Viq Solutions Inc Financials
Viq Solutions Inc (VQSSF) reported $45.8M in revenue for fiscal year 2022, up 47.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue growth has not yet translated into self-funding operations, leaving today's liquidity position dependent on an earlier recapitalization.
The least obvious shift is that FY2020's financing-led cash build lifted cash to$16.8M while long-term debt fell below$241K , so the company briefly looked conservatively financed from new capital rather than from operating strength. But two years of operating and investing outflows pulled cash down to$1.7M by FY2022 even as revenue reached$45.8M , showing that scale returned faster than the business's ability to fund itself.
After FY2021's deep loss, earnings quality improved faster than cash conversion: FY2022 net margin narrowed to
Balance-sheet pressure is mainly short-term rather than debt-driven: current liabilities exceeded current assets by about
Financial Health Signals
We are recalculating Viq Solutions Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Viq Solutions Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Viq Solutions Inc reported a net loss of $8.7M while operations used $2.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Viq Solutions Inc generated $45.8M in revenue in fiscal year 2022. This represents an increase of 47.7% from the prior year.
Viq Solutions Inc reported -$8.7M in net income in fiscal year 2022. This represents an increase of 55.8% from the prior year.
Not reported for fiscal year 2022.
Not reported for fiscal year 2022.
Cash & Balance Sheet
Viq Solutions Inc recorded an outflow of $3.5M in free cash flow in fiscal year 2022, representing a cash shortfall after capex. This represents an increase of 57.5% from the prior year.
Viq Solutions Inc held $1.7M in cash against $719K in long-term debt as of fiscal year 2022.
Not reported for fiscal year 2022.
Margins & Returns
Viq Solutions Inc's net profit margin was -19.0% in fiscal year 2022, showing the share of revenue converted to profit. This is up 44.4 percentage points from the prior year.
Viq Solutions Inc's ROE was -55.6% in fiscal year 2022, measuring profit generated per dollar of shareholder equity. This is up 33.4 percentage points from the prior year.
Not reported for fiscal year 2022.
Not reported for fiscal year 2022.
Capital Allocation
Viq Solutions Inc invested $1.2M in capex in fiscal year 2022, funding long-term assets and infrastructure. This represents an increase of 1418.2% from the prior year.
Not reported for fiscal year 2022.
Not reported for fiscal year 2022.
VQSSF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|
| Revenue | $45.8M+47.7% | $31.0M-2.2% | $31.7M+26.5% | $25.1M |
| Interest Expense | $114K+228.8% | $35K-35.2% | $54K-38.1% | $86K |
| Income Tax | -$610K-164.6% | $944K+200.0% | -$944K-1052.1% | $99K |
| Net Income | -$8.7M+55.8% | -$19.7M-76.6% | -$11.1M-146.3% | -$4.5M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).
VQSSF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|
| Total Assets | $35.5M-26.0% | $48.0M+12.4% | $42.7M+105.7% | $20.8M |
| Current Assets | $9.2M-49.9% | $18.3M-15.4% | $21.6M | N/A |
| Cash & Equivalents | $1.7M-84.3% | $10.6M-37.1% | $16.8M+885.9% | $1.7M |
| Inventory | $38K-23.7% | $50K+0.4% | $49K | N/A |
| Accounts Receivable | $5.3M-5.2% | $5.6M+25.0% | $4.5M+41.2% | $3.2M |
| Goodwill | $12.0M-3.2% | $12.4M+78.3% | $7.0M+62.4% | $4.3M |
| Total Liabilities | $19.9M-23.2% | $25.9M+13.1% | $22.9M+23.6% | $18.6M |
| Current Liabilities | $17.2M+62.1% | $10.6M+24.8% | $8.5M+6.6% | $8.0M |
| Long-Term Debt | $719K-20.2% | $901K+273.8% | $241K-96.3% | $6.5M |
| Total Equity | $15.6M-29.2% | $22.1M+11.6% | $19.8M+795.1% | $2.2M |
| Retained Earnings | -$63.7M-15.8% | -$55.0M-55.7% | -$35.3M | N/A |
VQSSF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|
