v3.26.1
UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
$ in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
Cash flows from operating activities    
Net income $ (1,619) $ 1,474
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,922 798
Share-based compensation 1,284 789
Unrealized foreign exchange loss (gain) (976) (189)
Income tax expense (recovery) (284) 883
Finance income, net 410 (648)
Changes in non-cash working capital items:    
Trade and other receivables 6,803 (4,786)
Prepaids and deposits 1,945 (2,146)
Contract costs, net (1,119) (854)
Trade and other payables 7,232 1,785
Employee benefit obligations (561) 56
Deferred revenue 10,044 10,916
Income taxes paid (275) (133)
Cash from operating activities 24,806 7,945
Cash flows used in investing activities    
Purchase of property and equipment (109) (298)
Acquisition of business, net of cash acquired (52,200) 0
Cash used in investing activities (52,309) (298)
Cash flows used in financing activities    
Payments received on net investment in finance lease 0 19
Repayment of lease obligations (427) (434)
Net Interest Received (Paid) (333) 574
Proceeds from exercise of stock options 0 213
Proceeds from share issuance under employee share purchase plan 200 236
Proceeds from loan issuance 80,239 0
Shares repurchased for cancellation (63,114) (9,407)
Repayment of borrowings 0 0
Cash used in financing activities 16,565 (8,799)
Net change in cash and cash equivalents during the period (10,938) (1,152)
Effect of foreign exchange on cash and cash equivalents 89 486
Cash and cash equivalents, beginning of the period 74,037 92,540
Cash and cash equivalents, end of the period $ 63,188 $ 91,874