Core Insights - Calian Group reported a record first quarter for fiscal 2026, driven by strong demand in defense and space operations, contributions from acquisitions, and margin expansion due to cost optimization initiatives [5][4][6] Financial Performance - Revenue reached CAD 208 million, marking a 12% year-over-year increase, with 6% organic growth; adjusted EBITDA totaled CAD 23 million, up 28%, resulting in an adjusted EBITDA margin of 11% [4][8] - Gross profit rose to CAD 71 million from CAD 59 million a year earlier, with gross margin increasing to 34.1% from 31.8% [2][4] Strategic Changes - The company simplified its operating structure from four segments to two: defense and space, and essential industries, to better align with customer purchasing behavior [1][7] - Defense and space now represent approximately two-thirds of revenue, while essential industries account for about one-third [8][7] Market Demand and Growth - Robust demand was noted in the defense and space segment, particularly in Europe and Canada, with new signings totaling CAD 171 million and a backlog of CAD 1.4 billion [3][8] - Essential industries experienced nearly 20% revenue growth, largely driven by the AMS acquisition and a rebound in U.S. commercial operations [13][8] Capital Allocation and Outlook - The company generated CAD 7 million in cash flow from operations, with net debt at CAD 102 million and available liquidity of approximately CAD 250 million [6][17] - Management reiterated guidance for 10-15% annual revenue growth and double-digit growth in adjusted EBITDA for fiscal 2026, with a focus on M&A as the top capital priority [6][18][20]

Q2 2025 Performance Highlights - Reported revenue reached $168 billion[10] - Adjusted Earnings per share was $024[10] - Adjusted EBITDA margin was 166%[10] - Free cash flow amounted to $125 million[10] Q2 2025 Financial Results - Reported revenue was $1683 million[16] - Adjusted gross profit was $554 million, representing 329% of revenues[16] - Adjusted EBITDA was $280 million, representing 166% of revenues[16] - Adjusted operating income was $252 million, representing 150% of revenues[16] Q2 2025 Performance by Segment - Laboratory Solutions reported revenue of $1122 million with an organic growth of -1% and adjusted operating income of $133 million, resulting in an adjusted operating margin of 119%[19] - Bioscience Production reported revenue of $561 million with an organic growth of 2% and adjusted operating income of $140 million, resulting in an adjusted operating margin of 249%[19] 2025 Full-Year Guidance - The company anticipates organic growth between -2% and 0%[22]