VIQ Solutions Inc. (VQSSF) Q2 2025 Earnings Conference Call Transcript

VIQ Solutions Inc. (OTCPK:VQSSF) Q2 2025 Earnings Conference August 14, 2025 11:00 AM ET

Company Participants

Alexie Edwards – Chief Financial Officer
Audrey Liu – Corporate Participant

Operator

Good day, ladies and gentlemen, and welcome to the VIQ Solutions 2025 Second Quarter Earnings Conference Call. [Operator Instructions] Your host for today is Audrey Liu, Corporate Finance Controller for VIQ. Please go ahead.

Audrey Liu

Thank you. Before we begin, please note that certain statements made on today’s call are forward-looking within the meaning of applicable securities laws. These statements involve risks and uncertainties that may cause actual results to differ materially. Please refer to the forward-looking statements section in our press release and the company’s filings on sedarplus.ca. As a reminder, all dollar amounts are in U.S. dollars unless otherwise stated.

With us today is Alexie Edwards, Chief Financial Officer. With that, I will now turn the call over to Alexie.

Alexie Edwards

Thank you, Audrey, and good morning, everyone. We entered 2025 with sustained momentum following our record fiscal 2024, during which we delivered a $6 million year-over-year improvement in adjusted EBITDA and expanded gross margin. That trajectory continued through the first half of 2025, fueled by disciplined execution of our automation-first strategy, operational efficiencies and growing adoption of our AI-powered SaaS solutions.

Q2 ’25 marked our fifth consecutive quarter of positive adjusted EBITDA, approximately $1 million, up 24% year-over-year and gross margin expansion to 48%, compared to 45.5% in Q2 2024. For the first half of the year, gross margin was nearly 50%, up from 44.9% in the same period last year, demonstrating scalability and operating leverage of our AI-driven platform.

Strategically, Q2 also marked a milestone in SaaS adoption. In June, we signed our largest SaaS contract to date. The new deployment will see VIQ’s NetScribe platform implemented across 9 judicial