VIQ Solutions Signs USD$1.2M Contract with Australia’s Queensland Courts to Create Courtroom of Future and Expand Global Leadership
PHOENIX, ARIZONA, January 21, 2020 – VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX Venture Exchange: VQS and OTC Markets: VQSLF) a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announced the award of a USD$1.2M technology contract with the Queensland Department of Justice and Attorney-General (DJAG) to provide digital capture and management of official court records.
Upon completion of an extensive review of the current services for recording and transcription of court and tribunal proceedings, DJAG decided to explore innovative ideas and new developments in technology for Queensland’s recording and transcription system. The need to create a new service delivery model to ensure the quality and timeliness of court transcripts in Queensland while providing the best overall value for money was identified.
VIQ Solutions Announces Proposed Amendments to Convertible Notes
PHOENIX, Ariz.–(BUSINESS WIRE)–VIQ Solutions Inc. (the “VIQ” or “Company”) (TSX Venture Exchange: VQS and OTC Markets: VQSLF) announces that it intends to amend (the “Amendment”) the unsecured convertible notes (each, a “Note”) in the aggregate principal amount of approximately USD$6,792,934 issued to certain subscribers as previously announced in its News Releases of November 9, 2018, December 24, 2018 and May 8, 2019. The Debentures mature five (5) years from the date of issuance (the “Maturity Date”) and bear interest (the “Interest”) at a rate of 10% per annum. The Notes are also convertible into Shares at a conversion price (the “Conversion Price”) of CAD$2.70, CAD$2.72 and CAD$2.82 per Share (adjusted to reflect the Company’s recent 1 for 20 share consolidation), respectively, at any time until the Maturity Date.
OTC Markets Group Welcomes VIQ Solutions Inc. to OTCQX
NEW YORK – December 5, 2019 – OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced VIQ Solutions Inc. (TSX-V: VQS; OTCQX: VQSLF), a global technology platform for ultra-secure digital evidence capture and content management, has qualified to trade on the OTCQX® Best Market. VIQ Solutions Inc. upgraded to OTCQX from the OTCQB® Venture Market.
Following the reverse split, and for 20 trading days, VIQ Solutions Inc. will trade under the symbol on OTCQX under the symbol “VQSLD”. Beginning January 2, 2020, VIQ Solutions will begin trading under the symbol “VQSLF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
“Congratulations to VIQ Solutions on graduating to the OTCQX Best Market from the OTCQB Venture Market,” said Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group. “The company’s graduation to the OTCQX Best Market marks an important milestone, as OTCQX provides companies with a transparent, cost-effective public market to enhance visibility. We look forward to continuing to support VIQ Solutions and the company’s shareholders.”
VIQ to present live at VirtualInvestorConferences.com on December 5th at 12:00 noon ET
Sebastien Paré, President & CEO will present live at the VirtualInvestorConferences.com on December 5th at 12:00 noon ET. Investors and analysts are invited to ask the company questions in real-time at this live, interactive online event.
Shareholders Approve VIQ Solutions Inc. 1-for-20 Reverse Split
VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX Venture Exchange: VQS and OTC Markets: VQSLF) a global provider of secure, AI-driven, digital voice and video capture technology and services for law enforcement, legal, insurance, courts, and transcription service provider markets, today announced the Company’s share consolidation was approved by 99.953% of the Shareholders who voted.
The share consolidation, followed by a two-trading day period, enables uplisting of VIQ’s DTC eligible foreign depository for Common Shares in the United States from the OTCQB to the QTCQX, the Best Market on OTC Markets.
“We deeply appreciate our shareholders’ confidence in the Board’s capital management decision as evidenced by the overwhelming majority of shareholders voting to approve the proposed share consolidation, said Sebastien Pare, VIQ President and Chief Executive Officer.
VIQ Solutions Reports Q3 Earnings
In the current ultra-secure digital evidence capture and transcription markets, VIQ delivered strong revenue, margins, EBITDA, and income for the last quarter. We are pleased with the early returns from the deployment of our new AI-powered transcription workflow platform, the increase in sales pipeline from our new sales and marketing organization, and the collaboration with our clients and partners on advancements in technology innovation, all which set the foundation for long-term profitable growth for the company. For the third consecutive quarter, VIQ has posted consistent, steady growth, with all financial indicators trending upward.
