Connect with us

Technology

SSC Security Services Corp. Reports Second Quarter Results with Improved Margins, Consistent Adjusted EBTIDA, and Continued Share Buybacks

Published

on

REGINA, SK, May 15, 2025 /CNW/ – SSC Security Services Corp. (“SSC” or the “Company) (TSXV: SECU) (OTCQX: SECUF), a national provider of cyber, physical and electronic security services to commercial, industrial and public sector clients across Canada, is pleased to release its results for the second quarter ended March 31, 2025. All figures are presented in Canadian dollars. 

“Our second quarter results came in as expected. We are seeing improved profitability from stronger margins as a result of careful expense management. While our year over year comparative revenue shows a slight decline from last year, this is simply because we secured fewer temporary contracts during this quarter versus that seen in Q2 2024. The good news is our gross margin has continued to strengthen, and our base business of recurring revenue continues to grow profitably. We like it when temporary contracts come in the door and they add nicely to our top line picture, however more important is strong operational management and gross margin growth within our baseline recurring monthly revenue. The size and scale of our operations nicely positions us for the temporary opportunities when they do arise. In addition, we continue to buy back our shares and take a disciplined approach to acquisitions. Our objective is always to protect our cash and be opportunistic in our efforts to grow the Company. We continue to be well capitalised and debt free,” said Chairman and CEO Doug Emsley.

Key Highlights for Q2 2025:

Continued Margin Improvement – Gross profit margin for the quarter ended March 31, 2025 was 16.1% up from 15.2% of revenue during the same quarter last year. The six-month year-to-date gross profit margin is 16.3% of revenues, up from 15.5% during the same six-month period last year.35th Consecutive Quarterly Dividend – During the quarter we paid $0.03 per share in dividends to shareholders.NCIB Share Buybacks – During the quarter we bought back 99,500 shares of the Company at an average of $2.54 per share (cancelling all 99,500 shares).Consistent Adjusted EBITDA – During the second quarter ended March 31, 2025, adjusted EBITDA was $1.0 million, consistent with adjusted EBITDA of $1.1 million in the second quarter of last year.We finished the quarter ended March 31, 2025 with:Cash and cash equivalents of $12.5 million equal to $0.68 per share;Working capital of $25.6 million;Total shareholders’ equity of $62.6 million; andNo long-term debt.

Key Performance Indicators for the comparable periods are summarized below:  

Key Performance Indicators

Quarter ended

March 31

Six months ended

March 31

(All amounts are in thousands of Canadian dollars unless otherwise indicated)

2025

2024

2025

2024

Revenue

27,676

30,402

56,871

61,284

Cost of sales

23,215

25,785

47,602

51,772

Gross margin

4,461

4,617

9,269

9,512

Gross margin (%)

16.1 %

15.2 %

16.3 %

15.5 %

Comprehensive net income (loss)

10

650

(115)

716

Comprehensive net income (loss) per share – basic

$0.00

$0.03

$(0.01)

$0.04

Adjusted net income

392

77

999

794

Adjusted net income per share – basic

$0.02

$0.00

$0.05

$0.04

Adjusted EBITDA

1,034

1,130

2,205

2,501

Adjusted EBITDA per share – basic

$0.06

$0.06

$0.12

$0.13

REVENUE, GROSS PROFIT & NET INCOME 

Revenues for the quarter ended March 31, 2025, were $27.7 million compared with $30.4 million during the quarter ended March 31, 2024, a decrease of $2.7 million (revenue decrease of 8.9%). Traditionally we see a seasonal reduction in revenues in our second quarter. In addition to seasonality, our second quarter of fiscal year 2024 had significant short-term temporary contracts that we did not see in Q2 2025. These types of short-term contracts are intermittent, but our recurring monthly revenues continue to be strong.

Gross profit for the quarter ended March 31, 2025 was $4.5 million (16.1% of revenue) compared to $4.6 million (15.2% of revenue) during the same quarter last year. The gross profit was consistent with the prior year Q2 amount, while we continued to see a slow and steady improvement to our gross profit margin percentages. These improvements are a result of our continued focus on operating efficiencies and cost reduction initiatives.

Comprehensive net income for the quarter ended March 31, 2025 was $0.0 million (profit of $0.00 per share), compared to a comprehensive net income in the same quarter last year of $0.7 million (profit of $0.03 per share).

