Ciscom Significantly Improves Operational Results in 2024
Ciscom Corp (OTCQB: CISCF) has released its 2024 financial results, showing stable year-over-year performance despite significant challenges. The company maintained revenues at $35.018M (down 0.4% from 2023) and gross profit at $6.822M (down 1.2%). Notable achievements include doubling EBITDA to $2.032M, representing a 106.4% increase from 2023.
The company faced two major setbacks: a Canada Post labor dispute that impacted Q4 sales by approximately $750,000, and a significant client's bankruptcy filing resulting in a $1.385M impairment charge. Despite these challenges, Ciscom generated positive cash flows of $1.236M in 2024 and implemented successful cost reduction initiatives saving over $0.6M annually.
Ciscom Corp (OTCQB: CISCF) ha pubblicato i risultati finanziari per il 2024, mostrando una performance stabile anno su anno nonostante le sfide significative. L'azienda ha mantenuto i ricavi a $35.018M (in calo dello 0,4% rispetto al 2023) e il profitto lordo a $6.822M (in calo dell'1,2%). Tra i risultati notevoli c'è il raddoppio dell'EBITDA a $2.032M, che rappresenta un aumento del 106,4% rispetto al 2023.
L'azienda ha affrontato due importanti ostacoli: una disputa lavorativa con Canada Post che ha impattato le vendite del Q4 per circa $750.000, e la dichiarazione di fallimento di un cliente significativo che ha comportato una perdita di valore di $1.385M. Nonostante queste sfide, Ciscom ha generato flussi di cassa positivi di $1.236M nel 2024 e ha attuato iniziative di riduzione dei costi che hanno portato a un risparmio di oltre $0.6M all'anno.
Ciscom Corp (OTCQB: CISCF) ha publicado sus resultados financieros de 2024, mostrando un rendimiento estable año tras año a pesar de los desafíos significativos. La empresa mantuvo los ingresos en $35.018M (una caída del 0,4% en comparación con 2023) y el beneficio bruto en $6.822M (una disminución del 1,2%). Entre los logros notables se incluye el duplicado del EBITDA a $2.032M, lo que representa un aumento del 106,4% en comparación con 2023.
La empresa enfrentó dos grandes contratiempos: una disputa laboral con Canada Post que impactó las ventas del Q4 en aproximadamente $750,000, y la declaración de quiebra de un cliente importante que resultó en un cargo por deterioro de $1.385M. A pesar de estos desafíos, Ciscom generó flujos de efectivo positivos de $1.236M en 2024 y llevó a cabo iniciativas exitosas de reducción de costos que ahorraron más de $0.6M anualmente.
Ciscom Corp (OTCQB: CISCF)는 2024년 재무 결과를 발표하며, 중요한 도전에도 불구하고 전년 대비 안정적인 성과를 보여주었습니다. 회사는 수익을 $35.018M로 유지했으며(2023년 대비 0.4% 감소), 총 이익은 $6.822M로(1.2% 감소) 기록했습니다. 주목할 만한 성과로는 EBITDA가 $2.032M로 두 배 증가하여 2023년 대비 106.4% 증가한 것입니다.
회사는 두 가지 주요 장애물에 직면했습니다: Canada Post와의 노동 분쟁으로 인해 4분기 매출이 약 $750,000 감소했고, 주요 고객의 파산 신청으로 $1.385M의 손상 차손이 발생했습니다. 이러한 도전에도 불구하고, Ciscom은 2024년에 $1.236M의 긍정적인 현금 흐름을 생성하였고, 연간 $0.6M 이상의 비용 절감 이니셔티브를 성공적으로 실행했습니다.
Ciscom Corp (OTCQB: CISCF) a publié ses résultats financiers pour 2024, montrant une performance stable d'une année sur l'autre malgré des défis importants. L'entreprise a maintenu ses revenus à $35.018M (en baisse de 0,4% par rapport à 2023) et son bénéfice brut à $6.822M (en baisse de 1,2%). Parmi les réalisations notables, on trouve le doublement de l'EBITDA à $2.032M, représentant une augmentation de 106,4% par rapport à 2023.
