CALGARY, Alberta, Nov. 11, 2025 (GLOBE NEWSWIRE) — Computer Modelling Group Ltd. (“CMG Group” or the “Company”) announces its financial results for the three and six months ended September 30, 2025, and the approval by its Board of Directors (the “Board”) of the payment of a cash dividend of $0.01 per Common Share for the Second quarter ended September 30, 2025.
SECOND QUARTER 2026 CONSOLIDATED HIGHLIGHTS
Select financial highlights
- Total revenue increased by 2% (17% Organic decline(1) and 19% growth from acquisitions) to $30.2 million;
- Recurring revenue(2) increased by 13% (9% Organic decline and 22% growth from acquisitions) to $20.7 million;
- Adjusted EBITDA(1) decreased by 25% to $7.6 million;
- Adjusted EBITDA Margin(1) was 25%, compared to 34% in the comparative period;
- Earnings per share was $0.03, a 40% decrease;
- Free Cash Flow(1) decreased by 68% to $2.0 million; Free Cash Flow per share decreased to $0.02 from $0.07.
SECOND QUARTER YEAR TO DATE 2026 CONSOLIDATED HIGHLIGHTS
Select financial highlights
- Total revenue was flat (15% Organic decline(1) and 15% growth from acquisitions) to $59.8 million;
- Recurring revenue(2) increased by 10% (7% Organic decline and 17% growth from acquisitions) to $41.6 million;
- Adjusted EBITDA(1) decreased by 25% to $14.6 million;
- Adjusted EBITDA Margin(1) was 24%, compared to 33% in the comparative period;
- Earnings per share was $0.07, a 22% decrease;
- Free Cash Flow(1) decreased by 45% to $6.4 million; Free Cash Flow per share decreased to $0.08 from $0.14.
| (1) | Organic growth/decline, Adjusted EBITDA, Adjusted EBITDA Margin, Recurring Revenue, Free Cash Flow and Free Cash Flow per share are not standardized financial measures and might not be comparable to measures disclosed by other issuers. For more description see under “Non-IFRS Financial Measures and Reconciliation of Non-IFRS Measures” heading. |
| (2) | Recurring revenue includes Annuity/maintenance licenses and Annuity license fee and excludes Perpetual licenses and Professional Services. |
OVERVIEW
Energy market dynamics continue to be characterized by volatility and muted commodity prices, with customer focus remaining on exercising tight capital discipline. This resulted in continued longer sales cycles and a slower pace in closing new opportunities. In the second quarter, we closed our third significant acquisition, SeisWare International Inc., a company that develops geoscience interpretation and field development software to support subsurface exploration and development projects, further strengthening and expanding our Seismic Solutions portfolio.
Subsequent to the end of the quarter, on November 10, 2025, we announced a multi-year simulation software licensing agreement with Shell representing the culmination of a long-term product development relationship. The agreement is for the Company’s suite of simulation solutions, including CoFlowTM.
On November 11, 2025, the Company announced a Normal Course Issuer Bid for its common shares as the board of directors of the Company believes that, from time to time, the market price of the common shares may not fully reflect the underlying value of the business. Additionally, we continue to pursue disciplined acquisitions that expand our capabilities and enhance our ability to navigate market volatility. To support this strategy and to augment our available cash for accretive capital deployment, we closed a $100M credit facility on November 7, 2025.
In the second quarter, an organic decline in total revenue offset most of the growth contributed by acquisitions. The decline reflected lower perpetual software license sales, which are variable in nature, as well as expected reductions in professional services and previously disclosed reductions in recurring software revenue. Recurring revenue increased 13% as growth from acquisitions more than offset an organic decline driven tied to previously disclosed reductions in licensing for reservoir and production solutions. Despite overall growth, the decline in revenue from reservoir and production solutions had a more pronounced effect on Adjusted EBITDA, given its higher margin profile, and was partially offset by contributions from our acquisitions.
The percentage decrease in Free Cash Flow was larger than the Adjusted EBITDA decrease due to stock-based compensation expenses and one-time capital expenditures.
Revenue in the second half of the year is expected to be higher than in the first half, reflecting the timing of seasonal contract renewals and revenue recognition. Organic recurring revenue growth is expected to turn positive in the fourth quarter and remain positive on an annual basis in fiscal 2027.
