Altus Group reports first quarter 2022 financial results

May 4, 2022

2 min read

Download (PDF)

Share
Share this on
Send this by
Email

Altus Group Limited (ʺAltus” or “the Company”) (TSX: AIF), a market leading Intelligence as a Service provider to the global commercial real estate (“CRE”) industry, announced today its financial and operating results for the first quarter ended March 31, 2022.

Q1 2022 summary


  • Consolidated revenues were $167.6 million, up 22.2% (23.6% on a constant currency* basis).

  • Consolidated profit (loss), in accordance with IFRS, was $(11.5) million, down from $2.6 million.

  • Consolidated earnings (loss) per share, in accordance with IFRS, was

    $(0.26) per share basic and diluted, compared to $0.07 and $0.06 respectively.

  • Consolidated Adjusted EBITDA* was $17.7 million, up 2.9% (4.3% on a constant currency basis).

  • Adjusted EPS* was $0.27, down from $0.34.

  • Altus Analytics revenues were $80.3 million, up 48.1% (50.0% on a constant currency basis), of which Over Time revenues* were $68.0 million, up 59.0% (60.2% on a constant currency basis), and Adjusted EBITDA was $11.2 million, up 10.0% (11.2% on a constant currency basis).

  • Altus Analytics Bookings* totaled $28.0 million, up 31.7% (32.4% on a constant currency basis), of which organic growth in Bookings* was 11.8% (12.5%

    on a constant currency basis).

  • At the end of the first quarter, 44% of the Company’s total ARGUS Enterprise (“AE”) user base had been contracted on ARGUS Cloud (cloud adoption rate)*.

  • CRE Consulting revenues were $87.4 million, up 5.4% (6.4% on a constant currency basis) and Adjusted EBITDA was $16.2 million, up 8.1% (9.2% on a constant currency basis).

  • Entered into a Normal Course Issuer Bid to repurchase for cancellation up to 1,345,142 common shares.

  • As at March 31, 2022, bank debt was $306.7 million and cash and cash equivalents were $46.8 million (representing a funded debt to Adjusted EBITDA leverage ratio of 2.60 times, as such ratio is defined in the Company’s credit facility agreement, or a net debt to Adjusted EBITDA leverage ratio* of 2.37 times).

  • Subsequent to quarter end, acquired Rethink Solutions Inc., the developer of the itamlink property tax management software.

Key contact
undefined's Profile
Camilla Bartosiewicz

Chief Communications Officer

Key contact
undefined's Profile
Camilla Bartosiewicz

Chief Communications Officer

About Altus Group


Altus Group provides the global commercial real estate industry with vital actionable intelligence solutions driven by our de facto standard ARGUS technology, unparalleled asset level data, and market leading expertise.

A market leader in providing Intelligence as a Service, Altus Group empowers CRE professionals to make well-informed decisions with greater speed and scale to maximize returns and reduce risk. Trusted by most of the world’s largest CRE leaders, our solutions for the valuation, performance, and risk management of CRE assets are integrated into workflows critical to success across the CRE value chain.

Founded in 2005, Altus Group is a global company with approximately 2,600 employees across North America, EMEA and Asia Pacific. For more information about Altus Group (TSX: AIF) please visit altusgroup.com.

Resources

Latest press releases

Jun 9, 2025

Altus Group celebrates winners of the 2025 ARGUS University challenge

Altus Group today announced the winners of its 16th annual ARGUS University Challenge – a milestone that reflects both the longevity of the program and Altus Group’s continued leadership in the CRE sector during its 20th year as a public company.

Jun 9, 2025

Jun 5, 2025

Altus Group’s Benchmark Manager wins 2025 Realcomm Digie Award

Altus Group is pleased to share that its newly released Benchmark Manager add-on on ARGUS Intelligence has been awarded the 2025 Realcomm Digie Award for Best Tech Innovation in CRE.

Jun 5, 2025

May 21, 2025

Altus Group releases Q1 2025 U.S. Investment & Transactions Quarterly report

Comprehensive overview of national transaction activity by volume, price, size, and sector. U.S. commercial real estate transactions remained muted in Q1 2025.

May 21, 2025