Lumine Group Inc. Announces Results for the Second Quarter Ended June 30, 2026

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Postmedia has not reviewed the content. by GlobeNewswire Lumine Group Inc. Announces Results for the Second Quarter Ended June 30, 2026Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.Revenue increased 28% year-over-year to $235.1 million.Operating income grew 20% year-over-year to $75.3 million.Subsequent to quarter end, the Company completed two acquisitions for total consideration of $233.7 million.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTORONTO, Aug. 04, 2026 (GLOBE NEWSWIRE) — Lumine Group Inc. (“Lumine Group” or “the Company”) (TSXV:LMN) announces financial results for the second quarter ended June 30, 2026. All amounts referred to in this press release are in US dollars unless otherwise stated.“Our second quarter results reflect our proven ability to execute according to our domain-optimized playbook. In the first full quarter of ownership of Synchronoss, Lumine Group’s revenue grew 28% while operating income was up 20%, reflecting strengthening activities that commenced immediately post close. Our core business continues to generate positive results, as reflected in our steady organic growth, and demonstrated strong margin profile,” said David Nyland, Lumine Group CEO. “We continue to deploy capital at high rates of return, closing two acquisitions on July 1, 2026 in Quortex and Imagine Communications. These two acquisitions deepen our presence in the media supply chain domain. This brings our total capital deployed to over $500M so far this year.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againRevenue increased 28% to $235.1 million compared to $184.0 million in Q2 2025 (organic growth was 1% after adjusting for foreign exchange impacts).The Company generated operating income of $75.3 million during the quarter, a 20% increase from $62.7 million in Q2 2025.The Company generated net income of $15.4 million during the quarter, a 35% decrease from net income of $23.6 million in Q2 2025.Cash flows from operations (“CFO”) was $68.5 million, compared to $78.4 million in Q2 2025, representing a decrease of $9.9 million or 13%.Free cash flow available to shareholders (“FCFA2S”) was $60.4 million compared to $72.4 million in Q2 2025, representing a decrease of $12.0 million or 17%.Subsequent to June 30, 2026, the Company completed acquisitions of Synamedia Vividtec Holdings (Guernsey) Limited and acquired select assets of the Synamedia Video Network business (collectively, “Quortex”), and Imagine Communications Holdings Inc. (“Imagine Communications”) on July 1, 2026, for aggregate cash consideration of $211.3 million on closing plus total estimated deferred payments of $22.4 million, for total consideration of $233.7 million.Total revenue for the three months ended June 30, 2026 was $235.1 million, an increase of 28%, or $51.1 million, compared to $184.0 million for the comparable period in 2025. For the six months ended June 30, 2026, total revenue was $443.4 million, an increase of 22%, or $80.8 million, compared to $362.6 million for the comparable period in 2025. The increase for the three and six months ended June 30, 2026 compared to the same periods in 2025 is primarily attributable to revenues from new acquisitions in the current and preceding years. The Company experienced organic growth of 1% for the three months ended June 30, 2026 or 1% after adjusting for the impact of changes in the valuation of the US dollar against most major currencies in which the Company transacts business. For acquired companies, organic growth is calculated as the difference between actual revenues achieved by each business in the financial period following acquisition, compared to the estimated revenues they achieved in the corresponding financial period preceding the date of acquisition by the Company. Organic growth is not a standardized financial measure and might not be comparable to measures disclosed by other issuers.