Adjusted EBITDA and Free Cash Flow in the second half of the year are anticipated to improve correspondingly however on a full year basis, Adjusted EBITDA (excluding future acquisitions) will be lower in Fiscal 2026 compared to Fiscal 2025 due to the decline in organic revenue and professional services.
Q2 2026 Dividend
Computer Modelling Group’s Board approved a cash dividend of $0.01 per Common Share. The dividend will be paid on December 15, 2025, to shareholders of record at the close of business on December 5, 2025.
All dividends paid by Computer Modelling Group Ltd. to holders of Common Shares in the capital of the Company will be treated as eligible dividends within the meaning of such term in section 89(1) of the Income Tax Act (Canada), unless otherwise indicated.
SUMMARY OF FINANCIAL PERFORMANCE
| Three months ended September 30, | Six months ended September 30, | |||||||||||
| ($ thousands, except per share data) | 2025 | 2024 | % change | 2025 | 2024 | % change | ||||||
| Annuity/maintenance licenses | 19,067 | 18,302 | 4 | % | 39,401 | 37,637 | 5 | % | ||||
| Annuity license fee | 1,650 | 71 | 2,224 | % | 2,168 | 249 | 771 | % | ||||
| Recurring revenue(1) (2) | 20,717 | 18,373 | 13 | % | 41,569 | 37,886 | 10 | % | ||||
| Perpetual licenses | 945 | 2,149 | (56 | %) | 1,323 | 4,259 | (69 | %) | ||||
| Total software license revenue | 21,662 | 20,522 | 6 | % | 42,892 | 42,145 | 2 | % | ||||
| Professional services | 8,539 | 8,945 | (5 | %) | 16,942 | 17,845 | (5 | %) | ||||
| Total revenue | 30,201 | 29,467 | 2 | % | 59,834 | 59,990 | 0 | % | ||||
| Cost of revenue | 5,542 | 5,692 | (3 | %) | 11,500 | 11,884 | (3 | %) | ||||
| Operating expenses | ||||||||||||
| Sales & marketing | 5,992 | 4,229 | 42 | % | 10,602 | 9,160 | 16 | % | ||||
| Research and development | 7,360 | 6,428 | 14 | % | 15,393 | 14,673 | 5 | % | ||||
| General & administrative | 6,126 | 4,688 | 31 | % | 11,865 | 10,177 | 17 | % | ||||
| Operating expenses | 19,478 | 15,345 | 27 | % | 37,860 | 34,010 | 11 | % | ||||
| Operating profit | 5,181 | 8,430 | (39 | %) | 10,474 | 14,096 | (26 | %) | ||||
| Net income | 2,716 | 3,763 | (28 | %) | 6,025 | 7,727 | (22 | %) | ||||
| Adjusted EBITDA (1) | 7,558 | 10,020 | (25 | %) | 14,629 | 19,374 | (24 | %) | ||||
| Adjusted EBITDA Margin (1) | 25 | % | 34 | % | (26 | %) | 24 | % | 32 | % | (25 | %) |
| Earnings per share – basic & diluted | 0.03 | 0.05 | (40 | %) | 0.07 | 0.09 | (22 | %) | ||||
| Funds flow from operations per share – basic | 0.04 | 0.09 | (56 | %) | 0.11 | 0.17 | (35 | %) | ||||
| Free Cash Flow per share – basic (1) | 0.02 | 0.07 | (71 | %) | 0.08 | 0.14 | (50 | %) | ||||
| (1) | Non-IFRS financial measures are defined in the “Non-IFRS Measures and Reconciliation of Non-IFRS Measures” section. |
| (2) | Included in the number is a reduction of $0.1 million and $0.2 million for the three and six months ended September 30, 2025, ($0.1 million and $0.2 million for the three and six months September 30, 2024), attributed to the amortization of a deferred revenue fair value reduction recognized on acquisition. |
NON-IFRS FINANCIAL MEASURES AND RECONCILIATION OF NON-IFRS MEASURES
Free Cash Flow Reconciliation to Funds Flow from Operations
Free Cash Flow is a non-IFRS financial measure that is calculated as funds flow from operations less capital expenditures and repayment of lease liabilities. Free Cash Flow per share is calculated by dividing Free Cash Flow by the number of weighted average outstanding shares during the period. Management believes that this measure provides useful supplemental information about operating performance and liquidity, as it represents cash generated during the period, regardless of the timing of collection of receivables and payment of payables, which may reduce comparability between periods. Management uses free cash flow and free cash flow per share to help measure the capacity of the Company to pay dividends and invest in business growth opportunities.
