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Earnings

AVANTE ANNOUNCES RESULTS FOR THE THIRD FISCAL QUARTER OF 2026

By The Northwire Desk — AI Analysis Mar 02, 2026 · 17:01 XX · 1.1 Avante Corp.
XX · Price

Executive Summary

  • Avante Corp. reported FY‑2026 Q3 revenue of C$9.10 M, an 8.2% YoY increase driven by strong growth in its NSSG and Avante Black segments.
  • Adjusted EBITDA rose to C$0.82 M (7.0% YoY improvement) and the company posted a net income of C$0.09 M versus a loss of C$0.15 M a year earlier.
  • The firm highlighted a positive outlook for FY‑2026, citing organic growth in its core services, a cash balance of C$5.0 M, zero debt and $12 M of available credit facilities to fund M&A and product development.

Key Details

  • Revenue: C$9.10 M (up 8.2% YoY from C$8.41 M).
  • Segment Growth: NSSG revenue +20.1% YoY; Avante Black revenue +31.6% YoY.
  • Recurring Monthly Revenue (RMR): C$4.21 M, up 12.4% YoY.
  • Gross Profit: C$3.80 M, a 10.4% increase YoY; gross margin stable at 41.8%.
  • Adjusted EBITDA: C$0.82 M (7.0% YoY improvement).
  • Net Income: C$0.09 M versus a loss of C$0.15 M in the prior year’s quarter.
  • Cash Position: C$4.96 M cash & equivalents on hand; no funded debt.
  • Credit Facilities: $12 M available for strategic initiatives.
  • Balance Sheet Highlights: Lease obligations C$1.31 M; total shares outstanding ~26.65 M.
  • Management Commentary: CEO Manny Mounouchos emphasized product‑suite expansion and demand for investigative services; CFO Raj Kapoor noted positive operating cash flow, strong balance sheet, and flexibility to pursue M&A.
  • Forward‑Looking Statements: Management expects continued organic growth across Avante Black, HALO, Avante Verified, and MAST in FY‑2026.

Notable Quotes

“The third quarter was a standout period for Avante, reflecting progress in strengthening our product suite and delivering meaningful improvements across our services.” – Manny Mounouchos, Founder, CEO & Board Chair

“I am pleased to report another quarter of positive operating cash flow… This financial strength provides strategic flexibility to execute on our robust M&A pipeline.” – Raj Kapoor, Chief Financial Officer

Read the original news release →

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