Sylogist Announces Fourth Quarter and Full Year 2025 Results

Executive Summary

• Sylogist Ltd. reported Q4 2025 and FY 2025 financial results, showing SaaS ARR growth to $33.8 M (up 9% YoY) and total ARR of $45.7 M (up 2% YoY).
• Adjusted EBITDA margin improved to 7.2% in Q4 2025 ($1.0 M) and 14.6% for FY 2025 ($9.1 M), though the company posted net losses of $0.9 M (Q4) and $4.7 M (FY).
• The release announced recent board appointments (Errol Olsen as Chair, Andrew Shen as independent director) and noted an ongoing search for a permanent CEO.

Key Details

• Revenue – Q4 2025 (CAD millions): SaaS Subscription $8.6 (+12.4% YoY), Recurring $11.7 (+6.5% YoY), Total $14.4 (‑6.2% YoY).
• Revenue – FY 2025 (CAD millions): SaaS Subscription $32.5 (+10.6% YoY), Recurring $45.0 (+3.8% YoY), Total $62.2 (‑5.1% YoY).
• SaaS ARR: $33.8 M, up 9% YoY; Total ARR: $45.7 M, up 2% YoY.
• ARR Bookings: Q4 SaaS bookings $0.5 M (up 8.1% YoY); FY SaaS bookings $4.3 M (up 2% YoY).
• Gross Profit Margin: 56% (Q4), 58% (FY).
• Recurring Revenue Share: 81% of total revenue (Q4), 72% (FY).
• Adjusted EBITDA Margin: 7.2% ($1.0 M) Q4; 14.6% ($9.1 M) FY.
• Net Loss: $0.9 M (Q4); $4.7 M (FY).
• SaaS Net Revenue Retention (NRR): 101% for FY 2025.
• Project Services Revenue: Decreased markedly as the company transitioned project work to partners.
• Board Changes: Errol Olsen appointed Board Chair (Feb 2026); Andrew Shen added as independent director (Mar 2026). Search for permanent CEO ongoing.
• Conference Call: March 19, 2026 at 8:30 a.m. ET; dial‑in numbers and webcast link provided.

Notable Quotes

“Adjusting for the reduction in Project Services revenue driven by our transition to partner‑led projects, our Q4 and FY 2025 results… are showing early signs of the progress the Company has made in its transformation to a SaaS business.” – Craig O’Neill, interim CEO

All amounts are expressed in Canadian dollars unless otherwise noted.