded health‑monitoring modules demonstrate how apparel is beginning to function as a continuous wellness interface.

Both technology‑driven healthcare and advanced textiles are converging around a shared pursuit of a better life. As these advancements continue to evolve, they reflect a manufacturing landscape increasingly shaped by innovation, resilience, and a commitment to improving everyday living.

For pre-registration, please click: https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/139th-canton-fair-phase-3-advances-toward-a-better-life-with-new-and-strengthened-product-zones-302760704.html

SOURCE Canton Fair

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CupidFeel Insights Show How Shared Interests Affect Initial Connection Outcomes

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New behavioral insights from CupidFeel offer a carefully considered look at how shared interests influence whether an initial connection on a dating platform is sustained or abandoned in those first critical exchanges.

GIBRALTAR, May 3, 2026 /PRNewswire-PRWeb/ — The findings by CupidFeel are not dramatic, but they are telling. People who referenced a shared interest — whether a genre of music, a type of cuisine, a sport, a creative practice, or even a shared discomfort with small talk — within the first few exchanges of a new conversation were found to be measurably more likely to continue that conversation beyond the initial contact window. The effect was not uniform across all interest categories; certain types of shared interest appeared to carry more relational weight than others.

It was also observed by CupidFeel that the timing of when shared interests entered a conversation mattered. Connections where common ground was discovered organically — through the natural flow of exchange rather than prompted by a profile field or a direct question — showed stronger indicators of sustained interest. The discovery, in other words, carried more meaning when it felt like something found rather than something declared.

Among the most quietly striking findings in the CupidFeel data was the role of specificity. Broad shared categories — “we both like travel,” “we both enjoy cooking” — were associated with polite, often brief exchanges that rarely extended past pleasantries. But when specificity entered the picture — when one person mentioned a particular documentary that had stayed with them, or a city they had visited and could not stop thinking about — the conversational energy shifted. Something opened up.

In a CupidFeel review of trends in profile engagements, those whose profiles reflected specific, idiosyncratic interests — rather than broadly appealing ones — also showed higher rates of receiving first messages, a finding that runs gently counter to the instinct many people have to present themselves in the most universally appealing terms possible.

What seemed to matter most was not the quantity of overlap but whether the overlap that existed was felt — whether it produced a sense of being seen in some particular, non-generic way. A CupidFeel review of early conversation patterns suggests that a single deeply resonant shared interest may be more generative for early connection than a long list of surface-level commonalities that, taken together, feel more like a demographic profile than a person.

About CupidFeel

CupidFeel is an online dating platform built around the belief that meaningful connections begin with emotional honesty and the willingness to let a conversation go somewhere real. It came into being for people who are less interested in the mechanics of dating and more drawn to the possibility of something that feels grounded — exchanges that move at their own pace, guided by genuine curiosity rather than performance.

A CupidFeel review of its own design principles returns consistently to the same question: what does it take for a first message to feel like it might be worth the journey? The platform makes room for the kind of interaction that doesn’t always have a clear destination but feels, from the first exchange, like something real. CupidFeel is a place where the unexpected is not something to be managed, but something to be welcomed.

Media Contact

Timothy Albers, CupidFeel, 1 14845691657, smm@cupidfeel.com, https://cupidfeel.com/

View original content:https://www.prweb.com/releases/cupidfeel-insights-show-how-shared-interests-affect-initial-connection-outcomes-302759951.html

SOURCE CupidFeel

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