Company Reports 25% Recurring Revenue Growth
TORONTO, ON / ACCESS Newswire / August 27, 2026 / AirIQ Inc. ("AirIQ") (TSXV:IQ), a leader in IoT-based asset management solutions since 1997, today announced its financial results for the three months ended June 30, 2026, reporting a new record for recurring revenue.
Unless otherwise noted herein, all amounts are in thousands of Canadian dollars except share and per share information.
First Quarter and Sequential Highlights (for the three months ended June 30, 2026 compared to June 30, 2025)
Record recurring revenue of $1,653 increased by 25% or $330 compared to $1,323
Total revenue of $1,833 increased by 29% or $411 compared to $1,422
Gross profit of $993 increased by 14% or $121 compared to $872
Operating profit of $223 increased by 7% or $15 compared to $208
Net income of $69 increased 331% or $53 compared to $16
"We are pleased to report a strong start to the year, with recurring revenues at a 25% increase over the prior year", said Mike Robb, President and Chief Executive Officer of AirIQ. "The investments we have made in our sales and marketing and our rental strategy continue to strengthen the quality and predictability of our business. We remain focused on executing our strategy, expanding our recurring revenue base and investing in the business to support sustainable long-term growth and shareholder value", continued Mr. Robb. "Net income was negatively impacted by $43 due to increased non-cash amortization expenses related to acquired customer contracts compared to the same period the previous year", said Mike Robb.
All dollar amounts set out herein are in Canadian dollars.
Normal Course Issuer Bid
The Company filed a Notice of Intention to Make a Normal Course Issuer Bid (the "Bid") with the TSX Venture Exchange ("TSXV") commencing June 24, 2025 and ended on June 26, 2026. Pursuant to the Bid, the Company proposed to purchase through the facilities of the TSXV up to 1,455,829 common shares, representing approximately 5% of the then issued and outstanding common shares of the Company. The Company's broker for the Bid is Hampton Securities Limited.
Financial Statements & MDA
The Company's unaudited consolidated condensed interim financial statements include the accounts of AirIQ and its subsidiaries, AirIQ U.S. Holdings, Inc., AirIQ U.S., Inc., and AirIQ, LLC. All inter-company balances and transactions have been eliminated on consolidation.
The Company's unaudited consolidated interim financial statements for the three months ended June 30, 2026 and 2025 including notes thereto, and Management's Discussion and Analysis for the same period are being filed with the Canadian securities regulatory authorities on today's date, and will be available on the Company's website (www.airiq.com) and on the System for Electronic Document Analysis and Retrieval ("SEDAR") website (www.sedarplus.ca). The Company's financial statements include the accounts of AirIQ and its subsidiaries, AirIQ U.S. Holdings, Inc., AirIQ U.S., Inc., and AirIQ, LLC. All inter-company balances and transactions have been eliminated on consolidation.
About AirIQ
AirIQ (TSXV:IQ) was founded in 1997 and is a pioneer in IoT based asset management solutions. AirIQ's solutions allow commercial businesses to reliably, effectively and efficiently monitor assets in near real time. The Company develops iOS and Android mobile and web-based applications, and cloud-based solutions that stand-alone or that can be readily integrated with existing software. AirIQ solutions are mixed fleet capable and provide fleet reporting, maintenance, compliance, safety and analytics utilizing multiple hardware options including a fully integrated video telematics camera solution and a battery powered solution for non-powered assets. For additional information on AirIQ please visit the Company's website at www.airiq.com or follow us on LinkedIn.
Forward-looking Statements
This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as "hope", "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors, which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of such information, future events or otherwise.
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For more information please contact:
AirIQ Inc.,
Michael Robb, President and Chief Executive Officer,
(905) 831-6444
mrobb@airiq.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: AirIQ, Inc.
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