Toronto, Ontario--(Newsfile Corp. - August 27, 2025) - IC Group Holdings Inc. (TSXV: ICGH) ("IC Group" or the "Company"), a technology-enabled consumer engagement company that helps global brands drive commerce with consumers, today announced its unaudited financial results for the three and six months ended June 30, 2025. All figures are reported in Canadian dollars unless otherwise stated.
"The second quarter extended our strong start to the year, delivering double-digit revenue and gross profit growth across our business lines while increasing annual recurring revenue to 70% of total revenue. The Company also signed two agreements valued at up to US$7.8 million across 2025 and 2026, inclusive of prizing, in addition to a five-year contract extension with a leading global technology customer that extends our services to 2030," said Duncan McCready, CEO of IC Group. "Our results reflect our commitment to continue to simplify and scale solutions with global clients who rely on us for secure, compliant consumer engagement that drives commerce across digital platforms and in live events."
Q2 2025 Financial Highlights:
- Revenue increased 47% year-over-year to $6.5 million, compared to $4.4 million in Q2 2024.
- Annual Recurring Revenue (ARR) accounted for 70% of total revenue in Q2 2025, up from 61% in Q2 2024.
- Gross profit rose 28% to $3.0 million, compared to $2.3 million in Q2 2024.
- Adjusted EBITDA was $0.2 million, consistent with $0.2 million in Q2 2024.
- Net loss for the quarter was ($0.6 million), compared to ($0.9 million) in Q2 2024.
Q2 Business Segment Highlights:
Digital Promotions
- Revenue increased 26% to $3.0 million from $2.4 million in Q2 2024.
- Gross Margin improved to 69% in Q2 2025, compared to 60% in Q2 2024.
- Growth was driven by increased activity from a major U.S. customer, override rebate revenue from prizing programs and contributions from the Emotion Media Inc. acquisition.
Mobile Messaging
- Revenue grew 107% to $3.2 million, up from $1.5 million in Q2 2024.
- Gross Margin declined to 22% in Q2 2025, compared to 39% in Q2 2024.
- The expected decrease in Gross Margin is driven by a higher proportion of lower margin Mobile Messaging revenue which is reflective of the change in the Mobile Messaging business model to scale more wholesale customers driving higher volume messages at lower margins.
Insurance Solutions
- Revenue decreased 32% to $0.4 million from $0.5 million in Q2 2024.
- Gross Margin improved to 70% in Q2 2025, compared to 61% in Q2 2024.
- Results reflected a softer market, competition and a planned adjustment in product mix, while margins improved to 70% as the Company optimized its take rate on premiums bound.
The unaudited financial statements and management's discussion and analysis (MD&A) for the quarter ended June 30, 2025, are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the IC Group website at www.icgroupinc.com/investor-relations.
Investor Webinar
The Company will host an investor webinar at 9:30 AM EDT (6:30 AM PDT) on Thursday, August 28, 2025, to discuss its financial and business results, as well as its strategic priorities for the remainder of 2025.
IC Group invites shareholders, analysts, investors, media representatives, and other stakeholders to attend the webinar, where Duncan McCready, Chief Executive Officer, and John Penhale, Chief Financial Officer, will review Q2 2025 results, followed by a question-and-answer session.
Investor Webinar Registration
Register here: bit.ly/ICGH-Q2-2025
A recording of the webinar and supporting materials will be made available in the Investor section of the Company's website at: https://www.icgroupinc.com/investor-relations/
Results of Annual General Meeting
The Company's Annual General and Special Meeting of Shareholders (the "Meeting") was held on August 26, 2025. IC Group is pleased to report that shareholders approved all matters presented. At the Meeting, the number of directors was fixed at five (5), and all five nominees were elected to the Board by a majority of votes cast. The results of the election were as follows:
| Name of Nominee | Result |
| Duncan McCready | Elected |
| Marc Caron | Elected |
| C. Fraser Elliott | Elected |
| Jack Schoenmakers | Elected |
| Robert White | Elected |
All other matters considered at the Meeting were also approved by shareholders, including the reappointment of MNP LLP as auditors, approval of the amended stock option plan, amendments to the Corporation's by-laws and the update to the escrow agreement.
About IC Group Holdings Inc.
IC Group (TSXV: ICGH) is transforming how brands engage with audiences across live events. It uses digital and social platforms to drive sales, capture valuable first-party data to fuel ongoing marketing initiatives and build customer loyalty. The Company does this by simplifying and managing the technology, regulatory, data security, and financial risks of engaging with consumer audiences on a global basis. Its solutions span digital engagement, mobile messaging, and specialty insurance for Fortune 500 brands and their agency partners in international jurisdictions.
Neither the 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.
For more information regarding IC Group, please contact:
Duncan McCready
duncan.mccready@icgroupinc.com
(204) 487-5000
Glen Nelson
Investor Relations and Communications
403-763-9797
glen.nelson@icgroupinc.com
Neither the 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.
Non-IFRS Measures
There are measures included in this news release that do not have a standardized meaning under international financial reporting standards (IFRS) and therefore may not be comparable to similarly titled measures and metrics presented by other publicly traded companies. The Company includes these measures because it believes certain investors use them as a means of assessing financial performance. Adjusted EBITDA and Annual Recurring Revenue ("ARR") is a financial measure that does not have a standardized meaning under IFRS. Adjusted EBITDA refers to earnings before interest, taxes, depreciation, amortization, stock-based compensation, one-time transaction expenses and financing costs. ARR refers to the company's expected yearly revenue from recurring transactional, service, license, SaaS or subscription fees.
We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with IFRS. We also disclose and discuss certain non-GAAP (Generally Accepted Accounting Principles) financial information used to evaluate our performance in this and other earnings releases and investor conference calls as a complement to results provided in accordance with IFRS. We believe that current shareholders and potential investors in the Company use non-GAAP financial measures, such as Adjusted EBITDA and ARR, in making investment decisions about the Company and measuring its operational results.
Management believes that investors and financial analysts measure our business on the same basis, and we are providing the Adjusted EBITDA and ARR as financial metrics to assist in this evaluation and to provide a higher level of transparency into how we measure our own business.
Adjusted EBITDA is more fully defined and discussed, and reconciliation to IFRS financial measures is provided, in the Management's Discussion and Analysis ("MD&A").
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the business of IC Group, the Company's ability to offer platforms for brands to connect with consumers, the Company's ability to diversify the Company's revenue base, and the Company's ability to grow IC Digital Promotion Solutions, IC Mobile Messaging Solutions and IC Insurance Solutions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. IC Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264228
SOURCE: IC Group Inc.
