Evertz Technologies Limited (OTCPK:EVTZF) Q3 2025 Results Conference Call March 5, 2025 5:00 PM ET
Company Participants
Brian Campbell – EVP, Business Development
Doug Moore – CFO
Conference Call Participants
Robert Young – Canaccord Genuity
Thanos Moschopoulos – BMO Capital Markets
Operator
Good afternoon, ladies and gentlemen, and welcome to the Evertz Q3 2025 Conference Call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]. I would now like to turn the conference over to Brian Campbell, Executive Vice President of Business Development. Please go ahead.
Brian Campbell
Thank you, Andrew. Good afternoon, everyone, and welcome to Evertz Technologies’ conference call for our fiscal 2025 third quarter ended January 31, 2025. With Doug Moore, Evertz’s Chief Financial Officer and myself, Brian Campbell. Please note that our financial press release and MD&A will be available on SEDAR and on the company’s investor website. Doug and I will comment on the financial results and then open the call to your questions.
Turning now to Evertz’s results, I will begin by providing a few highlights and then Doug will provide additional details. First off, sales for the first quarter — for the third quarter totaled $136.9 million up 9% sequentially from the prior quarter and 1% year-over-year. Revenue included $99.1 million in the U.S. Canada region, up 23% sequentially. Recurring software services and other software revenues increased 6.3% year-over-year totaling $55 million in the quarter.
Our base is well diversified with the top 10 customers accounting for approximately 48% of sales during the quarter with no single customer accounting for over 10% of sales. In fact, we had 115 customer orders of over $200,000 in the quarter.
Gross margin in the quarter was $79.1 million or 57.8% which is within our target range. Investment in
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