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Altus Group Q1 Adjusted EPS Jumps 77%, Revenue Rises; Raises 2026 Outlook

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-- Altus Group (AIF.TO) on Thursday reported a 77% year-over-year jump in its first quarter adjusted earnings on increased revenue.

The commercial real-estate technology provider said its adjusted earnings, excluding most one-time items, rose to $17.18 million, or $0.42 per share, up from $9.69 million, or $0.21, in the prior-year period.

Revenue rose 6.2% to $108.2 million, up from $104.4 million a year earlier.

In its outlook, the company raised its 2026 revenue outlook to a rise of 5% to 7%, up from its previous estimate of 4% to 6%, to between $448 million and $454 million. For the second quarter, it expects a jump of 5% to 7% to $110 million to $112 million.

The company also announced that its board of directors approved the payment of a cash dividend of $0.15 per share for the second quarter ending June 30.

"Our first quarter results reflect the strength of our recurring revenue model and the progress we're making to build a more focused, higher-margin data analytics business," said chief executive Mike Gordon. "Growing demand for our flagship offerings drove steady ARR growth, while our disciplined cost actions contributed to meaningful margin expansion, with additional benefits expected to flow through in coming quarters. Recent innovations on the ARGUS Intelligence platform, such as the addition of ARGUS Assist - our agentic AI layer, should further increase engagement and expand cross-sell and upsell opportunities."

The company's shares closed down $0.21 to $44.86 on the Toronto Stock Exchange.

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