Brampton, Ontario--(Newsfile Corp. - August 10, 2026) - DATA Communications Management Corp. (TSX: DCM) (OTCQX: DCMDF) ("DCM" or the "Company"), a leading Canadian provider of print and digital solutions that help simplify complex marketing communications and workflow, today reported second quarter 2026 financial results.
"Second quarter results were generally in line with our expectations. While revenue remained slightly below prior year levels, sales activity remained robust, we generated strong cash flow, continued to pay down debt, and completed the highly strategic acquisition of Octacom," said Richard Kellam, President & CEO of DCM.
"As we move through the third quarter and the second half of the year, we are seeing a number of encouraging signs that demonstrate the continued progress of our business. These include: an expected return to positive year-over-year revenue growth; a more favorable business mix contributing to improved gross profit; continued momentum in new business development; and strong free cash flow. These indicators give us increasing confidence in the underlying strength of our business and our ability to build on this momentum as we move forward," added Kellam. "In addition, the Octacom acquisition will deliver enhanced revenue and earnings contributions through the balance of the year."
"The recent acquisition of Octacom is a transformative step in advancing DCM's technology-enabled solutions strategy. By expanding our capabilities in workflow automation, AI-enabled data capture, and digital transformation services, we are strengthening our ability to meet growing market demand for intelligent document and information-processing solutions. The acquisition also provides an opportunity to introduce these high-value, in-demand services to our existing customer base across key industries, accelerating revenue growth, increasing recurring revenues, and delivering a broader, more integrated suite of solutions," added Kellam.
SECOND QUARTER 2026 SUMMARY FINANCIAL RESULTS
Revenues of $110.9 million were down 2.5%, or $2.9 million vs. $113.8 million in Q2 2025
SG&A expenses of $19.7 million and 17.8% of revenues were 0.7% lower, vs. $19.9 million or 17.5% of revenues in Q2 2025
Adjusted EBITDA1 of $14.2 million and 12.8% of revenues, 14.1% lower vs. $16.6 million and 14.6% of revenues in Q2 2025
Total cash generated from operating activities of $22.9 million for the first six months of 2026, compared to $5.9 million in the same period last year
Net debt1 at quarter-end of $64.6 million, down 26.2%, or $22.9 million vs. $87.5 million in Q2 2025 and down 16.3%, or $12.5 million vs. $77.1 million in Q4 2025
Declares quarterly dividend of $0.025 on each common share
OTHER BUSINESS HIGHLIGHTS
Schedule I Bank Selects Octacom-DCM for IDP (Intelligent Document Processing) Solution
On July 22, 2026, DCM announced that it was selected by a Schedule I Canadian bank to develop and launch a comprehensive digital mailroom solution powered by Octacom's proprietary AI-enabled data capture and workflow automation platform. The digital mailroom solution will automate the intake, classification, validation, extraction, and routing of inbound documents across the enterprise, replacing labour-intensive mail handling with an intelligent, end-to-end digital workflow. This will result in faster processing, improved data accuracy, enhanced compliance, and significantly improved visibility into the bank's document management operations.
Strategic Acquisition of Octacom Limited
On July 9, 2026, DCM announced the acquisition of Octacom Limited for aggregate consideration of approximately $54.0 million, consisting of approximately $43.2 million in cash and $10.8 million in DCM common shares. Octacom is a leading Canadian provider of IDP, workflow automation and digital transformation solutions. The acquisition strengthens DCM's position in the fast-growth IDP market, accelerates DCM's revenue shift towards higher-growth, higher-margin, tech-enabled services solutions, and creates meaningful benefits for DCM's clients. The acquisition was financed through borrowings under DCM's amended credit facility.
Amended $160 Million Credit Facility
On July 9, 2026, DCM announced it entered into a fifth amended and restated credit agreement (the "Amended Credit Facility") with a Canadian chartered bank (the "Bank"), which provides for up to $160 million of credit facilities, a portion of which were used to fund the acquisition of Octacom. The Amended Credit Facility currently has a three-year term maturing on July 8, 2029, and includes: (a) a $70 million revolving credit facility, available for working capital and general corporate purposes, which replaces the Company's existing revolving credit facility with the Bank; (b) a $40 million non-revolving term loan used to refinance the Company's outstanding indebtedness with FPD VI; and (c) a $50 million acquisition line. The term loan and acquisition line amortize over a 10-year period.
