DLC Releases Annual 2024 Results; Achieves Annual Funded Volumes of $67.4 Billion (19% Increase over Prior Year)

About this update from Dominion Lending Centres, Inc. (canada) Class A

[{"type":"text","content":"DLC Releases Annual 2024 Results; Achieves Annual Funded Volumes of $67.4 Billion (19% Increase over Prior Year)\n\n\n\n VANCOUVER, British Columbia, March 27, 2025 (GLOBE NEWSWIRE) -- Dominion Lending Centres Inc. (TSX:DLCG) (“DLCG” or the “Corporation”) is pleased to report its financial results for the three months (“Q4-2024”) and year ended December 31, 2024 (“annual”). For complete information, readers should refer to the annual audited consolidated financial statements and management discussion and analysis which are dated March 27, 2025 and are available on SEDAR+ at www.sedarplus.ca and on the Corporation’s website at\n \n www.dlcg.ca\n \n . All amounts are presented in Canadian dollars unless otherwise stated.\n \n\n DLCG includes the Corporation and its three main subsidiaries: MCC Mortgage Centres Canada Inc. (“MCC”), MA Mortgage Architects Inc. (“MA”), and Newton Connectivity Systems Inc. (“Newton”). The Corporation’s acquisition of all of the series I, class “B” preferred shares (the “Preferred Shares”) completed on December 17, 2024 is referred to herein as the “Preferred Share Acquisition”.\n \n\n Gary Mauris, Executive Chairman and CEO, commented, “We are pleased to report annual funded volume growth of 19% over the prior year which helped drive a 23% increase in revenues and a 47% increase in adjusted EBITDA. We are proud of our strong network of franchisees and mortgage professionals and would like to thank them for their continued hard work in 2024. The adoption of our technology connectivity platform ‘Velocity’ was a significant contributor to our success, as was our “Gold Rush” campaign which made it easier for brokers to stay connected with their clients. Looking ahead, we believe we are well-positioned to take advantage of favourable market conditions should interest rates further decline and as a significant number of mortgage renewals are on the horizon.”\n \n\n\n Q4-2024 and Annual Summary:\n \n\n\n\n Q4-2024 funded volumes of $19.6 billion and annual funded volume of $67.4, representing a 38% and 19% increase as compared to 2023, respectively;\n \n\n Q4-2024 revenue of $22.3 million and annual revenue of $76.8...

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