Canada's Altus Group Q1 revenue rises 6% but misses analyst expectations

Altus

07/05/2026 22:07

Overview

Canada commercial real estate analytics firm's Q1 revenue rose 6.2% yr/yr but missed analyst expectations

Q1 adjusted EBITDA grew 46.8% and beat analyst expectations

Company attributes margin expansion to cost discipline and portfolio rationalization

Outlook

Altus Group raised 2026 revenue growth guidance to 5–7%, now C$448–C$454 mln

Company expects 2026 adjusted EBITDA margin of 26–27%, up from previous view

Altus withdrew recurring revenue guidance as it now represents about 95% of total revenue

Result Drivers

RECURRING REVENUE - Co said steady growth in annual recurring revenue was driven by demand for flagship analytics offerings

COST DISCIPLINE - Margin expansion attributed to disciplined cost actions and ongoing portfolio rationalization

PRODUCT INNOVATION - Launch of ARGUS Assist AI feature expected to increase engagement and expand cross-sell and upsell opportunities

Company press release: ID:nGNX4pgQkv

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
C$108.20 mln
C$124.86 mln (5 Analysts)
Q1 Adjusted EBITDA
Beat
C$23.70 mln
C$23 mln (6 Analysts)
Q1 Adjusted EBITDA Margin
21.90%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the real estate services peer group is "buy."

Wall Street's median 12-month price target for Altus Group Ltd is C$53.00, about 17.6% above its May 6 closing price of C$45.07

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 20 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)