Dividend Declaration
On August 10, 2026, DCM's board of directors declared a quarterly dividend of $0.025 per common share, payable on September 28, 2026 to shareholders of record at the close of business on September 14, 2026. This dividend is designated as an "eligible" dividend for the purpose of the Income Tax Act (Canada) and any similar provincial legislation.
Q2 2026 EARNINGS CALL DETAILS
The Company will host a conference call and webcast on Tuesday, August 11, 2026 at 9:00 a.m. EST
Richard Kellam, President and CEO, and James Lorimer, CFO, will present the second quarter 2026 results followed by a live Q&A.
Register for the webcast prior to the start of the event: Microsoft Virtual Events Powered by Teams
All attendees must register for the webinar prior to the call. Please complete the phone field in the form at the above link (prior to the start of the event) if you wish to dial in.
The Company's full results will be posted on its Investor Relations page and on SEDAR+.
Footnotes:
1 Adjusted EBITDA, Adjusted EBITDA as a percentage of revenues, Adjusted net income (loss), Adjusted net income (loss) as percentage of revenues, Net debt, Net debt to Adjusted EBITDA and Free cash flow are non-IFRS Accounting Standards measures. For a description of the composition of these and other non-IFRS Accounting Standards measures used in this press release, and a reconciliation to their most comparable IFRS Accounting Standards measure, where applicable, see the information under the heading "Non-IFRS Accounting Standards Measures", the information set forth on Table 2 and Table 3 herein, and our most recent Management Discussion & Analysis filed on SEDAR+.
TABLE 1 The following table sets out selected historical consolidated financial information for the periods noted.
| For the periods ended June 30, 2026 and 2025 | April 1 to June 30, 2026 | April 1 to June 30, 2025 | January 1 to June 30, 2026 | January 1 to June 30, 2025 | ||||||||
(in thousands of Canadian dollars, except share and per share amounts, unaudited) | ||||||||||||
| Revenues | $ | 110,920 | $ | 113,794 | $ | 228,363 | $ | 237,469 | ||||
| Gross profit | 28,206 | 30,508 | 61,356 | 66,768 | ||||||||
| Gross profit, as a percentage of revenues | 25.4 % | 26.8 % | 26.9 % | 28.1 % | ||||||||
| Selling, general and administrative and research and development expenses | 20,804 | 21,087 | 41,747 | 45,666 | ||||||||
| As a percentage of revenues | 18.8 % | 18.5 % | 18.3 % | 19.2 % | ||||||||
| Adjusted EBITDA | 14,227 | 16,568 | 33,318 | 35,156 | ||||||||
| As a percentage of revenues | 12.8 % | 14.6 % | 14.6 % | 14.8 % | ||||||||
| Net income for the period | (894 | ) | 3,714 | 3,895 | 8,828 | |||||||
| Adjusted net income | 1,585 | 3,891 | 7,368 | 9,094 | ||||||||
| As a percentage of revenues | 1.4 % | 3.4 % | 3.2 % | 3.8 % | ||||||||
| Basic earnings per share | $ | (0.02 | ) | $ | 0.07 | $ | 0.07 | $ | 0.16 | |||
| Diluted earnings per share | $ | (0.02 | ) | $ | 0.06 | $ | 0.07 | $ | 0.15 | |||
| Adjusted net income per share, basic | $ | 0.03 | $ | 0.07 | $ | 0.13 | $ | 0.16 | ||||
| Adjusted net income per share, diluted | $ | 0.03 | $ | 0.07 | $ | 0.13 | $ | 0.16 | ||||
| Weighted average number of common shares outstanding, basic | 54,765,458 | 55,317,543 | 55,484,052 | 55,313,271 | ||||||||
| Weighted average number of common shares outstanding, diluted | 54,821,614 | 57,156,673 | 55,542,232 | 57,198,419 |
TABLE 2 The following table provides reconciliations of net income to EBITDA and of net income to Adjusted EBITDA for the periods noted.
