Toronto, Ontario--(Newsfile Corp. - May 27, 2026) - IC Group Holdings Inc. (TSXV: ICGH) ("IC Group" or the "Company"), a consumer engagement company driving commerce and data for global brands and professional sports teams, is pleased to announce its unaudited financial results for the three months ended March 31, 2026. All figures are reported in Canadian dollars unless otherwise stated.
"IC Group delivered a good start to 2026, with strong organic growth and expanding recurring revenue highlighting continued product-market fit and trust by our customers," said Duncan McCready, CEO of IC Group Holdings Inc. "We are leveraging this momentum to continue scaling our platforms across each of our key business segments."
Select Q1 2026 Highlights:
Revenue for the first quarter of 2026 was $7.8 million, up 29% from $6.0 million in the same period of 2025. Approximately 86% of revenue growth during the quarter was driven organically across the Company's operating divisions.
Annual Recurring Revenue ("ARR") remained stable at approximately 68% of total revenue in the first quarter of 2026.
Gross Profit for the first quarter of 2026 was $3.3 million, up 22% from $2.7 million in the same period of 2025.
Gross Margin for the first quarter of 2026 was 43%, compared to 45% in the same period of 2025. The expected decrease was a result of a small compression in margins across all business lines, while driving higher revenue and gross profits in the two primary segments, IC Engage and IC Mobile.
Net loss for the first quarter of 2026 improved to $(0.33) million, compared to a net loss of $(2.09) million in the same period of 2025, when the company incurred significant non-recurring transactional expenses.
EBITDA for the first quarter of 2026 improved to $0.40 million, compared to EBITDA of $(1.61) million in the same period last year.
Adjusted EBITDA for the first quarter of 2026 was $0.67 million, up 300% from $0.17 million in the same period of 2025.
During the quarter, the Company completed a shareholder debt conversion transaction totaling $175,000 and further extended repayment terms on the remaining $225,000 of shareholder debt to March 31, 2027, enhancing near-term balance sheet flexibility.
Q1 2026 Segment Highlights:
IC Engage
Revenue increased 36% year-over-year to $3.7 million during the first quarter of 2026.
Gross Margin was approximately 66% in the first quarter of 2026, reflecting the continued contribution of higher-margin enterprise digital promotions and SaaS-related engagement revenue.
Approximately 81% of IC Engage's revenue growth was organic, with the remaining 19% attributable to the continued integration of the Fannex platform.
IC Mobile
Revenue increased 27% year-over-year to $3.6 million during the first quarter of 2026 driven entirely by organic increases in enterprise and wholesale messaging volumes.
Gross Margin was approximately 17% in the first quarter of 2026, compared to higher historical levels, reflecting continued growth in lower-margin wholesale messaging traffic as overall platform volumes scaled.
The Company continued to invest in messaging infrastructure and next-generation messaging capabilities, including MMS and Rich Communication Services / Rich Business Messaging (RCS/RBM).
IC Insurance
Revenue remained consistent at $0.46 million year-over-year during the first quarter of 2026.
Gross Margin was approximately 56% in the first quarter of 2026, supported by stable underwriting performance and recurring specialty insurance program activity.
The Company continued to expand underwriting capabilities and delegated authority relationships supporting the sports and entertainment sectors.
The Company's unaudited condensed interim consolidated financial statements and management's discussion and analysis (MD&A) for the three months ended March 31, 2026 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 10:00 AM ET (7:00 AM PT) on Thursday, May 28, 2026, to discuss its financial and business results, as well as its strategic priorities for the remainder of 2026.
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 Q1 2026 results, followed by a question-and-answer session.
Investor Webinar Registration
Register here: https://bit.ly/ICGH-Q1-2026
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/
About IC Group Holdings Inc.
IC Group (TSXV: ICGH) is a consumer engagement company driving commerce and data for global brands and professional sports teams across live events, digital ecosystems, and mobile channels. Operating at the intersection of marketing, technology, and commerce, we simplify the complexities of modern consumer engagement for customers on a global scale.
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/299115
Source: IC Group Holdings Inc.