| Fiscal 2024 | Fiscal 2025 | Fiscal 2026 | ||||||||||||||
| ($ thousands, unless otherwise stated) | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | ||||||||
| Funds flow from operations | 8,477 | 10,367 | 6,515 | 7,101 | 9,937 | 8,227 | 5,524 | 3,588 | ||||||||
| Capital expenditures | (459 | ) | (95 | ) | (93 | ) | (236 | ) | (432 | ) | (661 | ) | (542 | ) | (1,080 | ) |
| Repayment of lease liabilities | (728 | ) | (803 | ) | (743 | ) | (769 | ) | (689 | ) | (549 | ) | (526 | ) | (541 | ) |
| Free Cash Flow | 7,290 | 9,469 | 5,679 | 6,096 | 8,816 | 7,017 | 4,456 | 1,967 | ||||||||
| Weighted average shares – basic (thousands) | 81,067 | 81,314 | 81,476 | 81,887 | 82,753 | 83,064 | 83,090 | 84,058 | ||||||||
| Free Cash Flow per share – basic | 0.09 | 0.12 | 0.07 | 0.07 | 0.11 | 0.08 | 0.05 | 0.02 | ||||||||
| Funds flow from operations per share- basic | 0.10 | 0.13 | 0.08 | 0.09 | 0.12 | 0.10 | 0.07 | 0.04 | ||||||||
Free Cash Flow decreased by 68% and 45%, respectively, for the three and six months ended September 30, 2025 from the same period of the previous fiscal year. This decrease is primarily due to lower funds flow from operations and higher capital expenditures
Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin refers to net income before adjusting for depreciation and amortization expense, interest income, income and other taxes, stock-based compensation, restructuring charges, foreign exchange gains and losses, repayment of lease obligations, asset impairments, acquisition related costs and other expenses directly related to business combinations, including compensation expenses and gains or losses on contingent consideration. Adjusted EBITDA should not be construed as an alternative to operating income, net income or liquidity as determined by IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA Margin are useful supplemental measures as they provide an indication of the results generated by the Company’s main business activities prior to consideration of how those activities are amortized, financed or taxed. In addition, management has determined that Adjusted EBITDA and Adjusted EBITDA Margin is a more accurate measurement of the Company’s operating performance and our ability to generate earnings as compared to EBITDA and EBITDA Margin.
| Three months ended September 30, |
Six months ended September 30, |
|||||||
| ($ thousands) | 2025 | 2024 | 2025 | 2024 | ||||
| Net income (loss) | 2,716 | 3,763 | 6,025 | 7,727 | ||||
| Add (deduct): | ||||||||
| Depreciation and amortization | 2,552 | 1,947 | 4,967 | 3,830 | ||||
| Acquisition costs | 433 | 576 | 469 | 764 | ||||
| Stock-based compensation | 314 | 232 | 491 | 3,138 | ||||
| Loss on contingent consideration | (126 | ) | 2,112 | (126 | ) | 1,913 | ||
| Deferred revenue amortization on acquisition fair value reduction | 85 | 83 | 235 | 172 | ||||
| Income and other tax expense | 1,648 | 2,244 | 2,565 | 4,732 | ||||
| Interest income | (214 | ) | (761 | ) | (528 | ) | (1,639 | ) |
| Foreign exchange loss (gain) | 691 | 593 | 1,598 | 421 | ||||
| Repayment of lease liabilities | (541 | ) | (769 | ) | (1,067 | ) | (1,512 | ) |
| Adjusted EBITDA (1) | 7,558 | 10,020 | 14,629 | 19,546 | ||||
| Adjusted EBITDA Margin (1) | 25 | % | 34 | % | 24 | % | 33 | % |
| (1) | This is a non-IFRS financial measure. Refer to definition of the measures above. |
Adjusted EBITDA decreased by 25% during the three months ended September 30, 2025, compared to the same period of the previous year of which 14% was growth from acquisitions, offset by an Organic decline of 39%, primarily attributable to lower net income as a result of higher expenditures during the quarter.
