\n| \n (In thousands of US dollars, except per share data)<\/b><\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nRevenue<\/p>\n<\/td>\n | \n \n70,333<\/p>\n<\/td>\n | \n \n61,622<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n204,603<\/p>\n<\/td>\n | \n \n179,650<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCost of revenue<\/p>\n<\/td>\n | \n \n14,575<\/p>\n<\/td>\n | \n \n12,132<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n43,044<\/p>\n<\/td>\n | \n \n35,111<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gross profit<\/b><\/p>\n<\/td>\n | \n \n55,758<\/p>\n<\/td>\n | \n \n49,490<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n161,559<\/p>\n<\/td>\n | \n \n144,539<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Operating expenses<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGeneral and administrative<\/p>\n<\/td>\n | \n \n9,224<\/p>\n<\/td>\n | \n \n9,173<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n30,048<\/p>\n<\/td>\n | \n \n26,292<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSales and marketing<\/p>\n<\/td>\n | \n \n18,691<\/p>\n<\/td>\n | \n \n17,600<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n62,539<\/p>\n<\/td>\n | \n \n58,348<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nResearch and development<\/p>\n<\/td>\n | \n \n11,715<\/p>\n<\/td>\n | \n \n11,905<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n40,162<\/p>\n<\/td>\n | \n \n38,007<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nShare-based compensation<\/p>\n<\/td>\n | \n \n2,358<\/p>\n<\/td>\n | \n \n1,925<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,098<\/p>\n<\/td>\n | \n \n4,447<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nForeign exchange loss<\/p>\n<\/td>\n | \n \n89<\/p>\n<\/td>\n | \n \n96<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,818<\/p>\n<\/td>\n | \n \n1,161<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDepreciation and amortization<\/p>\n<\/td>\n | \n \n2,395<\/p>\n<\/td>\n | \n \n743<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,520<\/p>\n<\/td>\n | \n \n2,388<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n44,472<\/p>\n<\/td>\n | \n \n41,442<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n149,185<\/p>\n<\/td>\n | \n \n130,643<\/p>\n<\/td>\n<\/tr>\n | \n| \n Operating income<\/b><\/p>\n<\/td>\n | \n \n11,286<\/p>\n<\/td>\n | \n \n8,048<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,374<\/p>\n<\/td>\n | \n \n13,896<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nFinance expense (income), net<\/p>\n<\/td>\n | \n \n1,397<\/p>\n<\/td>\n | \n \n(198)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,891<\/p>\n<\/td>\n | \n \n(1,388)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther (income), net<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n(2)<\/p>\n<\/td>\n<\/tr>\n | \n| \n Income before income taxes<\/b><\/p>\n<\/td>\n | \n \n9,889<\/p>\n<\/td>\n | \n \n8,246<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9,483<\/p>\n<\/td>\n | \n \n15,286<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncome tax expense (recovery)<\/p>\n<\/td>\n | \n \n463<\/p>\n<\/td>\n | \n \n2,137<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(582)<\/p>\n<\/td>\n | \n \n4,627<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Net income<\/b><\/p>\n<\/td>\n | \n \n9,426<\/p>\n<\/td>\n | \n \n6,109<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10,065<\/p>\n<\/td>\n | \n \n10,659<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Other comprehensive loss (income)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nItem that may be reclassified subsequently to income:<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nExchange loss (gain) on translation of foreign operations<\/p>\n<\/td>\n | \n \n743<\/p>\n<\/td>\n | \n \n91<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,423)<\/p>\n<\/td>\n | \n \n(1,072)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Comprehensive income<\/b><\/p>\n<\/td>\n | \n \n8,683<\/p>\n<\/td>\n | \n \n6,018<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n11,488<\/p>\n<\/td>\n | \n \n11,731<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Earnings per share – basic<\/b><\/p>\n<\/td>\n | \n \n0.38<\/p>\n<\/td>\n | \n \n0.21<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.38<\/p>\n<\/td>\n | \n \n0.36<\/p>\n<\/td>\n<\/tr>\n | \n| \n Earnings per share – diluted<\/b><\/p>\n<\/td>\n | \n \n0.37<\/p>\n<\/td>\n | \n \n0.21<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.38<\/p>\n<\/td>\n | \n \n0.35<\/p>\n<\/td>\n<\/tr>\n | \n| \n Weighted average number of common shares outstanding – basic<\/b><\/p>\n<\/td>\n | \n \n24,956,337<\/p>\n<\/td>\n | \n \n28,746,111<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n26,150,884<\/p>\n<\/td>\n | \n \n29,517,317<\/p>\n<\/td>\n<\/tr>\n | \n| \n Weighted average number of common shares outstanding – diluted<\/b><\/p>\n<\/td>\n | \n \n25,624,604<\/p>\n<\/td>\n | \n \n29,460,738<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n26,701,428<\/p>\n<\/td>\n | \n \n30,200,616<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Key Statement of Financial Position Information<\/b><\/p>\n\n\n| \n (In thousands of US dollars, except percentages)<\/b><\/p>\n<\/td>\n | \n September 30,<\/b><\/p>\n 2026<\/b><\/p>\n<\/td>\n | \n December 31,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n | | \n\n Change<\/b><\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nCash and cash equivalents<\/p>\n<\/td>\n | \n \n42,488<\/p>\n<\/td>\n | \n \n74,037<\/p>\n<\/td>\n | | \n\n \n(31,549)<\/p>\n<\/td>\n | \n \n(42.6)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal assets<\/p>\n<\/td>\n | \n \n241,710<\/p>\n<\/td>\n | \n \n206,647<\/p>\n<\/td>\n | | \n\n \n35,063<\/p>\n<\/td>\n | \n \n17.0%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal liabilities<\/p>\n<\/td>\n | \n \n247,389<\/p>\n<\/td>\n | \n \n132,556<\/p>\n<\/td>\n | | \n\n \n114,833<\/p>\n<\/td>\n | \n \n86.6%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal non-current liabilities<\/p>\n<\/td>\n | \n \n97,135<\/p>\n<\/td>\n | \n \n8,757<\/p>\n<\/td>\n | | \n\n \n88,378<\/p>\n<\/td>\n | \n \n1,009.2%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Non-IFRS Measures and Ratios and Reconciliation of Non-IFRS Measures<\/b><\/p>\n \nThis press release makes reference to certain non-IFRS measures and ratios including key performance indicators used by management and typically used by our competitors in the SaaS industry. These measures and ratios are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore not necessarily comparable to similar measures presented by other companies. Rather, these measures and ratios are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management\u2019s perspective. Accordingly, these measures and ratios should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. These non-IFRS measures and ratios are used to provide investors with alternative measures of our operating performance and liquidity and thus highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures and ratios. We also believe that securities analysts, investors and other interested parties frequently use non-IFRS measures and ratios, including SaaS industry metrics, in the evaluation of companies in the SaaS industry. Management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of executive compensation. The non-IFRS measures referred to in this press release include \u201cAnnual Recurring Revenue\u201d, \u201cAverage Contract Value\u201d, \u201cAdjusted EBITDA\u201d, \u201cAdjusted Net Income\u201d, \u201cAdjusted Earnings per Share – Basic and Diluted\u201d, \u201cWorking Capital\u201d and \u201cFree Cash Flow\u201d. The non-IFRS ratios referred to in this press release include \u201cAdjusted EBITDA as a percentage of total revenue\u201d and \u201cFree Cash Flow as a percentage of total revenue\u201d.<\/p>\n Key Performance Indicators<\/i><\/b><\/p>\n \nWe recognize subscription revenues ratably over the term of the subscription period under the provisions of our agreements with customers. The terms of our agreements, combined with high customer retention rates, provide us with a significant degree of visibility into our near-term revenues. Management uses a number of metrics, including the ones identified below, to measure the Company\u2019s performance and customer trends, which are used to prepare financial plans and shape future strategy. Our key performance indicators may be calculated in a manner different from similar key performance indicators used by other companies.<\/p>\n \n- Annual Recurring Revenue:<\/i> We define Annual Recurring Revenue as the annualized equivalent value of the subscription revenue of all existing contracts (including Original Equipment Manufacturer contracts) as at the date being measured, excluding non-recurring revenues from implementation, support and maintenance fees. Our customers generally enter into annual or multi-year contracts which are non-cancellable or cancellable with penalty. Accordingly, our calculation of Annual Recurring Revenue assumes that customers will renew the contractual commitments on a periodic basis as those commitments come up for renewal. Subscription agreements may be subject to price increases upon renewal reflecting both inflationary increases and the additional value provided by our solutions. In addition to the expected increase in subscription revenue from price increases over time, existing customers may subscribe for additional features, learners or services during the term. We believe that this measure provides a fair real-time measure of performance in a subscription-based environment. Annual Recurring Revenue provides us with visibility for consistent and predictable growth to our cash flows. Our strong total revenue growth coupled with increasing Annual Recurring Revenue indicates the continued strength in the expansion of our business and will continue to be our focus on a go-forward basis.\n<\/li>\n
- Average Contract Value: <\/i>Average Contract Value is calculated as total Annual Recurring Revenue divided by the number of active customers.\n<\/li>\n<\/ul>\n
