IC Group (ICGH) Q1 2025 earnings summary

Executive summary

• Revenue grew 56% year-over-year to $6.0 million in Q1 2025, driven by organic growth across all divisions.

• Annual Recurring Revenue (ARR) accounted for 68% of total revenue, up from 65% in Q1 2024.

• Completed acquisition of Emotion Media Inc. (Fannex), expanding presence in sports and entertainment.

• Began trading on TSX Venture Exchange and raised $1.2 million through a private placement.

Financial highlights

• Gross profit increased 28% to $2.7 million compared to Q1 2024.

• Adjusted EBITDA was $0.2 million, down from $0.5 million in Q1 2024 due to strategic investments and listing costs.

• Net loss widened to ($2.8 million) from ($0.5 million) in Q1 2024, mainly due to one-time listing and professional fees.

• Cash and cash equivalents rose to $1.8 million from $0.2 million last year, reflecting successful financing.

Outlook and guidance

• Management expects continued growth in 2025, supported by momentum across business units and benefits from recent acquisitions.

• Anticipates elimination of one-time expenses incurred during public listing and integration phase.