EBITDA and Adjusted EBITDA reconciliation
| For the periods ended June 30, 2026 and 2025 | April 1 to June 30, 2026 | April 1 to June 30, 2025 | January 1 to June 30, 2026 | January 1 to June 30, 2025 | ||||||||
(in thousands of Canadian dollars, unaudited) | ||||||||||||
| Net income for the period | $ | (894 | ) | $ | 3,714 | $ | 3,895 | $ | 8,828 | |||
| Interest expense, net | 4,575 | 5,120 | 9,272 | 10,268 | ||||||||
| Debt modification losses and prepayment fees | - | (867 | ) | - | (867 | ) | ||||||
| Amortization of transaction costs | 175 | 131 | 381 | 271 | ||||||||
| Current income tax expense | 411 | 1,445 | 2,696 | 3,516 | ||||||||
| Deferred income tax recovery | (178 | ) | (359 | ) | (1,277 | ) | (1,270 | ) | ||||
| Depreciation of property, plant and equipment | 1,564 | 1,792 | 3,223 | 3,514 | ||||||||
| Amortization of intangible assets | 323 | 326 | 642 | 709 | ||||||||
| Depreciation of the ROU Asset | 4,938 | 5,029 | 9,844 | 9,831 | ||||||||
| EBITDA | $ | 10,914 | $ | 16,331 | $ | 28,676 | $ | 34,800 | ||||
| Acquisition and integration costs | 1,331 | - | 1,331 | - | ||||||||
| Restructuring expenses | 880 | 58 | 2,307 | 58 | ||||||||
| Net fair value losses on financial liabilities at fair value through profit or loss | 1,102 | 179 | 1,004 | 298 | ||||||||
| Adjusted EBITDA | $ | 14,227 | $ | 16,568 | $ | 33,318 | $ | 35,156 |
TABLE 3 The following table provides reconciliations of net income (loss) to Adjusted net income and a presentation of Adjusted net income per share for the periods noted.
Adjusted net income reconciliation
| For the periods ended June 30, 2026 and 2025 | April 1 to June 30, 2026 | April 1 to June 30, 2025 | January 1 to June 30, 2026 | January 1 to June 30, 2025 | ||||||||
| (in thousands of Canadian dollars, except share and per share amounts, unaudited) | ||||||||||||
| Net income for the period | $ | (894 | ) | $ | 3,714 | $ | 3,895 | $ | 8,828 | |||
| Restructuring expenses | 880 | 58 | 2,307 | 58 | ||||||||
| Acquisition and integration costs | 1,331 | - | 1,331 | - | ||||||||
| Net fair value losses on financial liabilities at fair value through profit or loss | 1,102 | 179 | 1,004 | 298 | ||||||||
| Tax effect of the above adjustments | (834 | ) | (60 | ) | (1,169 | ) | (90 | ) | ||||
| Adjusted net income | $ | 1,585 | $ | 3,891 | $ | 7,368 | $ | 9,094 |
About DATA Communications Management Corp.
DCM is a leading Canadian tech-enabled provider of print and digital solutions that help simplify complex marketing communications and operations workflow. DCM serves over 2,500 clients including 70 of the 100 largest Canadian corporations and leading government agencies. Our core strength lies in delivering individualized services to our clients that simplify their communications, including customized printing, highly personalized marketing communications, campaign management, digital signage, and digital asset management. From omnichannel marketing campaigns to large-scale print and digital workflows, our goal is to make complex tasks surprisingly simple, allowing our clients to focus on what they do best.
Additional information relating to DATA Communications Management Corp. is available on www.datacm.com, and in the disclosure documents filed by DATA Communications Management Corp. on SEDAR+ at www.sedarplus.ca.
For further information, contact
| Mr. Richard Kellam | Mr. James E. Lorimer |
| President and Chief Executive Officer | Chief Financial Officer |
| Tel: (905) 791-3151 | Tel: (905) 791-3151 |
| ir@datacm.com |
FORWARD-LOOKING STATEMENTS
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Forward-looking statements in this press release reflect DCM's current views regarding future events and operating performance, are based on information currently available to DCM, and speak only as of the date of this press release. In addition, 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 reliance on such information may not be appropriate for other purposes.
These forward-looking statements involve a number of risks, uncertainties, and assumptions, many of which are beyond the Company's control. They should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Many factors could cause the actual results, performance, objectives or achievements of DCM to be materially different from any future results, performance, objectives or achievements that may be expressed or implied by such forward-looking statements. We caution readers of this press release not to place undue reliance on DCM's forward-looking statements since a number of factors could cause actual future results, conditions, actions, or events to differ materially from the targets, expectations, estimates or intentions expressed in these forward-looking statements.
