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

Technology

How Can Humanity Become Friends with the Ocean?

Published

on

By

BEIJING, Nov. 6, 2026 /PRNewswire/ — A news report from China.org.cn on China’s efforts in marine ecological governance:

“Look, white dolphins!” Such excited cries can often be heard along the coast of Xiamen, a city in east China’s Fujian Province.

The Indo-Pacific humpback dolphin, commonly known as the Chinese white dolphin, is considered Class I nationally protected wildlife in China. As apex predators in coastal waters, these dolphins are regarded as a barometer of marine ecosystem health. Back in the 1990s, however, rising shipping activity, coastal reclamation and near‑shore development severely encroached on their habitats.

To minimize disturbances to dolphin habitats, Xiamen established China’s first provincial‑level nature reserve dedicated to Chinese white dolphins in 1997. Since then, the city has continuously refined its coastal governance approaches, restricted activities with significant environmental impacts, and promoted cross‑regional collaboration in conservation. Many other ocean‑friendly initiatives have also been rolled out. These include restoring mangrove wetland ecosystems; implementing an “offshore sanitation” mechanism and organizing public beach‑clean‑up campaigns to regularly remove floating marine debris; and releasing nearly 8 billion aquatic animals across 18 species through stock enhancement programs. As a result, populations of several fish species, such as the wild large yellow croaker and yellowfin seabream, have returned to Xiamen Bay.

Recently, “AI bodyguards” have joined the conservation effort. High‑definition cameras, drones and intelligent recognition systems track dolphin activity round‑the‑clock. Automatic alerts are issued whenever vessels approach the dolphins in violation of regulations. Researchers have also created individual digital profiles for each dolphin, identifying them by their dorsal‑fin shapes and body spot patterns, while recording their movement trajectories.

Xiamen is a microcosm of China’s efforts in marine ecological governance — forging ahead boldly yet never walking alone.

Over the decades, China has taken a series of concrete steps: from founding its first marine nature reserve in 1963, to proposing the goal of “building a strong maritime nation,” and publishing the white paper “Marine Eco‑Environmental Protection in China”; from drawing marine ecological protection red lines, to actively engaging with the UN Decade of Ocean Science for Sustainable Development and signing major international agreements on marine conservation, including the UN Agreement on Biodiversity Beyond National Jurisdiction (UN BBNJ).

For decades, China has been answering a vital question through concrete action: how can humanity coexist harmoniously with the ocean and create mutual benefits?

The answer is becoming increasingly clearer. Today, China’s extensive coastline features clean waters and pristine beaches, with fish swimming freely and seabirds soaring overhead. Not long ago, China’s Blue Bay Restoration Initiative was named a UN World Restoration Flagship. Now, the 21st Xiamen World Ocean Week is officially inaugurated, bringing together experts, scholars and representatives from various countries and international organizations to discuss marine conservation and harmonious coexistence between humanity and the ocean. In marine ecological protection and governance, China is not only a proactive participant and practitioner, but also a contributor to sharing experience and shaping future approaches.

Along Xiamen’s shoreline, the sea breeze blows gently as children run after the waves, echoing the ongoing story of humanity and the ocean.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm

View original content to download multimedia:https://www.prnewswire.com/news-releases/how-can-humanity-become-friends-with-the-ocean-302932059.html

SOURCE China.org.cn

Continue Reading

Technology

OneStream Surpasses 600 EMEA Customers and Triples AI Adoption

Published

on

By

OneStream triples AI customer base and deepens investment across EMEA as Founder and CEO Tom Shea presents governed Finance AI framework at Web Summit

LISBON, Portugal, Nov. 6, 2026 /PRNewswire/ — OneStream, the AI operating system for modern Finance that unifies core financial and operational processes, embedding the governance, context, and control required to make AI work for Finance, today announced it has surpassed 600 customers in EMEA and more than tripled its Finance AI customers in the region since the end of 2025. The news comes as Founder and CEO Tom Shea takes the stage at Europe’s biggest tech event, Web Summit 2026, to detail a framework for auditable, contextualized AI for Finance.

“CFOs across Europe are realizing the real advantage of AI isn’t the smartest model – it’s AI operating within a strict framework of financial governance,” said Tom Shea, Founder and CEO at OneStream. “AI is the reasoning engine, but enterprise software must be the trust engine. Our acceleration in EMEA proves leaders want a financial control tower that delivers answers they can act on without operational risk. We will continue investing heavily in the local teams and partners helping them build this secure foundation.”

Accelerating EMEA Momentum
Over the past 12 months, OneStream helped more than 100 new EMEA customers modernize their tech stack and passed 600 customers in the region, with customers in more than 35 markets. Customers span industries including manufacturing, retail, banking and financial services, pharmaceuticals, and oil and gas. Notable EMEA customers include Grupo ACS, Delivery Hero, and Swatch.