ADJUSTED NET INCOME & ADJUSTED EBITDA

Adjusted EBITDA is the primary KPI used by the Company to measure the financial performance of the Company. Adjusted EBITDA for the quarter ended March 31, 2025, was $1.0 million ($0.06 per share), consistent with the adjusted EBITDA of $1.1 million ($0.06 per share) for the prior year second quarter ended March 31, 2024.  

Adjusted net income for the quarter ended March 31, 2025 was $0.4 million (profit of $0.02 per share), compared to an adjusted net income in the same quarter last year of $0.01 million (profit of $0.00 per share).

A reconciliation of earnings to adjusted net income and Adjusted EBITDA is provided in the Non-IFRS section of the MD&A published concurrently with this press release.*

BALANCE SHEET 

Key balance sheet items are summarized below: 

Statements of Financial Position

As at

As at

March 31, 2025

March 31, 2024

Cash

12,509

14,097

Accounts receivable

21,765

23,298

Legacy business assets

6,075

6,759

Working capital

25,605

26,871

Long-term debt

0

0

Total assets

80,056

83,774

Total liabilities

17,424

17,449

Total shareholders’ equity

62,631

66,326

Common shares outstanding

18,443

18,933

UPDATE ON NORMAL COURSE ISSUER BID 

During the quarter ended March 31, 2025, we bought back 99,500 shares at an average price of $2.54 per share (same quarter last year: 233,900 shares at an average price of $2.50 per share). All shares bought back under the normal course issuer bid have been cancelled.

We continue to believe that our shares have been trading in a price range which does not adequately reflect their value and that the purchase of shares under the NCIB will enhance shareholder value in general.  Over the past eight fiscal years, the Company has bought back and cancelled roughly 47% of the outstanding shares.

OUTLOOK 

We are seeing continued growth in demand for the kind of innovative and cost-effective security services and solutions that we offer at SSC. Our ability to combine physical and electronic security services in a fully integrated way is the future of our industry.  Additional growth may also come via acquisition, as we look to acquire other profitable companies in the Canadian security industry. Acquisitions may help us reach our growth targets more quickly, but we will not rush to complete new deals, and we will maintain our financial conservatism throughout.  

Most of our remaining legacy assets are expected to convert to cash over the next year. Our objective is to make these resources available for the expansion of our security business.

We also plan to continue to distribute capital to shareholders via our dividend, operate with minimal to no debt while maintaining solid liquidity, focusing on maintaining strong margins, and maximizing our Adjusted EBITDA per share. 

ABOUT SSC 

SSC Security Services Corp. is a national provider of cyber, physical and electronic security services to corporate and public sector clients across Canada. For more information, please visit www.securityservicescorp.ca

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 

Forward Looking Statements  

This release includes forward-looking statements regarding SSC and its business. Such statements are based on the current expectations and views of future events of SSC’s management. In some cases the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting SSC, including risks regarding the security industry, the agricultural industry, economic factors and the equity markets generally and many other factors beyond the control of SSC. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and SSC undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. 

*Non-IFRS Measures 

SSC measures key performance metrics established by management as being key indicators of the Company’s strength, using certain non-IFRS performance measures, including: 

EBITDA, EBITDA per share, Adjusted EBITDA, and Adjusted EBITDA per share.

The Company uses these non-IFRS measures for its own internal purposes. These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and these measures may be calculated differently by other companies. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The Company provides these non-IFRS measures to enable investors and analysts to understand the underlying operating and financial performance of the Company in the same way as it is frequently evaluated by Management. Management will periodically assess these non-IFRS measures and the components thereof to ensure their continued use is beneficial to the evaluation of the underlying operating and financial performance of the Company. For more detailed information, please refer to the Company’s Management Discussion and Analysis dated May 15, 2025 available on the Company’s website at www.securityservicescorp.ca and on SEDAR+ at www.sedarplus.ca.  

SOURCE SSC Security Services Corp.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Solid Joins Snowflake and Industry Leaders to Advance Open Standards for AI-Ready Semantic Context

Published

on

By

The Open Semantic Interchange (OSI) creates a universal semantic framework that enables AI agents, analytics platforms, and data systems to share trusted business context across the modern data ecosystem.

NEW YORK, July 13, 2026 /PRNewswire/ — Solid today announced it is joining the Open Semantic Interchange (OSI), an open source initiative that creates a universal specification for all companies to standardize their fragmented data definitions with an open, vendor-neutral semantic model specification. OSI aims to enhance interoperability across various tools and platforms, offering enterprises a vendor-neutral specification that provides consistent metrics and definitions across dashboards, notebooks, and machine learning models.

