OneSoft Solutions Inc. Announces Q2 2024 Financial Results and Acquisition by Irth Solutions

On August 28, 2024, OneSoft Solutions Inc. (TSXV:OSS, OTCQB:OSSIF) revealed its financial results for Q2 2024, ending June 30, 2024. The company reported a revenue increase of 24% to $3.1 million, a gross profit rise of 25% to $2.4 million, and a net loss of $615,000 due to higher costs. Adjusted EBITDA loss improved to $17,300. As of June 30, 2024, cash and equivalents stood at $5.7 million, with $247,000 in debt.

For H1 2024, revenue rose 28% to $6 million, gross profit increased 32% to $4.5 million, and net loss grew to $1.3 million. Adjusted EBITDA improved to a loss of $261,200.

OneSoft also announced a binding agreement with Blackstone's Irth Solutions to acquire all OneSoft shares for $0.88 per share, totaling CDN$113 million. The transaction, subject to shareholder, court, and regulatory approvals, is expected to conclude in Q4 2024.