| Operating Cash Flow | -$2.3M+71.6% | -$8.2M-340.7% | $3.4M+714.1% | -$557K |
| Capital Expenditures | $1.2M+1418.2% | $79K-60.8% | $202K+118.3% | $93K |
| Free Cash Flow | -$3.5M+57.5% | -$8.3M-358.2% | $3.2M+595.5% | -$650K |
| Investing Cash Flow | -$4.1M+71.6% | -$14.4M-117.5% | -$6.6M-272.5% | -$1.8M |
| Financing Cash Flow | -$2.4M-114.4% | $16.5M-9.0% | $18.2M+781.4% | $2.1M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
VQSSF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|
| Net Margin | -19.0%+44.4pp | -63.4%-28.3pp | -35.1%-17.1pp | -18.0% |
| Return on Equity | -55.6%+33.4pp | -89.1%-32.8pp | -56.3%+148.3pp | -204.7% |
| Return on Assets | -24.5%+16.5pp | -41.0%-14.9pp | -26.1%-4.3pp | -21.8% |
| Current Ratio | 0.53-1.2x | 1.73-0.8x | 2.55 | N/A |
| Debt-to-Equity | 0.050.0x | 0.040.0x | 0.01-2.9x | 2.94 |
| FCF Margin | -7.7%+19.1pp | -26.8%-36.9pp | 10.1%+12.7pp | -2.6% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Note: The current ratio is below 1.0 (0.53), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Viq Solutions Inc Ranks
Frequently Asked Questions
What is Viq Solutions Inc's annual revenue?
Viq Solutions Inc (VQSSF) reported $45.8M in total revenue for fiscal year 2022. This represents a 47.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Viq Solutions Inc's revenue growing?
Viq Solutions Inc (VQSSF) revenue grew by 47.7% year-over-year, from $31.0M to $45.8M in fiscal year 2022.
Is Viq Solutions Inc profitable?
No, Viq Solutions Inc (VQSSF) reported a net income of -$8.7M in fiscal year 2022, with a net profit margin of -19.0%.
How much debt does Viq Solutions Inc have?
As of fiscal year 2022, Viq Solutions Inc (VQSSF) had $1.7M in cash and equivalents against $719K in long-term debt.
What is Viq Solutions Inc's net profit margin?
Viq Solutions Inc (VQSSF) had a net profit margin of -19.0% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.
What is Viq Solutions Inc's return on equity (ROE)?
Viq Solutions Inc (VQSSF) has a return on equity of -55.6% for fiscal year 2022, measuring how efficiently the company generates profit from shareholder equity.
What is Viq Solutions Inc's free cash flow?
Viq Solutions Inc (VQSSF) recorded an outflow of $3.5M in free cash flow during fiscal year 2022. This represents a 57.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Viq Solutions Inc's operating cash flow?
Viq Solutions Inc (VQSSF) recorded an outflow of $2.3M in operating cash flow during fiscal year 2022, representing cash used by core business activities.
What are Viq Solutions Inc's total assets?
Viq Solutions Inc (VQSSF) had $35.5M in total assets as of fiscal year 2022, including both current and long-term assets.
What are Viq Solutions Inc's capital expenditures?
Viq Solutions Inc (VQSSF) invested $1.2M in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.
What is Viq Solutions Inc's current ratio?
Viq Solutions Inc (VQSSF) had a current ratio of 0.53 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.
What is Viq Solutions Inc's debt-to-equity ratio?
Viq Solutions Inc (VQSSF) had a debt-to-equity ratio of 0.05 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Viq Solutions Inc's return on assets (ROA)?
Viq Solutions Inc (VQSSF) had a return on assets of -24.5% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.
What is Viq Solutions Inc's cash runway?
Based on fiscal year 2022 data, Viq Solutions Inc (VQSSF) had $1.7M in cash against an annual operating cash burn of $2.3M. This gives an estimated cash runway of approximately 9 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Viq Solutions Inc's Piotroski F-Score?
Viq Solutions Inc (VQSSF) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Viq Solutions Inc's earnings high quality?
Viq Solutions Inc (VQSSF) reported a net loss of $8.7M while operations used $2.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.