OSI is an open source initiative led by Snowflake, the AI Data Cloud company, and ecosystem partners across multiple domains and industries including business intelligence (BI), data governance, data engineering, AI, financial services, and manufacturing. Its goal is to create a common, vendor-agnostic specification that defines semantic metadata in a standard, open format. By facilitating seamless semantic metadata exchange, the initiative will accelerate the adoption of AI and BI tools to streamline operations and reduce complexity. This in turn allows organizations to unify their data definitions, leading to more comprehensive and accurate data analysis and data product sharing to fuel AI innovation.

By joining the Open Semantic Interchange, Solid is committed to the creation of a universal standard that simplifies data operations and accelerates innovation for the broader ecosystem,” said Yoni Leitersdorf, CEO & Co-Founder, Solid. “Our participation ensures that semantic context can automatically move seamlessly across AI agents, data warehouses, BI tools, and analytics platforms – enabling organizations to build reliable AI systems on top of a shared, interoperable understanding of their business, without vendor lock-in.”

As a member of OSI, Solid is helping to build a transparent and community-driven standard for semantic model sharing, ensuring that business metrics and definitions remain consistent and interoperable.

“Unlocking the full potential of data and AI requires a common foundation, and the Open Semantic Interchange is the critical step in building that bedrock,” said Josh Klahr, Director of Analytics Product Management at Snowflake. “Our collaboration with partners like Solid establishes a unified, vendor-neutral standard for semantic data, ensuring clarity and consistency across the entire ecosystem. This initiative is essential for simplifying data operations, fostering innovation, and preparing organizations to build the next generation of AI applications.”

OSI is poised to revolutionize interoperability within the data and AI ecosystem by providing a transparent, community-driven standard. This collaborative effort simplifies data operations, unlocks new possibilities for innovation, and gives organizations the flexibility and efficiency they need to build a future-ready data infrastructure.

To learn more about the Open Semantic Interchange visit Snowflake’s blog here.

About Solid

Solid is the AI-native context layer for enterprise AI, automatically creating, evaluating, and maintaining the semantic context AI agents need to understand and act on business data reliably. Unlike legacy semantic layers built for dashboards and manual modeling, Solid continuously benchmarks accuracy, detects data changes, and keeps AI systems aligned as the business evolves. The result is faster deployment of trusted AI agents, workflows, and analytics across any data warehouse or AI platform.

To learn more about Solid, visit getsolid.ai

Media Contact: Blair Bader, blairb@getsolid.ai

View original content to download multimedia:https://www.prnewswire.com/news-releases/solid-joins-snowflake-and-industry-leaders-to-advance-open-standards-for-ai-ready-semantic-context-302834217.html

SOURCE Solid Data, Inc

Continue Reading

Technology

Orbis Marks 30 Years of Advancing Eye Health in Vietnam Through Long-Term Partnership and Training

Published

on

By

Flying Eye Hospital project in Da Nang, supported by FedEx, advances locally led eye care and expands access across Central Vietnam and the Central Highlands.

DA NANG, Vietnam, July 24, 2026 /PRNewswire/ — Global eye care nonprofit Orbis International is marking three decades of collaboration with Vietnam’s eye health community, a long-term partnership that has helped build local expertise, strengthen institutions, expand access to care, and support Vietnam’s growing leadership in eye health across the Asia-Pacific region.

The arrival of the Orbis Flying Eye Hospital in Da Nang represents the next chapter in that partnership. At the invitation of Da Nang Eye Hospital and with approval from the People’s Committee of Da Nang City, and support from Da Nang Department of Health, and other relevant departments and local authorities, the project will serve as a platform for hands-on training, innovation, and knowledge exchange. Through clinical training and mentorship across key specialties, the project will help approximately 230 eye care professionals build skills that will benefit communities for years to come, while supporting access to specialized services for nearly 9 million people in Central Vietnam and the Central Highlands.

Cybersight, Orbis’s telemedicine and e-learning platform, is an integral part of every Flying Eye Hospital project—connecting in-person training with continuous learning before and after the aircraft is on site. Through Cybersight, participants can prepare in advance, consult with global experts, access ongoing education, and continue building skills long after the project concludes, extending the impact of the Flying Eye Hospital far beyond the aircraft itself.

