Star Metro - AirIQ Announces June 30, 2025 Quarterly Results Company Reports Record Recurring Revenue

Unless otherwise noted herein, all amounts are in thousands of Canadian dollars except share and per share information.

First Quarter and Sequential Highlights (for the three months ended June 30, 2025 compared to June 30, 2024 and March 31, 2025)

• Record recurring revenue of $1,323 increased by 13% or $150 compared to $1,173, and an increase of 8% or $95 compared to $1,228 sequentially.

• Total revenue of $1,422 decreased by 14% or $231 compared to $1,653, and an increase of 8% or $109 compared to $1,313 sequentially.

• Gross profit of $872 decreased by 5% or $49 compared to $921, and an increase of 4% or $31 compared to $841 sequentially.

• Net income of $16 decreased 85% or $91 compared to $107, and a decrease of 59% or $23 compared to $39 sequentially.

"We are proud to announce that we have set another record in recurring revenues, which increased by 13% compared to the prior year and 8% growth over the previous quarter", said Mike Robb, President and Chief Executive Officer of AirIQ. "Our previously announced strategic decision to focus our sales efforts on our rental offerings versus hardware sales has resulted in total revenue being lower than the same period the previous year. The Company's investments in sales, marketing, and product development is expected to drive further recurring revenue growth in future quarters. With a solid recurring revenue base and a clear strategy for growth, we remain confident that we are able to deliver increases in shareholder value", continued Mr. Robb.

All dollar amounts set out herein are in Canadian dollars.

Normal Course Issuer Bid

The Company filed a Notice of Intention to Make a Normal Course Issuer Bid (the "Bid") with the TSX Venture Exchange ("TSXV") commencing June 27, 2024 and ending on June 26, 2025. Pursuant to the Bid, the Company proposed to purchase through the facilities of the TSXV up to 1,468,004 common shares, representing approximately 5% of the then issued and outstanding common shares of the Company. The Company's broker for the Bid is Hampton Securities Limited.

The Company had also announced the renewal of its normal course issuer bid on June 24, 2025, to purchase up to 1,455,829 common shares representing 5% of the Company's then current issued and outstanding common shares through the facilities of the TSXV during the period commencing June 27, 2025 and ending on June 26, 2026 (the "Renewal Bid").

Financial Statements & MDA

The Company's unaudited consolidated condensed interim financial statements include the accounts of AirIQ and its subsidiaries, AirIQ U.S. Holdings, Inc., AirIQ U.S., Inc., and AirIQ, LLC. All inter-company balances and transactions have been eliminated on consolidation.

The Company's unaudited consolidated interim financial statements for the three months ended June 30, 2025 and 2024 including notes thereto, and Management's Discussion and Analysis for the same period are being filed with the Canadian securities regulatory authorities on today's date, and will be available on the Company's website (www.airiq.com) and on the System for Electronic Document Analysis and Retrieval ("SEDAR") website (www.sedarplus.ca). The Company's financial statements include the accounts of AirIQ and its subsidiaries, AirIQ U.S. Holdings, Inc., AirIQ U.S., Inc., and AirIQ, LLC. All inter-company balances and transactions have been eliminated on consolidation.

About AirIQ

AirIQ (TSXV:IQ) was founded in 1997 and is a pioneer in IoT based asset management solutions. AirIQ's solutions allow commercial businesses to reliably, effectively and efficiently monitor assets in near real time. The Company develops iOS and Android mobile and web-based applications, and cloud-based solutions that stand-alone or that can be readily integrated with existing software. AirIQ solutions are mixed fleet capable and provide fleet reporting, maintenance, compliance, safety and analytics utilizing multiple hardware options including a fully integrated video telematics camera solution and a battery powered solution for non-powered assets. For additional information on AirIQ please visit the Company's website at www.airiq.com or follow us on LinkedIn.

Forward-looking Statements

This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as "hope", "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors, which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of such information, future events or otherwise.

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For more information please contact:

AirIQ Inc.,
Michael Robb, President and Chief Executive Officer,
(905) 831-6444
[email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: AirIQ, Inc.

View the original press release on ACCESS Newswire

A.Lavoie--SMC