Adjusted EBITDA decreased by 25% during the six months ended September 30, 2025, compared to the same period of the previous year of which 8% was growth from acquisitions, offset by an Organic decline of 33%, primarily attributable to lower net income as a result of higher expenditures during the period.
Organic Growth/ Organic Decline
Organic growth and organic decline are not a standardized financial measures and might not be comparable to measures disclosed by other issuers. The Company measures Organic growth/ organic decline on a quarterly and year-to-date basis at the revenue and Adjusted EBITDA levels and includes revenue and Adjusted EBITDA under CMG Group’s ownership for a year or longer, beginning from the first full quarter of CMG Group’s ownership in the current and comparative period(s). For example, BHV was acquired on September 25, 2023 (Q2 2024). September 25, 2024, marked one full year of ownership under CMG Group and on October 1, 2024 (Q3 2025), which is the first full quarter under CMG Group’s ownership in the current and comparative period, started being tracked under Organic growth. Any revenue and Adjusted EBITDA generated by BHV prior to October 1, 2024, would not be included in Organic growth/ organic decline. Sharp was acquired on November 12, 2025 (Q3 2025) and will start contributing to Organic growth/ organic decline on January 1, 2026 (Q4 2026) and SeisWare was acquired on July 30, 2025 and will start contributing to Organic growth/ organic decline on October 1, 2026.
For further clarity, current statements include Organic growth/ organic decline from the following:
- CMG and BHV revenue and Adjusted EBITDA.
Recurring Revenue
Recurring revenue represents the revenue recognized during the period from contracts that are recurring in nature and includes revenue recognized as “Annuity/maintenance licenses” and “Annuity license fee”. We believe that Recurring revenue is an indicator of business expansion and provides management with visibility into our ability to generate predictable cash flows.
The table under “Revenue” heading reconciles Recurring revenue to total revenue for the periods indicated.
Revenue
| Three months ended September 30, | Six months ended September 30, | |||||||||||
| 2025 |
2024 | % change | 2025 |
2024 | % change | |||||||
| ($ thousands) | ||||||||||||
| Annuity/maintenance licenses | 19,067 | 18,302 | 4 | % | 39,401 | 37,637 | 5 | % | ||||
| Annuity license fee | 1,650 | 71 | 2224 | % | 2,168 | 249 | 771 | % | ||||
| Recurring revenue(1) (2) | 20,717 | 18,373 | 13 | % | 41,569 | 37,886 | 10 | % | ||||
| Perpetual licenses | 945 | 2,149 | (56 | %) | 1,323 | 4,259 | (69 | %) | ||||
| Total software license revenue | 21,662 | 20,522 | 6 | % | 42,892 | 42,145 | 2 | % | ||||
| Professional services | 8,539 | 8,945 | (5 | %) | 16,942 | 17,845 | (5 | %) | ||||
| Total revenue | 30,201 | 29,467 | 2 | % | 59,834 | 59,990 | 0 | % | ||||
| (1) | This is a non-IFRS financial measure. |
| (2) | Included in the number is a reduction of $0.1 million and $0.2 million for the three and six months ended September 30, 2025, ($0.1 million and $0.2 million for the three and six months ended September 30, 2024), attributed to the amortization of a deferred revenue fair value reduction recognized on acquisition. |
| Condensed Consolidated Statements of Financial Position | ||||
| UNAUDITED (thousands of Canadian $) | September 30, 2025 | March 31, 2025 | ||
| Assets | ||||
| Current assets: | ||||
| Cash | 32,839 | 43,884 | ||
| Restricted cash | 321 | 362 | ||
| Trade and other receivables | 30,567 | 41,457 | ||
| Prepaid expenses | 3,125 | 2,572 | ||
| Prepaid income taxes | 2,968 | 1,641 | ||
| 69,820 | 89,916 | |||
| Other long-term assets | 170 | – | ||
| Intangible assets | 64,485 | 59,955 | ||