“This project is not a standalone intervention; it is the latest chapter in a long-term partnership to advance Vietnam’s eye health system,” said Ngoc Pham, Orbis Vietnam Country Director. “The most important outcome is not what Orbis has done in Vietnam, but what Vietnamese institutions and eye care professionals now lead themselves. Our role at Orbis is increasingly to support, convene, innovate, and accelerate that local leadership so progress continues long after the Flying Eye Hospital departs.”

“Around the world, Orbis is focused on creating lasting change by investing in people, institutions, technology, and local leadership,” said Kathleen Sherwin, President and CEO of Orbis International. “The Flying Eye Hospital is one part of that larger model—bringing intensive, hands-on training together with tools like Cybersight, artificial intelligence (AI), and research so local teams can continue improving care long after a project ends. Vietnam shows what is possible when long-term partnership helps proven solutions take root and scale.”

Building on decades of progress, Vietnam is emerging as a regional leader in eye health, with particular strengths in pediatric care, diabetic retinopathy, retinopathy of prematurity, workforce development, and technology-enabled care. Its growing experience in AI-supported screening, implementation, research, and evidence generation can help inform eye health progress across the Asia-Pacific region.

FedEx, a long-time supporter of Orbis, and a title sponsor for this Flying Eye Hospital project in Vietnam, donated the MD-10 aircraft that serves as the Flying Eye Hospital and continues to provide essential logistical, financial, and operational support. Volunteer pilots from FedEx fly the aircraft to its destinations around the globe. FedEx is represented on the Orbis International Board of Directors.

“At FedEx, we believe that connecting people goes beyond delivering packages – it is about creating opportunities and helping communities thrive,” said Ee-Hui Tan, managing director of FedEx Vietnam and Cambodia. “We are proud to support the return of the Orbis Flying Eye Hospital to Vietnam. Together with Orbis, we are investing in the knowledge and skills of healthcare professionals, helping strengthen Vietnam’s eye care system so more patients can access quality care closer to home.”

Underscoring Orbis’s commitment to high-quality training and patient care, QUAD A, a nonprofit accreditation organization, works with Orbis to ensure that the Flying Eye Hospital meets rigorous standards that prioritize patient safety.

Over the past 30 years, Orbis has supported the training of more than 40,000 eye care professionals and helped expand access to care for millions of people across Vietnam. Today, Vietnamese institutions and professionals are increasingly leading innovation and delivering high-quality care independently, demonstrating the impact of sustained investment in local capacity, technology, and systems change.

Looking ahead, Orbis will continue working with partners across Vietnam to scale proven solutions through workforce development, technology, Cybersight, AI-supported screening, research, and stronger health systems—so that more people can receive quality eye care closer to home.

Orbis in Vietnam

Since beginning work in Vietnam in 1996, Orbis has worked alongside government partners, hospitals, and training institutions to expand access to quality eye care and build sustainable local capacity. Cumulative impact includes:

More than 40,000 eye care professionals trained.More than 5.2 million people reached with eye care services.More than 139,000 sight-saving surgeries supported.17 retinopathy of prematurity centers supported.12 vision centers strengthened to bring care closer to communities.National clinical guidelines supported across priority eye health areas.Cybersight and AI-supported screening deployed to expand training, consultation, and early detection.

This work has supported national clinical guidelines, stronger referral pathways, improved treatment outcomes, and new models of care in areas including retinopathy of prematurity, pediatric eye care, school eye health, cataract, diabetic retinopathy, and glaucoma.

As the partnership continues, Orbis and its partners are focused on scaling proven solutions through workforce development, technology, Cybersight, AI, research, and stronger health systems—so that everyone can access quality eye care closer to home.

About Orbis International

Orbis International works around the world to prevent blindness and restore sight for children and adults in places where eye care is out of reach—so vision problems don’t make it harder to learn, earn a living, or enjoy life. Around 1.1 billion people live with vision loss, but with the right care, 90% of it is completely avoidable. That is why Orbis trains doctors, nurses, and other eye care professionals to provide care in their own communities—and works to make sure people of all ages can access the eye exams, glasses, medicine, and surgeries they need to protect and restore their sight. Orbis began this work more than 40 years ago with the Flying Eye Hospital, a teaching hospital on a plane that brings expert training and care where they’re needed most. Today, we also work with local hospitals and clinics across Africa, Asia, and Latin America to make eye care available to more people, and we use and develop technology—like our award-winning Cybersight e-learning and telehealth platform, artificial intelligence screening, and virtual reality training—to help eye care teams treat patients more effectively. Orbis ranks in the top 3% of U.S. charities, having earned top marks for transparency and accountability from Charity Navigator, GuideStar, and the Better Business Bureau. To learn more, please visit orbis.org

About FedEx Corp.

