The following is a summary of the Altus Group Limited (ASGTF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Altus Group reported a Q1 2024 revenue increase of 4.3%.

• Profit improved dramatically by 93.7%.

• Adjusted EBITDA increased by 12.9%, contributing to a 100 basis point margin expansion.

• There was an impressive increase in free cash flow, up 83.5% from last year.

• The positive financial performance reflects growth within the Analytics business segment.

• Financial success was fuelled by the transition to cloud subscriptions, new sales, and contributions from Forbury acquisition.

• Altus Group expects to maintain this positive trajectory with revenue growth and margin expansion forecasted.

Business Progress:

• The Property Tax segment (U.S. branch) reported a strong performance, with revenue growth of 10.2% and adjusted EBITDA up by 24.9%.

• Margins for this segment saw a significant 300 basis point improvement.

• The Valuation Management Solutions (VMS) software displayed robust growth.

• Altus Group's international reach is growing, particularly in the APAC and UK markets, driven by Forbury.

• Major clients are fostering expansion in the Asian market due to their transparency requirements for APAC portfolios.

• The organization continues to focus on data science and analytics as demonstrated by their operational investments, acquisitions, and restructuring program.

More details: ALTUS GROUP LTD IR

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