VIQ Solutions to Report 3Q 2019 Earnings Results November 6th With Call on November 7th, 2019
VIQ will release its financial results for the quarter ended September 30, 2019 after U.S. markets close on Wednesday, November 6, 2019. VIQ Solutions will also host an earnings conference call at 4:00 PM ET on the following day, November 7th.
Investors may listen to the call via telephone by dialing 1-844-678-4797 (U.S. toll-free) or 1-270-855-8581 (international) to be connected to the call by an operator using conference ID number 8596297. Participants should dial in at least 10 minutes prior to the start of the call.
VIQ Announces Proposed Share Consolidation
With company fundamentals improving every quarter, VIQ’s equity profile and shareholder base has evolved considerably, particularly after the first half of this fiscal year. Today, the company’s clients, revenue, operations, human expertise and technology infrastructure are predominantly in the United States, which has helped drive growth in the percentage of shareholders being based in the U.S. and abroad. As the company continues to execute on its core growth strategy of driving operational excellence and financial performance, new investors are entering the stock. The proposed stock consolidation is an important step toward contributing to the overall strategy to drive long term shareholder value as the structure of the company evolves and the company’s equity profile, and shareholder make-up, continues to improve.
VIQ’s Announces Market Leading End-to-End Cloud-Based Workflow Solution for Insurance Industry
Using proprietary technologies, like NetScribe, powered by aiAssist, VIQ streamlines documentation processing, decreases labor costs and turnaround times, while boosting accuracy and margins for VIQ‘s global client base.
The NetScribe platform enables VIQ’s insurance clients – who command over 20 percent of the market share in the industry – to implement a revolutionary end-to-end workflow transition to a highly secured cloud computing infrastructure. VIQ is agnostic to outside technologies, enabling clients to utilize whichever audio, visual and cloud technologies that best meet their business and/or operational needs. With over 6000 insurance agencies in the U.S. alone, the transcription market for the industry is estimated to be approximately USD$2 billion. This includes 26 million recordable audio events, resulting in over 646 million transcribed pages per year.
Net Transcripts, a VIQ Solutions Company, Partners with Karpel Solutions
VIQ announces its partnership with Karpel Solutions, a leading criminal case management solutions provider. There are more than 200 million recordings with over three billion pages of transcripts in the U.S. law enforcement industry alone. Net Transcripts, a division of VIQ’s law enforcement branch, will integrate into Karpel’s case management system and will create a seamless workflow allowing customers to securely request and retrieve legal documentation. This partnership, a first of its kind, will transform the Criminal Case Management industry.
VIQ Announces Warrant Amendments
Today, VIQ announced that the Company is proposing to amend the exercise price of (i) 28,482,490 warrants (the “December 2018 Warrants”) exercisable for common shares of the Company (“Common Shares”) issued in conjunction with a private placement of notes convertible into Common Shares that was completed in two tranches on November 28, 2018 and December 20, 2018; and (ii) 21,123,567 warrants (the “May 2019 Warrants” and together with the December 2018 Warrants, the “Warrants”) exercisable for Common Shares issued in conjunction with a private placement of notes convertible into Common Shares that was completed on May 7, 2019.
VIQ Solutions CEO presents at New York’s Fall Investor Summit September 16th
VIQ Solutions Reports Q2 Record Revenue and EBITDA
Today, VIQ reported financial results for the 2019 second quarter. “VIQ’s results are beginning to prove our strategy,” said Sebastien Paré, VIQ President and CEO. “We believe that as we integrate acquisitions and transition our client base toward AI Solutions, the result will be significant value creation for shareholders.” VIQ periodically provides information for investors on its investors relations website, viqsolutions.com/investors.
VIQ Solutions Appoints Tony Incardona, SVP of Global Sales and Business Development, to Build on Expansive Q2 Growth
Tony Incardona joins VIQ’s leadership team as the new SVP of Global Sales and Business Development. Prior to this appointment, Mr. Incardona served as Vice President, Mid-Market U.S. & Field Sales Engineering at Nuance Healthcare, a global healthcare industry leader providing clinical documentation technologies and services to over 1,200 U.S. hospitals. “Mr. Incardona’s track record and experience… will only help to accelerate growth within our key verticals,” said Susan Sumner, VIQ’s COO. Mr. Incardona joins VIQ on August 15, working remotely from Sarasota, FL. He will report to VIQ’s COO, Susan Sumner.
