IC Group (ICGH) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 increased 29% year-over-year to CAD 7.8 million (or $7.8 million), with 86% of growth being organic, reflecting strong momentum and product-market fit.

• Gross profit rose 22% to CAD 3.3 million, and adjusted EBITDA improved 300% to CAD 0.67 million, driven by operating leverage and reduced one-time costs.

• Annual recurring revenue accounted for 68% of total revenue, supporting visibility and stability as the business scales.

• Net loss narrowed significantly to $(0.33) million from $(2.09) million, reflecting improved profitability and absence of prior year non-recurring expenses.

• The company operates three segments: IC Engage, IC Mobile, and IC Insurance, each contributing to diversified growth.

Financial highlights

• Q1 2026 revenue reached CAD 7.8 million, up 29% year-over-year, with gross profit of CAD 3.3 million and gross margin of 43%.

• Adjusted EBITDA for Q1 2026 was CAD 0.67 million, a 300% improvement year-over-year.

• Cash on hand at quarter-end was CAD 3.4 million, aided by deferred revenue drawdown and balance sheet deleveraging.

• Last 12 months revenue reached CAD 29 million, with gross profit of CAD 13 million and gross margins of 45%.

• Long-term debt reduced by CAD 0.6 million year-over-year.

Outlook and guidance

• Management expects continued scaling in the mobile division and consistent growth in IC Engage, with a focus on expanding customer reach and improving monetization.

• Strategic investments in technology and new messaging channels are planned to drive future growth and margin improvement.

• Cash position is expected to dip in Q2 due to seasonality, then replenish in Q3.

• Strategic priorities for the remainder of 2026 to be discussed in an investor webinar.