L'entreprise a rencontré deux principaux revers : un conflit de travail avec Canada Post qui a impacté les ventes du T4 d'environ 750 000 $, et la déclaration de faillite d'un client important entraînant une charge de dépréciation de $1.385M. Malgré ces défis, Ciscom a généré des flux de trésorerie positifs de $1.236M en 2024 et a mis en œuvre des initiatives de réduction des coûts ayant permis d'économiser plus de $0.6M par an.
Ciscom Corp (OTCQB: CISCF) hat seine finanziellen Ergebnisse für 2024 veröffentlicht und zeigt trotz erheblicher Herausforderungen eine stabile Leistung im Jahresvergleich. Das Unternehmen hielt die Einnahmen bei $35.018M (ein Rückgang von 0,4% im Vergleich zu 2023) und den Bruttogewinn bei $6.822M (ein Rückgang von 1,2%). Zu den bemerkenswerten Erfolgen gehört die Verdopplung des EBITDA auf $2.032M, was einem Anstieg von 106,4% im Vergleich zu 2023 entspricht.
Das Unternehmen sah sich zwei großen Rückschlägen gegenüber: einem Arbeitskonflikt mit Canada Post, der die Verkäufe im 4. Quartal um etwa $750.000 beeinträchtigte, und der Insolvenz eines bedeutenden Kunden, die zu einem Wertminderungsaufwand von $1.385M führte. Trotz dieser Herausforderungen generierte Ciscom 2024 positive Cashflows in Höhe von $1.236M und setzte erfolgreiche Kostensenkungsinitiativen um, die jährlich über $0.6M einsparen.
- EBITDA more than doubled to $2.032M (106.4% increase)
- Cost reduction initiatives saved over $0.6M annually
- Positive cash flows of $1.236M maintained despite challenges
- Stable gross margins at 19.5%
- Net loss improved by 13% year-over-year
- $1.385M impairment charge due to major client bankruptcy
- $750,000 negative impact on gross profit from Canada Post labor dispute
- Revenue declined 0.4% to $35.018M
- Gross profit decreased 1.2% to $6.822M
Toronto, Ontario--(Newsfile Corp. - April 3, 2025) - CISCOM Corp. (CSE: CISC) (OTCQB: CISCF) ("Ciscom" or "the Company"), which actively invests in, acquires, and manages companies within the Information and Communication Technology ("ICT") sector with a specialty in AdTech and MarTech, is pleased to announce that it has filed its audited consolidated financial statements and management's discussion and analysis ("MD&A") for the year ended December 31, 2024. The financial statements show that Ciscom's revenues were stable year-over-year, and its cash-basis operating results (EBITDA) before non-recurring impairment charge more than doubled year-over-year - an impressive organic growth. The financial statements and the related MD&A are available on www.sedarplus.ca.
Ciscom's subsidiaries have principally served the retail sector and sales are aligned to this sector. As a result, historically a significant portion of its sales occurs in the last 4 months of the year. The Canada Post Corporation ("CPC") labor dispute in the fall of 2024 disrupted business and sales overall as direct mail could not be distributed and clients cancelled campaigns. Consequently, the CPC labor dispute negatively impacted the Company's Q4 2024 sales and gross profit. Gross profit was negatively impacted by an amount of approximately
The Company achieved sales of
Ciscom achieved a cash-based operating profit (EBITDA) of
For 2024, Ciscom reported a net loss of
The Company continues to carry significant non-cash expenses totaling
"We had a strong growth year that was dampened by the CPC labor dispute and a meaningful client's CCAA filing," reported Michel Pepin, President, CEO and Director of Ciscom Corp. "Yet, operations are doing well and new clients are being signed. We have a resilient business and we will recover from these two atypical and one-time events, stronger than before. It is particularly impressive that our growth comes during a difficult economy where retailers are still facing strong headwinds. Again, this is a testimony to the quality and expertise of our team, led by Dave Mathews and Sheri Rogers, and robust client relationships developed through the years, that we are able to withstand economic challenges and a changing market landscape."
