Sylogist Announces Fourth Quarter and Full Year 2025 Results

Recurring Revenue at 81% of Total Revenue

Q4 2025 Highlights

• SaaS ARR up 9% Y/Y to $ 33.8 million;
• Total ARR up 2% Y/Y to $ 45.7 million;
• SaaS ARR Bookings up 8.1% Y/Y to $0.5 million;
• Gross Profit margin of 56%;
• Recurring Revenue at 81% of Total Revenue;
• Adjusted EBITDA¹ margin of 7.2% or $1.0 million; and
• Net Loss of $0.9 million

Fiscal 2025 Highlights

• SaaS NRR of 101%;
• SaaS ARR Bookings up 2% Y/Y to $4.3 million;
• Gross Profit margin of 58%;
• Recurring Revenue at 72% of Total Revenue;
• Project Services Revenue decreased markedly as the Company transitioned project work to partners;
• Adjusted EBITDA Margin of 14.6% or $9.1 million; and
• Net Loss of $4.7 million

CALGARY, Alberta, March 19, 2026 (GLOBE NEWSWIRE) — Sylogist Ltd. (TSX:SYZ) (“Sylogist” or the “Company”), a leading public sector SaaS company, today announced its financial results for the three and twelve months ended December 31, 2025.

“Sylogist has a committed and talented team, a portfolio of mission-critical software solutions that are highly effective at addressing the needs of our customers, and we’ve built a strong reputation in our target markets,” said Craig O’Neill, interim CEO of Sylogist. “Adjusting for the reduction in Project Services revenue driven by our transition to partner-led projects, our Q4 and FY 2025 results, and particularly our SaaS subscription revenue growth, are showing early signs of the progress the Company has made in its transformation to a SaaS business. We are well on the way to completing a strategic review that will ensure this transformation delivers enhanced recurring revenue growth and profitability in the coming quarters.”

Recent changes to Sylogist’s Board underscore the company’s commitment to strong governance and strategic leadership. In February 2026, Errol Olsen was appointed as Board Chair, bringing more than 25 years of finance leadership at high-growth software companies. In March 2026, the Board welcomed Andrew Shen as an independent director, adding deep capital markets and growth equity experience. Together, these appointments further position Sylogist to respond to evolving market needs and pursue new opportunities. Additionally, the Board has been actively engaged in the search for a permanent CEO.

The Company will host a conference call at 8:30 AM Eastern Time on March 19, 2026, to review its three-and-twelve-month financial results and business performance.

Conference Call Details:
Date: Thursday, March 19, 2026
Time: 8:30 a.m. 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=Z4IKSItu

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 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, inclusive of full financial statements together with Management’s Discussion and Analysis, can be found at sedarplus.ca or sylogist.com.

For further information contact:

Jennifer Smith, Investor Relations
LodeRock Advisors
(416) 491-8004
ir@sylogist.com

Forward-looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities legislation. Although the forward-looking information is based on what the Company believes are reasonable assumptions, current expectations, and estimates, investors are cautioned from placing undue reliance on this information since actual results may vary from the forward-looking information. Forward-looking information may be identified by the use of forward-looking terminology such as “believe”, “assume”, “intend”, “may”, “will”, “expect”, “estimate”, “anticipate”, “continue”, “could”, “can”, “outlook” or similar terms, variations of those terms or the negative of those terms, and the use of the conditional tense as well as similar expressions.

Such forward-looking information that is not historical fact, including statements based on management’s belief and assumptions, cannot be considered as guarantees of future performance. They are subject to a number of risks and uncertainties, including but not limited to future economic conditions, the markets that the Company serves, the actions of competitors, major new technological trends, and other factors, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. The Company undertakes no obligation to update publicly any forward-looking information whether because of new information, future events or otherwise other than as required by applicable legislation. Important risk factors that may affect these expectations include, but are not limited to, the factors described under the section titled “Risk Factors” found in the Company’s Annual Information Form for the fiscal period ended December 31, 2024, and under the section titled “Risks and Uncertainties” in the Management’s Discussion and Analysis for the  period ended December 31, 2025. and other documents available on the Company’s profile at www.sedarplus.ca.

Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: (i) competitive environment; (ii) operating risks; (iii) the Company’s management and employees; (iv) capital investment by the Company’s customers; (v) customer project implementations; (vi) liquidity; (vii) current global financial and geopolitical conditions; (viii) implementation of the Company’s commercial strategic plan; (ix) credit; (x) potential product liabilities and other lawsuits to which the Company may be subject; (xi) additional financing and dilution; (xii) market liquidity of the Company’s common shares; (xiii) development of new products; (xiv) intellectual property and other proprietary rights; (xv) acquisition and expansion; (xvi) foreign currency; (xvii) interest rates; (xviii) technology and regulatory changes; (xix) internal information technology infrastructure and applications and (xx) cyber security. 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. Bookings, Adjusted EBITDA, Adjusted EBITDA Margin, Annualized Recurring Revenue (“ARR”), Software as a Service (“SaaS”) ARR, and SaaS Net Revenue Retention (“NRR”), are non-IFRS financial measures.

• Bookings refers to the total value of customer accepted SaaS contracts during the reporting period.
• Adjusted EBITDA is calculated as earnings before interest expense, interest income, income taxes, depreciation and amortization, stock-based compensation, foreign exchange gains/losses and the impact of acquisition and restructuring and divestitures 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 predictable and stable.
• SaaS ARR refers to ARR attributable to SaaS customer contracts.
• SaaS NRR refers to the percentage of beginning of period ARR retained over a given 12-month period inclusive of the impact of contractions, losses and the impact of any additional expansion revenues from customer upgrades within the existing customer base. The Company’s calculation of SaaS NRR includes the impact of customers converting from the Company’s maintenance and support offerings to its SaaS offerings

Bookings, Adjusted EBITDA, Adjusted EBITDA Margin, ARR, SaaS ARR, and SaaS NRR 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.

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
All 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 twelve months ended December 31, 2025 at sedarplus.ca or sylogist.com