VIQ Solutions Expands Global Leadership in Law Enforcement Transcription, Signs Contract with Police Forces in Australia and United States
On July 1, Spark & Cannon, a VIQ Solutions Company, began providing transcription services for the Western Australia Police Force, Australia’s largest, single police jurisdiction. Generating more than 4,563 transcript requests yearly, Spark & Cannon is now the largest provider of law enforcement transcription services in Australia, leveraging VIQ’s NetScribe distribution technology. In the United States, Net Transcripts, a VIQ Solutions company, continues to increase market share, adding 13 new clients and 3 contact renewals in June.
Net Transcripts, a VIQ Solutions Company, Lands 83 New Law Enforcement Clients
Net Transcripts, the law enforcement transcription services branch of VIQ Solutions, has generated 83 new, strategically-located clients since the company was acquired in November, 2018. New and renewing contracts from major agencies across the United States will yield an annual $500K (USD) in recurring revenue and cover 14,300 sworn law enforcement officers who serve 15.1 million residents. This success strengthens Net Transcripts’ regional market dominance, market presence and secures valuable references for new sales opportunities.
VIQ Solutions Announces Record Q1 Earnings with 112 Percent Year-over-Year Revenue Growth
Today, VIQ Solutions reported financial results for the 2019 first quarter and the close of an oversubscribed capital financing round. According to CEO and President Sebastien Paré, these results set a new turning point after last year’s acquisitions, which required $6.5 million in capital funding. “By March 31, the year end foundation began to reveal its accretive value, both operationally and financially, with much more to come throughout 2019 as the AI platform integration accelerates.”
VIQ Solutions Inc. Set for Strong 2019 Growth Building on 2018 Results
Fiscal 2018 was a transformative year for VIQ as the company established a solid foundation for continued growth, margin expansion and return to sustainable cash profitability throughout 2019. While the actual and pro forma 2018 financial results include several one-time items, including transition purchase accounting adjustments, transaction closing costs, and impacts of the US government shutdown in the fourth quarter, VIQ’s operating performance during the first quarter of 2019 is tracking ahead of plan with an approximate revenue and gross margin of $6.3M and $2.8M respectively compared to $3.0M and $1.2M of revenue and gross margin in Q1 2018.
VIQ Solutions Announces New CFO, Cements Strong Executive Leadership Team Following Record Pro forma Revenue Growth in 2018
Today VIQ announced the appointment of Alexie Edwards as Chief Financial Officer, following the upcoming retirement of George Kempff. For the past six years, Mr. Edwards had a significant role in the growth of Jonas Software, one of the largest software divisions of Constellation Software, where he was Vice President Finance and enabled substantial shareholder value. His appointment as CFO completes a strong executive management team by bringing his background as a highly experienced financial technology executive to the table.
VIQ Solutions Launches its Transforming Transcription Platform, AI-enabled NetScribe™
Today VIQ announced that NetScribe, its robust cloud-based transcription platform for major insurance, court and law enforcement customers, will be released over the next few weeks. Built with VIQ’s AI based speech-to-text technology, NetScribe will significantly increase human transcriptionist efficiency, decrease turn-around times and yield higher transcription accuracy. “Our customers will benefit from exceptionally accurate documentation and be able to access drafts more quickly than ever before,” says GA Morin, VIQ Chief Information Officer.
VIQ Solutions CEO to Speak at the Ladenburg Thalmann Technology Expo 2019
CEO Sebastian Paré will be a speaker at the exclusive conference of institutional and high net worth investors to discuss VIQ’s integrated technologies and services that have the power to transform the traditional, highly fragmented transcription industry. He will also comment on VIQ’s growth in the judicial, insurance and law enforcement sectors and discuss innovative, new products like VIQ’s NetScribe™, MobileMic Pro™ and aiAssist™.
VIQ Solutions Strengthens Cybersecurity and Analytics in Upcoming Software-as-a-Service Releases
The new update to VIQ’s cloud and subscription-based services will employ the best available defenses against ever-evolving cyber threats. These releases will deliver innovative and dependable solutions, plus offer higher levels of protection and audit capabilities — a critical feature as captured content increasingly moves to off-premise infrastructure. VIQ’s enhanced cybersecurity measures ensure customers have secure content and confidential information protection all day, everyday.
VIQ Solutions Adds Executives to the Leadership Team to Drive Growth Strategy and Integration of Newly Acquired Services Organization
Today VIQ announced the appointment of Gilles-André Morin as Chief Information Officer and Laura Serrano-Haggard as Chief Marketing Officer.
