NUAN - The Next Stage For VIQ Solutions Is Stepping Up Organic Growth
VIQ Solutions (VQSLF) [TSX:VQS] is a provider of cloud-based A.I. enhanced transcription services for law enforcement, insurance and media companies as well as government agencies and court systems. VIQ has been acquiring companies that perform transcription services mostly by humans and migrating the acquired customers to its platform where transcription services are performed mostly by software which results in improving gross margins from about 22% to a target of 50% or higher.
VIQ has proven that it can successfully scale and that its growth by acquisition strategy works as I presented in previous articles.