VIQ Solutions (VQS) Q4 2025 earnings summary

Executive summary

• Revenue reached $10.6M for Q4 2025 and $41.5M for the year, with gross margins up 7.1% and 4.6% year-over-year, respectively.

• Adjusted EBITDA rose 264% in Q4 and 152% for the year, marking the seventh consecutive quarter of positive Adjusted EBITDA.

• A $304K software license deal was secured in Q4, reflecting customer confidence.

• An insider-led, oversubscribed private placement raised $1.8M in Q4 to fund growth and technology enhancements.

Financial highlights

• Q4 2025 revenue: $10.6M; gross margin: 49.0% (up from 41.9% YoY); Adjusted EBITDA: $1.8M (up 264% YoY).

• FY 2025 revenue: $41.5M (down 4% YoY); gross margin: 49.1% (up from 44.5% YoY); Adjusted EBITDA: $5.0M (up 152% YoY).

• Adjusted operating loss for Q4: $9.3M (vs $3.4M YoY); for FY: $12.8M (vs $6.8M YoY), mainly due to impairment charges.

• Net loss for FY 2025: $13.8M (vs $7.0M YoY).

Outlook and guidance

• Management expects continued progress from leadership changes and productivity improvements, with updates anticipated as the company navigates the administration process in Australia.