\nAnnual Recurring Revenue and Average Contract Value as at September 30, 2026 and 2025 were as follows:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n | \n Change %<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nAnnual Recurring Revenue (in millions of US dollars)<\/p>\n<\/td>\n | \n \n261.5<\/p>\n<\/td>\n | \n \n235.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n25.9<\/p>\n<\/td>\n | \n \n11.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAverage Contract Value (in thousands of US dollars)<\/p>\n<\/td>\n | \n \n77.9<\/p>\n<\/td>\n | \n \n62.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15.1<\/p>\n<\/td>\n | \n \n24.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Adjusted EBITDA<\/i><\/p>\n \nAdjusted EBITDA is defined as net income excluding net finance income, depreciation and amortization, income taxes, share-based compensation and related payroll taxes, other income, foreign exchange gains and losses, acquisition-related compensation, transaction related expenses and restructuring costs, if any. Adjusted EBITDA as a percentage of revenue is defined as Adjusted EBITDA divided by total revenue.<\/p>\n \nThe IFRS measure most directly comparable to Adjusted EBITDA presented in our financial statements is net income.<\/p>\n \nThe following table reconciles Adjusted EBITDA to net income for the periods indicated:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three months ended September 30,<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Nine months ended September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n (In thousands of US dollars)<\/b><\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Net income<\/b><\/p>\n<\/td>\n | \n \n9,426<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,109<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10,065<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10,659<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nFinance income, net(1)<\/sup><\/p>\n<\/td>\n| \n \n1,397<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(198<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,891<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,388<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDepreciation and amortization(2)<\/sup><\/p>\n<\/td>\n| \n \n2,395<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n743<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,520<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,388<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncome tax expense<\/p>\n<\/td>\n | \n \n463<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,137<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(582<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n4,627<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nShare-based compensation(3)<\/sup><\/p>\n<\/td>\n| \n \n2,358<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,925<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,098<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,447<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther income(4)<\/sup><\/p>\n<\/td>\n| \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nForeign exchange loss(5)<\/sup><\/p>\n<\/td>\n| \n \n89<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n96<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,818<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,161<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAcquisition related compensation(6)<\/sup><\/p>\n<\/td>\n| \n \n225<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,780<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,074<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTransaction related expenses(7)<\/sup><\/p>\n<\/td>\n| \n \n296<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,833<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n470<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nRestructuring(8)<\/sup><\/p>\n<\/td>\n| \n \n5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n571<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,457<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,114<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted EBITDA<\/b><\/p>\n<\/td>\n | \n \n16,654<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,404<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n38,880<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n30,550<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted EBITDA as a percentage of total revenue1<\/sup><\/b><\/p>\n<\/td>\n| \n \n23.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n20.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n19.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n17.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n (1) <\/sup>Finance income, net, is primarily related to interest income earned on cash and cash equivalents as the funds are invested in highly liquid short-term interest-bearing marketable securities which is offset by interest expenses incurred on lease obligations and borrowings, as well as bank fees and other expenses.<\/p>\n<\/td>\n<\/tr>\n\n| \n (2) <\/sup>Depreciation and amortization expense is primarily related to depreciation expense on right-of-use assets, property and equipment and acquired intangible assets.<\/p>\n<\/td>\n<\/tr>\n\n| \n (3) <\/sup>These expenses represent non-cash expenditures recognized in connection with the issuance of share-based compensation to our employees and directors and cash payroll taxes paid on gains earned by option holders when stock options are exercised.<\/p>\n<\/td>\n<\/tr>\n\n| \n (4) <\/sup>Other income, net is primarily comprised of rental income from subleasing office space.<\/p>\n<\/td>\n<\/tr>\n\n| \n (5) <\/sup>These non-cash gains and losses relate to foreign exchange translation.