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VIQ Solutions Inc. has announced it will not proceed with the previously planned public offering of common shares, deemed unsuitable under current market conditions. This decision follows a management assessment prioritizing shareholder interests. The offering was registered under the United States SEC and Canadian securities regulatory authorities. Additionally, VIQ's common shares are set to begin trading on Nasdaq under the ticker 'VQS' starting August 12, 2021. No shares will be sold as part of the offering.
VIQ Solutions Inc. has announced a proposed public offering of common shares in the U.S. and Canada, with exact details to be determined. The shares will trade on the Nasdaq under the ticker symbol 'VQS', likely commencing following the pricing of the offering. Proceeds will primarily fund product development and potential acquisitions. The offering is subject to market conditions and regulatory approvals, with an over-allotment option for underwriters covering up to 15% of shares sold.
VIQ Solutions Inc. has received approval to list its common shares on the Nasdaq under the symbol 'VQS.' This move is expected to enhance liquidity, public profile, and analyst coverage for the company. For the second quarter of FY2021, VIQ anticipates revenue between $8.0 to $8.1 million, with gross margins around 45.5%. Looking ahead, the third quarter revenue is projected at $8.2 to $8.5 million, gross margins between 46.0% to 47.0%. Additionally, VIQ secured new multi-year contracts worth up to $3.2 million, with gross margins expected between 50% to 55%.
VIQ Solutions has partnered with Law In Order to enhance digital solutions in the legal sector. This collaboration integrates VIQ's AI-driven transcription services with Law In Order's eHearing and eArbitration services, aiming to improve data accessibility while maintaining security. Key objectives include transforming the judicial process, enhancing evidence presentation, and improving operational efficiencies in court workflows. This partnership aligns with VIQ's strategy for global growth and innovation in legal technology.
VIQ Solutions announced the hiring of two new sales leaders to enhance its growth and digital transformation efforts. Sharon Schwans, with nearly 15 years in sales and account management, joins as Director of Sales, Insurance Services. Stephen Gaus, bringing 25 years of experience in public sector sales, is appointed as Director of Sales, Criminal Justice and Partner Relations. This strategic move aims to expand VIQ's global footprint and improve its AI-driven services, according to executives. The company emphasizes innovation and alignment with shareholder interests for long-term value creation.
VIQ Solutions Inc (VQSLF) announced the filing of a preliminary short form base shelf prospectus and registration statement with securities regulators in Canada and the SEC in the U.S. This move is part of its growth strategy as the company aims for an uplisting to a major U.S. stock exchange. The prospectus allows for the offering of up to US$225 million in various securities over a 25-month period. Proceeds will support corporate purposes such as acquisitions, software development, and sales infrastructure enhancement.
VIQ Solutions Inc. (TSX:VQS, OTCQX:VQSLF) will release its financial results for Q1 2021 on May 13, 2021, after market close. A conference call to discuss these results will be held on May 14 at 11:00 AM ET. Investors can access the live webcast on the Company's website or by dialing in with the provided numbers. VIQ Solutions specializes in AI-driven digital voice and video capture technology, serving various markets to enhance evidence quality and facilitate digital transformation.
VIQ Solutions Inc. (TSX: VQS, OTCQX: VQSLF) announced the results of its annual meeting held on April 29, 2021. A total of 15,473,015 shares were voted, accounting for 62.16% of outstanding shares. All proposed resolutions were approved, including the election of directors with high approval rates: Sebastien Pare (96.61%), Larry Taylor and Harvey Gordon (99.07%). The number of directors was fixed at six with 97.47% approval. KPMG LLP was appointed as auditor with 99.99% approval. The Omnibus Equity Incentive Plan received 89.65% support.
VIQ Solutions reported its unaudited financial results for Q4 and full year 2020, highlighting a record revenue of $31.7 million, a 27% increase from 2019. The Q4 revenue reached $7.8 million, up 28%. Despite a net loss of $11.4 million for the year, VIQ improved its Adjusted EBITDA to $5.0 million, a 473% increase. The company emphasized its transition to a cloud-based workflow and significant investments in AI technology. Looking ahead, VIQ plans to continue focusing on organic growth and innovation while navigating COVID-19 uncertainties.
VIQ Solutions Inc (TSX:VQS, OTCQX:VQSLF) will announce its financial results for Q4 and full year 2020 post-market on April 7, 2021. A conference call is scheduled for April 8 at 11:00 AM ET for discussion of these results. Investors can access the call via webcast or dial-in options. VIQ is a leading provider of AI-driven digital voice and video capture technology, servicing sectors like criminal justice and media, focused on enhancing content accessibility and security.
