Welcome to our dedicated page for Sylogist news (Ticker: SYZLF), a resource for investors and traders seeking the latest updates and insights on Sylogist stock.
Sylogist Ltd. (SYZLF) is a leading public sector SaaS company providing mission-critical SaaS solutions to over 2,000 public sector customers globally across government, nonprofit, and education verticals. The company reported record revenue of $16.8 million in Q3 2023, up 18% Y/Y, with SaaS ARR growth of 26% Y/Y to $27.7 million. With a recurring revenue growth of 12% Y/Y, SaaS NRR of 108%, and a gross profit margin of 61%, Sylogist continues to demonstrate profitable organic growth acceleration as a SaaS provider. The company's adjusted EBITDA margin was 26% or $4.4 million, with bookings of $7.7 million, up 26% Q/Q, and a backlog of $32.2 million, up 12% Q/Q. The Board of Directors approved a dividend of $0.01 per share and renewed its normal course issuer bid. Sylogist is traded on the Toronto Stock Exchange under the symbol SYZ.
Sylogist (TSX: SYZ), a public sector SaaS company, has announced changes to its Board of Directors. J. Kim Fennell, a seasoned Silicon Valley executive with over 35 years of experience, has been appointed as a new director. Fennell brings significant expertise as a three-time CEO, including roles at Uber Technologies and deCarta, and currently serves as a venture partner at True North Fund.
Additionally, Taylor Gray will resign from the board effective February 28th, 2025. Gray served for 7 years, primarily as audit committee chair, during a period of company transformation. The changes come as Sylogist continues to execute its value creation plan and growth strategy.
Sylogist (TSX: SYZ), a leading public sector SaaS company, has announced the details of its third quarter 2024 earnings conference call. The company's financial statements for Q3 2024 will be released before market open on November 7, 2024. A conference call will be held on the same day at 8:30 AM Eastern Time.
During the call, Bill Wood, Sylogist's President and CEO, and Sujeet Kini, the CFO, will review the company's recent financial results and business performance. Interested parties can join the call using the toll-free dial-in number +1-844-763-8274 or access the webcast via the provided link. The conference call will be recorded and made available for replay on Sylogist's website.
Sylogist (TSX: SYZ), a leader in public sector SaaS solutions, announced the divestiture of its Managed IT Services division to Mountain View IT Solutions (MVITS) of Calgary, AB. CEO Bill Wood highlighted that this move aligns with the company's strategy to focus on its core SaaS business, which promises greater value creation and leverage opportunities. The transition will affect a modest number of customers, with MVITS ensuring a seamless handoff. This strategic decision enables Sylogist to enhance its SaaS revenue profile while integrating MVITS into its partner community for managed IT services.
Sylogist (TSX: SYZ) informs shareholders of a correction to the ex-dividend date, changing it from May 30 to May 31, 2024. The company remains a leading public sector SaaS company with no other changes in details.
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