Sylogist Announces Third Quarter 2026 Results

Q3 2026 Highlights

• SaaS ARR of $35.0 million, up 4.1% compared to $33.6 million at Q3 2025 and up 4.4% compared to $33.5 million at Q2 2026

• Total ARR of $46.0 million, up 0.4% compared to $45.8 million at Q3 2025 and up 2.3% compared to $45.0 million at Q2 2026

• Recurring Revenue at 75% of Total Revenue, compared to 72% in Q3 2025

• Net Loss of $1.8 million, compared to a net loss of $0.9 million in Q3 2025 and a net loss of $2.8 million in Q2 2026

• Adjusted EBITDA¹ margin of 10.7% or $1.6 million compared to 19.3% or $3.1 million in Q3 2025 and 10.8% or $1.6 million in Q2 2026

• Cash and cash equivalents of $9.3 million; cash provided by operating activities of $7.3 million, compared to cash and cash equivalents of $14.1 million and cash provided by operating activities of $10.5 million in Q3 2025

Calgary, Alberta–(Newsfile Corp. – November 11, 2026) – Sylogist Ltd. (TSX: SYZ) (“Sylogist” or the “Company”), a leading public sector SaaS company, today announced its financial results for the three and nine months ended September 30, 2026.

“We are beginning to see the impacts of our focus on spending discipline and go to market execution,” said Joel Leetzow, Chief Executive Officer of Sylogist. “Beneath the headline numbers, we are seeing encouraging growth in our SaaS products, both through direct customer engagement and from partner-originated bookings. As we work through the remaining headwind churn that we are experiencing from our legacy products, this growth will begin to resonate on the top line.”

Additionally, on November 9, 2026, the Company executed an amendment to its existing credit facility agreement extending the maturity date of the revolving credit facility from September 30, 2027, to September 30, 2028.

The Company will host a conference call at 8:30 AM Eastern Time on November 12, 2026, to review its Fiscal 2026 third quarter financial results and business performance.

Conference Call Details:

Time: 8:30 AM ET
Participant Toll-Free Dial-In Number: +1-833-752-3805
Participant International Dial-In Number: +1-647-846-8841
Webcast link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=1d2e4GEs

This conference call will be recorded and available for replay on the Company’s website.

About Sylogist

Sylogist provides mission-critical SaaS solutions to public sector customers globally across the government, nonprofit, and education market segments. The Company’s stock is traded on the Toronto Stock Exchange under the symbol SYZ. Information about Sylogist can be found at sedarplus.ca or at sylogist.com.

Forward-looking Statements

Certain statements in this news release may be forward-looking statements within the meaning of applicable securities laws and regulations. These statements typically use words such as will, expect, believe, estimate, project, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the beliefs and plans and other forward-looking expectations expressed herein will not be achieved or will prove inaccurate. Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements with respect to the expected growth of the Company’s SaaS products, the impact of churn within its legacy products, changes to its professional services delivery model and the Company’s credit facility. Material assumptions and factors that could cause actual results to differ materially from such forward-looking information include Sylogist’s ability to attract and retain customers and to realize on its investments. Although Sylogist believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. Sylogist disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Certain information set out herein may be considered as “financial outlook” within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Sylogist’s reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.

Non-IFRS Financial Measures

This news release refers to certain non-IFRS measures. These non-IFRS measures do not have any standardized meaning prescribed by IFRS and may not be comparable to similarly titled measures reported by other companies. These measures are provided as additional information to complement measures under IFRS by providing further understanding of the Company’s expected results of operations from management’s perspective. Accordingly, such measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. Adjusted EBITDA is a non-IFRS financial measure and Adjusted EBITDA Margin is a non-IFRS ratio. Annualized Recurring Revenue (“ARR”), and Software as a Service (“SaaS”) ARR are supplementary financial measures.

• ARR Bookings refer to the ARR value of contractually committed new and/or incremental SaaS and maintenance and support customer accepted contracts during the reporting period.

• Adjusted EBITDA is calculated as EBITDA before stock-based compensation, foreign exchange gains/losses and the impact of acquisitions, restructuring, divestitures, and other costs incurred in a given reporting period.

• Adjusted EBITDA Margin refers to Adjusted EBITDA as a percentage of revenue.

• ARR is defined as the annualized value of contractually committed SaaS and maintenance and support services. This quantification assumes that customers will renew the contractual commitment on a periodic basis as they come up for renewal unless the customer has notified the Company of its intention to cancel. This portion of the Company’s revenue is considered relatively predictable and stable.

• SaaS ARR refers to ARR attributable to SaaS customer contracts.

Adjusted EBITDA, Adjusted EBITDA Margin, ARR and SaaS ARR are provided to investors as alternative methods for assessing the Company’s operating results in a manner that is focused on the Company’s ongoing operations and to provide a more consistent basis for comparison between periods. These measures should not be construed as alternatives to profit or cash flow from operating activities determined in accordance with IFRS as an indicator of the Company’s performance.

Reconciliation of Net Loss to Adjusted EBITDA

For further information regarding non-IFRS measures used by the Company, please refer to a copy of the financial statements and Management’s Discussion and Analysis of the Company, copies of which are available on Sylogist’s SEDAR profile at www.sedarplus.ca.

Currency and Rounding

Amounts in this news release are expressed in millions of Canadian dollars unless otherwise stated. All percentage variations expressed herein have been calculated based on variations resulting from numbers expressed in millions. Any potential differences from similarly calculated percentages in the Company’s financial statements and Management’s Discussion and Analysis are due to rounding and are nonmaterial.

¹ For a reconciliation of “Adjusted EBITDA” to reported “Net Loss” please refer to the Company’s Management Discussion and Analysis for the three and nine months ended September 30, 2026, at sedarplus.ca or sylogist.com and the Table appended to this Press Release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/323664

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