VIQ Solutions (VQS) Q2 2026 earnings summary

Executive summary

• Achieved another quarter of positive adjusted EBITDA and cash flow, with improved gross margins.

• Initiated a significant cost reduction program, especially with the wind down of Australian operations.

• Management and capital resources are now focused on North American and UK operations, historically the highest performing units.

Financial highlights

• Revenue for Q2 2026 was $11.5M, up 10.2% year-over-year; six-month revenue was $21.3M, up 6.3%.

• Gross margin for Q2 2026 was 57.8%, up from 48% year-over-year; six-month gross margin was 54.6%, up from 49.9%.

• Adjusted EBITDA for Q2 2026 was $2.9M (25.2% of revenue), up from $0.96M; six-month adjusted EBITDA was $4.2M, up $2.3M year-over-year.

• Excluding Australia, Q2 2026 revenue was $5.1M (flat year-over-year), gross margin 65.5% (up from 64.1%), and adjusted EBITDA $1.0M (up 89%).

• Six-month revenue excluding Australia was $10.0M (flat), gross margin 65.3% (up from 64.6%), and adjusted EBITDA $1.7M (up 64%).

Outlook and guidance

• Cost reduction plan is expected to continue improving gross margins, EBITDA, and cash flow for the remainder of 2026 and into 2027.

• Management is focused on organic revenue growth and strategic acquisitions.

• Forward-looking statements highlight expectations for automation, cost optimization, and scalability improvements.