CALGARY, August 9, 2016Solium Capital Inc. (TSX: SUM) (“Solium” or the “Company”) today announced its financial results for the second quarter ended June 30, 2016.

Financial and operating highlights for the three and six month periods ended June 30, 2016:

Revenue increased by 12% to $25.6 million in the second quarter of 2016 and by 7% to $51.0 million for the six month period ended June 30, 2016;

  • Adjusted EBITDA1 increased by 11% to $4.9 million in the second quarter of 2016 and decreased by 14% to $9.3 million in the six month period ended June 30, 2016;
  • Earnings from operations decreased by 52% to $1.6 million in the second quarter of 2016 and by 45% to $4.7 million for the six month period ended June 30, 2016;
  • Net earnings decreased by 100% to $0.007 million in the second quarter of 2016 and by 72% to $1.9 million in the six month period ended June 30, 2016; and
  • Cash on hand as at June 30, 2016 totaled $74.9 million.

Key factors affecting financial results in the three and six month periods ended June 30, 2016:

  • Organic growth in license revenue – The Company experienced increased license and subscriptions fees during the three and six months ended June 30, 2016 as compared to the same periods in 2015. Based on local currencies, the growth was 6% during the second quarter of 2016, and 7% during the six months ended June 30, 2016 as compared to the same periods in 2015. With the benefit of favorable foreign exchange rates to convert US and international currencies to CAD, license and subscription fees increased by $1.6 million or 11% during the second quarter of 2016, and $4.0 million or 13% during the six months ended June 30, 2016 as compared to the same periods in 2015.

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