The DLC Group Announces Strong 2025 Results with Record Annual Funded Mortgage Volumes of $84.5 billion; Increases Quarterly Dividend

Executive Summary

• Dominion Lending Centres Inc. (DLCG) reported FY 2025 revenue of $96.3 M (+25% YoY) and net income of $24.8 M (vs. a loss in 2024), driven by record funded mortgage volume of $84.5 B (+25%).
• Adjusted EBITDA reached $48.8 M for the year (+36%) with margins expanding to 51%; Q4‑2025 adjusted EBITDA was $14.0 M (53% margin).
• The Board increased the quarterly dividend to $0.05 per share (effective June 2026) and repurchased ~1% of outstanding shares.

Key Details

• Financial Highlights – FY 2025
• Revenue: $96.3 M (+25% YoY) vs. $76.8 M in 2024.
• Adjusted EBITDA: $48.8 M (+36%); margin 51% (up from 47%).
• Net income: $24.8 M (vs. loss of $126.8 M in 2024).
• Adjusted net income: $32.2 M (+198% YoY).

• Free cash flow to common shareholders: $38.8 M (up from $14.9 M).

• Q4‑2025 Highlights

• Revenue: $26.6 M (+19% QoQ).
• Funded mortgage volume Q4: $23.5 B (+20% YoY).
• Adjusted EBITDA: $14.0 M (53% margin, +36%).
• Net income Q4: $1.9 M (vs. loss of $138.8 M in Q4‑2024).

• Dividend paid: $0.04 per share on Dec 15 2025; increased to $0.05 per share for June 2026.

• Operational Metrics

• Funded mortgage volume FY 2025: $84.5 B (+25% YoY).
• Number of brokers: 9,023 (↑4%).
• Franchise locations: 505 (stable).

• Velocity platform adoption: 85% of volumes (up from 73% in 2024).

• Strategic Investments & Acquisitions (FY 2025‑Q1 2026) – $17.3 M total

• Equity investment of $4.5 M in two franchise partners (30% acquisition of Broker Financial Group Inc.; 51% acquisition of Clear Trust Mortgages Inc.).
• Acquisition of 50% interest in Dundarave Management Ltd. for $4.1 M; DML manages Dundarave Mortgage Investment Corp. ($55 M loan portfolio).

• Revised sales‑consultant agreements eliminating legacy trailing commissions, resulting in a one‑time $8.7 M loss on contract settlements (expected to reduce ongoing commission costs).

• Capital Allocation

• Share repurchase: 987,547 shares under NCIB (~1% of outstanding).

• Dividend increase to $0.05 per share (June 2026).

• Liquidity & Leverage

• Adjusted total debt‑to‑EBITDA (TTM) improved to 0.73× from 0.79×.

• Cash flow from operations Q4‑2025: $4.1 M (down 60% YoY due to $8.7 M settlement loss). Adjusted free cash flow Q4‑2025: $11.9 M (+174%).

• Conference Call

• Date/Time: March 24 2026, 4:00 pm MT / 6:00 pm ET.
• Webcast available at https://www.gowebcasting.com/14625 and replay on DLCG website.

Notable Quotes

“Fiscal 2025 was a successful year for the DLC Group, highlighted by strong growth, margin expansion and the continued strengthening of our broker network,” – Gary Mauris, Co‑Founder & CEO.

“We will continue to build on the same strategic pillars… pursuing high‑return acquisitions and strategic investments.” – Gary Mauris.