Mosaic Capital Corporation Reports Q1 2021 Financial Results

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[{"type":"text","content":"Mosaic Capital Corporation Reports Q1 2021 Financial ResultsCalgary, Alberta--(Newsfile Corp. - May 5, 2021) -  Mosaic Capital Corporation (TSXV: M) (TSXV: M.DB) (\"Mosaic\" or the \"Company\") has released its consolidated financial results for the period ended March 31, 2021. The Company's financial statements and management's discussion and analysis (\"MD&A\") for the period ended March 31, 2021 can be accessed under Mosaic's profile on SEDAR at www.sedar.com and on the Company's website at www.mosaiccapitalcorp.com.SELECTED FINANCIAL HIGHLIGHTSThree months ended March 31,(in $000s, except as noted)20212020% ChangeCONTINUING OPERATIONSRevenue$82,578 $76,036 9%Adjusted EBITDA (1)$7,939 $5,435 46%Net income and comprehensive income$1,657 $3,977 -58%Free Cash Flow (1)$2,373 $538 341%DISCONTINUED OPERATIONSRevenue$- $2,480 NAAdjusted EBITDA (1)$- $242 NANet loss and comprehensive loss$- $(328)NAFree Cash Flow (1)$- $(35)NAAGGREGATERevenue$82,578 $78,516 5%Adjusted EBITDA (1)$7,939 $5,677 40%per share$0.74 $0.53 39%as a % of revenue (%)9.61 7.23 Net income and comprehensive income$1,657 $3,649 -55%Net income (loss) attributable to common equity holders $(1,134)$1,257 -190%Free Cash Flow (1)$2,373 $503 372%per share$0.22 $0.05 368%Preferred securities distributions declared$1,479 $1,496 -1%Common share dividends declared$- $1,116 -100%per share$- $0.105 -100%TTM Preferred Distribution Payout Ratio (%) (1)33.96 41.53 Weighted avg. common shares outstanding10,705,66510,621,4201% Note:Adjusted EBITDA, Free Cash Flow and Trailing twelve-month (\"TTM\") Preferred Distribution Payout Ratio are not recognized measures under IFRS. Refer to \"Non-GAAP Measures\".FIRST QUARTER HIGHLIGHTSFor the three month period ended March 31, 2021, Mosaic:generated $82.6 million in revenue from continuing operations which was a 9% improvement over the same period in 2020 demonstrating a return to revenue growth since the onset of the COVID-19 pandemic (\"Pandemic\"); generated Adjusted EBITDA from continuing operations of $7.9 million which exceeded the same period last year by 46% due to solid performances at certain portfolio companies and the receipt of Canada Emergency Wage Subsidy (\"CEWS\") funds; delivered a 14% improvement in Adjusted EBITDA over the same period last year when measured before the receipt of CEWS funding, illustrating...

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