Avigilon reports record Q3 2015 results

Avigilon has reported financial results for the three and nine months ended September 30, 2015. All figures are in Canadian dollars unless otherwise stated.

Third quarter 2015 financial highlights:

• Company records set in revenue, adjusted EBITDA, adjusted earnings, and fully diluted adjusted earnings per share.
• Revenue of $95.1 million, a 34% increase over Q3 2014 revenue of $71.0 million.
• Gross margin percentage was 57%, consistent with the same period in the prior year.
• Adjusted EBITDA of $18.9 million, a 15% increase over Q3 2014 adjusted EBITDA of $16.4 million.
• Adjusted earnings of $12.2 million, a 9% increase over Q3 2014 adjusted earnings of $11.2 million.
• Fully diluted adjusted earnings per share were $0.27, a 13% increase over Q3 2014 fully diluted adjusted earnings per share of $0.24.
• Trailing 12 months revenue ending Q3 2015 increased by 37% over the trailing 12 months revenue ending Q3 2014, gross margin percentage was 58%, and adjusted EBITDA margin was 18%.

"We are pleased to report record setting revenue, adjusted EBITDA, adjusted earnings, and adjusted earnings per share this quarter," said Alexander Fernandes, Avigilon's Founder, President, Chief Executive Officer and Chairman of the Board. "Avigilon's business fundamentals are strong, and we are well on track to achieve our stated goal of $500 million in annual run-rate revenue by the end of 2016."