Morin and Serrano-Haggard join VIQ Solutions’ executive leadership team to accelerate the integration of recent accretive acquisitions, ramp sales and adoption of new cloud-based technology, designed to change the way legal, law enforcement, and insurance organizations capture, analyze, transcribe and communicate audio and visual information.
VIQ positioned for continued growth and transformation in 2019, ends year with significant wins in the US and EMEA markets
“This was a landmark year of transformation for VIQ,” said Sebastien Paré, President and CEO of VIQ. “I’m extremely proud of what we achieved in 2018 having entered the year with a recurring revenue run-rate of approximately $10M USD, and I am even more excited about the prospects for 2019 as we enter the year with $23M USD in recurring annual revenue with the opportunity to improve VIQ’s growth profile and operating margins through a combination of sales growth, expense efficiencies, expanded customer service, cross-selling opportunities, accelerated technology sales and additional strategic acquisitions.”
VIQ Solutions Accelerates M&A Strategy, Announces Acquisition of Two US Insurance Documentation Solution Providers
“We are pleased to welcome Transcription Express and HomeTech to VIQ Solutions,” said Sebastien Paré, President and CEO of VIQ. “The addition of these industry leaders and the volume of recordings they transcribe will significantly expand the addressable content of our AI services and generate new value for all our customers.”
VIQ Announces Multi-Year Technology Contract for Spark & Cannon with Victoria Police
“Spark & Cannon is entrusted to transcribe more than 300 million words each year under concurrent multi-year government transcription contracts in Australia,” said Sebastien Paré, President and CEO of VIQ Solutions. “With the expansion of our service offering to include capture technology for Victoria Police, we are providing them a true end-to end solution.”
VIQ Solutions Reports Third Quarter Results and Provides Operational Update
“The Company continued its transition to SaaS and artificial intelligence-based revenue from its new products,” stated Sebastien Paré, VIQ President and CEO. “Growing customer acceptance strengthens VIQ’s recurring revenues and growing market presence while scaling up the transition.”
VIQ Solutions Announces Acquisition of Leading Law Enforcement and Criminal Justice Secure Documentation Solutions Company
“The acquisition of Net Transcripts, a market and trusted leader in law enforcement, is a substantial milestone in VIQ’s growth strategy to expand our portfolio of services, opening up a significant and growing market in the USA. This highly fragmented market is undergoing major disruption due to artificial intelligence, which is encouraging customers to look at innovative ways to unlock the value in their digital media,” said Sebastien Paré, VIQ President and CEO.
VIQ Solutions Receives Patent Protection for Secure Digital Evidence-Based Training Portfolio
“We believe that this patent-protected innovation will address qualitative variations and other complications encountered when granting procedure-specific licenses to professionals, such as surgeons,” said Sebastien Paré, President and CEO of VIQ. “This technology opens up a practical pathway to assessment, grading and licensing of practicing professionals for specific procedures.”
VIQ Solutions Raises Capital for Strategic & Accretive Growth Acquisitions
“Law enforcement, insurance, and courts & justice are some of the highly fragmented markets experiencing the early stages of a massive digital revolution in the processing of audio and video recordings, and documentation of evidence. In addition, the acquisitions will increase our digital volume for AI processing and advance our AI product commercialization”, said Sebastien Paré, President and CEO of VIQ.
VIQ Appoints COO to drive growth of AI voice technology platform & expand transcription business
“Susan brings extensive experience in operations, process and technology having held executive leadership positions with one of the largest providers of natural language processing document solutions, serving the medical industry,” said Sebastien Paré, President and CEO of VIQ.
VIQ Reports Q2 Revenue Growth & Operational Update
“We are excited to see our customers transitioning from conventional license and support models to our new SaaS platform. Our customers are truly gaining an understanding of the benefits, and are moving to take advantage of the enhanced functionality offered by NetScribeTM and aiAssistTM,” said Sebastien Paré, President and CEO of VIQ.
VIQ releases first commercial AI application
“MobileMic has been completely re-engineered and is the first commercial deployment of VIQ’s aiAssistTM Artificial Intelligence platform,” said Sebastien Paré, President and CEO of VIQ Solutions. “We are excited to offer this artificial intelligence capability to the marketplace and existing customers.”
VIQ Announces New Partnership with Canadian Police
“We are honoured to provide the city police with our technologies for capture and management of sensitive interrogations. VIQ Satellite employs cybersecurity, data analytics and our collaborative web portal,” said Sebastien Paré, President and CEO of VIQ Solutions.