Customers across the region are using OneStream to modernize core Finance processes, replacing fragmented legacy systems with a unified platform for financial close, consolidation, reporting, and planning. This unified foundation helps teams keep pace with complex regulatory requirements across EMEA, while providing the governed data necessary to leverage AI for accelerated insights and real business value.

OneStream’s Finance AI adoption is growing alongside its broader platform growth. The number of EMEA customers using OneStream’s Finance AI has more than tripled since the end of 2025.

To support this sustained regional acceleration, OneStream continues to scale its operations and partner ecosystem, building on its established regional presence across London, Manchester, Paris, Amsterdam, and Madrid.

“Finance leaders across EMEA are modernizing their core Finance platforms to keep pace with complex regulation and move faster,” said Matt Rodgers, EVP, EMEA at OneStream. “That modernization is what enables them to take AI from pilots to enterprise-wide deployment, because it gives them a data foundation they can actually trust. Our momentum in the region underscores a fundamental shift toward governed, unified enterprise platforms that deliver real business value.”

Building Trust in AI Agents

Shea will appear in a featured fireside chat titled “Why AI and SaaS Need Each Other” on Thursday, Nov. 12, at 1:25 PM on Stage 7. Moderated by Hope King, Founder of Macro Talk, and featuring Luminance CEO Eleanor Lightbody, the session will examine the evolving role of enterprise software as AI agents take on increasingly complex workflows. Shea will detail how governed data, strict access controls, and transparent audit trails determine how safely organizations can let autonomous agents act on their own.

To learn more about Shea’s session at Web Summit, click here.

About OneStream

OneStream is the AI operating system for modern Finance that unifies core financial close, planning, and operational processes and data, in one intelligent platform, all embedded with the governance, context, and control required to make AI work for Finance.

With over 1,900 customers, including 16% of the Fortune 500, a strong ecosystem of go-to-market, implementation, and development partners and 1,600 employees, we empower the Office of the CFO to become a critical driver of business strategy and execution. To learn more, visit onestream.com.

Media Contact

Jaclyn Proctor
Media Relations Contact
OneStream
media@onestreamsoftware.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/onestream-surpasses-600-emea-customers-and-triples-ai-adoption-302931403.html

SOURCE OneStream, Inc.

Continue Reading

Technology

Insilico Open-Sources 24/7 Personal Longevity Superintelligence to Turn Quantified-Self Data into Predictive Health States and Aging Research

Published

on

By

CAMBRIDGE, Mass., Nov. 6, 2026 /PRNewswire/ — Insilico Medicine, a clinical-stage generative AI drug discovery company, today announced the open-source release of Longevity Grok, the Personal Longevity Superintelligence (PLSI) and launched the website longevitygrok.si, in collaboration with leading geroscience researcher David Sinclair from Harvard Medical School. Developed for the Grok Bot platform, PLSI is an open-source, multi-agent AI system designed to unify fragmented personal health records, track biological analysis, formulate personalized lifestyle interventions, predict and score post-intervention biomarker changes, as well as drive communal AI-powered geroscience research.

For decades, health management and longevity medicine have been hampered by severe data fragmentation. Laboratory blood panels, continuous glucose monitoring, wearable streams, epigenetic assays, and clinical records sit across disconnected portals, leaving patients unable to follow their biological trajectory and clinicians working from incomplete histories. Modern healthcare turns to LLMs to close that gap, however, without persistent, auditable memory or follow-up on if advice actually improves outcomes, they rarely outperform traditional methods.

Personal Longevity Superintelligence (PLSI) addresses this gap with a continuous, 24/7 automated research loop. It converts fragmented medical data into a standardized longitudinal health trajectory and generates accountable, predictive guidance through a multi-agent architecture. The system continuously forecasts health risks, proposes interventions, and scores outcomes through closed-loop feedback.

Running within Grok Bot’s secure environment, it coordinates a team of up to 30 specialized AI agents, standardizes heterogeneous records with clinical coding systems such as LOINC, RxNorm, and UCUM, and uses always-on routines to monitor longevity science updates, organize incoming data, and keep the personal health state current without constant re-prompting. The same system is framed for three complementary roles:

As a personal longevity assistant, PLSI turns scattered labs, wearables, epigenetic assays, and clinical files into a unified, audit-ready health trajectory on the user’s device. It proposes lifestyle, nutritional, or longevity interventions with an auditable “prediction card” (target biomarker, confidence interval, time horizon, and evidence grade), evaluates each plan through an agent-driven adversarial review. When follow-up results arrive, PLSI scores whether outcomes fall within the predicted interval, confirms direction, and tracks calibration over time, turning each choice into a checkable N-of-1 experiment. Users can also voluntarily allocate unused daily token quota to Idle Research in the background to find new ways to increase their lifespan.

As a physician’s assistant, PLSI supplies structured longitudinal context instead of fragmented PDFs and portal exports. Standardized representations and a coherent biological trajectory help clinicians better organize their workflow Prediction cards and evidence grades aid in decision-making, while closed-loop scoring after follow-up supports auditable discussion of response and adherence. PLSI also features safeguards that overrule AI discretion to keep  formal diagnosis and prescriptions solely with licensed physicians.

