VIQ Solutions (VQSSF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 29, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the filing for FY2022, filed Apr 13, 2023. Each column of the statement tables below links to the filing it was taken from.
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.
Revenue growth is reaching gross profit, but cash generation remains negative while obligations have shifted toward the short term.
The earnings-to-cash gap is the key pattern: the net-loss margin improved from-63.4% in FY2021 to-19.0% in FY2022. Yet operating cash flow was-$2.3M in FY2022 versus$3.4M in FY2020, indicating that the accounting improvement has not translated into consistently positive operating cash.
FY2022 revenue grew
The working-capital squeeze is more important than the low-debt headline: current assets fell
Financial Health Signals
We do not publish a peer-relative financial health score for VIQ Solutions Inc, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
VIQ Solutions Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
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 a net loss of $8.7M in fiscal year 2022. The change from the prior year is not meaningful, because that figure was zero or negative.
VIQ Solutions Inc earned -$0.28 per diluted share (EPS) in fiscal year 2022. The change from the prior year is not meaningful, because that figure was zero or negative.
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. The change from the prior year is not meaningful, because that figure was zero or negative.
VIQ Solutions Inc held $1.7M in cash against $20K in long-term debt as of fiscal year 2022, with $17.2M of liabilities due within a year.
Not reported for fiscal year 2022.
Margins & Returns
VIQ Solutions Inc's gross margin was 47.8% in fiscal year 2022, indicating the percentage of revenue retained after direct costs. This is down 0.2 percentage points from the prior year.
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.
Capital Allocation
VIQ Solutions Inc invested $734K in research and development in fiscal year 2022. This represents a decrease of 32.8% from the prior year.
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.
VQSSF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY22Filing | FY21Filing | FY20Filing | FY19Filing |
|---|---|---|---|---|
| Revenue | $45.8M+47.7% | $31.0M-2.2% | $31.7M+26.5% | $25.1M |
| Cost of Revenue | $23.9M+48.3% | $16.1M+3.4% | $15.6M+9.3% | $14.3M |
| Gross Profit | $21.9M+46.9% | $14.9M-7.6% | $16.2M+49.3% | $10.8M |
| R&D Expenses | $734K-32.8% | $1.1M+1.7% | $1.1M+8.0% | $995K |
| Operating Income | N/A | N/A | $10K | N/A |
| Interest Expense | $1.1M-20.9% | $1.3M-73.0% | $4.9M+218.4% | $1.5M |
| Income Tax | -$610K-164.6% | $944Kn/m | -$944K-1052.1% | $99K |
| Net Income | -$8.7Mn/m | -$19.7Mn/m | -$11.1Mn/m | -$4.5M |
| EPS (Basic) | -$0.28n/m | -$0.74n/m | -$0.62 | -$0.46 |
| EPS (Diluted) | -$0.28n/m | -$0.74n/m | -$0.62 | -$0.46 |
| Diluted Shares (Avg) | 32M+19.7% | 26M+46.3% | 18M | 10M |
Not reported in any period shown, so not listed: SG&A Expenses, EBITDA.
VQSSF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY22Filing | FY21Filing | FY20Filing | FY19Filing |
|---|---|---|---|---|
| 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 |
| Non-Current Liabilities | $2.7M-82.2% | $15.3M+6.1% | $14.4M+36.3% | $10.6M |
| Long-Term Debt | $20K-99.8% | $12.0M-1.2% | $12.1M+59.5% | $7.6M |
| Total Equity | $15.6M-29.2% | $22.1M+11.6% | $19.8M+795.1% | $2.2M |
| Retained Earnings | -$63.7Mn/m | -$55.0Mn/m | -$35.3M | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY22Filing | FY21Filing | FY20Filing | FY19Filing |
|---|---|---|---|---|
| Operating Cash Flow | -$2.3Mn/m | -$8.2M-340.7% | $3.4Mn/m | -$557K |
| Capital Expenditures | $1.2M+1418.2% | $79K-60.8% | $202K+118.3% | $93K |
| Free Cash Flow | -$3.5Mn/m | -$8.3M-358.2% | $3.2Mn/m | -$650K |
| Investing Cash Flow | -$4.1Mn/m | -$14.4Mn/m | -$6.6Mn/m | -$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: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid, Share Buybacks.
VQSSF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY22Filing | FY21Filing | FY20Filing | FY19Filing |
|---|---|---|---|---|
| Gross Margin | 47.8%-0.2pp | 48.1%-2.8pp | 50.9%+7.8pp | 43.1% |
| Operating Margin | N/A | N/A | 0.0% | N/A |
| 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 | 0.00-0.5x | 0.54-0.1x | 0.61-2.8x | 3.44 |
| Liabilities-to-Equity | 1.27+0.1x | 1.170.0x | 1.16-7.2x | 8.40 |
| Asset Turnover | 1.29+0.6x | 0.65-0.1x | 0.74-0.5x | 1.21 |
| FCF Margin | -7.7%+19.1pp | -26.8%-36.9pp | 10.1%+12.7pp | -2.6% |
Note: The current ratio is below 1.0 (0.53), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where VIQ Solutions Inc Ranks
Frequently Asked Questions
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.
VIQ Solutions Inc (VQSSF) revenue grew by 47.7% year-over-year, from $31.0M to $45.8M in fiscal year 2022.
No, VIQ Solutions Inc (VQSSF) reported a net loss of $8.7M in fiscal year 2022, with a net profit margin of -19.0%.
As of fiscal year 2022, VIQ Solutions Inc (VQSSF) had $1.7M in cash and equivalents against $20K in long-term debt.
VIQ Solutions Inc (VQSSF) had a gross margin of 47.8% in fiscal year 2022, indicating the percentage of revenue retained after direct costs of goods sold.
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.
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.
VIQ Solutions Inc (VQSSF) recorded an outflow of $3.5M in free cash flow during fiscal year 2022. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
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.
VIQ Solutions Inc (VQSSF) had $35.5M in total assets as of fiscal year 2022, including both current and long-term assets.
VIQ Solutions Inc (VQSSF) invested $1.2M in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.
VIQ Solutions Inc (VQSSF) invested $734K in research and development during fiscal year 2022.
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.
VIQ Solutions Inc (VQSSF) had a debt-to-equity ratio of 0.00 as of fiscal year 2022. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
VIQ Solutions Inc (VQSSF) had a liabilities-to-equity ratio of 1.27 as of fiscal year 2022, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
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.
VIQ Solutions Inc (VQSSF) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2022). The market capitalization is $4.2M as of Oct 29, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
VIQ Solutions Inc (VQSSF) trades at 0.1x sales, its market capitalization divided by $45.8M revenue, FY2022. The market capitalization is $4.2M as of Oct 29, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
VIQ Solutions Inc (VQSSF) has a Piotroski F-Score of 4 out of 9, indicating neutral 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.
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.