AirIQ Announces June 30, 2025 Quarterly Results Company Reports Record Recurring Revenue

Executive Summary

• AirIQ Inc. reported financial results for the first quarter ended June 30, 2025, highlighting a new record in recurring revenue despite a decline in total revenue and net income.
• The company noted a strategic shift in sales focus toward rental offerings rather than hardware sales, which contributed to lower total revenue year-over-year, while recurring revenue grew 13% year-over-year and 8% sequentially.
• The release also details the completion of a Normal Course Issuer Bid (NCIB) and the announcement of a renewal for a new NCIB period.

Key Details

• Recurring Revenue: Reported a record $1,323,000 CAD, representing a 13% increase ($150,000) compared to $1,173,000 CAD in the same period of 2024, and an 8% increase ($95,000) compared to $1,228,000 CAD in the previous quarter (March 31, 2025).
• Total Revenue: Reported $1,422,000 CAD, a decrease of 14% ($231,000) compared to $1,653,000 CAD in Q1 2024, but an increase of 8% ($109,000) compared to $1,313,000 CAD in Q4 2024.
• Gross Profit: Reported $872,000 CAD, a decrease of 5% ($49,000) compared to $921,000 CAD in Q1 2024, and an increase of 4% ($31,000) compared to $841,000 CAD in Q4 2024.
• Net Income: Reported $16,000 CAD, a significant decrease of 85% ($91,000) compared to $107,000 CAD in Q1 2024, and a decrease of 59% ($23,000) compared to $39,000 CAD in Q4 2024.
• Strategic Context: Management attributed the lower total revenue to a strategic decision to focus sales efforts on rental offerings rather than hardware sales, aiming to drive future recurring revenue growth through investments in sales, marketing, and product development.
• Normal Course Issuer Bid (NCIB): The company filed a Notice of Intention for a new NCIB on June 24, 2025, to purchase up to 1,455,829 common shares (approximately 5% of issued and outstanding shares) through the TSX Venture Exchange. This bid is effective from June 27, 2025, to June 26, 2026. This follows the completion of the previous bid period which ended on June 26, 2025, allowing for the purchase of up to 1,468,004 common shares.
• Financial Statements: Unaudited consolidated interim financial statements and Management’s Discussion and Analysis (MDA) for the three months ended June 30, 2025, were filed with Canadian securities regulators and are available on SEDAR and the company website.

Notable Quotes

• "We are proud to announce that we have set another record in recurring revenues, which increased by 13% compared to the prior year and 8% growth over the previous quarter", said Mike Robb, President and Chief Executive Officer of AirIQ.
• "Our previously announced strategic decision to focus our sales efforts on our rental offerings versus hardware sales has resulted in total revenue being lower than the same period the previous year. The Company's investments in sales, marketing, and product development is expected to drive further recurring revenue growth in future quarters. With a solid recurring revenue base and a clear strategy for growth, we remain confident that we are able to deliver increases in shareholder value", continued Mr. Robb.