The principal factors, assumptions and risks that DCM made or took into account in the preparation of these forward-looking statements and which could cause DCM's actual results and financial condition to differ materially from those indicated in the forward-looking statements, include those described in further detail in the Company's most recent Annual Information Form of DCM for the year ended December 31, 2025, a copy of which is available on SEDAR+ at www.sedarplus.ca, and include but are not limited to the following: DCM's ability to realize the anticipated financial and strategic benefits from the acquisition of Octacom, including client and customer retention, the ability of DCM to continue to realize on Octacom's historical revenue growth rates and profitability levels in the future; DCM's ability to capitalize on the forecast growth in the IDP market and DCM's ability to compete in this market, which contains competitors that may be larger and better capitalized than DCM; the ability of DCM to integrate the business and operations of Octacom into DCM; the ability of DCM to obtain additional capital to fund our business plans on satisfactory terms (or at all), including, without limitation, with respect to accelerating growth and investments in digital innovation; the ability of the Bank to syndicate the Amended Credit Facility on the terms agreed to with the Company; the continued availability of the Amended Credit Facility; the acceptability by the Company of any required adjustments to the Amended Credit Facility; DCM's ability to comply with the financial covenants in the Amended Credit Facility or to obtain financial covenant waivers from our lenders if necessary; the ability of DCM to continue with the Company's current dividend policy; the outstanding indebtedness under our bank credit facility is subject to adjustment and floating interest rates and therefore is subject to fluctuations in interest rates, an increase in which would increase our borrowing costs; industry conditions are influenced by numerous factors over which the Company has no control, including: declines in print consumption; labour disruptions at suppliers and customers, including Canada Post; the impact of tariffs and responses thereto (including by governments, trade partners and customers), which may include, without limitation, retaliatory tariffs, export taxes, restrictions on exports to the U.S. or other measures, increases in our input costs, and the effect of governmental regulations and policies in general; our ability to achieve and meet our financial objectives and targets for 2026 and in the future; and DCM's ability to retain key personnel, including those at Octacom. Forward-looking statements reflect DCM's current views regarding future events and operating performance, are based on information currently available to management of DCM, and speak only as of the date of this press release.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated, or expected. Unless required by applicable securities law, DCM does not intend and does not assume any obligation to update these forward-looking statements.
NON-IFRS ACCOUNTING STANDARDS MEASURES
NON-IFRS ACCOUNTING STANDARDS AND OTHER FINANCIAL MEASURES
This press release includes certain non-IFRS Accounting Standards measures, ratios and other financial measures as supplementary information. This supplementary information does not represent earnings measures recognized by IFRS Accounting Standards and does not have any standardized meanings prescribed by IFRS Accounting Standards. Therefore, these non-IFRS Accounting Standards measures, ratios and other financial measures are unlikely to be comparable to similar measures presented by other issuers. Investors are cautioned that this supplementary information should not be construed as alternatives to net income (loss) determined in accordance with IFRS Accounting Standards as an indicator of DCM's performance. Definitions of such supplementary information, together with a reconciliation of net income (loss) to such supplementary financial measures, can be found in our most recent annual and interim Management Discussion and Analysis and filed on SEDAR+ at www.sedarplus.ca.
