Mr. Cameron Watt reports

INTOUCH INSIGHT ANNOUNCES Q3 2023 FINANCIAL RESULTS

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

Key highlights for Q3 2023

• Gross margin increased to 51.7 per cent year to date from 50.1 per cent in 2022 due to a one-time lower-margin project in 2022 and decreased to 51.7 per cent in Q3 compared with 53.1 per cent in Q3 2022 due to a change in revenue mix.
• SaaS (software-as-a-service) revenues grew 10 per cent organically for Q3, compared with the prior year, and 15 per cent year to date over the prior year.
• Revenue was 4 per cent higher at $5,634,594 compared with $5,414,630 in Q3 2022; year-to-date revenues were $16,413,744 compared with $17,942,254 in the prior year due to a one-time project in the prior year.
• Q3 net income was $175,455 compared with $366,713 in Q3 2022; year-to-date net income was $295,425 compared with $691,539 in the prior year due to an increase in selling expenses.
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $509,762 for Q3 compared with $831,774 in Q3 2022, year-to-date EBITDA was $1,165,451 compared with $1,829,388 in 2022.

"We believe the growth in Q3 2023 revenues over the prior year represents a turning point in the underlying economic conditions so many of our clients have been facing," said Cameron Watt, president and chief executive officer.

"We have just completed the acquisition of Alta360 Research Inc. (Alta) and its sister company, a new venture, Ardent Retail Services Inc (Ardent). The Alta revenues will bolster existing recurring services revenues, and Ardent is expected to bring significant revenue opportunities through new business segments with our existing clients. These opportunities, combined with our increased investments in sales and marketing, are expected to drive stronger growth as we look forward," said Mr. Watt.

About Intouch Insight Ltd.

Intouch Insight 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 the tools to continuously improve customer experience. Founded in 1992, Intouch is trusted by over 300 of North America's most-loved brands for customer experience management, customer surveys, mystery shopping, mobile forms, operational and compliance audits, geolocation data capture, and event marketing automation solutions.

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