IC Group Holdings Inc. (TSXV: ICGH) reported second-quarter 2026 revenue of C$8.2 million, up 26% from C$6.5 million a year earlier, as growth across its consumer engagement, mobile messaging and insurance businesses supported improved operating results.
The company said approximately 97% of the quarter’s revenue growth was organic. Annual Recurring Revenue, or ARR, represented approximately 67% of total revenue, compared with 70% in the second quarter of 2025. IC Group defines ARR as expected annual revenue generated from recurring transactional, service, licensing, SaaS or subscription fees and notes that the measure is not standardized under IFRS.
Gross profit increased 15% to C$3.4 million, although gross margin declined to 42% from 46%. The company attributed much of the compression to its IC Mobile business, where higher carrier pass-through costs, a greater mix of lower-margin wholesale traffic and platform-related expenses affected profitability.
IC Mobile revenue nevertheless increased 25% to C$3.9 million. IC Engage revenue rose 12% to C$3.3 million, while the smaller IC Insurance segment posted a 147% increase to C$900,000.
Profitability also improved at the consolidated level. EBITDA increased to C$510,000 from C$30,000, while adjusted EBITDA rose 345% to C$670,000. The company’s quarterly net loss narrowed to C$110,000 from C$580,000 a year earlier. Adjusted EBITDA is a non-IFRS measure.
IC Group also highlighted recent commercial activity supporting its growth strategy. In July, the company announced the renewal and expansion of a mandate with a longstanding Fortune 50 technology customer covering promotional and consumer engagement programs across 30 countries. The mandate is valued at up to C$8.5 million, including prizing costs, with services expected to be delivered during fiscal 2026 and 2027.
The company separately entered an exclusive three-year partnership with an unnamed global venue technology provider to expand distribution of its fan-engagement solutions across North American community, educational and sports venues. The agreement does not include minimum revenue commitments.
For the first six months of 2026, IC Group reported revenue of C$15.9 million, up 27% year over year, while adjusted EBITDA increased 303% to C$1.35 million.
Upcoming Catalysts
IC Group continues to invest in its mobile messaging infrastructure and live-event engagement platforms while integrating recently expanded commercial relationships. The company has also indicated that pricing adjustments and migration to an enhanced messaging platform are expected to influence the performance of IC Mobile as it works to address the margin pressure experienced during the second quarter.
Management is scheduled to discuss the quarter and its priorities for the remainder of 2026 during an investor webinar on Aug. 27.
Sources
- IC Group Holdings Inc. — “IC Group Reports Q2 2026 Results; Revenue Up 26% Year-over-Year, Driven By 97% Organic Growth of Annual Recurring Revenue,” Aug. 26, 2026, via TMX Newsfile
- IC Group Holdings Inc. — “IC Group Renews and Expands Global Consumer Engagement Mandate with Fortune 50 Technology Company,” July 8, 2026, via TMX Newsfile
- IC Group Holdings Inc. — “IC Group Announces Exclusive Partnership to Expand Community Sports Engagement Across North America,” July 23, 2026, via TMX Newsfile
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Sources used include IC Group Holdings Inc.’s second-quarter 2026 results released Aug. 26, 2026 via TMX Newsfile; its July 8, 2026 Fortune 50 contract renewal and expansion announcement; and its July 23, 2026 venue technology partnership announcement.
IC Group reported second-quarter revenue of C$8.2 million and a net loss of C$110,000. Gross margin declined to 42% from 46%, including a decline in IC Mobile gross margin to 10% from 22%. Annual Recurring Revenue and adjusted EBITDA are non-IFRS measures without standardized meanings under IFRS and may not be directly comparable with similarly named measures used by other companies. The Fortune 50 mandate is valued at up to C$8.5 million inclusive of prizing costs, while the company’s three-year venue technology partnership contains no minimum revenue commitments. Future revenue and benefits from these agreements may differ from management expectations.
Financial information is current as of June 30, 2026, while commercial developments and forward-looking information are current through Aug. 26, 2026. No share-price or market-capitalization data was used.
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