| Condensed interim consolidated statements of financial position | ||||||
| (in thousands of Canadian dollars, unaudited) | June 30, 2026 | December 31,2025 | ||||
| $ | $ | |||||
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 2,656 | $ | 1,941 | ||
| Trade receivables | 93,032 | 95,745 | ||||
| Inventories | 23,587 | 19,272 | ||||
| Prepaid expenses and other current assets | 5,471 | 4,899 | ||||
| Income taxes receivable | 452 | 245 | ||||
| 125,198 | 122,102 | |||||
| Non-current assets | ||||||
| Other non-current assets | 1,813 | 2,068 | ||||
| Deferred income tax assets | 8,232 | 9,180 | ||||
| Property, plant, and equipment | 30,852 | 32,045 | ||||
| Right-of-use assets | 150,889 | 158,452 | ||||
| Pension assets | 11,471 | 4,269 | ||||
| Intangible assets | 6,570 | 7,072 | ||||
| Goodwill | 22,747 | 22,747 | ||||
| $ | 357,772 | $ | 357,935 | |||
| Liabilities | ||||||
| Current liabilities | ||||||
| Trade payables and accrued liabilities | $ | 52,847 | $ | 43,822 | ||
| Dividend payable | — | — | ||||
| Current portion of credit facilities | 11,071 | 11,856 | ||||
| Current portion of lease liabilities | 12,672 | 12,228 | ||||
| Provisions | 2,432 | 2,350 | ||||
| Income taxes payable | — | — | ||||
| Deferred revenue | 3,815 | 3,918 | ||||
| 82,837 | 74,174 | |||||
| Non-current liabilities | ||||||
| Provisions | 42 | 215 | ||||
| Credit facilities | 54,779 | 65,470 | ||||
| Lease liabilities | 160,521 | 163,982 | ||||
| Pension obligations | 10,119 | 11,862 | ||||
| Other post-employment benefit plans | 1,129 | 1,268 | ||||
| Asset retirement obligation | 3,519 | 3,548 | ||||
| $ | 312,946 | $ | 320,519 | |||
| Equity | ||||||
| Shareholders' equity | ||||||
| Shares | 285,847 | $ | 284,206 | |||
| Contributed surplus | 743 | 2,806 | ||||
| Translation Reserve | 293 | 192 | ||||
| Deficit | (242,057 | ) | (249,788 | ) | ||
| $ | 44,826 | $ | 37,416 | |||
| $ | 357,772 | $ | 357,935 | |||
| Condensed interim consolidated statements of operations | ||||||||||||
| (in thousands of Canadian dollars, except per share amounts, unaudited) | For the three months ended June 30, 2026 | For the three months ended June 30, 2025 | For the six months ended June 30, 2026 | For the six months ended June 30, 2025 | ||||||||
| $ | $ | $ | $ | |||||||||
| Revenues | $ | 110,920 | $ | 113,794 | $ | 228,363 | $ | 237,469 | ||||
| Cost of revenues | 82,714 | 83,286 | 167,007 | 170,701 | ||||||||
| Gross profit | 28,206 | 30,508 | 61,356 | 66,768 | ||||||||
| Expenses | ||||||||||||
| Selling, commissions and expenses | 9,752 | 9,649 | 20,177 | 20,609 | ||||||||
| General and administration expenses | 9,972 | 10,222 | 19,390 | 22,721 | ||||||||
| Research and development expenses | 1,080 | 1,216 | 2,180 | 2,336 | ||||||||
| Restructuring expenses | 880 | 58 | 2,307 | 58 | ||||||||
| Acquisition and integration costs | 1,331 | — | 1,331 | — | ||||||||
| Net fair value losses on financial liabilities at fair value through profit or loss | 1,102 | 179 | 1,004 | 298 | ||||||||
| 24,117 | 21,324 | 46,389 | 46,022 | |||||||||
| Income before finance costs and income taxes | 4,089 | 9,184 | 14,967 | 20,746 | ||||||||
| Finance costs | ||||||||||||
| Interest expense on long term debt and pensions, net | 1,374 | 1,837 | 2,810 | 3,708 | ||||||||
| Interest expense on lease liabilities | 3,201 | 3,283 | 6,462 | 6,560 | ||||||||
| Debt modification losses and prepayment fees | — | (867 | ) | — | (867 | ) | ||||||
| Amortization of transaction costs | 175 | 131 | 381 | 271 | ||||||||
| 4,750 | 4,384 | 9,653 | 9,672 | |||||||||
| Income before income taxes | (661 | ) | 4,800 | 5,314 | 11,074 | |||||||
| Income tax expense | ||||||||||||
| Current | 411 | 1,445 | 2,696 | 3,516 | ||||||||
| Deferred | (178 | ) | (359 | ) | (1,277 | ) | (1,270 | ) | ||||
| 233 | 1,086 | 1,419 | 2,246 | |||||||||
| Net (loss) income for the period | $ | (894 | ) | $ | 3,714 | $ | 3,895 | $ | 8,828 | |||
