DLCG Announces Solid First Quarter Results with 46% Year-Over-Year Growth in Funded Mortgage Volumes to $16.4 Billion

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

[{"type":"text","content":"DLCG Announces Solid First Quarter Results with 46% Year-Over-Year Growth in Funded Mortgage Volumes to $16.4 BillionVancouver, British Columbia--(Newsfile Corp. - May 7, 2025) - Dominion Lending Centres Inc. (TSX: DLCG) (\"DLCG\" or the \"Corporation\") today announced financial results for the three months ended March 31, 2025. DLCG is one of Canada's leading franchisors of mortgage professionals, with a national network of over 8,500 agents. The Corporation also owns Newton Connectivity Systems Inc., a financial technology company that provides an integrated end-to-end operating platform, called Velocity, designed to automate and streamline the entire mortgage application, approval, underwriting and funding process. Financial Highlights for Q1 2025:Funded mortgage volumes grew 46% to $16.4 billion over Q1 2024;Revenue was $18.7 million for the first quarter of 2025, compared to $13.6 million for the same period last year – an increase of 37%; Adjusted EBITDA of $8.0 million rose 61% compared to $5.0 million in Q1 2024;Adjusted net income for the quarter reached $0.06 per share or $4.9 million, compared to $0.03 per share or $1.4 million in Q1 2024, respectively;Adoption of Velocity across the DLCG broker network increased to 79% from 68% in Q1 2024; andA quarterly dividend of $0.03 per share was paid on March 14, 2025. \"Despite an uncertain economic environment and slower than expected activity levels in the Canadian housing market to start the year, I am pleased to report that we achieved strong growth in the first quarter of 2025, with revenue increasing 37% and EBITDA rising 61%,\" said Gary Mauris, Chairman and CEO of DLCG. \"Throughout the quarter we continued to benefit from our long-term focus on growing our broker partner base, supporting our strong network of franchises and mortgage professionals, and the continued adoption of our leading-edge technology connectivity platform, Velocity,\" added Mr. Mauris. \"The strong top-line growth was augmented by the relatively fixed cost nature of many of our expenses resulting in Adjusted EBITDA margins expanding to 43% from 37% last year. The successful adoption of Velocity across our broker network, which increased from 68% in Q1 2024 to 79% in Q1 2025, also contributed to our strong margin performance.\"\"While we continue to monitor the impact that the current...

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