(NewsDirect)
ISC CEOShawn Peters joined Steve Darling from Proactive to discuss thecompany's impressive financial performance in the first quarter of2024, coinciding with the launch of its ambitious five-year growthplan. The company recorded a revenue of $56.4 million, marking a 15percent increase compared to the first quarter of 2023. This growth isattributed to fee adjustments within the Saskatchewan Registriesdivision implemented in the third quarter of 2023, as well asconsistent customer and transaction growth in the Services’Regulatory Solutions division and the advancement of project work onboth existing and new solutions in the Technology Solutions division.Peters also highlighted that the Adjusted EBITDA for the quarter roseto $19.4 million, up from $14.5 million in the same period last year.This increase was primarily driven by the aforementioned feeadjustments in the Registry Operations’ Saskatchewan Registriesdivision, in line with the Extension Agreement and annual CPIadjustments. Additionally, the Technology Solutions division saw anincrease in its Adjusted EBITDA, which grew due to increased revenuefrom ongoing and new solution definition and implementation contracts.The Adjusted EBITDA margin significantly improved to 34.5 percent, upfrom 29.5 percent in the first quarter of 2023, reflecting thepositive impact of the pricing strategiesimplemented.
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