Mr. Cameron Watt reports

INTOUCH INSIGHT ANNOUNCES Q2 2023 FINANCIAL RESULTS

Intouch Insight Ltd. has released its operating and financial results for the quarter ended June 30, 2023.

Key highlights for Q2 2023:

• Gross margin increased to 54.8 per cent from 48.5 per cent in Q2 2022 and to 51.7 per cent year to date from 50.1 per cent year to date in 2022, due to a one-time lower margin project in 2022
• SaaS (software-as-a-service) revenues grew 16 per cent organically for Q2 compared with the prior year and 18 per cent year to date over the prior year;
• Revenue was $5,682,209, compared with $7,283,308 in Q2 2022, due to a one-time project in the prior year; year-to-date revenues were $10,779,150, compared with $12,527,624 in to the prior year;
• Recurring revenue was $5,588,618 in Q2, compared with $5,655,157 in Q2 2022;
• Q2 net income was $304,484, compared with $591,265 in Q2 2022; year-to-date net income was $119,970, compared with $324,826 in the prior year;
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $633,599 for Q2, compared with $805,926 in Q2 2022; year-to-date EBITDA was $655,688, compared with $997,614 in 2022.

"We are pleased to have surpassed our prepandemic revenues, grown our SaaS business and improved our margins. As we continue to grow our revenues, we will closely monitor our costs to ensure we are spending wisely, and are ready to react to both positive and negative pressures," said Cameron Watt, president and chief executive officer of the company.

"We are excited to on board the strong and committed work force and fantastic client programs that the previously announced acquisition will bring. The acquisition is currently planned to close on Oct. 1. Ultimately, this will provide another group of clients to whom we will be able to cross-sell our software offering, which has been steadily growing every year even throughout the pandemic," said Mr. Watt.

About Intouch Insight Ltd.

Intouch offers a complete portfolio of customer experience management (CEM) products and services that help global brands delight their customers, strengthen brand reputation and improve financial performance. Intouch helps clients collect and centralize data from multiple customer touch points, gives them actionable, real-time insights and provides them with the tools to continuously improve customer experience. Founded in 1992, Intouch is trusted by over 300 of North America's most-loved brands for their customer experience management, customer survey, mystery shopping, mobile forms, operational and compliance audits, geolocation data capture, and event marketing automation solutions.

We seek Safe Harbor.