Calian Group Ltd. · TSX:CGY
Calian — Q4 2025 Earnings Presentation
21 slides from Calian's earnings presentation, Sep 30, 2025
Slide 1: Conference Call Presentation Q4-25
Conference Call Presentation Q4-25 For the quarter ended September 30, 2025
Slide 2: Caution Regarding Forward Looking Statements
Caution Regarding Forward Looking Statements Certain information included in this document is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally ac
Slide 3: Q4-25 Highlights
Q4-25 Highlights Finished the year on a high note • Q4 results: highest revenue quarter and second highest adj. EBITDA in the Company’s history and a return to positive organic growth • Defence solutions: continued growth momentum • Contract signings: $122M in Q4, for a total >$1B for the year • Rec
Slide 4: FY25 Defence Achievements
FY25 Defence Achievements Defence solutions = 50% of FY25 consolidated revenues Annual Defence Revenues (in millions of $) 385 FY25 Defence Achievements 330 271 1. Strategic acquisitions 228 236 2. Operational realignment 185 3. New contracts 4. Partnerships 5. New talent 2020 2021 2022 2023 2024 20
Slide 5: Federal Defence Budget is Positive for Calian
Federal Defence Budget is Positive for Calian Visibility on timing of contract awards remains limited $20B Capabilities 2% GDP By 2025 $5B Infrastructure & Equipment 5% GDP By 2035 $5B Industrial Support © 2024 Calian Group Ltd. 5
Slide 6: ITCS - Took Material Actions in Q4 to Restore Performance
ITCS - Took Material Actions in Q4 to Restore Performance We expect meaningful benefits in FY26 ITCS Revenues 1. Streamlined operations (in millions of $) 214 2. Refocused on core markets and 189 189 173 products 3. Renewed our partner ecosystem 82 4. Realigned the business to better reflect our maj
Slide 7: FY25 Q4 KPIs - Revenue & Adj. EBITDA
FY25 Q4 KPIs - Revenue & Adj. EBITDA Return to robust organic growth of +6% Adj. EBITDA1,2 & Margin1,2 Revenues (in millions of $, except margin) (in millions of $) 30 203 24.3 181 23.8 22.0% 25 12% 20 17.0% Excluding ITCS, revenue and adj. EBITDA would have 13.1% increased 18% and 32% 15 11.9% 12.0
Slide 8: FY25 KPIs - Revenue & Adj. EBITDA
FY25 KPIs - Revenue & Adj. EBITDA Results were impacted by the underperformance of ITCS Adj. EBITDA1,2 & Margin1,2 Revenues (in millions of $, except margin) (in millions of $) 774 100 92 747 90 659 78 22.0% 69 70 80 582 518 70 56 17.0% 60 Maintained double-digit adj. EBITDA margin 50 11.9% 12.3% 12
Slide 9: FY25 KPIs – Operating FCF & Capital Deployment
FY25 KPIs – Operating FCF & Capital Deployment Repurchased 5% of shares outstanding Operating FCF1,2 & Conversion1,2 FY25 Capital Deployment (in millions of $, except %) (in millions of $) 80 180% 72 70 160% 11 55 140% 54 60 52 120% 44 Optimistic to close several 50 100% 39 $89M strategic transactio
Slide 10: FY25 KPIs – Leverage and Cash Availability
FY25 KPIs – Leverage and Cash Availability Renewed and expanded our credit facility to $350M Net Debt1,2/Adj. EBITDA1,2 Cash Availability (ratio) (in millions of $) <2.5x 265 217 200 198 172 Solid 1.1x 1.1x 0.6x 0.7x balance sheet 0.4x Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Unus
Slide 11: Looking Forward
Looking Forward Deliver long-term shareholder value 1. Targeting key vertical markets with strong tailwinds 2. Driving lean and efficient operations 3. Investing with discipline and purpose © 2024 Calian Group Ltd. 11
Slide 12: FY26 Guidance
FY26 Guidance Refrain from issuing formal financial guidance • Long-term target: revenue growth of 10-15% per year with a combination of organic growth and acquisitions • FY26 guidance: grow revenue and adjusted EBITDA double-digits with existing business • FY26 Capital deployment: • Capex ~$10M • D
Slide 13: Question Period
Question Period Kevin Ford Patrick Houston Jennifer CEO CFO McCaughey Director, Investor Relations © 2024 Calian Group Ltd. | 13
Slide 14: 10 Years of Growth and Diversification
10 Years of Growth and Diversification A market leader in mission-critical solutions Revenue Growth Revenue Diversification (in millions of $) $774 2015 2025 Canadian focused 44% International Government customers 48% Commercial $242 Service business 25% Products 2015 2016 2017 2018 2019 2020 2021 2
Slide 15: Thank You
Thank You • Employees: thank you for your commitment and creativity • Customers & partners: thank you for your trust and collaboration • Shareholders & analysts: thank you for your support • Board of Directors: for your guidance and support © 2024 Calian Group Ltd. 15
Slide 16: Appendix A – Reconciliation of Non-GAAP measures
Appendix A – Reconciliation of Non-GAAP measures © 2024 Calian Group Ltd. | 16
Slide 17: Reconciliation of Non-GAAP Measures – Adj. EBITDA
Reconciliation of Non-GAAP Measures – Adj. EBITDA Three months ended Twelve months ended (in thousands of $) September 30, 2025 September 30, 20241 September 30, 2025 September 30, 20241 Net profit $20,648 ($568) $20,557 $11,180 Share based compensation 1,117 684 4,511 4,372 Restructuring expense 1,
Slide 18: Reconciliation of Non-GAAP Measures – Adj. Net Profit
Reconciliation of Non-GAAP Measures – Adj. Net Profit Three months ended Twelve months ended (in thousands of $, except # shares and per share amounts) September 30, 2025 September 30, 20241 September 30, 2025 September 30, 20241 Net profit (loss) $20,648 ($568) $20,557 $11,180 Share based compensat
Slide 19: Reconciliation of Non-GAAP Measures – Operating FCF
Reconciliation of Non-GAAP Measures – Operating FCF Three months ended Twelve months ended (in thousands of $, except per share amounts and %) September 30, 2025 September 30, 20241 September 30, 2025 September 30, 20241 Cash flows generated from operating activities (free cash flow) $6,408 $19,417
Slide 20: Reconciliation of Non-GAAP Measures – Net Debt/Adj. EBITDA
Reconciliation of Non-GAAP Measures – Net Debt/Adj. EBITDA (in thousands of $, except ratio) September 30, 2025 September 30, 20241 Cash $46,101 $51,788 Debt facility 130,750 89,750 Net debt (net cash) 84,649 37,962 Trailing twelve month adjusted EBITDA 78,420 92,156 Net debt to adjusted EBITDA 1.1x
Slide 21: Thank you
Thank you Jennifer McCaughey, CFA, F.CIRI Director, Investor Relations ir@calian.com