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Operating income for the three months ended June 30, 2026 was $75.3 million, an increase of 20%, or $12.6 million, compared to $62.7 million for the same period in 2025. Operating income for the six months ended June 30, 2026 was $133.2 million, an increase of 9%, or $11.0 million, compared to $122.2 million for the same period in 2025. The increase for the three and six month periods ended was attributable to improved profitability in our existing businesses, as well as contributions from recent acquisitions following strengthening activities. Operating income is not a standardized financial measure and might not be comparable to measures disclosed by other issuers. See “Non-IFRS Measures”.Net income for the three months ended June 30, 2026 was $15.4 million, a decrease of 35%, or $8.2 million, compared to net income of $23.6 million for the same period in 2025. Net income for the six months ended June 30, 2026 was $34.4 million compared to net income of $44.3 million for the same period in 2025. The decrease in net income for the three and six months ended June 30, 2026 is primarily attributable to non-recurring costs incurred from acquisitions in the current year as well as higher amortization of intangible assets, financing costs, and tax expenses during the period.For the three months ended June 30, 2026, CFO decreased $9.9 million to $68.5 million compared to $78.4 million for the same period in 2025 representing a decrease of 13%. The decrease for the three months is mainly driven by higher non-cash operating working capital of $20.3 million and higher income taxes paid of $1.3 million, partly offset by higher operating income of $12.6 million. For the six months ended June 30, 2026, CFO decreased $30.2 million to $88.3 million compared to $118.5 million for the same period in 2025 representing a decrease of 25%. The decrease for the six months is mainly driven by higher non-cash operating working capital of $34.8 million and higher income taxes paid of $5.6 million, partly offset by higher operating income of $11.0 million.For the three months ended June 30, 2026, FCFA2S decreased $12.0 million to $60.4 million compared to $72.4 million for the same period in 2025 representing a decrease of 17%. For the six months ended June 30, 2026, FCFA2S decreased $31.6 million to $75.8 million compared to $107.4 million for the same period in 2025 representing a decrease of 29%. The decrease in the three and six months ended June 30, 2026 is driven by lower CFO and higher transaction costs incurred to secure bank indebtedness, compared to the same periods in 2025. FCFA2S is a non-IFRS Measure. See “Non-IFRS Measures”.Operating income refers to net income (loss) before income tax expense, amortization of intangible assets, gain on bargain purchase net of any reductions, and finance costs and other expenses (income). The Company believes that operating income is useful supplemental information as it provides an indication of the profitability of Lumine Group related to its core operations. Operating income is not a recognized measure under IFRS and may not be comparable to similar financial measures disclosed by other issuers. Accordingly, readers are cautioned that operating income should not be construed as an alternative to net income (loss).The following table reconciles operating income to net income:UnauditedThree months endedJune 30, Six months endedJune 30, 20262025 20262025 ($ in millions) ($ in millions) Net income15.423.6 34.444.3 Adjusted for: Amortization of intangible assets36.626.3 67.652.3 Reduction (increase) of gain on bargain purchase0.0(2.5) 0.8(2.5)Finance costs and other expenses10.97.4 14.212.5 Income tax expense12.47.9 16.215.5 Operating income75.362.7 133.2122.2 Free cash flow available to shareholders ‘‘FCFA2S’’ refers to net cash flows from operating activities less interest paid on lease obligations, interest paid on bank indebtedness, transaction costs on bank indebtedness, repayments of lease obligations, interest, dividends and other proceeds received, and property and equipment purchased net of proceeds from disposal. The Company believes that FCFA2S is useful supplemental information as it provides an indication of the uncommitted cash flow that is available to shareholders if Lumine Group does not make any acquisitions, or investments, and does not repay any bank indebtedness. While the Company could use the FCFA2S to pay dividends or repurchase shares, the Company’s objective is to invest all of its FCFA2S in acquisitions which meet the Company’s hurdle rate.FCFA2S and FCFA2S per share are not recognized measures or ratios under IFRS and may not be comparable to similar financial measures or ratios disclosed by other issuers. Accordingly, readers are cautioned that FCFA2S and FCFA2S per share should not be construed as an alternative