Canada's Renoworks Q2 recurring revenue rises 38%

Renoworks Software

27/08/2026 11:16

Overview
Canada digital visualization provider's Q2 revenue fell 17% yr/yr as design services declined
Recurring revenue for Q2 grew 38% yr/yr, supporting higher gross margin of 80%
Company posted net loss for Q2, reflecting increased expenses for product development and marketing

Outlook
Company prioritizes growing recurring revenue and advancing its AI-driven technology platform
Renoworks expects the remodeling industry to shift toward more connected, AI-enabled experiences
Company continues to invest in product development to expand platform capabilities and integration

Result Drivers
DESIGN SERVICES DECLINE - Co said Q2 revenue fell due to an expected 80% drop in design services revenue
RECURRING REVENUE GROWTH - Q2 recurring licensing revenue increased 38% yr/yr, supporting higher gross margin
INCREASED EXPENSES - Higher expenses driven by product development, marketing and R&D for next-gen platform

Company press release: ID:nCNWMyhN8a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
C$1.8 mln
 

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(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.)