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Altus Group (AIF) investor relations material

Altus Group Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary7 Aug, 2025

Executive summary

  • Q2 2025 revenue was $131.5M, up 0.8% year-over-year, with profit from continuing operations at $9.3M versus a loss last year.

  • Adjusted EBITDA rose 55.7% to $28.5M, with margin expanding 790 bps to 21.7% year-over-year.

  • Recurring revenue reached $100.8M, making up 77% of consolidated revenue, with a 23% CAGR from 2020-2024.

  • Adjusted EPS improved to $0.50, aided by higher profit and a lower share count from the buyback program.

  • Share buyback program reduced shares outstanding by 6.5% year-over-year, with $179M spent year-to-date and $101.7M in Q2 2025.

Financial highlights

  • Analytics recurring revenue: $100.8M (up 3.7% y/y at constant currency).

  • Adjusted EBITDA margin: 21.7% (up from 13.8% y/y), consolidated margins expanded for the fourth consecutive quarter.

  • Free cash flow declined 30.5% to $26.1M, reflecting the prior year’s contribution from a divested business.

  • Corporate costs benefited from a $6.2M one-time FX gain; excluding this, earnings still showed strong growth.

  • Basic and diluted EPS from continuing operations: $0.21 (up from -$0.19 y/y).

Outlook and guidance

  • FY2025: 3-6% Analytics revenue growth, 5-7% recurring revenue growth, and 250-350 bps Adjusted EBITDA margin expansion.

  • Consolidated: 2-4% revenue growth, 400-500 bps Adjusted EBITDA margin expansion.

  • Appraisals & Development Advisory: flat to low single digit revenue growth, margin expansion expected.

  • Q3 2025 guidance: similar growth and margin expansion trends expected.

  • Guidance assumes stable economic and CRE market conditions, consistent client retention, and no major acquisitions.

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Frequently asked questions

Altus Group Limited provides software, data solutions, and independent advisory services to the commercial real estate industry. The company provides analytics and decision-making tools for the global commercial real estate industry. It creates distinct, custom software tools that help clients identify, capture, store, and deliver actionable insights to support strategic and operational decision making. The company's flagship technology, SWARM, is a cloud-based software suite that incorporates geographic mapping technology coupled with financial valuation models specially developed for use in the retail sector. It serves clients globally primarily in the United States, Canada, and Europe. Altus Group Limited is based in Toronto, Canada.

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