VIQ Solutions Reports Adjusted EBITDA up 45% for the Three Months Ended March 31, 2026

About this update from Viq Solutions Inc.

VIQ Solutions Reports Adjusted EBITDA up 45% for the Three Months Ended March 31, 2026Revenue of $9.8 million for the three months ended March 31, 2026 primarily driven by higher hardware sales and the strengthening of foreign currencies relative to the prior quarter.Adjusted EBITDA of $1.3 million for the three months ended March 31, 2026, up 45% versus the comparable period in 2025 (see "Non-IFRS Measures").The Company posted its eighth straight quarter of positive Adjusted EBITDA underscoring consistent progress.Richmond Hill, Ontario--(Newsfile Corp. - May 26, 2026) - VIQ Solutions Inc. (TSXV: VQS) ("VIQ" or "the Company"), a global leader in AI-powered digital documentation, today announced financial results for the three months ended March 31, 2026. The Company reported continued strong margins, with its eighth consecutive quarter of positive Adjusted EBITDA.Three Months Ended March 31, 2026 Financial Highlights Revenue: $9.8 million, up 2% from the same period in the prior year, primarily driven by higher hardware sales and the strengthening of foreign currencies relative to the prior quarter.Gross Margin: 50.8%, down from 51.9% for the same period in the prior year, primarily due to the reversal of the onerous loss on a vendor contract in Q1 2025 resulting in a higher gross margin in the prior period.Adjusted EBITDA: $1.3 million, an increase of 45% from the same period in the prior year, marking the eighth consecutive quarter of positive Adjusted EBITDA.Strategic and Operational HighlightsIn March 2026, the Company placed its Australian division, consisting of VIQ Australia Pty Ltd, VIQ Solutions Pty Ltd, VIQ Solutions Australia Pty Ltd, VIQ Pty Ltd and VIQ Australia Services Pty Ltd ("VIQ Australia"), into voluntary administration pursuant to Part 5.3A of the Corporations Act 2001 (Australia).The administrator of VIQ Australia commenced a sale process of the business in April 2026 and has received non-binding offers from interested parties. The Company expects a sale of VIQ Australia to be completed in Q2 2026.Placing VIQ Australia into voluntary administration was taken in order to focus VIQ's management and capital resources on the Company's existing operations in North America and the United Kingdom, which remain the Company's highest performing business units.For the three months ended March 31, 2026, revenue and adjusted EBITDA, exclud...

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