Voxtur Announces Financial Results for the Q1 2025 – Ended March 31, 2025
- Cost reduction measures and synergies helped maintain stable net loss despite revenue decline
- Operational expense reductions showing positive impact with more benefits expected in Q2 2025
- Strategic review process underway to reduce debt and improve financial stability
- Maintained 60% gross profit margin despite challenges
- Revenue declined by $3.6M (30.2%) year-over-year to $8.31M
- Gross profit decreased by $3M (37.3%) to $4.98M
- Gross profit margin deteriorated from 67% to 60%
- Company planning to sell one business unit due to financial challenges
TORONTO and TAMPA, Fla., May 30, 2025 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) ("Voxtur" or the "Company"), a North American technology company creating a more transparent and accessible real estate lending ecosystem, today announced its financial results for the three months ended March 31, 2025. The Company's Unaudited Condensed Interim Consolidated Financial Statements and the related Management’s Discussion and Analysis (“MD&A”) for the three months ended March 31, 2025, are available at www.sedarplus.ca and at www.voxtur.com.
Financial Results:
| Continuing Operations | Unaudited | |||||
| Three months ended March 31 | ||||||
| (In thousands of Canadian dollars) | 2025 | 2024 | ||||
| Revenue 1 | $ | 8,310 | $ | 11,909 | ||
| Gross profit 1 | 4,981 | 7,940 | ||||
| Gross profit as a % of Revenue 1 | 60 | % | 67 | % | ||
1 Calculations include only the results from continuing operations and do not include results of discontinued operations. As at March 31, 2025, management was committed to a plan to sell one of the Company’s business units. Accordingly, the Company has presented that business unit as a disposal group held for sale and reported its results as discontinued operations.
During the first quarter of 2025, revenue from continuing operations declined approximately
Operational expense reductions initiated earlier this year began to positively impact the quarter, though the full benefit of these initiatives will be more fully realized in the second quarter and throughout the remainder of 2025.
Further discussion with respect to the financial results can be found in the Company’s MD&A available at www.sedarplus.ca and at www.voxtur.com.
Management continues to work in close partnership with the Company’s advisor and in conjunction with the Company’s creditor as part of the strategic review announced earlier this year. The primary objective of this process is to reduce debt and position the Company for long-term financial stability and strength.
“We sincerely appreciate the continued support and patience of all our stakeholders as we navigate this important phase of our journey,” said Ryan Marshall, Voxtur’s CEO. “While we are not yet where we want to be, we are making steady progress, and our focus remains on building a more sustainable and resilient organization.”
The Company intends to host a shareholder call in the near future upon having material updates on the strategic review process and outline the path forward for the business, including other key corporate developments.
About Voxtur
Voxtur is a proptech company. The company offers targeted data analytics to simplify the multifaceted aspects of the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value real estate assets, providing critical due diligence that enables market participants to effectively originate, trade, or service defaults on mortgage loans. As an independent and transparent mortgage technology provider, the company offers primary and secondary market solutions in the United States and Canada. For more information, visit www.voxtur.com.
Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) which reflect the expectations of management regarding the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities. These forward-looking statements reflect management’s current expectations regarding future events and the Company’s financial and operating performance and speak only as of the date of this press release. By their very nature, forward-looking statements require management to make assumptions and involve significant risks and uncertainties, should not be read as guarantees of future events, performance or results, and give rise to the possibility that management’s predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities, including the duration, impact of and recovery from the COVID-19 pandemic, will not occur or be achieved. Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include but is not limited to the anticipated financial performance of the Company and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions, integration of acquired businesses, and implementation of new products; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure, failure to implement technological upgrades, or failure to implement new technological products in accordance with expected timelines; changing market conditions related to defaulted mortgage loans, and the failure of clients to send foreclosure and bankruptcy referrals in volumes similar to those prior to the COVID-19 global pandemic; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company’s dependence on maintaining intellectual property and protecting newly developed intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein. Factors relating to the Company’s financial guidance and targets disclosed in this press release include, in addition to the factors set out above, the degree to which actual future events accord with, or vary from, the expectations of, and assumptions used by, Voxtur's management in preparing the financial guidance and targets.
This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Voxtur's common shares are traded on the TSX Venture Exchange under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
Company Contact:
Jordan Ross
Tel: (416)708-9764
jordan@voxtur.com
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