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SYZ — Sylogist News Story

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Canada's Sylogist Q2 revenue falls, posts net loss

Canada's Sylogist Q2 revenue falls, posts net loss


Overview

  • Canada public sector SaaS firm's Q2 revenue fell 6.5% yr/yr

  • Company posted net loss of C$2.8 mln for Q2

  • Gross profit margin for Q2 was 57%


Outlook

  • Company did not provide specific guidance for future quarters or the full year


Result Drivers

  • OPERATIONAL FOCUS - Co said it is prioritizing improved execution, product portfolio strengthening, and disciplined operations to support long-term growth, per CEO Joel Leetzow

  • RECURRING REVENUE BASE - Recurring revenue accounted for 76% of total revenue in Q2


Company press release: ID:nNFCc5t3gL


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Gross Margin

57%


Analyst Coverage

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

  • The average consensus recommendation for the software peer group is "buy"

  • Wall Street's median 12-month price target for Sylogist Ltd is C$5.13, about 46.8% above its August 10 closing price of C$3.49


Reuters Recommended Reads

  • Aug 11 - Canada's Constellation Software Q2 net income up on foreign exchange gains, liability revaluation impacts

  • Aug 10 - N-Able Q2 revenue slightly beats estimates on AI-powered cybersecurity growth

  • Aug 11 - Altigen Q3 revenue falls 14% year over year


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.)

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