VIQ Solutions Announces Transformative Q2 2024: Significant Growth in Adjusted EBITDA

VIQ Solutions Inc. (“VIQ”, “VIQ Solutions” or the “Company”) (TSX: VQS), a global provider of secure, AI-driven, digital voice and video recording technology and transcription services, is pleased to announce its unaudited financial results for the second quarter ended June 30, 2024. Results are reported in U.S. dollars and prepared in accordance with International Financial Reporting Standards (“IFRS”).

“The company delivered a robust Q2 performance, with revenue growth of 10% and gross margin of nearly 46%. Our performance underscores the strong momentum of our key margin drivers globally. The substantial increase in Adjusted EBITDA is the result of strengthening revenue and gross margins related to the company’s transformation to an AI workflow operating platform, and successful streamlining and consolidation of our operations. These drivers have laid the foundation for continued financial improvement as we move into the second half of the year,” said Sebastien Paré, CEO of VIQ Solutions.