As a partner for aging research, PLSI extends individual tracking into communal discovery. Users may opt in to contribute consented, deidentified trajectories to Longevity Mothership via an anonymous relay with an irrevocable kill switch to purge records on demand. Idle Research is a modern take on volunteer computing platforms , such as Folding@home, which let autonomous researcher agents scan literature, formulate hypotheses, and design analyses based on  public databases to accelerate target discovery and other anti-aging discovery activities.

Across all three roles, privacy is the default: a zero-trust architecture keeps raw medical files and identifiable clinical records in the user’s environment , unless the user explicitly opts into communal research. Both the PLSI Client and the Longevity Mothership backends are fully open-source and freely available on GitHub for review and contribution. Both setups feature data controller agents, which scrub the data at egress and intake points to prevent entry re-identification.

PLSI is available to all Grok Bot users and can be installed by instructing your bot with the following one-liner:

Set yourself up using https://github.com/Insilico-org/plsi 

The agentic skills and code are provided as an open-source package which can be inspected and modified by all, according to their needs.

“Longevity Grok turns Grok Bot into an open platform where individuals, physicians, and scientists can use AI to better understand their health, predict the effects of interventions, and find ways to live longer, healthier lives,” said David A. Sinclair, Ph.D., Professor of Genetics and Co-Director of the Paul F. Glenn Center for Biology of Aging Research at Harvard Medical School. “What makes this exciting is that people can contribute to scientific discovery while improving their own health, helping us understand why we age and how we might slow or even reverse it.”

“Currently, there are zero tools that are clinically proven to give a healthy person an additional year of life if they are already dieting, exercising, sleeping, and getting regular diagnostics,” said Alex Zhavoronkov, Ph.D., founder and CEO of Insilico Medicine. “Longevity Grok is a distributed system designed around a personal research space where you can work with your own data to optimize your health, longevity, and peak-span trajectories. As this system diffuses into the community, we expect to achieve longevity superintelligence, enabling a vast network of individuals to conduct autonomous research on their own biology while utilizing shared computation resources to pursue advanced longevity experiments. Aging is the only inescapable constraint on human freedom, and pushing this frontier is about giving people the optionality to remain young, healthy, and productive for as long as possible.”

Longevity has been central to Insilico’s mission since its inception. The company’s path drew industry attention in 2015 at the NVIDIA GTC conference, where Alex Zhavoronkov, Ph.D., founder and CEO of Insilico, challenged the tech world with a provocative question: “Can NVIDIA cure aging?” In 2014, Insilico established the annual Aging Research and Drug Discovery (ARDD) meeting, now widely regarded as a leading academic gathering for geroscience and biogerontology. The 13th ARDD, held at Harvard University in 2026, brought together leading academic investigators, pharmaceutical executives, and clinical pioneers to translate longevity discoveries into actionable medicine.

In 2026, Insilico accelerated the translation of AI-driven longevity research from experimental theory to transformative biological interventions. In April, the company announced the industry’s first longevity board of high-profile scientists, chaired by Andrew Adams, Ph.D., Group Vice President of Molecular Discovery at Eli Lilly and Company, to advance AI-driven aging research for drug discovery. In September, Insilico open-sourced an AI longevity toolkit, including LongevityBench, Longevity-LLMs, and LongevityClaw, with collaborators in a Cell cover study, accelerating research and therapeutic development. That publication follows Insilico’s contemporaneous Nature Biotechnology paper, in which Rentosertib, the company’s most advanced AI-driven pipeline candidate, showed biological age reversal according to Phase IIa clinical data across six independent proteomic aging clocks.

Since 2014, Insilico has published more than 50 research papers on aging and longevity, aging biomarkers, therapeutic targets, and therapeutics implicated in aging, longevity, and disease.

About Insilico Medicine

Insilico Medicine is a pioneering global biotechnology company dedicated to integrating artificial intelligence and automation technologies to accelerate drug discovery, drive innovation in the life sciences, and extend healthy longevity to people on the planet. The company was listed on the Main Board of the Hong Kong Stock Exchange on December 30, 2025, under the stock code 03696.HK.

By integrating AI and automation technologies and deep in-house drug discovery capabilities, Insilico is delivering innovative drug solutions for unmet needs including fibrosis, oncology, immunology, pain, and obesity and metabolic disorders. Additionally, Insilico extends the reach of Pharma. AI across diverse industries, such as advanced materials, agriculture, nutritional products and veterinary medicine.

For more information, please visit www.insilico.com

View original content:https://www.prnewswire.com/news-releases/insilico-open-sources-247-personal-longevity-superintelligence-to-turn-quantified-self-data-into-predictive-health-states-and-aging-research-302931941.html

SOURCE Insilico Medicine

Continue Reading

Trending