| Other comprehensive income: | ||||||||||||
| Items that may be reclassified subsequently to net income | ||||||||||||
| Foreign currency translation | 49 | (110 | ) | 101 | (115 | ) | ||||||
| 49 | (110 | ) | 101 | (115 | ) | |||||||
| Items that will not be reclassified to net income | ||||||||||||
| Re-measurements of pension and other post-employment benefit obligations | 7,898 | 1,816 | 8,884 | 1,431 | ||||||||
| Taxes related to pension and other post-employment benefit adjustment above | (1,988 | ) | (461 | ) | (2,238 | ) | (363 | ) | ||||
| 5,910 | 1,355 | 6,646 | 1,068 | |||||||||
| Other comprehensive income for the period, net of tax | $ | 5,959 | $ | 1,245 | $ | 6,747 | $ | 953 | ||||
| Comprehensive income for the period | $ | 5,065 | $ | 4,959 | $ | 10,642 | $ | 9,781 | ||||
| Basic earnings per share | (0.02 | ) | 0.07 | 0.07 | 0.16 | |||||||
| Diluted earnings per share | (0.02 | ) | 0.06 | 0.07 | 0.15 | |||||||
| Condensed interim consolidated statements of cash flows | ||||||
| (in thousands of Canadian dollars, unaudited) | For the six months ended June 30, 2026 | For the six months ended June 30, 2025 | ||||
| $ | $ | |||||
| Cash provided by | ||||||
| Operating activities | ||||||
| Net income for the period | $ | 3,895 | $ | 8,828 | ||
| Items not affecting cash | ||||||
| Depreciation of property, plant, and equipment | 3,223 | 3,514 | ||||
| Amortization of intangible assets | 642 | 709 | ||||
| Depreciation of right-of-use assets | 9,844 | 9,831 | ||||
| Share-based compensation expense | 121 | 89 | ||||
| Net fair value losses on financial liabilities at fair value through profit or loss | 1,004 | 298 | ||||
| Pension expense | 572 | 742 | ||||
| Gain on disposal of property, plant, and equipment | 64 | — | ||||
| Provisions | 2,307 | 58 | ||||
| Debt modification losses (gain) | — | (867 | ) | |||
| Amortization of transaction costs | 381 | 271 | ||||
| Accretion of asset retirement obligations | 58 | 54 | ||||
| Other post-employment benefit plans expense | 119 | 87 | ||||
| Income tax expense | 1,419 | 2,246 | ||||
| Changes in non cash working capital | 5,535 | (12,173 | ) | |||
| Contributions made to pension plans | (632 | ) | (675 | ) | ||
| Contributions made to other post-employment benefit plans | (258 | ) | (189 | ) | ||
| Provisions paid | (2,398 | ) | (5,460 | ) | ||
| Settlement of Asset Retirement Obligation | (87 | ) | — | |||
| Income taxes (paid) received | (2,903 | ) | (1,448 | ) | ||
| Total cash (used in) generated from operating activities | 22,906 | 5,915 | ||||
| Investing activities | ||||||
| Proceeds on sale and leaseback transaction | — | 6,694 | ||||
| Purchase of property, plant, and equipment | (2,094 | ) | (2,536 | ) | ||
| Purchase of intangible assets | (140 | ) | (23 | ) | ||
| Purchase of non-current assets | — | (143 | ) | |||
| Total cash provided by investing activities | (2,234 | ) | 3,992 | |||
| Financing activities | ||||||
| Proceeds from credit facilities | 35,500 | 53,733 | ||||
| Repayment of credit facilities | (47,357 | ) | (48,054 | ) | ||
| Decrease in bank overdrafts | — | (880 | ) | |||
| Transaction costs | — | (417 | ) | |||
| Dividends paid | (2,810 | ) | (13,829 | ) | ||
| Principal portion of lease payments | (5,135 | ) | (4,005 | ) | ||
| Repurchases of shares | (543 | ) | (213 | ) | ||
| Total cash (used in) financing activities | (20,345 | ) | (13,665 | ) | ||
| Change in cash and cash equivalents during the period | 327 | (3,758 | ) | |||
| Effects of foreign exchange on cash balances | 104 | (128 | ) | |||
| January 1, 2026 opening balance prior to restatement for IFRS 9 amendments | 1,941 | — | ||||
| Adjustment on adoption of IFRS 9 amendments for 2025 outstanding cheques on January 1, 2026 (note 3) | 284 | — | ||||
| Cash and cash equivalents - beginning of period | 2,225 | 6,773 | ||||
| Cash and cash equivalents - end of period | $ | 2,656 | $ | 2,887 | ||
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309068