<\/p>\n<\/td>\n<\/tr>\n\n| \n (6) <\/sup>These costs represent the earn-out portion of the consideration paid to the vendors of previously acquired businesses that is associated with the achievement of certain acquisition related performance metrics and other obligations, which may include continued employment.<\/p>\n<\/td>\n<\/tr>\n\n| \n (7) <\/sup>These expenses relate to professional, legal, consulting, accounting and other fees related to acquisition activities that would not otherwise have been incurred and are not considered indicative of continuing operations.<\/p>\n<\/td>\n<\/tr>\n\n| \n (8)<\/sup> There was a reduction in workforce that resulted in severance accruals and payments to employees.<\/p>\n<\/td>\n<\/tr>\n<\/table>\nAdjusted Net Income and Adjusted Earnings per Share – Basic and Diluted<\/i><\/p>\n \nAdjusted Net Income is defined as net income excluding amortization of intangible assets, share-based compensation and related payroll taxes, acquisition related compensation, transaction related expenses, restructuring costs, foreign exchange gains and losses, and deferred income taxes.<\/p>\n \nAdjusted Earnings per Share – Basic and Diluted is defined as Adjusted Net Income divided by the weighted average number of common shares (basic and diluted).<\/p>\n \nThe IFRS measure most directly comparable to Adjusted Net Income presented in our financial statements is net income.<\/p>\n \nThe following table reconciles net income to Adjusted Net Income for the periods indicated:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three months ended September 30,<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Nine months ended September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n (In thousands of US dollars)<\/b><\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n<\/tr>\n | \n| \n Net income for the period<\/b><\/p>\n<\/td>\n | \n \n9,426<\/p>\n<\/td>\n | \n \n6,109<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10,065<\/p>\n<\/td>\n | \n \n10,659<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAmortization of intangible assets<\/p>\n<\/td>\n | \n \n1,707<\/p>\n<\/td>\n | \n \n179<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,492<\/p>\n<\/td>\n | \n \n528<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nShare-based compensation<\/p>\n<\/td>\n | \n \n2,358<\/p>\n<\/td>\n | \n \n1,925<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,098<\/p>\n<\/td>\n | \n \n4,447<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAcquisition related compensation<\/p>\n<\/td>\n | \n \n225<\/p>\n<\/td>\n | \n \n1,015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,780<\/p>\n<\/td>\n | \n \n3,074<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTransaction related expenses<\/p>\n<\/td>\n | \n \n296<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,833<\/p>\n<\/td>\n | \n \n470<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nRestructuring<\/p>\n<\/td>\n | \n \n5<\/p>\n<\/td>\n | \n \n571<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,457<\/p>\n<\/td>\n | \n \n5,114<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nForeign exchange loss<\/p>\n<\/td>\n | \n \n89<\/p>\n<\/td>\n | \n \n96<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,818<\/p>\n<\/td>\n | \n \n1,161<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDeferred income tax (recovery) expense<\/p>\n<\/td>\n | \n \n(61)<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,197)<\/p>\n<\/td>\n | \n \n1,857<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted net income<\/b><\/p>\n<\/td>\n | \n \n14,045<\/p>\n<\/td>\n | \n \n9,901<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n33,346<\/p>\n<\/td>\n | \n \n27,310<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Weighted average number of common shares – basic<\/b><\/p>\n<\/td>\n | \n \n24,956,337<\/p>\n<\/td>\n | \n \n28,746,111<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n26,150,884<\/p>\n<\/td>\n | \n \n29,517,317<\/p>\n<\/td>\n<\/tr>\n | \n| \n Weighted average number of common shares – diluted<\/b><\/p>\n<\/td>\n | \n \n25,624,604<\/p>\n<\/td>\n | \n \n29,460,738<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n26,701,428<\/p>\n<\/td>\n | \n \n30,200,616<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted earnings per share – basic<\/b><\/p>\n<\/td>\n | \n \n0.56<\/p>\n<\/td>\n | \n \n0.34<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.28<\/p>\n<\/td>\n | \n \n0.93<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted earnings per share – diluted<\/b><\/p>\n<\/td>\n | \n \n0.55<\/p>\n<\/td>\n | \n \n0.34<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.25<\/p>\n<\/td>\n | \n \n0.90<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Working Capital<\/i><\/p>\n \nWorking Capital as at September 30, 2026 and 2025 was $(34.2) million and $5.6 million, respectively. Working Capital is defined as current assets, excluding the current portion of the net investment in finance lease and contract costs, minus current liabilities, excluding borrowings, if any, and the current portion of contingent consideration and lease obligations. The decrease in Working Capital from September 30, 2025 to September 30, 2026 was driven by the use of cash and cash equivalents to purchase shares under the NCIB and SIB. Working Capital is not a recognized measure under IFRS.<\/p>\n \nThe following table represents the Company\u2019s working capital position as at September 30, 2026 and 2025:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |