IC Group Holdings Inc.

everyone, and thank you for joining us today. And welcome to IC Group Holdings financial webinar covering our first quarter of 2026. This is for the period ended March 31, 2026. And we do appreciate you taking the time to be with us today. Joining me today, we have Duncan McCready, our Chief Executive Officer, and John Penhale, the Chief Financial Officer. After markets closed yesterday, we issued our press release outlining our first quarter financial results. And I'll remind you that you can find those on our website under the investor relations section or as well on CDAR+. A replay of today's webinar will be available on our website shortly after the event concludes. As we move through the presentation, we'll discuss our financial performance for the quarter and provide you with an update on our operating divisions and review key developments that continue to support our growth strategy. Before we begin, I'd like to remind everyone that certain comments today include forward-looking statements. These statements reflect our current expectation as of today and are subjective to a number of risks and uncertainty that could cause actual results to differ materially. For more information on these risks, again, you can check out our filings on CDAR. We may also refer to non-IFRS measures during the discussion. Reconciliations are in our filings. And following the prepared remarks, we'll open the floor for some questions. If you'd like to submit a question at any point during the webinar, please use the Q&A or chat feature located in the Zoom menu at the bottom of your screen. We encourage you to submit questions as they come. to your mind and we'll do our best to address any as time allows here. So with that, I'd like to turn it over to Duncan McCready. Good morning, Duncan.

Good morning. Thanks for the introduction, Glenn. Nice to see everyone. Nice to be back on the call for our quarterly results release. I'll just give you, as Glenn mentioned, our performance across our different business segments, give you a sense of changes within the business and also what we're looking at over the next three quarters. Just to remind everyone, ISEE Group is a consumer engagement platform that helps enterprise brands and sports organizations really connect with their consumer audiences at scale. We execute campaigns globally. We're in over 30 jurisdictions now, and we support 90 sports teams along with enterprise brand customers in various jurisdictions around the world. Our platform is designed to help clients drive commerce, capture first-party data, enable repeat engagement, particularly in regulated and complex operating environments. At the end of the day, our value proposition to our customers is really centered on simplifying the complexities of consumer engagement across those different channels, across different geographies, regulatory frameworks, all to reach consumers and develop owned audiences and relationships that drive measurable value now and into the future. Operationally, the business is organized into three segments. IC Engage, which formerly was known as Digital Promotions, IC Mobile, formerly known as Mobile Messaging, and IC Insurance, formerly known as Insurance Solutions. At the end of the day, the core of our business, we're really focused on building durable, repeatable engagement solutions that support recurring revenue, scalability, and building towards positive operating leverage as the business grows. As the business does experience some seasonality in Q1, we were really pleased with the strength and consistency of the results we delivered to start 2026. For the quarter, revenue increased 29% year over year to 7.8 million, driven primarily by a continued organic growth across IC Engage and IC Mobile. Gross profit increased 22% to $3.3 million, while adjusted EBITDA improved 300% to $0.67 million, reflecting improving operating leverage across the platform and reduced one-time costs. Importantly, approximately 86% of our growth during the quarter was organic. demonstrating continued momentum with our existing customer base, strong product market fit, and the effectiveness of our land and expand strategies. Looking at the last 12 months, revenue reached approximately 29 million with gross profit of 13 million and gross margins of 45%. We believe this reflects the scale and diversification we have been building across the three different business units. Annual recurring remains strong at 68%, really providing greater visibility and stability as the business continues to scale. John, I'll turn it over to you.

Thanks, Duncan. IC Group's Q1 financial results marked another quarter of significantly higher earnings from a year ago. And the fourth quarter in a row of increasing earnings in terms of adjusted EBITDA since going public a year ago. Versus the prior quarter, overall company revenue grew 8% vastly organic and adjusted EBITDA increased 3%. The company also continued to improve its financial strength during the quarter and following its $3.75 million equity raise in the prior quarter by deleveraging the balance sheet by $565,000, including the conversion of $175,000 of shareholder advances into common equity. This growth trajectory validates the investments the company is making in its systems and technology from which we believe positive operating leverage will be generated in future quarters. The company saw growth in Q1 across all three of its business segments. IC Engage saw quarterly revenues grow 7% from continued customer demand for its reward program solutions. and consistent profitability after absorbing costs related to investments in our technology for future benefit. IC Mobile saw quarterly revenues increase 8% from higher customer traffic flows. This was tempered by margin compression from changes in mix between wholesale and enterprise traffic flows, resulting in a similar level of adjusted operating income to the prior quarter. and the business continues to invest in its core messaging system, from which margins are expected to benefit in the future. IC Insurance quarterly revenues grew 20% from Q4, and gross profit was up 8%, resulting in a 9% smaller operating loss from the prior quarter. This was a good result for this segment given the industry backdrop of insurance premium compression and as the business repositions itself for more balance between its contingency and liability portfolios. And lastly, the company finished the quarter with $3.4 million of cash on hand due to drawing down its deferred revenue balance in the quarter and the deleveraging mentioned previously. Due to seasonality of certain cash flows, management anticipates its cash position to be lower again at the end of Q2 before being replenished in Q3. And with that, I'll turn it back to you, Duncan.