Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data VIQ Solutions Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2021
FY2021
FY2022
Revenue
25.1
31.7
31
45.8
Cost of revenue
14.3
15.6
16.1
23.9
Gross profit
10.8
16.2
14.9
21.9
Research and development
0.99
1.07
1.09
0.73
Selling, general and administrative
8.95
11
19.1
24.5
Operating income
0.01
Pre-tax income
-4.43
-12.1
-18.7
-9.32
Income tax
0.1
-0.94
0.94
-0.61
Net income
-4.52
-11.1
-19.7
-8.71
EBITDA
5.27
EPS, basic
-0.46
-0.62
-0.74
-0.28
EPS, diluted
-0.46
-0.62
-0.74
-0.28
Balance sheet
FY2019
FY2021
FY2021
FY2022
Cash and equivalents
1.71
16.8
10.6
1.66
Receivables
3.17
4.48
5.59
5.31
Inventory
0.05
0.05
0.04
Total current assets
21.6
18.3
9.16
Property, plant and equipment
0.11
0.22
0.46
1.43
Lease right-of-use assets
0.65
0.31
1.13
1.06
Goodwill
4.3
6.98
12.4
12
Intangible assets
10.2
12.1
14.9
10.7
Total assets
20.8
42.7
48
35.5
Total current liabilities
7.96
8.49
10.6
17.2
Lease liabilities
0.24
0.9
0.72
Total liabilities
22.9
25.9
19.9
Total debt
6.51
13.6
13.1
8.65
Retained earnings
-35.3
-55
-63.7
Total equity
2.21
19.8
22.1
15.6
Total liabilities and equity
42.7
48
35.5
Cash flow statement
FY2019
FY2021
FY2021
FY2022
Net income
-4.52
-11.1
-19.7
-8.71
Depreciation and amortization
3.5
5.26
4.64
6.09
Cash from operations
-0.56
3.42
-8.24
-2.34
Capital expenditures
-0.09
-0.2
-0.08
-1.2
Cash from investing
-1.78
-6.64
-14.4
-4.1
Debt issued
1.93
4.83
Debt repaid
-0.98
-0.84
-1.07
-4.76
Stock issued
13.7
16.7
4.05
Cash from financing
2.06
18.2
16.5
-2.37
Exchange rate effect
0.06
0.18
-0.1
-0.11
Free cash flow
-0.65
3.22
-8.32
-3.54
Interest paid
0.78
1.11
1.31
1.15
Income taxes paid
0.11
Key metrics
Worked out from the statements above. Latest values use fiscal 2022. Valuation uses the share price of $0.07 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
47.8%
Gross profit / revenue.
Pre-tax margin
-20.3%
Pre-tax income / revenue.
Net margin
-19.0%
Net income / revenue.
FCF margin
-7.7%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-5.1%
Cash from operations / revenue.
Return on assets (ROA)
-20.8%
Net income / average total assets.
R&D / revenue
1.6%
Research and development expense / revenue.
SG&A / revenue
53.5%
Selling, general and administrative expense / revenue.
Capex / revenue
2.6%
Capital expenditures / revenue.
D&A / revenue
13.3%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
47.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
22.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
46.9%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
26.5%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-26.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
19.6%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.53x
Current assets / current liabilities.
Quick ratio
0.41x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.10x
(Cash + short-term investments) / current liabilities.
Debt / assets
24.3%
Total debt / total assets.
Liabilities / assets
56.0%
Total liabilities / total assets.
Net debt
$7.0M
Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital
-$8.0M
Current assets - current liabilities.
Goodwill and intangibles / assets
64.1%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
1.10x
Revenue / average total assets.
Fixed asset turnover
48.4x
Revenue / average property, plant and equipment.
Inventory turnover
548x
Cost of revenue / average inventory.
Days inventory
1 days
365 x average inventory / cost of revenue.
Receivables turnover
8.41x
Revenue / average receivables.
Days sales outstanding
43 days
365 x average receivables / revenue.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.28
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$0.28
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$2.4M
Share price x shares outstanding.
Enterprise value
$9.4M
Market cap + total debt - cash - short-term investments.
P/S
0.05x
Market cap / revenue.
EV/Sales
0.20x
Enterprise value / revenue.
FCF yield
-150.2%
Free cash flow / market cap.
Earnings yield
-369.5%
Net income / market cap (the inverse of P/E).
What was VIQ Solutions Inc.'s revenue in fiscal 2022?
VIQ Solutions Inc. reported revenue of $45.8M for fiscal 2022, 47.7% higher than the year before.
Was VIQ Solutions Inc. profitable in fiscal 2022?
No. It reported a net loss of $8.7M.
How much free cash flow did VIQ Solutions Inc. generate in fiscal 2022?
Cash from operations of $2.3M minus capital expenditures of $1.2M left free cash flow of -$3.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.