| Right-of-use assets | 27,413 | 28,443 | ||
| Property and equipment | 11,143 | 10,157 | ||
| Goodwill | 19,137 | 15,814 | ||
| Deferred tax asset | 418 | 471 | ||
| Total assets | 192,586 | 204,756 | ||
| Liabilities and shareholders’ equity | ||||
| Current liabilities: | ||||
| Trade payables and accrued liabilities | 12,166 | 18,452 | ||
| Income taxes payable | 1,161 | 2,667 | ||
| Acquisition holdback payable | 2,336 | 188 | ||
| Acquisition earnout payable | – | 3,864 | ||
| Deferred revenue | 34,615 | 40,276 | ||
| Lease liabilities | 2,429 | 2,278 | ||
| Government loan | 327 | 310 | ||
| 53,034 | 68,035 | |||
| Lease liabilities | 33,778 | 34,668 | ||
| Government loan | 1,226 | 1,319 | ||
| Other long-term liabilities | 375 | 1,725 | ||
| Deferred tax liabilities | 14,540 | 13,102 | ||
| Total liabilities | 102,953 | 118,849 | ||
| Shareholders’ equity: | ||||
| Share capital | 95,851 | 94,849 | ||
| Contributed surplus | 15,799 | 15,460 | ||
| Cumulative translation adjustment | 5,646 | 4,326 | ||
| Deficit | (27,663 | ) | (28,728 | ) |
| Total shareholders’ equity | 89,633 | 85,907 | ||
| Total liabilities and shareholders’ equity | 192,586 | 204,756 | ||
Condensed Consolidated Statements of Operations and Comprehensive Income
| Three months ended September 30, |
Six months ended September 30, |
|||||||
| UNAUDITED (thousands of Canadian $ except per share amounts) | 2025 |
2024 | 2025 |
2024 | ||||
| Revenue | 30,201 | 29,467 | 59,834 | 59,990 | ||||
| Cost of revenue | 5,542 | 5,692 | 11,500 | 11,884 | ||||
| Gross profit | 24,659 | 23,775 | 48,334 | 48,106 | ||||
| Operating expenses | ||||||||
| Sales and marketing | 5,992 | 4,229 | 10,602 | 9,160 | ||||
| Research and development | 7,360 | 6,428 | 15,393 | 14,673 | ||||
| General and administrative | 6,126 | 4,688 | 11,865 | 10,177 | ||||
| 19,478 | 15,345 | 37,860 | 34,010 | |||||
| Operating profit | 5,181 | 8,430 | 10,474 | 14,096 | ||||
| Finance income | 214 | 761 | 528 | 1,639 | ||||
| Finance cost | (1,157 | ) | (1,072 | ) | (2,538 | ) | (1,363 | ) |
| Change in fair value of contingent consideration | 126 | (2,112 | ) | 126 | (1,913 | ) | ||
| Profit before income and other taxes | 4,364 | 6,007 | 8,590 | 12,459 | ||||
| Income and other taxes | 1,648 | 2,244 | 2,565 | 4,732 | ||||
| Net income for the period | 2,716 | 3,763 | 6,025 | 7,727 | ||||
| Other comprehensive income: | ||||||||
| Foreign currency translation adjustment | 2,333 | (189 | ) | 1,320 | 710 | |||
| Other comprehensive income/(loss) | 2,333 | (189 | ) | 1,320 | 710 | |||
| Total comprehensive income | 5,049 | 3,574 | 7,345 | 8,437 | ||||
| Net income per share – basic | 0.03 | 0.05 | 0.07 | 0.09 | ||||
| Net income per share – diluted | 0.03 | 0.05 | 0.07 | 0.09 | ||||
| Dividend per share | 0.01 | 0.05 | 0.06 | 0.10 | ||||
Condensed Consolidated Statements of Cash Flows
| 3 months ended September 30 |
6 months ended September 30 |
|||||||
| UNAUDITED (thousands of Canadian $) | 2025 |
2024 | 2025 |
2024 | ||||
| Operating activities | ||||||||
| Net income | 2,716 | 3,763 | 6,025 | 7,727 | ||||
| Adjustments for: | ||||||||
| Depreciation and amortization of property, equipment, right- of use assets |
1,093 | 1,283 | 2,155 | 2,501 | ||||
| Amortization of intangible assets | 1,458 | 664 | 2,812 | 1,329 | ||||
| Deferred income tax expense (recovery) | (152 | ) | 575 | (535 | ) | (78 | ) | |
| Stock-based compensation | (1,185 | ) | (2,106 | ) | (1,036 | ) | (214 | ) |
| Foreign exchange and other non-cash items | (342 | ) | 810 | (309 | ) | 438 | ||
| Change in fair value of contingent consideration | – | 2,112 | – | 1,913 | ||||
| Funds flow from operations | 3,588 | 7,101 | 9,112 | 13,616 | ||||
| Movement in non-cash working capital: | ||||||||
| Trade and other receivables | (1,117 | ) | (11,965 | ) | 11,032 | 1,846 | ||
