PHOENIX, Ariz. — VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX:VQS), a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announces its unaudited financial results for the third quarter ending September 30, 2023. Results are reported in US dollars and prepared in accordance with International Financial Reporting Standards (“IFRS”).
“The third quarter represents the last comparable quarter against the prior Queensland Courts Department of Justice and Attorney General (“DJAG”) contracts which created challenges in comparative metrics throughout 2023. The industry labor shortages that affected the quarter, particularly in Australia, are being managed but created significant challenges in the quarter for both acceleration of revenue and abatements that impacted our bottom line. These challenges are now largely under control and the implementation of the NetScribe aiAssist platform is expected to reduce the labor risk in the coming years. Excluding the DJAG contract and the impact of foreign exchange, VIQ would have reported positive year-to-date revenue growth of 1.2% over the comparative period in 2022,” said VIQ CEO Sebastien Pare.