SSC Security Services Corp. ("SSC" or the "Company") (TSXV: SECU) (OTCQX: SECUF), a national provider of physical and electronic security services to commercial, industrial and public sector clients across Canada, today releases its financial results for the second quarter ended March 31, 2026. On May 26, 2026, SSC announced a definitive Arrangement Agreement with Allied Universal pursuant to which Allied Universal will acquire all issued and outstanding common shares of SSC for all-cash consideration of $4.4075 per share, representing a 119% premium to the closing price on May 25, 2026 (the "Transaction"). Concurrent with the Transaction, SSC's cyber security and legacy agriculture businesses will be sold to a corporation controlled by current and former senior management. See "Subsequent Event" below. All figures are presented in Canadian dollars.
"SSC is continuing its profitable run this quarter. Our consistently strong results are a testament to the hard work of everyone at the company -- and while that may sound cliché, in our case it is very true. You don't achieve organic growth of over 15% without a team that is committed to their work and to creating value for our shareholders. There are many changes and opportunities ahead for our employees as we move toward new ownership with Allied Universal in the coming months. It has been an honour to lead this team and to be part of building one of the best security services companies in Canada," said Chairman and CEO Doug Emsley.
Key Highlights for Q2 2026:
- Strong Revenue Growth – The Company generated $32.0 million in revenue in Q2 2026, an increase of 15.5% from $27.7 million in the prior-year second quarter. This represents the highest second quarter revenue in the Company's history.
- Consistent Adjusted EBITDA - Adjusted EBITDA for the quarter ended March 31, 2026 was $1.2 million ($0.06 per share), an increase from the prior year second quarter adjusted EBITDA of $1.0 million ($0.06 per share).
- Gross Profit Growth – Gross profit was $5.0 million (15.6% margin) for the three months ended March 31, 2026, compared to $4.5 million (16.1%) in the same three-month period last year.
- Final Quarterly Dividend Paid; Dividend Subsequently Suspended - During the quarter we paid $0.03 per share in dividends to shareholders. Subsequent to the quarter, in connection with the Transaction, SSC has suspended all dividend payments effective immediately. No further dividends will be declared or paid.
- We finished the quarter ended March 31, 2026 with:
- Cash and cash equivalents of $6.7 million equal to $0.36 per share;
- Working capital of $25.1 million;
- Total shareholders' equity of $60.4 million; and
- No debt.
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