The company reported a Q2 net loss of C$0.01 per share as revenue declined across managed services and professional projects.
Pivotree reported a Q2 net loss of C$0.4 million, or C$0.01 per share, as revenue fell to C$12.6 million. The decline reflects the winding down of Legacy Managed Services and completed system integration projects.
Revenue from MIPS dropped 5.3% year-over-year to C$3.5 million, while LMS revenue plunged 46.9% to C$1.6 million due to customer churn. Professional Services revenue also decreased 29.5% to C$7.4 million, driven by project completions.
The results highlight ongoing challenges in stabilizing revenue amid a transition away from legacy services.