VIQ Reports Steady Growth and Profitable First Quarter Results
Selected Q1 2018 Highlights:
- Revenues increased 4.2% to $3.0 million from $2.9 million in Q1 2017.
- Year over year, software revenue increased by 6% and services by 3.1%.
- Significant development efforts on new artificial intelligence (ai) product aiAssistTM.
VIQ Solutions Inc. Reports Full Year 2017 Results
- Revenue increased by 36%
- Recurring revenue up 23% via transition to Artificial Intelligence and SaaS
“Fiscal 2017 was a transformational year for VIQ,” stated Sebastien Paré, VIQ President and CEO, and “The Company successfully established a strong foundation for our transition to SaaS and artificial intelligence-based revenue from its new products.”
Veteran Court Technology Executive to Lead Global Justice Initiatives
“Kurt brings a deep commitment of courts to our leadership team, along with more than a decade of proven success working with the world’s most innovative courts,” said Peter Kostandenou, CMO. “Kurt will focus on growing our core judicial business, increasing partnerships with courts, best-in-class AV integrators, and developing strategic alliances.”
VIQ Solutions Announces Important EMEA Business Expansion
“The EMEA region is proving it is the growth hub we anticipated. Our partners and clients throughout the region have welcomed VIQ’s advanced solutions which provide a secure platform meeting the increased demands of their growing businesses,” said Sebastien Paré, President and CEO of VIQ Solutions.
VIQ Announces Breakthrough Win with US Medical Trauma Center
“This breakthrough advances VIQ’s growing reputation in Healthcare, Public Safety, Justice, and Law Enforcement. VIQ’s leading-edge digital media solutions are designed to meet the exacting demands of these markets while maintaining the highest level of security and privacy for their digital content,”said Sebastien Paré, President and CEO of VIQ Solutions.
VIQ Announces Conference Call to Discuss Third Quarter Results
The call will be held on Thursday, November 30th at 16:00 ET. Participants may join the conference call by dialing 1-855-223-2840 within North America or
1-647-788-4945 outside of North America five to ten minutes prior to the scheduled start time. The conference ID is 6091588 “VIQ Q3 Earnings Conference Call.”
VIQ Announces $5.5M to Accelerate its Game Changing aiAssist™
VIQ intends to use the net proceeds of the Offerings to accelerate market delivery of its artificial intelligence platform, aiAssist™. Government agencies especially in the areas of public safety, intelligence, and medical are expected to make significant investments in Analytics and Artificial Intelligence (“AI”) technologies over the next five years.
VIQ Announces Contract with the University of Guelph
“This collaborative audio-video project with a prestigious customer such as OVC is a very important win for VIQ in the medical market. VIQ Satellite AV employs our most advanced technologies including cybersecurity, data analytics and the collaborative web portal,” said Sebastien Paré, President and CEO of VIQ Solutions.
VIQ Announces Next Growth Driver, aiAssist™
VIQ’s artificial intelligence platform is being designed to unlock the critical value of the massive digital content customers and partners securely capture, manage and mine with VIQ.
VIQ Announces Next Generation Evidence Management Suite
VIQ CyberCrypt is currently in the midst of an enterprise level implementation with an international government agency, having successfully passed the highest levels of security testing and scrutiny by one of the world’s most security conscious organizations. Due to the confidential nature of the agency’s operations, the customer has requested that no further details of the implementation be released.
VIQ Announces SatCon Mobile Capture with Speech Recognition
VIQ CyberCrypt is currently
“The secure app combines the convenience and simplicity of a mobile device with the security and sophistication of VIQ’s intelligent workflow,” said Malcolm Macallum, Chief Operating and Technology Officer at VIQ Solutions. “VIQ SatCon reduces the burden on operators while maintaining seamless integration to VIQ’s powerful back end technology.”
VIQ Announces Contract with South Australia Employment Tribunal
VIQ Solutions Inc. (TSX VENTURE:VQS) is pleased to announce that Spark & Cannon, VIQ’s Australia based reporting and transcription services and technology distributor, was awarded a new multiyear contract with the South Australia Employment Tribunal (“SAET”) for secure integrated software and transcription services.
VIQ Announces EnConnect Smartphone App
VIQ EnConnect was designed for professional mobile use, with applications including the secure capture of interviews or testimony for courts, law enforcement or immigration agencies; AV evidence capture for insurance providers; or in education and training to document proof of competency and facilitate assessment.