to net cash flows from operating activities, including on a per-share basis.The following table reconciles FCFA2S to net cash flows from operating activities:UnauditedThree months endedJune 30,Six months endedJune 30, 2026 2025 2026 2025 ($ in millions)($ in millions)Net cash flows from operating activities:68.5 78.4 88.3 118.5 Adjusted for: Interest paid on lease obligations(0.2)(0.1)(0.4)(0.2)Interest paid on bank indebtedness(4.2)(3.9)(6.9)(7.7)Transaction costs on bank indebtedness(1.9)0.0 (1.9)0.0 Repayments of lease obligations(2.0)(1.6)(3.7)(3.2)Interest, dividends and other proceeds received1.0 1.1 2.3 1.8 Property and equipment purchased, net of proceeds from disposal(0.8)(1.5)(1.9)(1.7)Free cash flow available to shareholders60.4 72.4 75.8 107.4 This press release should be read in conjunction with the Company’s unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2026, and management’s discussion and analysis (“MD&A”) for the three and six months ended June 30, 2026, which can be found on SEDAR+ at www.sedarplus.ca. Additional information about Lumine Group is also available on SEDAR+ and on Lumine Group’s website www.luminegroup.com.Forward Looking StatementsCertain statements herein may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Lumine Group or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Lumine Group assumes no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.Lumine Group acquires, strengthens, and grows, businesses in the communications and media industry. Learn more at www.luminegroup.com.David NylandChief Executive Officer Lumine Group investors@luminegroup.com+1-437-353-4910Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Condensed Consolidated Interim Statements of Financial Position(In thousands of USD. Due to rounding, numbers presented may not foot.)Unaudited June 30, 2026December 31, 2025 Assets Current assets: Cash$421,651$352,441Accounts receivable, net 179,107 163,174Unbilled revenue 53,790 47,547Inventories 516 557Other assets 65,852 51,808 720,916 615,527Non-current assets: Property and equipment 8,798 8,325Right of use assets 7,291 5,779Deferred income taxes 16,618 15,503Other assets 15,861 13,752Intangible assets and goodwill 969,985 727,694 1,018,553 771,053Total assets$1,739,469$1,386,580 Liabilities and Equity Current liabilities: Accounts payable and accrued liabilities$119,382$123,835Due to related parties, net 420 860Current portion of bank indebtedness 5,500 1,992Deferred revenue 121,971 94,776Provisions 1,235 —Acquisition holdback payables 3,686 5,914Lease obligations 9,525 3,149Income taxes payable 8,606 9,044 270,325 239,570Non-current liabilities: Deferred income taxes 125,950 108,565Bank indebtedness 476,197 207,956Lease obligations 8,438 3,631Other liabilities 10,557 7,716 621,142 327,868Total liabilities 891,467 567,438 Equity: Capital stock 490,669 490,669Contributed surplus 185,142 185,142Accumulated other comprehensive (loss) income 2,456 8,042Retained earnings 169,735 135,289 848,002 819,142 Total liabilities and equity$1,739,469$1,386,580Condensed Consolidated Interim Statements of Income(In thousands of USD, except share and per share amounts. Due to rounding, numbers presented may not foot.) Three months ended June 30,Six months ended June 30, 2026 2025 2026 2025 Revenue License$14,518 $11,716 $25,891 $24,043 Professional services 33,637 36,167 66,551 67,444 Hardware and other 8,414 2,947 12,267 12,017 Maintenance and other recurring 178,490 133,125 338,697 259,143 235,059 183,955 443,406 362,647 Expenses Staff 115,394 87,496 230,548 171,400 Hardware 5,348 1,742 7,342 6,401 Third party license, maintenance and professional services 14,960 10,597 28,442 21,800 Occupancy 922 972 1,868 1,968 Travel, telecommunications, supplies, software and equipment 10,790 8,935 20,924 17,917 Professional fees 6,334 3,683 10,534 7,523 Other, net 3,796 5,490 6,159 8,785 Depreciation 2,261 2,380 4,400 4,690 Amortization of intangible assets 36,559 26,322 67,643 52,336 196,364 147,617 377,860 292,820 Reduction (increase) of gain on bargain purchase — (2,494) 804 (2,494)Finance costs and other expenses 10,847 7,388 14,136 12,522 10,847 4,894 14,940 10,028 Income before income taxes 27,848 31,444 50,606 59,799 Current income tax expense 20,112 12,691 27,489 27,261 Deferred income tax recovery (7,703) (4,800) (11,329) (11,794)Income tax expense 12,409 7,891 16,160 15,467 Net income$15,439 $23,553 $34,446 $44,332 Weighted average shares