Canada · Delayed Price · Currency is CAD Flow Capital Earnings Call Transcripts
Fiscal Year 2025
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Revenue grew 41% year-over-year to CAD 13.2 million, with recurring free cash flow up 79% and book value per share rising to CAD 1.27. Portfolio IRR remains strong at 24%, though management anticipates slower growth due to industry headwinds and selective deployment.
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Record revenue and strong free cash flow growth were achieved, with portfolio IRR in the mid-20s and book value per share rising. Despite increased competition and a 15% decline in target transactions, the pipeline remains robust and capital is available for future growth.
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Q2 2025 saw record revenue and investment deployment, with revenue up 54% year-over-year and recurring free cash flow up 212%. Book value declined slightly due to FX and credit losses, while the portfolio IRR remains strong above 22%.
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Q1 2025 saw revenue rise 45% year-over-year and recurring free cash flow hit a record CAD 847,000, with strong operating leverage and continued growth in assets and book value. The company deployed CAD 3.2 million in new loans to existing clients.
Fiscal Year 2024
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Record Q4 and 2024 results with strong revenue and free cash flow growth, driven by selective deal-making and operating leverage. Portfolio quality remains high despite some mark-to-market write-downs, and industry trends support continued expansion.
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Q3 2024 saw record revenue and strong recurring cash flow, with assets and capital deployment rising year-over-year. Book value per share dipped due to lower private equity valuations, but operational efficiency and portfolio quality remain high.
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Record recurring revenue and asset growth in Q2 2024, with recurring loan interest income up 28.5% year-over-year and total assets rising 12%. Confident in surpassing a CAD 10 million recurring revenue run rate for the year, supported by a strong investment pipeline.