"For Ciscom, 2024 was a year of significant multi-faceted challenges," continued Pepin. "These are now behind the Company and in 2025, the Company will be able to focus back on its core mandate by raising capital and closing acquisitions. Ciscom continues to be in good standing with its banking partners, reflecting the Company's rigorous financial management and governance standards. Looking ahead, Ciscom is poised for further growth, with a focus on new acquisitions, client-centric services, and a commitment to operational excellence."
Non-IFRS Measures
This news release contains non-IFRS financial measures, in particular, EBITDA, calculated as total operating income (loss), excluding depreciation and amortization, stock-based compensation, other non-cash expenses. The closest comparable IFRS measure is total operating income (loss). Such measures are standard practices for emerging companies with significant non-cash items as part of management disclosures.
The Company believes that this measure provides investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business. Although management believes this financial measure is important in evaluating the Company's performance, it is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS.
For a full comparison of non-IFRS financial measures used herein to their nearest IFRS equivalents, please see the section entitled "Non-IFRS Financial Measures" in the Company's MD&A for the year ended December 31, 2024.
About Ciscom Corp.
Ciscom actively invests in, acquires, and manages market leading companies within the Information and Communication Technology (ICT) sector, with a specialty in AdTech and MarTech, targeting SMEs with proven profitability. This approach allows entrepreneurs to monetize their equity and continue contributing, enhancing shareholder value through acquisitions. As a leader in omni-media, particularly in data-driven marketing, Ciscom, through its subsidiaries, optimizes advertising spend across platforms, ensuring high ROI and customer engagement. Strategic ICT acquisitions bolster service offerings and shareholder value, marking Ciscom as an emergent force in the data driven and technology market. Ciscom became an issuer in June 2023 on the CSE and October 2023 on the OTCQB. Ciscom has two subsidiaries, namely Market Focus Direct and Prospect Media Group. For more information, visit http://www.ciscomcorp.com
CONTACT INFORMATION
Michel Pepin
President & CEO, Director
mpepin@ciscomcorp.com
@CiscomCorp
Cautionary Statement
This news release contains certain statements that constitute forward-looking statements as they relate to Ciscom and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "should", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct or will come to pass. Forward-looking statements include statements and information regarding the anticipated audited financial results, anticipated signing of additional clients, potential future acquisitions and financings, future business and operational focuses of Ciscom, future expectations of growth and profits, future grants of equity incentive awards, future payments of dividends, the future plans for the Company, and other forward-looking information. By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions, or events to differ materially from those in the forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the capital requirements of the Company and ability to maintain adequate capital resources to carry out its business activities and raise additional capital as required or expedient; the ability to identify target acquisitions and complete such transactions on an economic basis or at all, and successfully integrate those business; the ability to convert the potential in the pursued business opportunities to tangible benefits to the Company or its shareholders; risks of a material adverse change to the Company's assets or revenue; stock market volatility and capital market valuation; the ability of the Company to continue as a going concern; dependence on key personnel; the Company's early stage of development; potential losses on investments; unstable and potentially negative economic conditions; fluctuations in interest rates; competition for investments within the ICT sector; maintenance of client relationships; maintaining a listing on the Canadian Securities Exchange; risks related to potential dilution in the event of future financings; audit risk; litigation risk and risk of future legal proceedings; jurisdictional and regulatory risk; lack of operating cash flow; income tax matters; availability and terms of financing; rising costs related to inflation; and effects of market interest on price of securities and potential dilution; and those factors detailed in the Company's prospectus dated June 5, 2023 and other public documents filed under Ciscom's profile at https://www.sedarplus.ca/. The foregoing list of factors is not exhaustive. Ciscom's assumptions in making any forward-looking statements herein include that no significant events will occur outside of Ciscom's normal course of business and that the material factors referred to in this paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. Although Ciscom has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. The forward-looking information contained in this press release represents the expectations of Ciscom as of the date of this press release and, accordingly, is subject to change after such date. Ciscom does not undertake to update this information at any particular time except as required in accordance with applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247299
FAQ
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