outstanding: Basic and diluted 256,620,389 256,620,389 256,620,389 256,620,389 Earnings per share: Basic and diluted$0.06 $0.09 $0.13 $0.17 Condensed Consolidated Interim Statements of Comprehensive Income(In thousands of USD. Due to rounding, numbers presented may not foot.) Three months ended June 30,Six months ended June 30, 2026 2025 2026 2025 Net income$15,439$23,553$34,446 $44,332 Items that are or may be reclassified subsequently to net income: Foreign currency translation differences from foreign operations and other 2,607 16,095 (5,586) 20,227 Other comprehensive income (loss) for the period, net of income tax 2,607 16,095 (5,586) 20,227 Total comprehensive income for the period$18,046$39,648$28,860 $64,559Condensed Consolidated Interim Statement of Changes in Equity(In thousands of USD. Due to rounding, numbers presented may not foot.)Six months ended June 30, 2026 Capital stockContributed surplusAccumulated other comprehensive incomeRetained earningsTotal equity Balance at January 1, 2026$490,669$185,142$8,042 $135,289$819,142 Total comprehensive income for the period: Net income — — — 34,446 34,446 Other comprehensive loss: Foreign currency translation differences from foreign operations and other — — (5,586) — (5,586)Total other comprehensive loss for the period — — (5,586) — (5,586) Total comprehensive (loss) income for the period — — (5,586) 34,446 28,860 Balance at June 30, 2026$490,669$185,142$2,456 $169,735$848,002 Condensed Consolidated Interim Statement of Changes in Equity(In thousands of USD. Due to rounding, numbers presented may not foot.)Six months ended June 30, 2025 Capital stockContributed surplusAccumulated other comprehensive (loss) incomeRetained earningsTotal equity Balance at January 1, 2025$490,669$185,142$(13,612)$16,523$678,722 Total comprehensive income (loss) for the period: Net (loss) income — — — 44,332 44,332 Other comprehensive income: Foreign currency translation differences from foreign operations and other — — 20,227 — 20,227Total other comprehensive income for the period — — 20,227 — 20,227 Total comprehensive income for the period — — 20,227 44,332 64,559 Balance at June 30, 2025$490,669$185,142$6,615 $60,855$743,281Condensed Consolidated Interim Statements of Cash Flows(In thousands of USD. Due to rounding, numbers presented may not foot.)Unaudited Three months ended June 30,Six months ended June 30, 2026 2025 2026 2025 Cash flows from operating activities: Net income$15,439 $23,553 $34,446 $44,332 Adjustments for: Depreciation 2,261 2,380 4,400 4,690 Amortization of intangible assets 36,559 26,322 67,643 52,336 Contingent consideration adjustments — 587 (554) 475 Reduction (increase) of gain on bargain purchase — (2,494) 804 (2,494)Finance costs and other expenses 11,801 8,493 16,410 14,321 Income tax expense 12,409 7,891 16,160 15,467 Change in non-cash operating assets and liabilities exclusive of effects of business combinations 8,492 28,800 (23,436) 11,384 Income taxes paid (18,462) (17,182) (27,615) (21,991)Net cash flows from operating activities 68,499 78,350 88,258 118,520 Cash flows from (used in) financing activities: Interest paid on lease obligations (213) (97) (356) (202)Interest paid on bank indebtedness (4,175) (3,886) (6,907) (7,699)Proceeds from issuance of bank indebtedness 220,000 — 380,000 — Repayments of bank indebtedness (106,844) (36,076) (106,844) (36,319)Transaction costs on bank indebtedness (1,902) (27) (1,921) (46)Payments of lease obligations (2,038) (1,644) (3,733) (3,226)Net cash flows from (used in) financing activities 104,828 (41,730) 260,239 (47,492) Cash flows from (used in) investing activities: Acquisition of businesses — (6,807) (309,284) (6,807)Cash obtained with acquired businesses — — 34,325 — Post-acquisition settlement payments, net of receipts — 2,513 (2,185) 1,576 Interest, dividends and other proceeds received 954 1,105 2,274 1,799 Property and equipment purchased, net of proceeds received (686) (1,384) (1,842) (1,638)Decrease in restricted cash, and other investing activities (21) (80) 24 4,257 Net cash flows from (used in) investing activities 247 (4,653) (276,688) (813) Effect of foreign currency on cash (115) 5,610 (2,599) 8,475 Increase in cash 173,459 37,577 69,210 78,690 Cash, beginning of period 248,192 252,096 352,441 210,983 Cash, end of period$421,651 $289,673 $421,651 $289,673 Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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