$AIF.TO

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

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.

Earnings Flash (AIF.TO) Altus Group Reports Q1 Revenue C$108.2M, Up 6.2% YoY

Altus Group Completes C$200 Million Share Buyback

Altus Group (AIF.TO) bought back nearly 3.85 million of its shares at C$52 each under a share repurchase program, for an aggregate purchase price of about C$200 million, the company said Friday.After the buyback, the company now has about 35.8 million shares outstanding. "Since the SIB was oversubscribed, shareholders who made auction tenders at or below the purchase price and shareholders who made, or were deemed to have made, purchase price tenders had approximately 87.13% of their successfully tendered shares purchased by Altus Group," it said.Payments for the shares are expected to be completed around April 29 and any shares not purchased will be returned to shareholders, the company said, adding that it also plans to continue buying back shares under a separate ongoing program through early 2027.Shares in AIF were down $0.70 or 1.5% today.

RBC Provides its Canadian Technology Q1/CY26 Preview

RBC Capital Markets provided a first-quarter earnings preview for stocks in its Canadian Technology coverage universe on Friday.The S&P/TSX Info-Tech sub-sector had its "worst start to the year" since 2022, due to the continued downward re-rating of software stocks on concerns regarding AI disruption, noted RBC.While RBC expects Q1 results to be "largely in line" with consensus and believes the "magnitude of the pullback in software valuations is an overreaction," it believes sentiment is unlikely to materially change in the short term.Even though RBC anticipates "slightly improved organic growth" for the average stock in its coverage this quarter, the market appears "risk-averse and may largely ignore positive surprises and disproportionately penalize negative surprises," in light of the market sensitivity regarding AI disruption and uncertainty regarding the macro environment, said RBC.Among its covered stocks, RBC believes the "best-positioned stocks" for calendar Q1 results are Celestica (CLS.TO), Shopify (SHOP.TO), Constellation Software (CSU.TO), and Kinaxis (KXS.TO).RBC believes Celestica will report Q1 earnings above consensus and increase FY26 guidance, given hyperscaler capex continues to increase, along with strong network switch and AI server demand, against Celestica's historically conservative outlook, added RBC."Given the strong 36% YTD rally in Celestica's shares, Q1 results may not be a catalyst for the stock," said RBC. "Even so, we believe Celestica's strong growth momentum, ongoing margin expansion, and mix shift to more structurally attractive segments of the market are likely to help sustain Celestica's valuation to remain above peers and toward the high end of its historical range."For Shopify, RBC expects "solid" Q1 results and Q2 guidance slightly above consensus estimates.U.S. e-commerce spending strengthened through Q1, noted RBC which it believes implies revenue growth accelerates sequentially, with Q1 revenue and adj. EPS likely slightly above consensus."While the valuation of Shopify's shares has re-rated down with the YTD pullback in software stocks, Shopify's fundamentals remain solid, in our view, and we expect strong growth to drive shareholder returns over the long term," said RBC.RBC expects Constellation's shares to modestly rally following Q1 results."With the stock trading near multi-year valuation lows, we see investor sentiment improving, given Q1 slightly ahead of consensus, TTM free cashflow up 25%, and annualized Q1 capital deployed on acquisitions likely tracking to a new record," said RBC. "We see Constellation's valuation as compelling, compared to our forecast for a 17% adj. EBITDA CAGR over the next 3 years."RBC believes Kinaxis's shares may "slightly rally" following Q1 results. It expects Kinaxis to report "solid" Q1 results, slightly above consensus, with continued growth re-acceleration and likely healthy bookings."With Kinaxis seeing reaccelerating growth, but trading at discounted valuation levels, we see compelling risk-reward on the shares," added RBC. "Moreover, ramping share buybacks may provide a floor for the stock."Price: $565.60, Change: $+28.12, Percent Change: +5.23%

Altus Group Announced Preliminary Results of Substantial Issuer Bid

Altus Group (AIF.TO), a provider of commercial real estate intelligence, on Wednesday announced the preliminary results of its substantial issuer bid (SIB).Pursuant to the SIB, the company offered to purchase for cancellation a number of its common shares for an aggregate purchase price not to exceed C$200 million at a purchase price of not less than $42.00 and not more than $52.00 per share. The SIB expired on April 21, 2026.The company said that, in accordance with the terms and conditions of the SIB and based on the preliminary calculation of TSX Trust Company as depositary for the SIB, Altus Group expects to take up and pay for approximately 3.8 million shares at a price of $52.00 per share under the SIB, representing an aggregate purchase price of approximately $200 million and approximately 9.69% of the total number of Altus Group's issued and outstanding shares (net of escrowed shares) before giving effect to the SIB and on a non-diluted basis. Approximately 82,000 shares were tendered through notices of guaranteed delivery, said the company.It added that, based on the Depositary's preliminary calculation, approximately 4.4 million shares were validly tendered and not withdrawn, including pursuant to proportionate tenders. None of Altus Group's directors or executive officers participated in the SIB, said the company."Since the SIB was oversubscribed, shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders will have the number of Shares purchased prorated following the determination of the final results of the SIB (other than "odd lot" tenders, which are not subject to proration)."Altus Group said it currently expects that shareholders who made auction tenders at or below the purchase price and purchase price tenders will have approximately 87.13% of their "successfully tendered shares" purchased by Altus Group.In a statement the company noted that, shareholders who made valid proportionate tenders will have such number of shares purchased by Altus Group as would permit such shareholders to maintain their same share ownership percentage as existed prior to completion of the SIB, subject to rounding to avoid the purchase of fractional shares.Approximately 2,518 shares are expected to be taken up and purchased pursuant to proportionate tenders, added the company.After giving effect to the SIB, the company expects to have approximately 35.8 million shares issued and outstanding (net of 187,809 escrowed shares).The company's shares were last seen down $0.97 at $48.71 on the Toronto Stock Exchange.Price: $48.54, Change: $-1.14, Percent Change: -2.29%

Altus Group Unveils ARGUS Assist AI for Its ARGUS Intelligence Platform

Altus Group (AIF.TO) on Tuesday unveiled its latest agentic AI feature, ARGUS Assist, at its Altus Connect conference in Palos Verdes, California.ARGUS Assist is the first AI experience layer on the company's flagship ARGUS Intelligence platform. It provides a conversational interface embedded across the entire platform, making interacting with ARGUS data faster and more intuitive, Altus said in a statement.Unlike generic AI tools, the company said ARGUS Assist is "purpose-built" for commercial real estate. Users can ask questions or request analyses in natural language, and specialized AI agents automatically execute tasks across the ARGUS Intelligence platform. Instead of navigating multiple screens, tools, and calculations, users can quickly generate insights, perform analyses, and retrieve information through a single, intuitive interface."ARGUS Assist fundamentally changes how clients interact with the ARGUS Intelligence platform," said chief product and technology officer David Ross. "By transforming complex analytical workflows into simple, conversational requests, it serves as a digital companion for real estate professionals to help them evaluate investments, analyse portfolio performance, and uncover opportunities faster than ever.The company's shares closed $0.32 down at $49.92 on Toronto Stock Exchange on Tuesday.