FedEx Corp. provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $92 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

Media Contacts

Orbis Vietnam
Nhung Nguyen
Communications Officer
Nhung.nguyen@orbis.org
+84 0904562983

Orbis International
Jenna Montgomery
Interim Lead, Global Communications and Marketing
Jenna.montgomery@orbis.org

FedEx
Heather Harshbarger
Communications Advisor
+1 901-690-9869

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/orbis-marks-30-years-of-advancing-eye-health-in-vietnam-through-long-term-partnership-and-training-302834196.html

SOURCE Orbis International

Continue Reading

Technology

In HelloNation, Property Management Expert Karen Nolan Explains What Property Managers Do for Landlords

Published

on

By

The article outlines how property management services support landlords through tenant screening, maintenance, and lease enforcement.

MENIFEE, Calif., July 24, 2026 /PRNewswire/ — What do property managers actually do for landlords in Menifee, CA? HelloNation has published an article that provides clear answers and practical insight into the full scope of property management services.

 

The HelloNation article explains that a property manager handles far more than rent collection. Property management services begin with marketing vacancies and attracting qualified renters in Menifee, CA. The article explains how tenant screening plays a central role in protecting landlords by carefully evaluating applicants and reducing the risk of future issues.

According to the article, tenant screening helps ensure that each tenant meets financial and behavioral expectations. This step supports stable occupancy and reduces turnover, which is critical for any landlord managing property in Menifee, CA. Property Management Experts note that consistent tenant screening also helps maintain the long-term value of rental properties.

Once tenants are placed, the article outlines how a property manager becomes the main point of contact. Property management services include responding to tenant concerns, handling communication, and enforcing leases. By managing these responsibilities, the property manager allows the landlord to avoid direct disputes and maintain professional distance.

The article emphasizes that lease enforcement is essential to protecting both the property and the agreement. Property managers monitor compliance with lease terms and address violations when necessary. This structured approach helps landlords in Menifee, CA, maintain order and consistency across their rental properties.

Maintenance is another major focus of property management services. The article explains that property managers coordinate maintenance and oversee property repairs to keep homes safe and functional. While they may not perform repairs themselves, they manage vendors, schedule work, and respond to urgent issues quickly.

The article notes that timely maintenance and property repairs prevent small issues from becoming larger and more expensive problems. This proactive approach supports tenant satisfaction while preserving the property’s condition. Property Management Experts highlight that consistent maintenance planning is a key benefit for any landlord.

Beyond daily operations, the HelloNation article describes the administrative side of property management services. A property manager prepares leases, maintains records, and ensures compliance with local and state regulations in Menifee, CA. This includes staying informed about legal requirements that affect landlords and rental properties.

Financial oversight is also part of the role. The article explains that property managers handle rent collection, manage deposits, and provide regular financial reporting. These services give landlords a clear understanding of property performance without requiring constant involvement.

For landlords who own multiple properties or live outside Menifee, CA, the article highlights the value of professional property management services. A property manager helps streamline operations, coordinate maintenance, and ensure that lease enforcement and tenant screening are handled consistently. This reduces stress while improving efficiency.

The article concludes that understanding the full role of a property manager helps landlords make informed decisions about their level of involvement. With responsibilities that include tenant screening, maintenance, lease enforcement, and property repairs, property management services offer a comprehensive solution for effectively managing rental properties.

What Do Property Managers Actually Do for Landlords in Menifee features insights from Karen Nolan, Property Management Experts of Menifee, California, in HelloNation.

About HelloNation
HelloNation is a premier media platform that connects readers with trusted professionals and businesses across various industries. Through its innovative “edvertising” approach that blends educational content with storytelling, HelloNation delivers expert-driven, good-news articles that inform, inspire, and empower. Covering topics from home improvement and health to business strategy and lifestyle, HelloNation highlights leaders making a meaningful impact in their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/in-hellonation-property-management-expert-karen-nolan-explains-what-property-managers-do-for-landlords-302753105.html

SOURCE HelloNation

Continue Reading

Trending