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VIQ Solutions Third Quarter 2022 Earnings: EPS Beats Expectations, Revenues Lag

VIQ Solutions (TSE:VQS) Third Quarter 2022 Results

Key Financial Results

  • Revenue: US$11.8m (up 66% from 3Q 2021).

  • Net loss: US$1.33m (loss narrowed by 66% from 3Q 2021).

  • US$0.041 loss per share (improved from US$0.15 loss in 3Q 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

VIQ Solutions EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) exceeded analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the IT industry in Canada.

Performance of the Canadian IT industry.

The company's shares are down 41% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 5 warning signs for VIQ Solutions you should be aware of, and 2 of them are a bit concerning.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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