Caldwell Reports Fourth Quarter and Full Year Results and Increases Dividend

Executive Summary

• Caldwell Partners International Inc. reported a profitable fourth quarter of fiscal 2025 with net earnings of C$1.467 million (C$0.05 per share), a turnaround from a loss in the prior year.
• Revenue grew 44% YoY to C$31.6 million, and consolidated professional fees increased 44% YoY to C$31.4 million.
• The Board announced an increase of the quarterly dividend to C$0.01 per share (300% increase) payable December 19, 2025, and reaffirmed ongoing share repurchases under its NCIB.

Key Details

• Financial Highlights – Quarter Ended Aug 31 2025
• Revenues: C$31,608 k vs C$22,233 k YoY
• Consolidated professional fees: C$31,376 k vs C$22,051 k YoY (+44%)
• Gross profit: C$6,864 k vs C$4,529 k YoY
• Operating profit: C$2,517 k vs C$71 k YoY
• Net earnings (loss) after tax: C$1,467 k vs a loss of C$471 k in Q4 2024
• Basic EPS: C$0.050 vs ‑C$0.016 YoY
• Full‑Year (Fiscal 2025) Highlights
• Total revenues: C$104,057 k vs C$87,151 k YoY (+19%)
• Consolidated professional fees: C$103,255 k vs C$86,312 k YoY (+20%)
• Net earnings after tax: C$2,562 k vs C$4,188 k prior year (down 39% YoY) but still positive.
• Adjusted EPS (non‑GAAP): C$0.089 vs ‑C$0.039 prior year.
• Expenses & Other Items
• SG&A expenses: C$4,347 k (Q4) vs C$4,458 k YoY.
• Other expense (income) Q4: C$112 (primarily separation costs and sublease loss offset by a C$487 ERTC benefit).
• Finance expense: C$118 k (Q4).
• Dividend & Capital Allocation
• Quarterly dividend increased to C$0.01 per common share, payable Dec 19, 2025 to shareholders of record Dec 1, 2025.
• Company will continue Normal Course Issuer Bid (share repurchases) as part of its capital allocation strategy.
• Balance Sheet Highlights (Aug 31 2025)
• Cash & cash equivalents: C$16,436 k (down from C$19,634 k).
• Total assets: C$80,766 k vs C$68,752 k YoY.
• Total equity: C$34,972 k vs C$32,126 k YoY.
• Cash Flow Summary
• Net cash generated from operating activities: C$3,629 k (up from C$1,232 k YoY).
• Net cash used in investing activities: C$(4,832) k.
• Net cash used in financing activities: C$(2,066) k (includes dividend payment of C$222 k).

Notable Quotes

• Chris Beck, CEO: “Fiscal 2025 marked a strong return to growth for Caldwell and IQTalent… we saw a resilient rebound in both revenue and profitability, capped by an especially strong fourth quarter.”
• Beck added: “Across both brands, we're focused on growth, operational efficiency, and a disciplined capital allocation strategy to provide returns to our shareholders.”