| Trade payables and accrued liabilities | (3,716 | ) | 264 | (5,983 | ) | (3,067 | ) | |
| Prepaid expenses and other assets | 233 | 74 | (316 | ) | 108 | |||
| Income taxes receivable (payable) | (1,707 | ) | 687 | (2,675 | ) | 2,111 | ||
| Deferred revenue | 662 | 1,384 | (6,628 | ) | (8,846 | ) | ||
| Change in non-cash working capital | (5,645 | ) | (9,556 | ) | (4,570 | ) | (7,848 | ) |
| Net cash provided by (used in) operating activities | (2,057 | ) | (2,455 | ) | 4,542 | 5,768 | ||
| Financing activities | ||||||||
| Repayment of government loan | (78 | ) | – | (158 | ) | – | ||
| Proceeds from issuance of common shares | 616 | 480 | 828 | 2,729 | ||||
| Repayment of lease liabilities | (541 | ) | (769 | ) | (1,067 | ) | (1,512 | ) |
| Dividends paid | (825 | ) | (4,101 | ) | (4,960 | ) | (8,177 | ) |
| Other financing | (170 | ) | – | (170 | ) | – | ||
| Net cash used in financing activities | (998 | ) | (4,390 | ) | (5,527 | ) | (6,960 | ) |
| Investing activities | ||||||||
| Corporate acquisition, net of cash acquired | (5,174 | ) | – | (5,174 | ) | – | ||
| Settlement of contingent consideration | (3,582 | ) | – | (3,582 | ) | – | ||
| Property and equipment additions | (1,080 | ) | (236 | ) | (1,622 | ) | (329 | ) |
| Net cash used in investing activities | (9,836 | ) | (236 | ) | (10,378 | ) | (329 | ) |
| Increase (decrease) in cash | (12,891 | ) | (7,081 | ) | (11,363 | ) | (1,521 | ) |
| Effect of foreign exchange on cash | 1,704 | (638 | ) | 318 | (189 | ) | ||
| Cash, beginning of period | 44,026 | 69,092 | 43,884 | 63,083 | ||||
| Cash, end of period | 32,839 | 61,373 | 32,839 | 61,373 | ||||
| Supplementary cash flow information | ||||||||
| Interest received | 214 | 761 | 528 | 1,639 | ||||
| Interest paid | 466 | 479 | 940 | 942 | ||||
| Income taxes paid | 3,190 | 4,229 | 4,969 | 5,725 | ||||
CORPORATE PROFILE
CMG Group (TSX:CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. The Company is headquartered in Calgary, AB, with offices in Houston, Oslo, Stavanger, Kaiserslautern, Oxford, Dubai, Bogota, Rio de Janeiro, Bengaluru, and Kuala Lumpur. For more information, please visit www.cmgl.ca.
QUARTERLY FILINGS AND RELATED QUARTERLY FINANCIAL INFORMATION
Management’s Discussion and Analysis (“MD&A”) and condensed consolidated interim financial statements and the notes thereto for the three and six months ended September 30, 2025, can be obtained from our website www.cmgl.ca. The documents will also be available under CMG Group’s SEDAR profile www.sedarplus.ca.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements”. Forward-looking statements can be identified by words such as: “anticipate”, “intend”, “plan”, “goal”, “seek”, “believe”, “project”, “estimate”, “expect”, “strategy”, “future”, “likely”, “may”, “should”, “will”, and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our business strategies and objectives, expectations regarding revenue, Adjusted EBITDA, and Free Cash Flow, the benefits of the acquired technology, the ongoing development thereof; and the ability of data analytics to improve efficiency, cut costs and reduce risks.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections (including those related to contract renewals and additions, sales and pricing), anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are detailed in the companies’ public filings.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
CONTACT: For further information, please contact: Pramod Jain Chief Executive Officer (403) 531-1300 pramod.jain@cmgl.ca or Vipin Khullar Executive Vice President, and Chief Financial Officer (403) 531-1300 vipin.khullar@cmgl.ca For investor inquiries, please contact: Kim MacEachern Director, Investor Relations cmg-investors@cmgl.ca For media inquiries, please contact: marketing@cmgl.ca
