Tecsys (TCS) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with introductions of executive leadership and directors, and outlined rules for virtual participation and Q&A session.

• Agenda included procedural matters, financial review, election of directors, auditor appointment, and executive presentations.

Board and executive committee updates

• Eight nominees were proposed and elected as directors to serve until the next annual meeting or until successors are appointed.

• KPMG LLP was reappointed as auditors, with directors authorized to fix their remuneration.

Financial performance review

• Revenue grew by 3% in 2025, with SaaS revenue up 29% and hardware revenue down 39%.

• Adjusted EBITDA increased by 39% to CAD 13.4 million, driven by SaaS margin expansion.

• SaaS margin rose from 50% in 2023 to 61% in 2025, with a target of 65% in 2026 and a long-term goal of 80%.

• Cash and short-term investments exceeded CAD 39 million, with no debt and CAD 6.9 million in share repurchases.