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.