Canada's Reklaim Q3 revenue jumps 187% year on year

Overview

• Canada data privacy platform's Q3 revenue rose 187% yr/yr and 20% over Q2

• Net income rose 76% sequentially, marking third consecutive profitable quarter

• Company repurchased 5.1 mln shares in Q3, and cancelled them after qtr-end

Outlook

• Company did not provide specific guidance for future quarters or the full year in its press release

Result Drivers

• GROSS MARGIN EXPANSION - Reklaim attributed improved profitability to higher gross margin in Q3

• OPERATING EXPENSES - Reklaim reported higher operating expenses in Q3, up 12.2% yr/yr

Company press release: ID:nNFC26MrR8

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)