Viq Solutions Inc Financials
This page shows Viq Solutions Inc (VQSSF) financial statements, including the 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
Based on FY2022 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Viq Solutions Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Viq Solutions Inc's revenue surged 47.7% year-over-year to $45.8M, reflecting rapid business expansion. This strong growth earns a score of 67/100.
Viq Solutions Inc carries a low D/E ratio of 0.05, meaning only $0.05 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Viq Solutions Inc's current ratio of 0.53 is below the typical benchmark, resulting in a score of 5/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Viq Solutions Inc generated -$2.3M in operating cash flow, capex of $1.2M consumed most of it, leaving -$3.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Viq Solutions Inc generates a -55.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -89.1% the prior year.
Viq Solutions Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Viq Solutions Inc generates $0.27 in operating cash flow (-$2.3M OCF vs -$8.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
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.
Cash & Balance Sheet
Viq Solutions Inc generated -$3.5M in free cash flow in fiscal year 2022, representing cash available 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.
Viq Solutions Inc had 35M shares outstanding in fiscal year 2022. This represents an increase of 16.0% from the prior year.
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.
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.
VQSSF Income Statement
| Metric | Q4'22 | Q4'21 | Q4'20 | Q4'19 |
|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A |
VQSSF Balance Sheet
| Metric | Q4'22 | Q4'21 | Q4'20 | Q4'19 |
|---|---|---|---|---|
| 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
| Metric | Q4'22 | Q4'21 | Q4'20 | Q4'19 |
|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A |
VQSSF Financial Ratios
| Metric | Q4'22 | Q4'21 | Q4'20 | Q4'19 |
|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A | N/A |
| Current Ratio | 0.53-1.2 | 1.73-0.8 | 2.55 | N/A |
| Debt-to-Equity | 0.050.0 | 0.04+0.0 | 0.01-2.9 | 2.94 |
| FCF Margin | N/A | N/A | N/A | N/A |
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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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) generated -$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) generated -$2.3M in operating cash flow during fiscal year 2022, representing cash generated from 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 9, indicating weak financial health. 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) has an earnings quality ratio of 0.27x, considered low quality (accrual-driven). 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.
How financially healthy is Viq Solutions Inc?
Viq Solutions Inc (VQSSF) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.